Personal finances

Re: Top 50 forum: How are you coping?

dragon777 — Wed, 18 Mar 2009 21:32:31 GMT

Long time pittsburgher, graduating pitt student with a few professional friends in and around pittsburgh.

In regard to the statistics about pittsburgh surviving the recession. It is true, the good economy is due to healthcare, education and research, banking, and construction projects. Our commercial real estate market is also doing well. This is one of the best cities to be in during these hard times it seems.

However, as leaders we must know that we could take a plunge at any time and the recession is still boiling very hot.

Our major university has already seen a major salary freeze set in place, top pittsburgh firms have laid off workers across the board, and PNC has had talks about a major layoff, a major one indeed.

In addition, foreclosures are on the rise.

And yes, there are major construction projects employing lots of blue collar workers but what happens when they end and investments dry up? There is no guarantee the nation will be out of the recession by the end of year. That is a extremely big promise by Mr. Obama.

Not to mention residents, as usual, are extremely disgruntled about new projects. Face the facts ma and pa, your time is over, if we are going to attract more young professionals and more young leaders to Pittsburgh we need to modernize. The t line is finally becoming a real subway system and is an excellent first step. Amen folks!

Say a prayer diplaced pittsburghers that we don't end up like the rest of the country!

Re: Top 50 forum: How are you coping?

Traffic — Fri, 06 Mar 2009 15:03:52 GMT

I am not sure what the definition of "living within your means is." I think if you can pay bill your bills every month, then you might be doing that. But to you point, northhillsmana, if some of the debt is credit card, then you probably are not, for sure if you are paying the minimum payment (and thus paying interest). We put things on a credit card (gas and groceries) only to pay them off each month; we do this to get the money directly off our bill, and we have done this for five years and have never paid a cent of interest.

I do have a car payment, but I pay 0 percent interest. I have enough in savings to pay off that car, but why would I want to do that? Dave Ramsey would say I should do it (he would also say I should not have bought a new car to begin with, and since it was a Saturn/GM, now I am wishing I had not). Then again, it is not as if I am earning too much interest on that money in savings (I think .65 percent currently).

I too sometimes wish someone like me, who pays her bills every month and does live beneath her means, would get something from the stimulus package, but I more wish that undeserved people would not get anything.

Re: Top 50 forum: How are you coping?

jghandymann — Fri, 06 Mar 2009 14:39:13 GMT

Hey Sugarmagnolia,

How's that nice steak taste everynight while down the road you have little kids starving? What are you going to do when the market crashes and you loose that money from the 80's.

Don't make comments about people who you no nothing about what they do or how much money they make. I happen to come from a very promenent family that lost all their money in the stock market crash in the 30's. The family lost big. Remember that when the banks fail and they will within the next year that the government only covers $200,00.00 of what you have in the bank.

High paying jobs are a thing of the past and this country will fail because of greedy people like you that don't have a clue as to what's happening in this country.

The middle to lower class people who realize the value of life and not the all mighty dollar will be fine and be able to roll with the punches, but will someone like you be able to handle actually having to work for a living?

I am a devoted republican that stands for the people and fought for his country which now has left me a disabled vet. What have you done for this country? Take the spoon out of your mouth before you speak. You probably never worked a hard day in your life.

I also have three kids in college and my last one starting next semester. I have a son that has his own paving company and works hard everyday of the year. They all have worked hard and saved for school and will succeed. Do your kids even know how to run a vacuum? Or are you just a kid coming out of school?

I have a nice house, new car and a newer truck(saved and paid cash). I haven't had anything handed to me and worked hard my whole life. The biggest thing though: I really enjoy getting up in the morning and living for each day. DO YOU?

Last thing: It's attitudes like yours that put the USA in this position of failure. I hope your going to like the comunist society that the US is becoming....

Re: Top 50 forum: How are you coping?

bossman — Fri, 06 Mar 2009 13:54:57 GMT

I'm coping. I'm paying my bills. We've made a few adjustments, not because of the financial situation in the country, but because of some serious health problems that I came up with this past fall. Today, much money is spent on medications.

My concern or question is ...How do I get some of this TARP, or whatever you call it, money to help me pay my bills? If I am in default of something, it looks like I'm able to get some help. If I'm paying my bills, however, it looks like I'm paying for somebody elses bills and the heck with me. Lower my rates or payments to help me out too, instead of just helping deadbeats.

I'm afraid this regime doesn't have a clue as to what is going on.

Bossman Mike

Re: Top 50 forum: How are you coping?

David Marks — Fri, 06 Mar 2009 12:33:15 GMT

When the stock market crashes(my prediction it will) the adverage person I know isn't going to hurt much. Because in Pittsburgh we still live within our means.

On the contrary, if the stock market "crashes" - and I assume you mean falls much lower than it already has - then investment in American industry will dry up. While several hundred thousand workers in southwestern Pennsylvania have already lost a significant portion of their retirement accounts because of the falling Dow, if the market loses another 6,000 points, Pittsburghers will see more than 25% unemployment and larger cities will fare even worse. We are all intertwined economically in this regard.

Farmers can't afford to farm anymore

Corporate farms are successful and are supported in part by taxpayer subsidies. The United States produces enough food to feed this country and dozens of others, and the government gives away millions of tons of food every year to poor nations.

There's enough money spend on stupid grants and programs that should be redirected back to the people.

Uhhh... the "stupid" grants and programs are specifically designed to redirect the money to the people. Which grants and programs do you want to cut?

Make all hospitals and clinics government controlled.

And you can be the first one to tell surgeons, internists, registered nurses, anesthesiologists, and hospital administrators that their pay will be cut while the government demands that they serve those who would never care for themselves, let alone their children.

Put a Maximum Wage

Deciding what others deserve for their labor is truly pure socialism, unlike the rhetoric that conservatives are spewing about President Obama's stimulus plans. Government imposed ceilings on wages and earnings are not the way to go now or ever, and could slow down the performance of thousands of small and medium-sized companies that rely on entreprenuership and capitalism to be innovative, to create better consumer products and encourage job growth.

I could write a book on how to correct the United States but who would read it because I'm not educated

Hey, you keep writing. At least you are thinking, unlike millions of Americans who sid idly by while our values erode and our wealth disappears. Never discount your opinion while remaining open to learning and rethinking.

Re: Top 50 forum: How are you coping?

northhillsmama — Fri, 06 Mar 2009 05:37:17 GMT

I'm surprised to see a few commenters who state that they "live within their means," yet in the same breath, say that they have a car payment and/or credit card debt.

If you have debt, you are not living within your means. "Living within your means" means that you're able to pay cash -- not simply afford the payments.

I'm not living within my means right now -- I have a car payment and that's my only debt. I'm hoping to pay it off this summer and once that happens, I'll continue to save money like crazy. I hope I never finance a car purchase again.

Sure, you might be able to afford the payments, but if you can't afford to pay it off today, then you're living beyond your means and you should recognize that.

Re: Top 50 forum: How are you coping?

OneChuck — Wed, 04 Mar 2009 23:58:50 GMT

Mr. clem_31:

Thank you for the extensive, common-sense reminders. The only problem I have is downsizing the (my DirectTV) because NFL Sunday ticket insures that my family sees the Steelers.

Re: Top 50 forum: How are you coping?

clem_31 — Wed, 04 Mar 2009 20:35:06 GMT

In 82 years of life I have learned a lot about dealing with hard times. It is hard to cope with a recession when it is upon you. If you are there now it will be difficult to adjust to your new environment, but you can adjust your living style to help you cope with this new situation and be ready for a better life in the future.

I have many ideas that may help you adjust.

If you have 2 vehicles get rid of one of them. The savings will far exceed the inconvenience.
Do your own oil changes and minor repaires on the auto. Buy the cheapest gas you can find. Wash your car instead of a car wash. If you need a car buy a used car with an inspection by your mechanic before you buy.
Start a garden. A 20 by 40 garden will supply enough produce to supply you during the summer months and you will have surplus you could process for canning or freezing.
Start your own seedlings under a shop lite to eliminate green house expence.
Learrn to process food for canning and freezing. Information is on the internet and in the local library.
Buy used canning jars at yard sales.
Buy a used freezer to store frozen food.
Buy frozen food and meat when they are on sale to put in the freezer.
Downsize your internet connection, cable Tv connection and phone service.(Cable Tv can be eliminated if you have an outside antenna.)
Eliminate your mobile phone or go to a system where you buy minutes as you use them.( You got along for years without the service).
If you have access to wood buy a used wood burner.
Cut your own wood.(Many farms have had timber cut recently and need cleaned up. Ask the farmer.)
Buy an automatic thermostat that take over controle of house temperature.
Buy clothing at a used clothing store.
Eliminate paper towels and buy a supply of good cotton towels that will last for years.
Eliminate napkins by purchasing cloth napkins.
If your destination is a mile or less from your home walk instead of driving.
Pack your lunch instead of eating out if you work outside the home.
Eat out less often or not at all.
Serve scratch meals instead of prepared boxed meals bought at the grocery store.
Use discount coupons at store but don't overbuy .
Shop for sales items, but don't use gas to go from store to store.
Pack your childrens school lunch.( You can control there diet this way and save money.).
If you live on a property in the country and have enough property eliminate garbage by recycling, burning and composting.(Be sure that local ordinance doesn't prohibit).
If you have enough property dig a pit to bury ashes etc.
Mow your own lawn.
Plant your own shubbery..
Do your own repairs around the house.(easy to learn on internet or library).
Change light bulbs to new florescent bulbs as they burn out.
Clean your carpets with a rental machine instead of professionan job.
Do your own painting.
Eliminate vacation trips.( consider camping).
Don't wash clothes until you have a full load.
Wash lightly soiled clothes in cool water.
Hang clothes out to dry in place of putting them in the dryer.
Use wash and wear clothes to eliminate ironing.
Don't iron sheets,towels or underwear.
Turn water heater down to 120 degrees.
Turn off computer and television when not in use.
Don't use television for a sergeant friend.(turn off if not really interested).
Turn off lights when leaving a room.
Wear heavier clothing so thermostat can be turned dowm.
Close off unused rooms.
Use fans in summer time instead of are conditioner on moderate days.
In summer open windows at night and turn off air conditioner.(close windows in morning to retain coolness and don't start air conditioner until inside temperature reaches 74.)
Get 3 bids before you start remodeling.(use a relible, licensed and bonded contractor.
Don't buy from over the phone unless you made the call.
Pay off your credit card every month on time. Don't carry a balance.
If you can't afford it don't buy it!
If you need a big ticket item buy it on 12 months same as cash and be sure to pay it off in 12 months or you are stuck with all the interest.
Buy at discount stores when practical.(Aldi,Dollar Store etc.)
I hope this some of these suggestions are helpful and you can get on the right track to a cheaper way of life.

Re: Top 50 forum: How are you coping?

nixiejen — Wed, 04 Mar 2009 18:24:32 GMT

Geez Teach, cheer up. Ur in the same boat as most of us. My wife just lost her job at UPMC which only gives us my Pension with 2 kids. Be thankful u can buy PASTA, my ancestors (Italians) lived on Pasta almost every nite and most times it was homemade. Homemade soups are the best. Healthier and low cost. Now as for ur therapy, I'm not a Doctor but I know therapy is $$$$$$, maybe u could use that $$$$$ for something better like better meals. All the best to u and your Husband's new Military Career. BTW, I'm also retired Military and know that ur husbands pay will be more than my Pension. U will also be receiving BAQ and BAS.

Re: Top 50 forum: How are you coping?

clem_31 — Wed, 04 Mar 2009 16:57:38 GMT

Re: Top 50 forum: How are you coping?

sugarmagnolia — Wed, 04 Mar 2009 14:47:48 GMT

Ditto georgeo.

And jghandyman, no one deserves to make over $500k? Why, because you don't? I'm sick of all the people whining about others who make a lot of money, just because they don't. Sometimes in life, people are going to lose, or make more than others, or have a nicer house, or have a nicer car, or go to college. We can't all be winners, despite Obama's desperate attempts to make it so.

Re: Top 50 forum: How are you coping?

georgeo — Tue, 03 Mar 2009 21:24:30 GMT

Who cares, A newspaper with standards equal to the weekly world news? yeah right. Please get more tax money, maybe you can buy a real journalist.

Re: Top 50 forum: How are you coping?

turtle12 — Tue, 03 Mar 2009 17:07:05 GMT

I have decided to bite the bullet in bill pay. Each month I'm going to pay off a debt starting with the smallest one to the largest one until I'm debt free. I have no idea what is going to happen with the economy and i think I would be safer just paying off my bills instead of just making payments. I have so many bills it will take a least a year and I'll probably ruin my credit history and score but at least I'll be out of debt. I have a nice home and the only thing I'll probably need is to update my car only when it becomes unfixable. It's good that a lot of companies are bringing back lay-a-way. I'll shop at those stores to make ends meet on things that I really need (not want). I'm also going to close my accounts as I pay them off. I know they say this isn't good, but once I pay them, I don't want to be able to use them again if I get into financial trouble. I'll keep you posted on how this goes and if I make it.

Re: Top 50 forum: How are you coping?

willowthedog — Mon, 02 Mar 2009 15:28:11 GMT

I graduated with a masters degree in December with high hopes of a great job in the Pittsburgh area. I was disappointed to have to take a job not even related to my field with below-average pay. On the bright side, it is a job, and I am keeping up with my bills, something that a lot of good people can't do right now.

Other than that, I'm trying to pay down my credit cards and I'm making sure to put additional money aside. I don't have much money to throw around to begin with, so I have to be pretty discretionary to begin with.

Re: Top 50 forum: How are you coping?

Traffic — Mon, 02 Mar 2009 02:09:21 GMT

I have not done anything too differently but, so far, my husband and I are still employed, We have always lived beneath our means, so we continue to put $ in savings each month. We have one car payment and a mortgage, and no credit card debt. If, however, one of us finds ourselves un or under-employed, we would probably do the following: get rid of the HD DVR, go down to a lower cell phone plan, stop going out to lunch once a week, get rid of On-Star, and obviously stop putting money into savings. Shopping at Kohl's is also my weakness; I spend probably 50 to 100 bucks a month there, so that would go too. We don't spend a lot of excess, so it would be hard for us to cut a lot out, but every little bit helps. I can only hope it does not come to that for us, but we have been there before and made it through. In today's economy, you need to buckle down. If you are not putting money in savings and you are working, you should start. Cut stuff out. You may be sorry later if you do not.