Jana and I just had a long talk about money and the future. We’ve got two children in public schools, Jana’s a grad student at UCI and I basically an employee of the State of California, so the Governator’s promised “Financial Armageddon” could make things rough in the coming months. Certainly it’s introduced (or at least highlighted) some uncertainty and insecurity that didn’t exist before.
The University of California system is making unprecedented cuts to programs, to staffing, and to student enrollment. Having lived through a few economic hard times (as a bank employee during the savings and loan crisis of the early 90s and a dot com programmer during the tech bust earlier this decade) and a half-dozen layoffs, I sometimes feel like that guy in Poe’s Pit and the Pendulum. I wonder if the next swing is the one that cuts.
All this has me wondering how the rest of you all are doing. Do things look pretty bad in your region, industry or stage of life/life situation? Come, let us commiserate together, and maybe we can find comfort in at least not being alone. Or maybe things look good for you, and you can send a few rays of hope in our general direction.
12 responses so far ↓
1 Jana // May 19, 2009 at 9:43 pm
I feel a bit better after our chat tonite. We have plans, plans, and then contingency plans. But I have to say that today left me a bit battered as I realized just how deep the impact of the recession is affecting my chosen career path.
2 angryyoungwoman // May 19, 2009 at 9:55 pm
I am poor, have always been poor, will always be poor. I don’t mind particularly because I am single and I don’t have anyone depending on me for survival. I’m paying my bills ok now, but food-wise I am surviving on instant-breakfast shakes. They have vitamins and everything, but they aren’t as yummy as real food.
I’m worried about medicaid and medicare. I’m scared about my services being cut. I’m worried about my disability payment going down if things continue getting worse.
On the other hand, they say things are starting to look up and that we should pull out of this slump soon. I’m keeping my fingers crossed and staying optimistic.
3 leisurelyviking // May 20, 2009 at 8:22 am
I’m doing okay for now. I’m finishing up my master’s degree in Washington State, and my guy has a summer job and just moved in, which cuts expenses a bit. At the end of summer I graduate and we’ll be moving and looking for jobs though…
4 TammyT // May 20, 2009 at 8:57 am
We’re not rich, but we can go to a movie without thinking too much about whether we can afford it (that’s the litmus test, right?
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We have safety nets lined up if need be. We have some money saved up, about one or two month’s worth.
My hubby has few friends in the industry who are taking turns helping each other out when need be.
We used to live off of mac and cheese and ramen when our 1st was born. Although we wouldn’t want to do that again, we know how.
We went from two cars to one about a year before the recession hit in full force.
And we have had all of our credit cards paid off for years. So we do have quite a bit of credit at our disposal in an emergency.
We aren’t 100% secure, but so far, we haven’t had to tap into our safety nets.
I have been trying to declutter, and selling things on craigslist for next to nothing or giving it away on freecycle. I hope I’m helping some people who are in a bind live happier and fuller lives with things that would otherwise be sitting around and not being used.
Having friends and family as our support crew is what always got us through our tough times. That’s the key.
5 Steve // May 20, 2009 at 10:34 am
We’re doing well. My industry has been killing off the smaller studios, which is making it hard for everyone, but the large studios are hiring more people than ever before to take up the slack that is left by the disappearing boutiques.
My wife’s job has been hit pretty hard by the slump- No one is buying so China isn’t shipping so her truck drivers have little to no work.
We’re good for a year- we’ve been saving like nobodies business- and the only debt we carry is our house. (Car’s are paid off, no credit card debt…)
We’re hoping that things rebound, but personally I’m hoping that things rebound in a different way- universal health care would allow our family to not rely so much on the job to provide it, and other things would make things… nicer.
But yeah. It’s good to know we’re temporarily ok for the time being…
6 xJane // May 20, 2009 at 12:41 pm
I always hate not having a job, because money = power to my parents (though, luckily for me, not to DH) but right now I feel like a major drain (as opposed to simply not a contributor) to our finances as I rack up loan after loan for law school. I’m hoping that I’ll have a pseudo-job next semester, which will go toward my peace of mind, even if it doesn’t pay much.
We’re in pretty good shape: cars are paid off, little to no debt (credit cards get paid off each month) other than my student loans!!!, and DH has a job. Summers are always lean because DH doesn’t work much and this summer I’m studying abroad. We just went over a budget for that and I’m not sure if it’s gonna work. But we’ll have a house guest who will be some income…and we’re also getting rid of extra stuff.
…but then, DH did just buy RockBand, so I guess we really can’t be that hard up. Perspective, neh?
7 Physiology PhD Mama // May 20, 2009 at 4:45 pm
We are a one wage-earner household (DH is stay-at-home daddy) so that makes things feel a bit more precarious. Also the one car is now 12 years old, also feels a little precarious. However, my boss has been pretty adament she would let lots of things go before people. Also I am the senior staffer for a 5 year NSF grant and even though I am not paid from it I feel like that gives me some sense of security. Also, we planted a big garden this spring so I am hoping that will help us save a little this summer since we do live close to the margin on just one salary. Here’s hoping… We do know some neighbors and other people who have been laid off, one from the Weather channel! I think a lot of things were wrong with our economy and American’s attitudes towards money, credit, and material goods so I am hoping that although this is painful for many, some lasting good comes out of it.
8 Lessie // May 20, 2009 at 6:35 pm
Things are crazy my way. I work at a newspaper. Need I say more? Some months I have to use my credit card to hold me over. I agree with Steve that universal health care would go miles and miles to making life easier for me and my boys. Once rent, childcare and insurance are paid, the pickings are pretty slim.
On the other hand, I’ve been trying to buy more socially conscience foods, which for me has been translating into higher food costs. So if I have to, I can go back to buying cheaper goods.
I admit that my plan (once my divorce is final) is to apply for every federal aid program out there and maybe ask for a raise since I’ve been taking on more responsibility at work (but as I said, I work at a newspaper. We’ll see how a raise goes).
9 Mossie // May 22, 2009 at 10:25 am
My partner was laid off and has been collecting unemployment as she takes odd jobs and looks for more steady work.
Though my own job leaves me feeling intensely regretful about my choice to go to law school, I am very grateful to be employed, albeit not making very much money, particularly given the market for law-related jobs right now. I am still keeping up with my $1100/month student loan payments, but just barely.
We are postponing our wedding due to financial constraints.
We eat out of our garden and have recently started making tempeh for a cheap protein source.
I grew up in poverty, and believed the oft-repeated line that education could be my ticket into a middle class life. I worked hard for scholarships and fellowships and took loans to cover the shortfall. In retrospect, and given the glut of JDs in the world, coupled with my extreme reticence and dislike of the legal field, I fervently wish I had spent that money getting a marketable trade and using my library card for autodidactic education.
10 G // May 22, 2009 at 10:40 am
Things have gone okay for us, hubby’s job is in a sector that hasn’t been affected too much… but I still get a sense of walking the tightrope without a net.
The job is good but the housing market locked us into a position that we may never dig out of.
The job is good, but if it ever becomes not so good our options and back up are extremely limited and look very dim.
However, for all that, we are still finding a good deal of joy as a family in the here and now. No blade has fallen yet. And so we’re making the most of the moment.
I guess we’ll deal with what comes up when it comes.
11 Chandelle // Jun 3, 2009 at 11:57 am
I’m with AYW – am, always been, always will be poor – but we do have dependents and I’m not through school yet, so our situation is pretty precarious. We just made this big move, which we couldn’t have done without help, and now we’re so far in the hole I’m not sure when we’ll dig ourselves out. We’re living without gas right now, which means we have no hot water and we can’t cook. And insurance has never been anything but a laughable prospect.
BUT – we moved here because my partner was given a JOB, which is saying a lot. And strangely, the crashing economy has been good for some poor people, because the cost of living, specifically housing, has dropped dramatically – the housing price around here has dropped $250,000 in the past couple of years, making a homestead purchase in the next few years a hazy but optimistic possibility.
12 stacer // Jun 10, 2009 at 9:32 pm
I was laid off last August, and I work in book publishing. I was laid off from a small publisher a few months before all the big publishers started laying people off–so right as I was starting to look for a new job, everyone said, “We’d love to hire you, but we’re trying to hold onto the people we already have.” etc. etc.
So I’m barely making it on freelance income, taking whatever odd jobs I can–a copyedit here, a critique there, a conference or a seminar over here. And I might be able to build a life out of it, but I can barely afford my living expenses, let alone insurance (just not happening) or even setting aside money to pay for taxes at the end of the year (including that double-ding for self-employment tax).
I’d dearly love to get even a part-time, $7-an-hour job if it had benefits, just so I could get my asthma medicine for less than $700 a month or more (which is what two of my prescriptions cost, total, without insurance). I’d sock the whole paycheck away as taxes, and live off my freelancing. But even little receptionist jobs are hard to come by. Or maybe I’m overqualified w/ a master’s degree. It’s tough out here.
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