Is getting me down! I am really worrying about the recession/depression thing with all the news stories about rising prices, foreclosures, job loss and just general economic badness.

Cheer me up! We had a good thread about tips for surviving. Now tell me about what you have already done to prepare and how/why you are going to make it through okay.

I will go first:

1.I have begun a good stock pile and am continuing to add to it.

2. I have begun to make plans with friends for a canning party or two later in the season. We are going to get free blackberries, apples etc and can up a storm.

3. My debt will be gone just before the next budget exam at our company. If I get laid off I will own no money and if I don't I will be in a position to build up savings quickly. Several years of eating at home are starting to pay off :)

4. My sister and I have combined households and are living together to save money.

5. Our family grouses at each other but when the going gets touch we all know how to pull together. Collectively we could make it through the worst case senerio because we would have each others backs.

6. I do not have a degree but I have lots of skills and have worked as a CNA and supportive care staff. There are always sick people so I, hopefully, will always have a job, even if it's not my first choice of employment.

I feel better all ready!

Christine

I think sharing living space is a great idea! I was really trying hard to get my brother to move in with us but he decided to rent instead. Now He has to work side jobs to make enough money to cover his rent. I hope when his lease is up he reconsiders.


I haven't done much except to build my stockpile and to put a freeze on all my spending so pay things off and get some real savings going.

I've stockpiled a years supply of food, paper products, firewood, toiletries and OTC meds. we have a 4 bedroom home with three bedrooms we could rent out if need be. We have an emergency fund and dh has a 401k we could borrow from if we had to. I have a good knowledge of frugality.

It is gloom and doom, but some how we will make it, thinks to this site and all of you follow frugalites!! Love you all.

Don't let it get you down too bad. We will all get through it. Our parents or grandparents did, and that was a real depression.
I think the media has an agenda. They seem to want to start panic for some reason. Things have been worse.
I personally have:
1. Stockpile (but I always do)
2. Garden and can/freeze (But I always have)
3. Have no bills except basics like utilities
4. Got house and car paid off within last 2 years
5. Don't drive anymore than I have to
6. Make most of my gifts throughout the yr.
7. Be charitable to others who are having a "truly" hard time

Great idea to share housing, because hat enables you to share sooo much more. Keep your chin up. Things will be alright

I have started cooking more things from scratch

I have a self-imposed debt repayment plan in place and I am counting on being debt free by the middle of 2009 if all goes well.

I am working on a baby EF and I am trying to pay less than I budget for material items and services so I can keep more money in my account.

I have a degree and plenty of different types of work experience so I hope I will always be employable.

Well, I am jealous of you ladies as I haven't done much but:

~ Start a stockpile (I have basics - Spaghetti, sauce, canned items, etc.)
~ No spending on things that arent needed
~ No driving unless I have to otherwise I can walk.
~ Paid off all debt, ecept mortgage and will always have basic utilities so that's a plus
~ I have an extra bedroom I could rent out if needed
~ Keep utilities down

I also could always cut out home phone service or cell phones (would have a early termination fee but might be worth the $125 a month savings!)

I have a good pantry set up, but have had to use alot of it over the past few months since so need to add to it.

I have an extra bedroom I can rent out and live near a university.

I no longer eat at restaurants or order pizzas, etc.

I limit my driving to save costs.

I have drastically reduced my use of all utilities to save money.

I dropped cable a little while back. Don't miss it.

Planted fruit trees last year and will put in a veggie garden this year.

Bought canning supplies last year at end of season on sale.

I started living a more frugal lifestyle.
Way less eating out.
We could squeak by on one income, but my 32 hours a week is a good safety net, so I'm not giving it up.
I cut our utilities way down (hanging laundry, shutting lights, heat way down, etc.)
I only buy second hand items (most of the time.)
I don't really stockpile food, I just don't have the extra cash right now to do so.
We pay 300 dollars a month between preschool and kid's activities, if things were dire, we'd give those up, but right now there's really not a need to do so.
I only drive when necessary. Cut out my drive-through coffees to a minimum, but I can't say I never do this anymore.

1.)We have no debt.
2.)DH has a career that will always be needed. ( Except under the reign of the Lord, and if that is the case, there will be none of these issues)If I had to, I could also work and increase our income.
3) I know how to can and preserve food. I have a garden, fruit trees, and cheap access to meat and poultry. I know how to fish.
4.) I have old timer neighbors who are willing to teach skills, or barter them.
5.) We have a wonderful savings, and assets to fall back on.
6.) Our family has been frugal, and made sound financial choices. We do not need to provide economic outreach.They are self- sufficent.
7.)Our home is spacious enough, that in a time of dire need, we could rent out areas, or join family living.(Though we would all see this as a last resort.)
8.) We are optimistic. It has helped through tough times.

I wish I had some of those canning and gardening skills you ladies have!

Here's what I have done:

1) Making extra payments to my student loan...hoping to have it paid off by 5/09!
2) Have pantry fully stocked and am continuing to add when I find good sales (even though it's pretty packed now...I'd rather have too much than not enough!).
3) Combining all driving/errands to keep gas costs down
4) Have established savings plans for our EF, for a moving fund (moving next year), and to save for one class I need to take at the college (will pay cash, in full, when it starts).
5) Line drying some clothes to save on gas/electric and dryer sheets!
6) Cooking from scratch for about 95% of our meals
7) Eat out only one time per month and that's a pizza from Costco for $9.95 (lasts two meals, so comes to $5/meal for Dh and I...and it's a great treat!).
8) Selling things on craigslist as quickly as I can to make space here and to earn extra $$.

Guess that's about it? I know there's way more I could do!! I *was* doing all our baking from scratch, but just don't have the time with working outside the house again... Still hoping to do that at least once a month...as schedule permits. :)

We've always lived frugally, but found great contentment with that lifestyle. Since both of us are now retired, we've had to tighten the belt more, but it's working out. No debt is the major reason we aren't worrying too too too too much (note that I didn't say entirely!). We've always stockpiled, although now that we are contemplating moving, we are trying to work it down. We keep an eye on the markets (thanks, Sara, for your links to market stories). As far as extra jobs, we both teach a couple of classes for the local university. And there is always a need for substitute teachers. I really don't want to sub, but know that I could if I had to. Sub pay in our area is $100 a day, and all you need is 60 college credit hours. My biggest gloom and doom fear concerns our health insurance. It just keeps going up and up. Our family is pretty tight, and we know that we can lean on each other if need be.

I have an emergency fund started.
I have an enormous stockpile of both food and non-food items.
My job is somewhat stable, since cars will always need fixing.
I have excellent sales and customer service skills, so could quickly get a new job if I had to.
I am nearly debt-free except the house, one more to go which will be paid this month. My bills have dropped $600 a month over the last year of becoming debt-free.
My kids aren't greedy. They understand the value of a dollar.

Nobody mentioned relatives??

Well I'm not nearly as prepared as most.

I have a decent stockpile and continue to add to it
I cook 98% of meals at home
I line dry at least 2 loads of laundry a week
I'm preparing to plant a small garden this summer
Just bought a freezer to help with grocery budget
We've turned down heat and reduced h2o and electricity
Best thing we've done is just the other day I paid off 1 CC and most of a 2nd. The second CC will be paid off in June (if not sooner).

Hubby is an auto mechanic and there are always people who need repairs, so I hope there will always be a job for him. I could always go to work (doesn't matter to me where, because money is money when needed)

Thanks everyone one for your great answers. It's good to read about how people are preparing and just generally doing sensible things (even if we weren't facing economic difficulties). It lifts the spirits.

I remembered two more things I have done.

Rebuilt my emergency fund. Its up to $665 and since I have paid off the loan I upped my biweekly contribution to $100 dollars so it should grow quicker.

I go with friends from work at least once a month for grocery shopping. They have a Costco card so I drive over with them (they go every pay day) to pick up what is actually cheaper there and buy them Costco lunch. Then we go next door to Winco and do our regular grocery shopping. Saves my car a trip and I don't have to pay for a Costco membership. Since a Costco hot dog doesn't actually even things out I also will go over and help them with stuff around the house once in a while, yard work, home improvment etc.

Christine

I applaud you ladies you are doing great....I think my greatest thing is paying off my credit cards and automobile and developing a frugal mindset. I am a registered nurse and I figure that I will always have a job.