The Global Recession - How is it affecting you? - Page 2

**JumpingJack** · #21 (**permalink**) 10-26-2008, 08:29 PM

^^^ Yeah, I keep 7K min balance in the checking, 15 K in money market accounts, and 24K in CDs, spread over 12 1 year CDs rotating over each month. The gives me about 6 months of cash reserves for typical expenses on hand in case of emergencies.

Violet_wind · #22 (**permalink**) 10-26-2008, 10:02 PM

The recession is the coolest thing of my life! Most of my favourite hardware store is closing with really low liquidation prices to attract people. Of course only I go there these days. I'm just waiting for that Q6600 to drop from $140 abit...

Also sales are getting alot better thanks to the fact many people can't afford canteen food anymore (and get forced to buy stuff). Total revenue is up from about $2 per week to about $20 a day.

Cain · #23 (**permalink**) 10-26-2008, 10:08 PM

ATM, its not but we'll see what happens.

**randomizer** · #24 (**permalink**) 10-26-2008, 10:17 PM

Quote:

Originally Posted by Violet_wind

The recession is the coolest thing of my life! Most of my favourite hardware store is closing with really low liquidation prices to attract people.

Local stores or online stores?

Violet_wind · #25 (**permalink**) 10-27-2008, 12:42 AM

local store has already closed =(. I should have bought that Q6600 at $140... oh well I didn't have the money anyway!

**Mandrake** · #26 (**permalink**) 10-27-2008, 01:04 AM

The Australian dollar here has dropped from 98US cents to ~65US cents. I paid 330 AUD for my 4870s when the prices in USD were 300, so a 10% markup pretty much. Now it's much higher than that. Nehalem, for instance, will be a much more expensive upgrade than it would have been with our dollar stronger.

**baligavinod** · #27 (**permalink**) 10-27-2008, 01:23 AM

Job doesnt feel very secure. Not a lot of job openings at other companies. Lot of companies handing pink slips [One of the company fired 5k people

].

and my stocks are tanking too

. The currency has worsened [1USD = 50INR, it was 38INR before]. So yeah I am feeling the pinch

1Tanker · #28 (**permalink**) 10-27-2008, 01:45 AM

Quote:

Originally Posted by Mandrake

The Australian dollar here has dropped from 98US cents to ~65US cents. I paid 330 AUD for my 4870s when the prices in USD were 300, so a 10% markup pretty much. Now it's much higher than that. Nehalem, for instance, will be a much more expensive upgrade than it would have been with our dollar stronger.

Same here.

Our Dollar went from a high of ~$1.10US(just over a year ago)..to ~$.78US

(which has roughly been it's value, most of my life). Computer parts are starting to edge upwards again...among other things.

beerandcandy · #29 (**permalink**) 10-27-2008, 01:57 AM

i have lost around 42% of my 401k
on paper
i bought a house and have spent over 35k in cash in the last 4 months
its getting tough
i will be getting a second job soon to build up some more savings

edit:

oh and i will not fail

**tool_462** · #30 (**permalink**) 10-27-2008, 04:52 AM

Being a senior in college, I don't feel the direct results in any way other than hearing mass panic in 401k stuff from established professionals. Best thing I see is that gas can be found for $2.12 or so

It does come at a bad time though, graduation in December and then the job hunt begins...

**SuperFly03** · #31 (**permalink**) 10-27-2008, 04:57 AM

Quote:

Originally Posted by tool_462

Being a senior in college, I don't feel the direct results in any way other than hearing mass panic in 401k stuff from established professionals. Best thing I see is that gas can be found for $2.12 or so

It does come at a bad time though, graduation in December and then the job hunt begins...

Shouldn't you be hunting now?

**tool_462** · #32 (**permalink**) 10-27-2008, 05:01 AM

Quote:

Originally Posted by SuperFly03

Shouldn't you be hunting now?

Not really sure...never graduated from college before

I have already done fitness and written tests for US Marshalls and Secret Service positions, but they mostly just say "good job, call me when you graduate." So we'll see.

**DaSickNinja** · #33 (**permalink**) 10-27-2008, 05:33 AM

CT has, and always will be expensive. No changes here.

TechnologyCoordinator · #34 (**permalink**) 10-27-2008, 05:41 AM

Quote:

Originally Posted by Violet_wind

Also sales are getting alot better thanks to the fact many people can't afford canteen food anymore (and get forced to buy stuff). Total revenue is up from about $2 per week to about $20 a day.

What is "canteen food"? I've never heard that term before.

**brentpresley** · #35 (**permalink**) 10-27-2008, 06:03 AM

Quote:

Originally Posted by tool_462

Not really sure...never graduated from college before

I have already done fitness and written tests for US Marshalls and Secret Service positions, but they mostly just say "good job, call me when you graduate." So we'll see.

Yeah, you should have you're resume already polished up and be writing cover letters and mailing those packets out NOW.

Then cross your fingers on interviews. In the current economy, I would take any interview you get (which will require you to have at the minimum a sport coat, preferably a suit).

Ideally, you want to have a job lined up for Jan. Practically, in the current economy, if you get anything that takes advantage of your degree, run with it. You can switch later when the economy improves.

prozac26 · #36 (**permalink**) 10-27-2008, 06:11 AM

Well, it doesn't have a direct impact on me since I'm still in school, but I do try limiting my spending, and drive more efficiently.

This way I can help my parents out by saving money where possible. I also see it as a good lesson in managing finances, and figuring out where and how to spend money.