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The economy is now beginning to hit us harder

November 9th, 2008 at 07:29 pm

The economy is now beginning to hit us harder and I just have to keep telling myself that no matter what, we have to press on.

Last week Monday our company had a call that they needed to cut their budget $140K next year and they were soliciting ideas from employees on how to help achieve those goals.

I suggested a few & this coming week we'll probably get an idea as to the ideas they will be implementing. I just hope job cuts are not one of them.

I feel like my job specifically is secure, but overall it tends to lower morale if people begin being let go & that can dramatically effect the company. Especially since it will be extremely hard to do more work with less people & the majority are hourly employees that require overtime if they go over 40hrs/week. So I emailed the CFO that I would rather see us forego our Office Technology Reimbursement ($1200/yr) for every employee and encourage employees to deduct their office expenses off their taxes instead if it meant that it could help keep their job.

We'll see.

The election week was tough for us being a military family. Not because we voted for McCain (We voted for Obama) but because a lot of military families say they are concerned Obama will cut their pay.

I guess, from my perspective, I am looking at the prospect that my job (which provides 40% of our families income) or consider whether or not my DH will be getting a 3% pay raise in 2010.

I really hope the economy will turn around soon, or if not soon, that we are fully able to weather the storm.

I had set aside $1700 in our EF, right now its at $1500 and that was to last till February or March when we plan to get our tax return and pay off DH's car.

I don't know if the $1500 that is in there now will be enough.

Our HOA fees on both homes are going up. There are board meetings for both and I'm sure some will contest it, but with our rental - because of the economy, crime rates are going up. The HOA wants to set aside $15K next year to pay for off duty police officers. I actually think its worth the extra $4/mo in HOA fees to do this so that it helps protect our property values.

I don't know... Christmas is coming up and I'm not sure how we'll pay for the gifts. My oldest wants a Nintendo DS, we were going to get our son a SmartCycle Hot Wheels game, and my 2nd daughter wants a Dora thing... meanwhile I just want to get the baby a "Baby's First Christmas" ornament and family pictures since we haven't taken those since May 2007.

My friend is visiting in December and honestly, I'm somewhat nervous. I love her to death but I worry that we won't be able to do much cause we can't really afford anything right now. She's been my best friend since we were 12 and has said she doesn't mind if we just hang out, but I know that we also want to plan a double date with our husbands sometime then too. Its mostly that first week I'm nervous about cause her hubby will be there too & I want to be a good hostess, the second week my DH is going to Florida and her hubby is flying to see his family - so it'll just be her, me, and the kids.

So thats primarily why I worry if the $1500 will be enough till February or March.

If we can get that unclaimed property check before the end of the month (but I'm not counting on it), our EF will be down to $1000. I have some extra points with my debit card so I could probably redeem it for a gift card to help go Christmas shopping.

*sigh*

No matter what, we'll make it through. I have so much to be thankful for. Just have to keep going and be smart with the money we have.

6 Responses to “The economy is now beginning to hit us harder”

  1. Maismom Says:

    I didn't know military people are worrying about their pay being cut. My DH was in the Navy for 22 years, so I know how little they make. (My DH was E-7.) Every time I see his Social security statement, I just cannot believe how low his salary was during his Navy time. I don't think Obama will cut people's salary, but we do need to do something about our huge military related spending. Last time I checked US Treasury website, 1/3 of federal money is spent towards military. That is huge.

  2. mom-sense Says:


    If your friend is travelling with her husband the first week of her visit, you should be able to bow out gracefully, having to work or be with the kids. One night out I would consider a splurge. Your friend and her husband can sight-see or do whatever their budget allows. And be honest about your lack of funds for "fun". Your friend should understand this, especially with Christmas coming up and having to buy gifts. Good luck!

  3. AmbitiousSaver Says:

    Maismom, I whole-heartedly agree with you. I didn't realize the military made up so much of the budget. Personally I do think they have lots of wasteful spending. DH's command (of less than 30 ppl) recently racked up a $500K cell phone bill in a year. While I feel they need government phones, $500K in usage charges is excessive.

    Mom-sense, I'm going to try to find some ideas, but I'm just not sure what to do around here. They'll be staying with us at our home so I can't really bow out. But hopefully I'll be able to find something to entertain them. I was planning on taking them to see Christmas lights on the beach which is about $10 a car, and then doing a double date one night. Another night I have my final exam for Int'l accounting. I just hope they have fun.

  4. Koppur Says:

    I know it seems hard, but it also seems like you have a plan. And if she has been your friend since you were 12, I'm sure she will be cool just hanging around or doing cheaper dates. If her hubby gets bored, he can go out on his own.

  5. lizajane Says:

    What about renting (or borrowing) a movie or two to watch at home? It's pretty cheap entertainment for all. Likewise any kind of games, like Trivial Pursuit? It probably sounds outdated, since Wii would be much more modern, but if you don't have it, you improvise with other things.

  6. pretty cheap jewelry Says:

    was just about to suggest movies but liza beat me to it!

    And coffee, at a local coffeehouse is a cheap date, and a nice chance to chat, walk around windowshopping.

    My kid saved this past summer for a DS ($100!). Allowance, plus many extra household jobs, and my husband 'paid' when the kids helped with extraordianry jobs building our weekend house (ie digging, clearing construction debris, laying wood floor), I'm not kidding we let our kids do pretty grown up things.

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