Yes Rooted, so far I am in the same boat as yourself. Actually did a thing I don't nornally do to-day ie spent some $US16:00 ($AUS26:00) on three snapper this morning. They are a bit big but wanted these three for lunch guests to-morrow. And I was not going to change the menu I have planned. Ah well.
I am doing fine as have ComSuper penion and thankheaven for that. The super was the reason why I joined public service. Plus other assests are in a core based super fund, it lost some 6%, which is liveable.
So far and although some in Australia are losing jobs, we as a whole are not doing too badly. However vegies, fruit, milk and its products, fish and supermarket prices(meat seems to be okay so far) have all gone up. Thus some on Employment Benefits are not doing too good, well they never were actually. Drought and the economy have something to do with the prices rises.
However, in spite of the $42,000,000 that Rudd is pouring into the enomony(sp) I don't think that we have seen the end of this by any means. Property prices down, thus some have lost on their investment properities. And Australia is going to be hit more than it is at present. Tis a wait and see game.
We are lucky in that our banks are all stable at present.
Well i live in
England....and the prices on food shopping has gone up considerably.....I have to be careful what things i am buying because i don't have a lot of money....I hope it stops soon.....Jenny
I live in the US and so far my husband I have not had to change much as a result of the economy. We did go ahead and sell some stock in companies before they fell any further. A positive thing is that because of the low housing prices we were able to get a great deal on a duplex and had it rented out with in a week of advertising. If you have the credit and a downpayment, then purchasing real estate, either to live in or rent out, is a really good investment right now. With the mortgae companies tightening up on lending practices, more people are going to be forced to rent rather than own...so more cash in your pockets if you are the owner of rental properties.
Hey great that you and your husband got rid of some of you stock.
I feel in and had some of mine in bonds etd. Lost about 6% but that is okay, as not my main source of income.
Was thinking like you to go into real estate, but am retired but this does not mean I would not get a loan. They cannot discriminate on the grounds of age.
It would mean moving money having a loan and I am not that sure I wish to do this at this time.
It is most certainly a buyers market.
I can never understand for the life of me, why people and even if the banks etc will lend to them, why these people do not realise that they do not have enough income to pay their loans and do not factor in an increase in interest rates. Or the cost of the various ultities.
Here in Australia there is a bit of blaming the banks. The last time I looked adults were responsible for their own actions.
I'm eating out less, prices at resturaunt have jumped up as much as 40% locally. But I'm spending a lot more money in other places. There have been a lot of very deep discount sales over the last year. I've probably trippled my consumer spending just on things I've been wanting but couldn't justify the expense of.