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I'm Asking: How Has the Recession Affected You?

I'm Asking: How Has the Recession Affected You?

Some of us have fared the recession better than others, but it would have been hard to escape its impact altogether. Whether you've had to work longer hours because of a reduced workforce, endured salary cuts, job loss, ran into trouble with your mortgage or ability to pay your bills, the recession has touched the lives of most Americans. How have you been affected by the economic changes?

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TidalWave TidalWave 7 years
Food costs more..... if it weren't for Sugar and the radio, I wouldn't know we were in a recession. My only friends who don't have jobs, don't have any marketable skills whatsoever so I'm not too surprised by their unemployed status.
CoralAmber CoralAmber 7 years
I've had the same 10-hour-a-week job for two years. Although I was promised more hours when someone else left, they now say that there "might be budget cuts" and they won't give me those hours. I took two years of nightclasses and did an internship to get a better certification in my field, but other jobs (even part-time) are still scarce. I can't get health insurance, I can't afford another car after my last one died, and I can't pay my student loans. I have lived with my parents since I left college to save money.
justanerd1975 justanerd1975 7 years
how rude, "get a job." no one knows how much this family would have to pay in child care if the mother went back to the office, what if it's easier on their finances for her to take care of her own kids????
pearsbeary pearsbeary 7 years
i have been lucky enough to hold onto my job...i spend sensibly, but i still splurge once in a while...like traveling because my theory is if everyone hoards money no one spends at all, then there is no cash flow...and a rut would be worse
tiff58 tiff58 7 years
My dad lost his job and has been jobless for quite a while now. We moved to another state for my job late last year, and my husband has not been able to find a job since we moved. He is now going back to school, and switching career paths entirely.
luna08 luna08 7 years
I'm finishing my Bachelor's while working in my field. This was supposed to be the year I made a huge salary jump, and/or got a new, better job. Instead I got a 10% paycut! :P Thankfully, I still have my job, and am still finishing my degree, my company also guaranteed that they will not be laying anyone off this year. I'm hoping that getting my degree, and consistently working in my field through the recession, will give me a good basis for when jobs open up. I've done things like joined a couple of professional organizations, polished my resume', and stayed active on job boards. It makes you feel like you're getting somewhere! My dad lost his consulting career in the recession of the early '90's. So, I know how fortunate I am, and how badly others are suffering!
OHmeetsBK OHmeetsBK 7 years
My husband was laid off from his job. However, it was a job he hated and he is now in a job he loves and on a career path he is excited about (smaller paycheck but happier husband). We're not swimming in money but we can pay our bills and enjoy dinner and a movie every once in a while. I actually got a raise this year. So far, so good.
skigurl skigurl 7 years
doogirl - get a job
ella1978 ella1978 7 years
My fiance lost his job. My pay got cut 20%. We bought a very cheap house, but with our expenses, both of us living on 80% of my weak salary has been difficult. I have some savings, but there is still a chance that our firm could fold too. We wouldn't be able to live on my savings for long... esp. with 350 dollar heating bills in the winter. My mother got laid off from her job after 35 years, my dad has had a hard time finding consulting work. And to top it all off, I'm trying to plan for a wedding. No ability to save up either since every penny is going into surviving... So, not well.
lovekailua lovekailua 7 years
Well, I was pretty responsible with money too but losing your job when no one is hiring makes it pretty tough for anyone. And when your job is to help people hire people, it's not easy to get back into until companies hire again! So, I have no job and I am a night law student graduating in May 2010 with mountains of student loan debt and shaky job prospects. Right now, I can't find a job to get through school so I have to try to find a retail job (if they will hire me) to get me through the rest of school so I can pay my rent and other bills. It's scary, this is not where I thought I would be turning 30.
heatherhas heatherhas 7 years
I am still making the same amount that I was making in college! And that was two years ago!! I have 5 years of experience but jobs in my field are still slim pickings.
Spectra Spectra 7 years
It hasn't really affected us too much because we've always been very frugal and responsible with our money. The only thing that's different now than it was before is that my husband's company has temporarily stopped matching the employee 401(k) contributions, but that's expected to be reversed soon. Other than that, we've been fine. We bought a house we can actually afford and put 20% down on, we have only our student loans and our mortgage as debt, we own 20 acres of land to build our dream house on when we retire, and we have 6-8 months' expenses in our savings account.
mek123 mek123 7 years
The recession has hit, salary cut and then hours cut and lower interest rate. Unless the stock market recovers quickly, will have to work a few years more.
twirtygrrl twirtygrrl 7 years
Sorry, my comment got cut off... Job loss for me and salary cut for my husband....the recession hit has hit the bank account hard! I work harder at being a smarter consumer (love SavvySugar!) to make the dollars stretch farther. The job search has become a challenge we work together on and this time has really made our relationship stronger! I miss my paycheck for sure!!!
twirtygrrl twirtygrrl 7 years
Job loss for me and salary cut for my husband....the recession hit has hit the bank account hard! I work harder at being a smarter consumer ( <3 you Savvy Sugar) and stretching out dollars. We have taken on the challenge of my job search together and this time has made our relationship stronger....so it's not all bad!
doogirl doogirl 7 years
How has this recession not hit me? I'm a stay at home Mom and my husband works as a Sergeant in a Prison. In California. So we're hit with a 15% pay cut every month for 18 months, which is basically a thousand dollars a month. And we bought our house three years ago when houses were still high, so it's worth about half of what we owe. We got rid of our second car, we don't go on vacation or out to dinner, and we're thinking that we may have to file for bankrupcy. I hate it!
SDTransplant SDTransplant 7 years
I consider myself very fortunate because my job is stable and I got a promotion before the recession really affected my employer, but the recession has basically massacred my parents' finances and it's affected me indirectly in that I now have to send them money every month.
Angelica Angelica 7 years
I have to admit my experience is similar to skigurl's. Yesterday, on my commute to work I heard an older man telling his friend he has to work 5 or 6 more years than he expected because his investments were hit so hard. I'm thankful to be in that relative safe zone because of where I am in life when this all hit.
skigurl skigurl 7 years
it hasn't affected me too much except the interest rate on my savings account is basically down to 0% i've saved more money the last year than i ever have before, i think also because i'm being more conciencious subconsiously even though i have a safe job
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