Are you doing without, or lowering your standards?

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Hermann

Hermann

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Now that the stock market and economy has sent a good deal or our wealth (retirement or general living money) to money heaven, have your cut back on luxuries or basics and to what degree. For instance, do you still buy non-essentials like bottled water, Coke or store brand soda, ect.

I make my living in a grocery store. In light of current market conditions our store just had a record quarter, and my bonus was 11.34% of my wages for the quarter. My theory to our success is that people are not eating out,(restaraunts around here are half full on Saturday at 7 PM) is they are relearning to eat at home and eating better than when they go out.

It would be great to hear opinions of this subject.
 
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I lost a lot and I mean a lot recently. Was laid off for many months also.

I bought an almost new Harley with cash and am now spending $20k for a new front porch. Paying in cash.

Now, I am a regular guy with a moderate salary, but I have saved most of my life TO GET TO THAT POINT! Have done without and saved to get things in life. I have not paid one Cent in CC interest in over 12 years. I save up and pay cash for almost everything.

BUT, I pay the price BIG TIME in lost savings valuation because of lowered standards to loan to risky people. Wasn't me, I put down my 20%+ for my home and chose a fixed mortgage... But I lose 6 digits because others didn't!!

So, no, I am not really doing without, because I don't have to - AS I HAVE PLANNED IT OUT THAT WAY!!
 
I don't understand topics like this. The mentality of people that think that since the markets are up and the world is booming and they have a few extra bucks, they think they have to go blow it on something they don't "need." I live, cheap, VERY cheap. I save everything I can during the peaks of the markets and the economy. I then have $$$ when no one else does in my area during these low points in the market/economy. I find it funny that everyone around here is cutting back and 'living cheap' all of the sudden and complaining about it.

IF you had to cut back during this slow down, THEN YOU ARE LIVING BEYOND YOUR MEANS, PERIOD.
 
No doubt private label products at your store are selling quite well...velocity has definitely up-ticked at many a big box from the data I have visibility to. One of my larger clients in the food distribution business saw a 36% drop in restaurant deliveries year to date...that should tell you something. I've also noticed the recent rash of downsizing and cutting of new UPC's to reflect the new net contents of packages...not too many "now 20% more" claims being printed on graphics these days. The major cereal manufacturers have all cut down from what I can tell, and many others are following suit. On another note one of my good friends at Diageo says life is good for him at the moment because a lot of folks are hitting the sauce to dull the mental anguish. I've always been one to stay within my means...I certainly don't like having paper over my head.
 
I started this thread to gauge why we are doing so good. Just looking for opinion from a large cross section of the population. The grocery chain I work for is employee owned. We are NOT a cheap place to shop. When the economy started to slide, I noticed the weekly specials suddenly were much better. We had 99¢ 32 load size, of a decent quality laundry soap. They nearly beat down the doors to get it. In other words we are drawin them in with door busters. Beings I also sack groceries up front for 10-20 minutes a day, I also notice that they are not only buying the specials. I was at a popular Tex-Mex resturant chain about a month ago at 7 PM on a Saturday evening. Usually at least a 20-30 minute wait. Now it is instant seating and the place echoes because it is so empty. Also the service and attention to detail in food quality has improved tremendously. I could get used to that level of service.

Like many who have responded to the thread I have many of the same conservative values of the responders. I have little sympathy for those who have $1000's in Credit card debt, and live beyond their means. The gravy train had to end sooner or later, just glad I am not on it.
 
I really have not adjusted my life that much...however on a side note instead of [censored] classes in high school try teaching financial planning, how to handle credit and everything else for real life not gym and all the other [censored] no one uses!
 
I've cut waaay back on my beer consumption. I'm starting to cut a lot more coupons when grocery shopping. My old 27" tube TV is going bad and I doubt that'll be replaced soon (I must be in the minority for those who don't have an HDTV yet).
 
I'm sorta opposite.

TV blew up the other day, meaning that the HD LCD was on the game plan...were never going to get one 'till the blow-up.

Need a new bathroom...not want, need, as 7 or 8 weeks ago, there was an almighty crash, as half the wall tiling came off...walls are asbestos sheeting, so I'm not reworking it.
 
goign well here, I am new to everything but watch my money carefully. although I am not too frugal and I enjoy life. Got a raise today so things seem OK. I am worried about the long term, but, I am stil making managed fund contributions, saving, with my pension in shares... she'll be apples.
 
Originally Posted By: Oldmoparguy1
If my standards were any lower, I'd be arrested for vagrancy.


I've been in perpetual damage control mode for almost a decade. I determined that supply side squirrel cage acceleration didn't get too far.


It was sorta like Kurt Douglas in The Final Countdown ..where the Nimitz went back the day before Pearl Harbor ..but no matter what they did ..it occurred anyway ..even though they knew it was going to happen.

No matter how I trimmed the fat and buffered the processes, the "creep" magically wrapped around them ..just like water seeking an outlet. If it wasn't taxes it was water&sewer ..it didn't matter.
 
Things are no different for me. I have always lived cheap. If it weren't for coupins, I wouldn't even shop at the grocery store! At the grocery store I go to, King Soopers, they are awesome with coupons. The more you buy of certain products, especially with coupons, the more coupons/savings they give you. I hardly even use generic coupons for things anymore - all of them are directly from the grocery store through the club card.
 
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That's it. No more movie rentals. Kids can just watch a couple hours of you tube.

Had homemade soup for dinner last night.

Oldest daughter brought home German (yeah I know) chocolate cake from her restaurant job. Breakfast this AM.

Oh wait.... those are my normal cheap habits. OK dogs get human soap. Oh....Chanch hasn't had a bath in months.....
 
Originally Posted By: moribundman
Originally Posted By: Gary Allan
Kurt Douglas


Is he related to Kirk Russel?


mori credited for spell check in aisle 5
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When compared with my peers I've always been considered very frugal. I'm 52 and still living in my starter home. I've save for years (decades) so I could buy my dream house in a better neighborhood. Those dreams went up in a puff of smoke last week into money heaven. Plus, as an automotive engineer living in Detroit, I never know if I'll be working until retirement. I still have a ways to go.

I can only hope this crisis will drive down the price of homes even further. After all, who could possibly afford to buy a house now?... with what?... their savings (gone)?... credit (gone)? If you have to sell, the price has got to come down even more!
 
I have no time to go out to eat or shop for food so my lifestyle hasn't changed much. Mine is a once a week affair to cook something in the slow cooker overnight and then survive on that for a week or so. Or warm up frozen ready made stuff. I don't know what my wife eats as I only see her maybe half an hour a day.

The only effect from the market is that my health status changes whenever I look at the indices but that's another story.
 
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