What would you personally do?

[CrackerJax]

Here is the scenario:

You are employed and married. You own a home, car, etc. You are "plugged in". Okay?

After doing your monthly bills, you realize that you are paying out more than you take in.

Soon, you're informed that your hours at work will be reduced, further exasperating your financial worries.

You owe pretty much everyone at this point, and it is painful to add up the total amount you must "eventually" pay off.

What do you do? How would you solve your economic shortfall?

 

[cph]

I wish I knew...... Probaly wouldn't be in that exact situation if I did.....

 

[CrackerJax]

I've thrown up some reasonable choices, pick one that suits you.

 

[cph]

I've cut back on everything I can, and my hours have picked back up. I've also modified my mortgage and cut $200 off my monthly payment (thanks Freddie). I've come to the conclusion that I won't have enough money until my kids are 18. I did also get a second job of sorts, it just hasn't been very profitable yet.

 

[bigbudmike]

I chose Get credit cards. I did this because Obama will save us right?? Everyone I know who is about to go bankrupt did exactly this. All you have to do is file for government assistance. Sure it fucks up your credit but so does not being able to pay your bills in the first place. On a real note though you could get credit cards that have a 0% intrest rate on balance transfers (lots out there that do) and transfer as much of your debt to it as possible then file for one of these debt programs through the government. At least you will have like a year before the interest catches up to you.

 

[CrackerJax]

Obama can't save you personally BigBud.

You made an interesting choice. You would crash and burn everything you worked for, and take ur wife down with you.

Seriously? You would really do that?

 

[bigbudmike]

Obama can't save you personally BigBud.

You made an interesting choice. You would crash and burn everything you worked for, and take ur wife down with you.

Seriously? You would really do that?

Yeah kinda selfish huh? its funny cus I am not that type either. I did mean what I said about the 0% interest credit balance transfer. My friend does it all the time. Once his 0% is almost up he transfers to another card and cancels the old one. His credit score acually went up because of all the traffic across his credit.

 

[budsmoker87]

i'm glad i got my degree in the health field...i'm glad they can't outsource those jobs

 

[CrackerJax]

Yeah kinda selfish huh? its funny cus I am not that type either. I did mean what I said about the 0% interest credit balance transfer. My friend does it all the time. Once his 0% is almost up he transfers to another card and cancels the old one. His credit score acually went up because of all the traffic across his credit.

If that's what you would really do, then that's fine.

That's all I'm asking for. Be honest and tell me how you would handle the adversity of the situation.

Budsmoker, throw ur vote in at the top. What would you do?

 

[Puffster]

my wife an i keep our finances seperate.for much of the reasons u wrote off.one of us is responsible,THANK GOODNESS!

 

[CrackerJax]

But in this hypothetical situation Puffster, what would YOU do?

 

[Puffster]

well for us it is not hypothetical.it is the almost exact spot were in.what do we do?pretty much the same thing ive always done.fall into something ass backwards an make a wad of cash.always been my plan an always will be.somehow thru out my life ive always landed on my feet.just as i will this time.
attitude an demeanor,confidence call it what you want but i will prevail and find a way to get it done.PEACE

 

[doc111]

I would do both #1 and #2. It seems that a lot of people are finding themselves in similar situations these days. In reality I don't think that any of those choices are good ones especially if you find out that the shortfall can't be covered by cutting spending or getting a part time job.

 

[doitinthewoods]

a or b. B immediately and A would come as soon as it happened.

 

[doc111]

a or b. B immediately and A would come as soon as it happened.

That's my plan!

 

[The Warlord]

um.......we are on a pot growing site.........I'd grow some pot and make an additional 10-30 grand a year to shore up those finances. Or i'd go see some of my old friends and haul some dope or money. Whatever. Theres a lot of ways to make a lot o money but it's a risk/reward thing.

 

[Wavels]

I am now living out A and B.

I thought I had set up a nice retirement portfolio...I gave up working about eight years ago.
I thought that I had immunized my portfolio against the ravages of future inflation.
However I did not factor in what appears to me to be the forthcoming perfect storm of inflation and a hyper- devaluation of the dollar.
Because of my concern, I have gone back to working full time.
I do not have anywhere near as much free time to devote to my plants, and this really sucks.

It is the team of economic dim-bulbs that now hold the reins of power that has led me to this unfortunate circumstance.

I now work at the craziest job I have ever held.

Thanks Obama.

 

[Johnnyorganic]

Obviously the first thing to do is to stop the hemorrhaging. A point which is lost on politicians on both sides of the aisle.

Once that is done; if the deficit remains, do what must be done in order to increase income. If that means a second job, so be it.

 

[budsmoker87]

Yea like most here, out of the options given, i'd do B and then A

I'm trying to live on/off the grid though, so that I can learn how to provide practical things for myself (good size garden each year with some chickens). Hopefully, that way, I can always manage to get by without encountering this problem

I've always been a very non-materialistic person, even as little kid. Parents would never know what to get me...one year I asked for organic food because it's something I could use, and my health/well-being is my 1st priority, beginning with nutrition...followed by all aspects of mental health (spiritual/emotional/social/etc)

These things make me CONTENT and HAPPY. I can't get that from too many materialistic things that I could do without ya know? Although music makes me happy, so having an mp3 player i enjoy

...also, naturally, these values i behold led me down the school/careeer path that I chose...so the growing job market in the health field is just a plus

 

[Puffster]

im semi-retired.one of my rentals goes bad,im tight.consquently im working here an there,which wasnt the plan.its ok though cause im 49 and love what i do.
warlord has a point also,once ur in its hard too get out.