I am thinking this financial crisis that we have brewing in the US is getting to be a little serious. We found out this week that many student loans are being frozen and students who got their paperwork done later than others are not getting their loans!!
Thank goodness we got Breanna's loan application and FAFSA stuff done on time, this could have had a direct impact on whether she would have been able to continue on in school.
So, what are we supposed to do? Banks are not loaning money on cars, mortgage companies are foreclosing on people who cannot make their mortgage payment, credit card companies are bordering on hysterical when it comes to collecting money owed to them, this is getting ugly, very ugly.
Dana and I are blessed that we are both in healthcare right now, even though I complain about it more than I should, at least we have job security. People continue to get sick and they tell us that Medicare is solvent, (this is yet to be seen) so the hospitals are being paid, so far....
One of my coworkers has now drawn out 2 months worth of money, and put in her wall safe. Her friend with a Masters degree in finance has advised her to do this. OMG are we going to resort to burying money in old coffee cans in our back yards???
I am afraid it is going to get worse before it gets better, EEK!
Saturday, October 4, 2008
Shall we bury our money in the back yard?
Posted by Tonjia at 4:07 AM
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11 comments:
I am afraid you are so right. It will get worse before it gets better. I fear the future. My husband has a huge retirement fund set up and it is all we have. We do not get SS as fire fighters and police we do not get it for we are state retirement and did not pay into it. I think that has now since changed, but when we were serving that is the way it was. So if he loses all of that invested money, we will have nothing. NOTHING. Scary, you are darn right it is. Thank goodness we sold the "big house" when we did and moved back home. Thank goodness we have a small home and a very small house payment. thank goodness we are in good enough health that we can work still. Thank goodness we are two of the lucky ones for right now. We have much to be thankful for!
Um, wishing I had money to bury in the backyard? Many people are not looking at this right. I don't trust the Government much anymore, but this is not a test. This is real. The alarm is sounding. Healthcare will ALWAYS be there. David just said this to me this week. Unfortunately, there will always be prisoners for me to serve. Is that good? Well, for me it is LOL!
I'm really cutting back here. If I don't need it, it's cancelled. Do you think I need Netflix?
I am right there with ya, Tonjia! Actually, I'm also kinda right there with Bre. Darn good thing I got into school when I did! And I also just moved some money around a month or so ago; now I wish I would have moved it all. All fifty dollars of it...BWAHAHAHA! Seriously, the way I said it makes it sound like I have a lot, and that's not the case. Coffee can in the backyard is seeming pretty smart to me right now. And I'm also glad I'm not real into material things because I don't think it's a real good time to be out conspicuously consuming. It's gonna be really, really interesting to see how things turn out.
In the meantime, if you need to find me, I'll be out in the backyard. Digging. :)
Scary times call for strict measures. I have money tucked away here, too. Just wish I could remember where I put it.
Just wanted to remind you that OU is playing this morning. In fact it is on right now!!!! Just started, so hurry and turn you tv on if you haven't!
This has been a while coming and is not a surprise. People have been living well beyond their means and being irresponsible. As a result, it is going to affect EVERYONE in one way or another. For example, we've been great fiscal managers over the years. But it is taking a l-o-n-g time to sell our house. Much longer than it should have taken. Good thing that we are living well below our income (retirement income now)!
People need to tighten their belts, in good times or bad times. It's a hard adjustment to make if you only do it during the bad times.
I blogged about this recently. I am worried too. My daughter in college wants to withdraw money from her college fund to buy herself a laptop. It's her money, she can do with it as she wants - with the stipulation it goes to college stuff. It wasn't a whole lot to begin with BUT, the funds TANKED recently and I've suggested she wait until it recovers some before liquidating some of the stock. I *think* she understands, but she's also 19 and wants a laptop very badly.
I also wondered if student loans would be effected. She's got hers in for this year, but who knows what will happen when she reapplies for next year's loans. Scary.
This whole thing - the economy, politics, the election has got me fretting. And I am not a fretter.
It is a scary world we live in. KJ got her hospital bill yesterday. I doubt she lives long enough to pay it off and that was with a $12,000 discount for having no insurance. Michael hasn't even been out of school six months and they are already calling in for payment on his student loan. I guess we'll have to just take care of each other in BlogWorld...neighbors did barn raisings for neighbors so we'll just keep everyone in food and utilities in our little blog world here. Money to put in a coffee can...what is that? I just counted out my piggy bank and I've got $7.20. Good thing God is an awesome God!
my farmer neighbor says we need mc cain so we don't spend money on health care and socail programs, can keep the war going in iraq, will put the economy back together, and has a vp that isn't afraid to shoot wwild game from helecopters
I am glad you posted about this-I have silently been freaking out about all the financial turmoil going on. We have felt the crunch big time-I don't remember the last time I went to Walmart or Target not really bought groceries. No disposable income for sure!
I am now worried about Taylor's student loans for next year!!
I really think it has come down to NOT depending on the Govt. to take care of us (which in our case is really scary) and becoming a community who helps out each other-wheter that community is a church, friends, the town you live in etc..
I too talked to someone the other day about the whole barn raising idea from the old days-helping out each other. I am having a really difficult time emotionally right now and I think so much of it is worrying about finances-will we be homeless or without electricity?
I can't beleive I am even saying that-something needs to change and fast.
Tracy
I keep thiniking that it would be better to have the money out of the banks than in. They certainly are not super reliable these days. Two banks in Las Vegas alone have closed int he past two months.
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