Are you afraid of the economy on the skids? Are you affected?

gcvmom

Here we go again!
I am far enough from retirement that I feel fairly confident about our retirement money being able to bounce back and catch up over time from whatever hits the market takes now or in the next 4 years.

husband's job is very secure -- he's in Information Technology for the investment industry, so that's not a concern either. He could get a job just about anywhere with his skills and experience.

What worries me MOST is husband's lack of fiscal responsibility which puts us into serious credit card debt on a regular basis. We get lucky and have a windfall that bails us out usually, but I DO NOT like living this way. It is frustrating to see financial opportunities come up that we CANNOT take advantage of because we're so much in the hole with no cash reserves. If he had the same money ethic as me, we'd be sitting really, really beautifully right now. House would be paid for. We'd probably be able to buy a small place for his parents (who currently rely on his sister for housing and us for their medigap coverage). Kids' college funds and retirement accounts nice and fat. And he would probably be able to retire early. But that's a pipe dream for someone like him -- at least he's got me to try to keep us above water...
 

Hound dog

Nana's are Beautiful
Oh, and I have an insider tip. Shhhh, don't tell anyone. But.........now I don't know if this is just here or nationally.........

But Nichole's boyfriend is the President of 5/3 bank here, and a big wig at the one in cincy. Seems 5/3 rd is in major trouble. boyfriend's Dad is thinking they'll be closing soon. He's worried because he has some major money tied up in the bank himself. And he told Nichole and boyfriend he'd warn them beforehand if he can. Both kids have accounts at the bank. Poor man is ready to have a nervous breakdown.:anxious: Hopefully something will bail them out before they need to close.

You did not hear this from me. I did not hear this from them..........it was a passing mouse that Bruce was talking to on his way to the litterbox. You know mice, they never know when to keep their traps shut.;)
 

SRL

Active Member
We don't have a lot of savings but we've kept our debts low. We made a big downpayment on our house and are halfway through our 15 year mortgage and we've just a little left on our van payments. Two weeks ago that sounded like we were doing well to be there but this week I sure wish I'd been more frugal and knocked more of that off.

Yesterday I was across town doing errands so I stopped into the credit union to tranfer from savings to pay off the credit card balance. The teller told me "twenty eight seventeen" and I about had a heart attack right there, thinking my husband had gone ahead and ordered the windows we needed. Turned out the balance was $28.17. Whew!

I also did go and fill all of the prescriptions we needed that had refills just in case there is a disruption. It was a killer on the checkbook balance but it's stuff we'll use no matter what and I'd rather be prudent than sorry.
 

timer lady

Queen of Hearts
I'm terrified of this...husband feels that his job is stable & will continue for a good long time.

Our debt isn't too high (except medical bills) however our credit was ruined when I worked part time & husband was going to school to finish his degree. If I needed a loan right now I'd be out of luck.

I've watched our spending & continue to do so. Our big expenditures are on our home & much smaller are on our hobbies (music & art for all 3 of us).

I just don't trust what's going on with bank failures; no honest answers from executives or our politicians.
 
N

Nomad

Guest
I'm affected and have been very respectful, careful and watchful.
I have cut back on my spending and am prepared to do more.
I am trying not to be terrified.
 
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