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The Current Economy -- Anyone having difficulties?


Forum: Financial Planning and Budgeting

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  #1  
February 27th, 2010, 10:22 AM
wishinitso's Avatar Regular
Join Date: Feb 2010
Location: NW of Midwest State
Posts: 76
I read about problems in our own little neighborhood with foreclosures, businesses ending, families being torn apart.

We are near Chicago in Indiana and it seems bad. I hear things are on the upswing and we averted a major depression but WHO?

Is anyone else having problems with paying the mortgage - or trying to sell their homes? Find work? Feeding families?

How are you keeping afloat? Any tips for those not doing so well?
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  #2  
February 27th, 2010, 02:05 PM
Platinum Supermommy
Join Date: Sep 2007
Location: Gulf Coast
Posts: 11,402
We personally are doing OK, but we headed into the economy slump with hardly any debt at all and I think that has helped us tremendously.

My parents, on the other hand, are on the verge of losing everything. It's very difficult to watch and know that there's nothing I can do to help. They have health problems that limit what they can do for work, they owe the IRS for the 2nd year in a row, their house is dangerously close to going into foreclosure. They're terrible with their money though. If they could get their priorities right, they could stay afloat. Their house has been on and off the market for the past 2 years and no one has even expressed interest in it.
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