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Thread: Financial crisis!
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Tue, Jun 8th, 2010, 02:31 PM #31
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Thank you very much. I already use websites like www.sidereel.com and http://www.surfthechannel.com/ to watch shows for free. I will have to check these other ones out.
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Tue, Jun 8th, 2010, 02:52 PM #32
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Tue, Jun 8th, 2010, 03:01 PM #33
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Great post, brunt. I didn't quote the entire post, since it was kinda long.
But I wanted to comment that "Your Money or Your Life" really is a must read for anyone who is determined to work on financial independence and freedom.
I've read that book many times over the years, and it has definitely changed my life and that of my family as well.At the right time, a kind word from a stranger, or encouragement from a friend, can make all the difference in the world. Kindness is free, but it's priceless. ~ Doe Zantamata
"And it's always the right time!" ~ Woofy
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Tue, Jun 8th, 2010, 03:13 PM #34
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Not sure if this will work for other people.
Hubby and I did not own a TV for 6 years, and I find that it changed our lives. When I don't watch TV, with the accompanying advertisements, my wants automatically decrease. Also, my relationship with my hubby is very strong, because we talk a lot more with each other, since we don't glue ourselves to the tube.
And even now when I own a TV, I don't watch it much at all, as TV watching is no longer a habit.
I get most of my entertainment from reading, socializing with my friends, and on the internet (think SC). The days passed by so fast, that I never miss watching TV.
The only con is that when people talk about Survivors or some other reality TV show, I cannot contribute, but honestly, I think my life is interesting enough, I don't need to watch reality TV...
Brunt's post contains a lot of wise advise, and although some of the suggestions may be tough to be implemented in the beginning, the freedom and independence you gain from getting your financial house in order is worth its weight in gold.
There is no gain with no sacrifice. I think you and your family will have to bite the bullet and just seriously examine your financial life.
I know you have a page asking for donations, but I think that is more detrimental to you than helpful. Economic outpatient never really help. You may be able to tide over your crisis faster with donations, but you may also miss the important lesson that can be learnt from this crisis.
I hope you do not take this badly. It's just my 2 cents, and it is not meant to be taken as slamming.
I wish you luck!Last edited by Woofy; Tue, Jun 8th, 2010 at 03:18 PM.
At the right time, a kind word from a stranger, or encouragement from a friend, can make all the difference in the world. Kindness is free, but it's priceless. ~ Doe Zantamata
"And it's always the right time!" ~ Woofy
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Tue, Jun 8th, 2010, 06:05 PM #35
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My wife and I also cut cable and highspeed internet. This saved us over $100 a month that we were able to put towards other things. I discovered that there is free tv available if you purchase a High Definition antenna. I purchased a Channel Master 4221, placed it on my roof and I now enjoy HD tv with over 20 channels. I get to watch Survivor, ABC, FOX, CTV, CBC and many other channels all for free and legal.
check out www.saveandreplay.com for prices or www.digitalhome.ca for more information on free tv.
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Tue, Jun 8th, 2010, 06:17 PM #36
wow, what a fantastic thread.
wonderful suggestions guys!!
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Tue, Jun 8th, 2010, 06:36 PM #37
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There is a lot you can do and most dont realize how much they waste. # 1 is realizing and taking a step in saving money and seeing what you need to do. A lot dont see this such as my neighbours had a child and they are in major debt now renovating their house then expect me to hand them coupons and help them out. # 2 as others have said entertainment should be a budget I know I go out for coffee and things with coworkers but I usually use GC and such I get free or for Christmas. Also, invite others over and have like a buffet thing where everyone brings something. #3 Simple things such as having a alandline phone and a cellphone pick one or the other. I actually save hundreds a month having just a cellphone which is my cellphone. # 4 SImple things such as ac (my neighbours burn $400 a month in the hotter weather) meanwhile Ive always grown up with fans , closing blinds, and so forth. # 5 I always have a budget so say $x for groceries (I spend $40 but thats for myself). # 6 I walk into the store saying I have x.xx$ amount of money and I cant go over it. Also, think about cutting back your meats. My roomates never saw it but since I dont eat meat I saw the price spent. I would spend $40 a week (for myself) whereas my roomates would spend anywhere from $80 - $150 a week (for themselves that difference was meat). My Mom has done this and saves over $50 a week (they have so much to spend on meat each week). Unplug things your not using I actually found out that even if its still plugged in it has electricity going through my parents have done this and saved $200 a month on their bill. You have to budget and have the mind set you dont have to money which Ive been doing all the way through college and walking out with 0$ student loans and $0 debt.
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Tue, Jun 8th, 2010, 08:13 PM #38
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Financial Crisis - in true sense is on the way. Soverign debt default will reshape the global economy
Last edited by ashedfc; Tue, Jun 8th, 2010 at 08:15 PM.
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Tue, Jun 8th, 2010, 09:35 PM #39
thanks for all the advice everyone.
My new adventure....
http://www.etsy.com/shop/LexiekinPrints
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Tue, Jun 8th, 2010, 09:48 PM #40
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Don't forget babysitters if you do go out...maybe you can swap kids with a couple you know or ask relatives. Otherwise, it adds up to big bucks.
My DH and I decided to go out for lunch every two weeks (on his payday). It's been great and a lot easier to coordinate because the kids are already at daycare. It's really important to fit in time for each other, especially if money is tight!
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Tue, Jun 8th, 2010, 09:55 PM #41
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Wed, Jun 9th, 2010, 12:06 PM #42
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During heavy financial burdens in our lives, we must never forget to continue with our life insurance payments. If anyone is in a situation where money disappears quicker than what is earned, it is even more important to have a life insurance policy in effect, in case the worst happens. Imagine where you will be if something happened if one of the bread winners is no longer there, I don't think financial devastation would truly describe the situation. Please get a Term Life Insurance which is dirt cheap, easily understandable and provides peace of mind for your children. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
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Wed, Jun 9th, 2010, 03:30 PM #43
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With government maternity and parental leave you get top ups of up to 93% of the difference between your regular pay and your EI.
If people on welfare can afford to have and raise children then why are some government employees struggling with payments when they have children?
Anyways, that's besides the point. We are here to HELP the original OP, not criticize her.
There are lots of small things you can do to cut back costs:
Entertainment:
Sure entertainment could be zero, but with a 1 year old, I'm sure there are lots of times where you would love to get out of the house just to spend some time with your Hubby/SO. If you go on Tuesday nights, Cineplex has Telus Tuesday's and you get 1/2 price admission and half price combo (reg drink & reg popcorn). My husband and I went 2 weeks ago, and we just got one admission with the combo, and then 1 admission w/o the combo and paid only $14.00 for both of us.
Bills:
If your car insurance is up for renewal soon, start shopping around for pricing. Also if you pay for home/rental insurance, most insurance companies give you a discount when you insure your car or home.
Combine your internet/cable/phone services with one provider, and a lot will offer you a discount when you have 2 or more services with the same company. If you have a big cable/satellite package, you can also consider dropping it down to a basic package to save money.
If you are currently paying for bank fees, you could consider switching to PC Financial, and save a couple hundred dollars a year.
Another thing that you can do to really track what you're spending and cut back, is to try doing the Jar system. If you have watched "Til Debt Do Us Part", Gail Vaz-Oxlade teaches that method to the couples she helps. My husband and I started doing this, and it's really a great way to track what you're spending, and cut back in all areas.
Hope that helps!
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Wed, Jun 9th, 2010, 06:24 PM #44
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The child support thing. How old are the children by his first marriage? You mentioned that one child wouldn't have student loans. Well, when things get tough, the tough get going. My kids are working and paying their own way through school. I worked and payed my way through school. I kept my student loans to the minimum.
I just don't believe that parents are obligated to pay for post secondary school completely for their children. Help them out, not give them a free ride.
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Wed, Jun 9th, 2010, 06:58 PM #45
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