Friday, December 05, 2008

This Is Soooo Not Cool

I know I've talked about this a few times on here but this economy crap is really worrying me quite a bit. My dad just lost his job of 29 yrs a few weeks back. He works in a metal manufacturing shop here in Kansas. Now we have 3 automobile makers needing massive help restructuring their businesses and the only way to do it is cut tons of jobs. Then we have a zillion other companies out there that have nothing to do with banks, credit cards, or cars who are laying off. The trickle down effect is going to a bad outcome on us all.

My dad has always been a conservative type with his money. He's put a ton of it in CD's and quite a bit in the market. Enough in the market that the recent drops has substantially dropped his amount of money...on paper. (it's not real until you have it in your hand) He'll have unemployment for 9 more months or so and then he's pretty sure at the age of 55 he's going to go find a pud job somewhere like Home Depot until he can retire. If the market hadn't crashed so bad he COULD HAVE just retired early. Not now.

So what are we all to do? Tighten our belts? Prepare for the worst? I know we're not going to be doing a lavish Christmas for everyone in the family like normal. I've got some home made things we are working on like usual and I'm doing gift cards for my parents. We're buying 3 gifts each for the kids of what they really want this year instead of the $200 dollar amount we usually do. I'm going to try to sock more in savings each month and spend less in every way I can think to. Good thing is that they are thinking with the price of gas and crude oil that our heating bills may be less this year so that's a good thing.
Are you doing anything for your family "just in case" it gets any worse?


Cindy said...

My parents are in the same situation. The only bad thing is that they bought a house that cost them almost half a milion dollars only two years ago. I am praying that they don't loose their house. :-( I am trying to keep spending the only way to make the economy better is to spend.

Justi said...

Hey there! I added you to my fave blog list. You can add me if you want, too! :)