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3 Bumps

What is your Plan B ?

Gas prices ... going up!
Grocery prices ... going up !
Utilities ..... going up !
House pmts ... going up !

Benefits ... going down!
Salaries ... going down !
Retirement plan matches ... going down ! 

Bank Account & Savings ... going down !

I'm seeing this from EVERYWHERE ! So my question is ... what are YOU doing about it?
WHAT IS YOUR PLAN B ?
I'm taking action NOW before it's too late!

Answer Question
 
MaryJacobs

Asked by MaryJacobs at 11:01 PM on Mar. 15, 2011 in Money & Work

Level 11 (630 Credits)
Answers (12)
  • My plan B is to adapt. We cut back on spending, we buy in bulk, we car pool.....we're not hurting for money but we always try to save. We're smart with our money and know our limits.
    how_reb

    Answer by how_reb at 11:03 PM on Mar. 15, 2011

  • Plan B: Cut out the luxuries (i.e. eating out, going to movies, occassional retail therapy and spa treatments); Plan C: Find a better paying job/employer who offers real health insurance and retirement savings benefits.
    Olivia4116

    Answer by Olivia4116 at 11:05 PM on Mar. 15, 2011

  • i am having my first baby in all this economic dismay, and right now our only option is to pay our bills, and keep the rest in the bank. We have set aside an account only for baby money so we know what we can spend and when, and a fund for things in our near future, such as, me not working or being in school during the summer, any emergency that may come up etc. We dont drive anywhere unless we have to and if we do (besides work and school) we take my car which gets the best gas milegae. For now, its really all we can do. We dont turn on the heater,we snuggle with blankets, sweaters and each other instead, one light on at a time... etc. to try to keep the eweb bill down, Its all I know how to do right now.
    Tarrar

    Answer by Tarrar at 11:08 PM on Mar. 15, 2011

  • Thankfully we havent had to cut back on anything. My husband has a car and gas card from his employer so he pays nothing on that end. We have 2 other cars already paid off. Our house payment could be paid with his military disability check if he did lose his job which isnt likley to happen. I hate paying so much for groceries so I do use coupons when I can.
    okmommy08

    Answer by okmommy08 at 12:02 AM on Mar. 16, 2011

  • Saving all PELL grant payments I recieve for the next 4 years. Every 3 months I get about 1,200 bucks. If I saved all that I would have close to 20,000 bucks for emergency cash by the time my lil one turns 8 and she just turned 4. Unfortunately, I have to take out 2,000 of that to purchase a vehicle this summer so I will only have about 18,000 saved up. Still, never know what can happen in the next 4 years. 18,000 dollars could very well save us from a lot of hell.
    Anonymous

    Answer by Anonymous at 12:50 AM on Mar. 16, 2011

  • We are becoming more self-sufficient. We just got some chickens to raise for eggs and meat. We also have a pretty big garden going, and I'm going to learn all about canning this year(I know a little already). We have already started buying in bulk for things like sugar and flour and oats. We have cut back on our energy consumption and cut out cable.
    lovingmy4babies

    Answer by lovingmy4babies at 9:43 AM on Mar. 16, 2011

  • I'm learning to forage from a friend. I save as much cash as we can. We already shop loss leaders for the pantry, keep a small garden, can, freeze, buy at the thrift store, freecycle, curb glean, and budget. Our sons will be looking for summer work (they're older). We'll see if they get something, and just do our best.
    oddfox

    Answer by oddfox at 10:10 AM on Mar. 16, 2011

  • We have not cut anything from our lives but we have spent more wisely. My plan B is to be self employed. I took control of my future almost 3 years ago when I realized that no one was looking out for me. At that time I took a 29% pay cut from my employer that I had worked for 11 years and I was the only one to take a cut. This is a small company and I was always promised that my wage and job was safe, oh that was until my employer needed more to put his children through college. So excited that I can say what he pays me now isn't as important as before and within the near future I can depend solely on myself.
    Kari126

    Answer by Kari126 at 8:06 PM on Mar. 16, 2011

  • Keep tightening the belt. I, like Kari126 posted above me, had a 25% cut in pay and benefits (the only one, small company) in 2009. I nearly lost everything. So far I've survived financially after some MAJOR adjustments.
    tasches

    Answer by tasches at 8:15 PM on Mar. 16, 2011

  • I adapt. I mean really as bad as things are we cant do anything about it but adapt to what is going on. Dont go out so you dont use a lot of gas, make small cuts here and there so that you can save money. I mean I dont know what ppl expect us to do but adapt!!!
    annabelle092810

    Answer by annabelle092810 at 8:18 PM on Mar. 16, 2011

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