How is the current global financial crisis affecting your everyday lives?
October 17, 2008 5:14pm CST
You don't need to be shareholders or stock market brokers to be affected with what is currently going on. Currencies fluctuating, commodity prices soaring up to sky rocketing length, not to mention interest rates and petrol/fuel prices, house prices getting more and more unaffordable...what else? In some countries, house prices are apparently on the roll, but unless you have the cold cash to buy, I don't consider that as a good news still. I'm sure all of us are feeling the pinch one way or another. How are you coping with the situation? Let's try to learn from one another on how to deal with this tight situation. I suppose this is the time when we really need to stand united, be there for each other and give all our mighty strength to pull ourselves up again.
• United States
25 Oct 08
Hi pink bunny, I have just started the same question you have raised, my concern comes because I live in an island that always have had economical issues, very poor people, very rich people, and a mid class that fuels the economy, the daily services (utilities) Energy power, water, garbage collection are so bad that we have to be our own Majors in order to live in some kind of comfort. Up to now the problems are the same no Jobs, business opportunities are not the best, prices rising and with about 10 Hours of electricity daily provided by the government, is very hard to be productive, efficient and affordable. I also have the opportunity to travel to the US in regular basis so I have been able to see how the economy has been changing there the city that I visit the most is Miami and in the last 2 years things have increased in price tremendously. Someone who has a job in this days HAS to cherish it, an as you say SAVE. There is a saying: "THE BEST TIME TO SAVE SOME MONEY IS WHEN YOU HAVE SOME" Be Frugal, and self conscious as the persons who have made a post in your discussion observed. Your advice is Wise. Hope many people read these discussions because we haven't hit bottom yet, and is time the get ready for a bumpy ride. Prudence is going to be our best companion, Best of luck to all!
27 Oct 08
Judging from the number of responses that I've got so far for this discussion, I don't think there aren't many who are really conscious of what is happening around us and/or serious of doing something about it. People who are not affected (the rich and famous maybe) could not care less and those that are directly affected (average, ordinary people like you and me) seems to just choose to ignore what is going on. Thank you for your contribution my friend.
• United States
18 Oct 08
Hi pink_bunny, I live in the USA and things are really very bad here. There is a huge shortness of jobs and the unemployment rate is at an all time high. The gas prices here are almost $5 per gallon in NY where I live. Things are very depressing and scary. I am not working and am very scared about what might happen to me. I don't know what I am going to do. I am temporarily disabled and I don't get enough money to pay all my bills and even if I tried to get a job I would have a really hard time right now because I haven't worked in quite awile. When I was working I lived from paycheck to paycheck and I was barely surviving. I don't know what is going to happen. I am just praying for something to happen that will help me find a way to make some money so that I can help with my bills.
25 Oct 08
Hello opal26, my heart goes out to you. I know exactly how you feel coz I was in that kind of situation before, being jobless. But then again, things were as not as bad then like now. For as long as you're receiving some form of financial aid, you'll be fine...just try to live within your means for now. This means, just focus on all your necessities and live frugaly. Never mind if you can't afford going to the movies or treating yourself for an ice cream. Just remember, in this kind of situation, its better to live on packets of biscuits for as long as they will last you until the next payday, than having one really hearty meal and starving yourself for the rest of the week/fortnight/month until next paycheque comes. Look for some hobbies that you might be able to turn around and make into a money-maker scheme. You'll be alright, my friend....just have faith and do your share. Thank you for your comment and best regards....hugs from Oz.
• United States
18 Oct 08
Personally, I'm taking pages out of the old timer's books right now. I'm making more things for myself, and learning how to make do without things that I don't really "need". Its a hard lesson to learn, but with just my bills now my expenses overrun my income, so I can't run out and buy the next new toy. On the upside, I'm far more self-sufficient now then I ever was, which is a huge benefit if I ever lose my part-time job or everything goes even more insane. I'm preparing for the worst and hoping for the best. :)
25 Oct 08
We have to set aside all our whims for now and start being practical...I guess this is one way we can cope with this tight situation. If we have jobs and are earning money, try not to overspend what we're earning. If we can still save even just a couple of dollars every pay period, we might as well do it. If we can't, then at least, just try living within our means. It will be all too tempting to borrow or apply for loans, but we have to remember that we'll have to repay this loans as well. And if our current income is already in deficit, how much more can we afford to make repayments? You'll just get deeper and deeper in debts, with or without you knowing it. Thank you for your contribution, my friend.