For many, economic woes are an immediate reality, with food, fuel, jobs and housing making every day a struggle. For others, jobs are currently intact, mortgages are being paid, and while the food and fuel bills are unpleasant, they haven't yet broken the bank. Of those who aren't in financial crisis, many are still worried about what's coming around the bend, so they're cutting back and preparing for the worst.
My husband and I still have our jobs and we're fortunate that our mortgage is locked in for 30 years, but I'm definitely concerned. My job is very economy-sensitive; every recession, hordes of advertising copywriters like myself get the boot and hit the streets. As for my husband's business, it's only about five years old and we have no experience as to what a struggling economy will bring to his company's bottom line. So even though there have been no actual changes to our finances other than increased food and fuel costs, I am making significant spending changes across the board -- just in case.
How do you feel about the economy? Have you experienced recent financial setbacks or is everything status quo? And if your situation is currently stable, are you still cutting back out of recession worries or is it spending as usual?
