xtcian

No major lifestyle changes yet, but I have to say I feel the same sour consumer sentiment as Joe/Jane Six Pack. A general feeling of austerity has swept our household: less eating out, a trimming back of services, no frivolous spending, cutting the cleaning person back from three days a week to two, flying coach sometimes, etc. What was once a to-do list is now instead a bull market wish list:

* Third and fourth children would be amazing, but we've already crossed the 40 mark. Investigate gestational surrogacy.
* Convert both houses to geothermal heating/cooling + solar.
* An electric car would work great for me given that I drive less than 10 miles a day. How about a sexy little number like the Tesla or Fisker Karma??
* We need to redo the kitchen and bathrooms in VT.
* We need a little guest house on the property in VT for in-laws and friends.
* We should be giving the maximum giftable amount to each of our parents every year toward their retirements.
* My neighbor wants to sell ~100 acres, try to buy the parcel as protection.
* An apartment in the city would be much more comfortable than the Plaza Athenee.
* Bringing the baby nurse *and* the nanny on vacation would really kick ass.
* There is no commercial non-stop service from DFW to ALB. Netjets could solve this problem easily, and we could bring our dog!!

I'm happy to see you posting on a Sunday Ian, but don't know why. I was checking in to see if Jif had her babies (?).
Not sure how this economy is affecting me specifically. I'm pretty thrifty all the time anyway. I do choose Trader Joe's over Whole Foods more. I think more about how much gas I'm using, which is a good thing. I really can't complain.
I have to say CW that your basics would be my dream life and I'm trying hard not to be jealous. A baby nurse and a nanny EVER would be unbelievable, much less on vacation. I'm holding back judgment. I am, really...
I definitely need a different job.

No real change here. Maybe it hasn't reached it's long invisible-hand-fingers up here into Canada.

Well, there is one change. At silverorange, the number of emails we get looking for design work on ridiculous myspace+facebook+youtube-for-classical-music-loving-soccer-moms projects has declined a bit. That said, the cup was overflowing, so now it's just overflowing a bit less.

Then again, I don't think economic downturns are really supposed to affect people who's friends sell TV shows to major networks...

OK, Jif. Brangelina had Knox and Vivienne. My sister-in-law went into labor and is in the hospital. . . . it is your turn!

Oh, and to answer Ian's question. . . I have ALWAYS worried about finances, and the economy is making me frantic. That said, my worries are not really based in reality, since my husband and I have stable careers, we have one child, and we have always lived below our means. Still, I find it very unsettling that the mere daily process of LIVING is becoming more expensive. When it costs more money to drive to work, more money to heat and cool your home, and basic groceries cost more. . . it does not bode well.

There are certain things I DO NOT DO ANYMORE. 1. I do not go to the movies (I subscribe to Netflix and I can wait for the DVD release). 2. I do not buy books (I get on the waiting list for bestsellers at the library). 3. I do not go out to eat (I pack my lunch and cook). 4. I do not shop. My new motto is: I do not want what I have not got.

I've NEVER wanted to waste $ on gas so I've always driven a small econo-box car, specifically a hybrid for a year now, and I live below my means. I admit honestly that it's easy to do all this, since I'm single with no kids, and I live, close-in, in Portland, OR, a magic town of village-y, walkable neighborhoods and good public transportation. However, now the cheapest flights back to NC for visits are not so easy to find anymore, and not all that cheap.

Not much change here really, other than travel. Haven't flown since January (even with a new niece in Michigan that I'm dying to meet) and weekend roadtrips further than the beach don't really happen anymore. Otherwise, my day-to-day is pretty much business as usual.

Canceled one of our little planned road trips north. We don't take long trips, but we like to go 5-6 hours to different places. It's not a big deal - it was just a way to go somewhere cooler this summer. We'll probably have just as good a time doing something fun locally.

Have you heard this term "staycation" being used? ;)

LFMD, I had a whole list of names for the Pitt kids, like Stu Pitt, Peach Pitt, Sto Pitt, Dro Pitt....

Neva, sometimes it makes sense to blog on a Sunday if you're gonna busier with other stuff later on... (just a guess)

This is interesting. My boyfriend works in banking, and I work at a high-end retailer. My job is going better than ever. I just got my stock options, and they are worth more than ever. I have been told by several colleagues that mine are worth more than the ones they got several years ago. My company offers profit-sharing, and my share is more than ever. My boyfriend, however, is worried that he will have to take a big pay cut next year. He won't get the bonuses that he's used to, and he may have to move to another department entirely, which will probably pay less. So we're tightening our belts. We're eating in more, and trying more and more to be responsible about who gets our money.

The most interesting thing for us, living in a big city, is that it has become more fiscally responsible for us to be environmentally responsible. It's cheaper for us to only take public transportation, and I'm more motivated to do that because it feels better to come home with a hundred people at midnight than to come home with a single cab driver at midnight. Our farmer's market prices are cheaper than buying out-of-season produce from far-flung countries at a grocery store. It makes sense for us to cut back on energy consumption at home because it will cut our electric bill, which is, of course, better for the planet.

Yeah, we're trying to cut back. So the first places we're looking to cut back are the places where we can be environmentally responsible at the same time.

1) The only books I buy are our kids' school texts, and I always try for second-hand. Yay for statewide library cards.

2) I sell things we don't need on eBay and use the PayPal balance (profits) to buy essentials such as the salon shampoo I prefer, brand-new clothing or shoes, and occasional luxuries such as tiny bottles of very good perfume.

3) No more vacations for us! :-( Fortunately we now live right on the beach year-round, so we can take time off right here and do some day trips.

4) I really have to want to see a movie in the theater for some big-screen reason; otherwise, it's Netflix and TV.

5) We have been using the ACs much less and relying more on little fan in the house.

6) Very conscious of using gas locally. I'll always try to combine a shopping trip to do multiple errands at once, and I pick up groceries on the way home from work instead of making a separate trip.

While this economy scares the crap outta me, I think we are learning some lessons in frugality and simpler living that our parents (at least *my* parents) and grandparents practiced all their lives.

THE TWIN NEWS EXAMINER

EXTRA! EXTRA! Here all about it:

Jif is on her way to the hospital this morn to see if the docs can't coax Fritz and Fratz(tm) out of their cosy shell. The babies are so big (i.e. each over 3kg - whatever that is in lbs. - much bigger than them Pitt-Jolie tots) that their health is beginning to impact hers. Nothing major - but it's time they made a move already...

Luckily, I live within walking distance of the hospital and am happy to keep all informed of the goings-on. One thing we can be sure of: The kids won't be named after gelatin..

Oh THANK GOD!!!!!!!!

Thanks for the update cluverc.

Go Jif! Go Jif! Go Jif!!

And by 'here' I was trying a clever word play, of course..as in 'Here: All about it' - instead of just making a silly grammatical error, which would make me cringe after posting..*sigh*

Good luck, Jif!

It's hard to say how much of our financial concern relates to the economy and how much is more attributable to our shift to being a single-income family last fall. Either way, we feel it.

Though it has worked very well for us in every way but financially, we are having to reassess the single-income approach. I recently traded in my Saab for a 4-cylinder, 5-speed Honda that gets me 34 MPG.

We had a large (80-ft) tree fall on our property a couple of weeks ago. Rather than pay to have the wood hauled off, I had someone cut the wood up and I rented a wood splitter to create firewood that we will burn in the fireplace this winter. I am insanely sore right now, but if I save $100-150/month off our gas bill this winter it'll be worth it.

We've also recently considered relocating from Falls Church, where the schools are fantastic and we have a great sense of community, to Charlottesville just because housing prices are significantly lower and we might be able to weather the storm a little better.

...riding my bike alot more and walking with the kiddos to and from the pool, etal

Summer's for sweatin' anyway.

At the risk of sounding fey, or conspiratorial, or just plain old libertarian for that matter, anyone even slightly paying attention over the past ten years should have been nagged by inner feelings that a negative savings rate is a bad concept. "Country Living With City Convenience" is neither. "Carbon offsetting" is, what? Real estate - they're not making any more of it. "Twighlight in the Desert", etc. All of these things made me adjust for the current situation starting about 4 years ago.

All real estate was sold by 2005 with the profits going into paying off my house and converting the extra downtown lot to a terraced, gardened, rain harvesting fruity wonderland.
Any stocks were sold by last November (not that many, admittedly). Precious metals were bought.
Commute and transportation by motorcycle is as often as possible with about 2,000 miles per year in the car. Bikes were cheaper a couple of years ago.

One benefit was to be in the Geology career track. Like Katrina in NOLA, "Hubbert's Peak" and peak oil have been bandied about for decades in the right circles. I did have the pleasure of hearing the obnoxious and charismatic Kunstler speak six or seven years ago. This reassured me that my Urbanist outlook with a remote retreat fallback was not merely paranoia and that I had not seen "Red Dawn" too many times, although that is probably true nevertheless. Having a wife with working class European parents helps a lot, I am far more materialistic and she is very frugal. We walk or bike most places and have adopted the idea that, living in a tourist town with a decent amount of natural beauty, we should take advantage of that and embrace it - fewer trips out of the country.
My son has been kept ignorant of the fact that any universities exist besides UNC and NC State. I see this as the number one money saving plan we could possibly pursue...

Billy Packer leaves CBS. We won't have to hear him doing play-by-play when we're playing in the National Championship next year!

Instead of waiting until the tank is empty, I simply fill up everyday to minimize the pain. And it feels great! $20 just feels better than $100.

You should try it too.

Honestly, my family has never had a better year. Like everyone else, I pay more attention to gas prices (see gasbuddy.com), but otherwise things are great. I hate to think we're the exception.

The only thing that worries me a lot is the election. I don't care for either candidate and am concerned for the future. McCain lost me a few weeks ago, and Obama never had me. I guess it's a write in, unless the judges issue compels me enough to hold my nose for the Republican.

My husband used to drive home from work at lunch to let our 3 dogs out into the back yard. He's not doing that these days, and as a result I'm picking up a lot of crap.

I share a garage with our townhouse neighbors, who have two cars, a compact (parked on the street) and a large SUV (parked in the garage). They used to take the SUV everywhere and rarely used the compact. Now, presumably because of gas prices, it's the reverse and I have a very hard time getting our back door open far enough to squeeze my daughter into the car seat with the giant SUV always parked next to us.

But if that's all I really have to complain about (so far - knock on wood), I consider myself very lucky.

was taking family to beijing for olympics now just going solo for work.

Interesting question. In May, I gave all my employees a raise. (I know how that sounds...) The yard man, the nanny/housekeeper and the cleaning crew are all getting $10-30 more per month. They need the money, and I know gas prices are directly affecting their ability to buy food for their children.

Aside from having multiple employees (I have 3 kids and do a LOT of volunteer work!), I have always been fairly frugal, so I have not changed my personal shopping habits much. We don't wear fancy clothes or drive luxury cars. I buy almost everything on sale. I have noticed significantly more people at the farmers market each week, and significantly fewer people out for lunch on Sundays. The grocery store is clearly more expensive now, but we have to eat!

I am concerned about people in the service industries, so please be generous with your tips!

I work for Fannie Mae. Yah.

The scale of things only hit me 3 months ago so we are still mostly planning (and fighting anxiety):

- House paid off
- Garden expanding
- Shifting stocks
- Planning wood stove, insulation and Acadia heat pump
- Jonesing for quality electric transportation
- Planning bees and chickens
- Working on building community (most important!)

If you're looking for an entry point, try http://gailtheactuary.wordpress.com/2007/03/16/oil-quiz-test-your-knowledge/

Here's a tidbit that might interest this crowd. When the DOL's unemployment stats came out in early June, making headlines for it's rise to 5.5%, I went digging.

This is what I found: The DOL breaks these stats down in a myriad of different ways, and the 5.5% number is an aggregate of all segments. If you look at the agency's U.R. breakdown by educational attainment, you may see the reason so many here have the good fortune to avoid, for now, the economic mess much of the country is feeling.

http://www.bls.gov/news.release/empsit.t04.htm

The short of it is, if you:

- don’t have a HS diploma, 8.7% of your peers are out of work;
- have a HD diploma, but no college experience, 5.1% of your peers are in the unemployment line;
- if you have some college, but no degree, your peer unemployment rate is 4.2%;
- finally, if you have a college degree, your peer unemployment rate is 2.3%, up 0.1% from the previous quarter.

I thought this was a fascinating nugget of info, and am surprised no one is talking about it.

I don't know that we are terribly impacted by it right now, but if it goes on through the end of the year, then we will start to really feel it. That said (and since I work in the capital markets business that always seems to be in some sort of turmoil), we paid off our house a few years ago. Last summer I traded in my "old" car (I say old b/c it was 10+ years old but still ran like new) to get a more fuel efficient car. We cut coupons and make sure that it is for stuff we really use; we eat out less; rent less movies and video games; kids clothes are always bought on sale or at the outlets/discount stores and few frills with what is bought (although this is much easier with boys - mine could care less what they wear).

Finally, and I don't know if anyone else does this, but the local grocery store has teamed up with local gas stations such that when you use the grocery store "value customer card," you rack up "fuel points" (for every $50 spent get 10 cents off per gallon, up to 20 gallons). We have smaller cars, so we never use the 20 gallons, but we go to the store a lot. We are averaging 20 cents off of every fill-up (and the gas station is really close to us - no need to drive out of the way to get to a participating one.

I live in Michigan. Don't drive anywhere unless absolutely necessary. Double up when running errands. Everything has to be planned out. No going out to lunch at work. Eat dinner at parents whenever possible. Getting rid of the stupid Jeep I needed for work as soon as lease is up in Feb. They can hire a courier service for all I care. Oh let's see. No new clothes unless it's a $6 shirt on the clearance rack. No buying new books; only library. No Target-ing. No grass cutting service. And I'm still broke! What’s really killing my budget is all the weddings, baby showers, etc.