Spending Habits

[Rockslinger]

How has the recession affected your spending habits?

After a hard day's work, a bunch of us from the project team would hit the civilian restaurants and bars and finish the night at an SC. I would personally spend $200-$300 every night. We don't do that anymore because we are currently "between projects" (read no money).

 

[danmand]

After having lost gazillions (by my standards) of $$'s in the securities market,
I have resolved to spend the rest before it also disappears.

 

[Gyaos]

After a hard day's work, a bunch of us from the project team would hit the civilian restaurants and bars and finish the night at an SC. I would personally spend $200-$300 every night. We don't do that anymore because we are currently "between projects" (read no money).

Yikes. That hurts. Let's just say, stepping back 2 steps to go 5 steps forward is okay, given the current environment. In my case, I have one (1) free Cathay Pacific First Class Flight RT Long Haul in tow that I can use anytime, even tomorrow, no expiration, expedite fee free, but I'm holding onto it (Net Worth Value (what one is willing to pay for that seat, unaware of the free ticket): $14,000 and depreciating....LOL).

You know "no cost", that's synonymous with free.

Gyaos Baltar.

 

[squash500]

no change in spending habit, maybe a little more cuz things are getting cheaper like gas and food and MP rate. it's always a good time to spend in recession. when economy recovers inflation is going to go through the roof so spend your money before they depreciate!

Actually I've noticed that food has got more expensive?

 

[Rockslinger]

Actually I've noticed that food has got more expensive?

Don't forget that the CAD has depreciated 20% since last year so imported stuff that are priced in USD's will be more expensive. Lot of vegetables and fruits are imported at this time of year.
Property taxes are also more expensive this year.

 

[hairyfucker]

how much do you spend on food? for me average $400 / month, and hobby spending usually equal to that or a little more.

Man can not live on food alone.

 

[Rockslinger]

People spending less on travel, hotels, vacations and casinos. Donald Trump's Atlantic casino just went bellyup.

 

[Cycleguy007]

My spending is actually up!

Food, energy taxes all up... Gas/ vehicle maintenance are less... (new car and gas price is down a lot from LY...) Travel about the same...

More on entertainment, especially lapdances!

 

[Lou Siffer]

Personally, I haven't changed my spending habits much. I haven't made any large purchases lately because I invested a lot of my free cash in an opportunity that came up.

From a business perspective, we haven't changed much either. We even hired a couple more people.

I think, in general, people are spending less on non-essentials, such as entertainment and vacations.

I know a few SPs have mentioned that things are slow right now but I don't know if that's a seasonal thing. Is there a seasonal aspect to hobbying?

 

[Rockslinger]

Hey, I hope you guys learn from my life experience. When times were good I thought nothing of spending $200-$300 a night with the "gang" on wine, women and song. What little surplus cash remained, I "invested" in equities.
1) Now I am "between projects".
2) My modest equity portfolio has suffered hit, after hit, after hit.

So, my advice to you is be careful out there. Unless you work in the public sector, your job could disappear overnight (yes, it can happen to you). Your asset values could decline significantly over a short period of time. Then you could come home one day and your SO is gone without even leaving a note.

 

[hinz]

Spend minimal and maxed out RRSP like clockwork before the recession, avoid bad debts like junk foods as usual and don't date civilian gfs cause some of them pose hazard/risk to your health and wealth.

Spending quality time and money with top notched MPA/SP without compromising your wealth and health (read: addiction) add more value.

Other than that it's same old, same old except you save even more for rainy days.

As far as portfolios are concern, the majority of people are underwater in various degree. I would suggest those who are lucky and cash in the gains before the crash or shorting the indexes and cashing in all the way down not to brag/get cocky nowadays. You could be a big target for either bailing out friends or relatives or worse getting hurt from others.

 

[Rockslinger]

Other than that it's same old, same old except you save even more for rainy days.

Saving for a rainy day is sound advice because you never know. Hope the other TERBIES are listening. And when it rains, it can rain for a long long time. Damn! I did not win Lotto 649 last night so you TERBIES are stuck with me for a while longer.

 

[Rockslinger]

Rock, you are so smart. Yes, you are.

During the "good times", you spent almost all your money on wine, women and song. At the same time, many of your co-workers "prudently invested" almost all their money in equities and real estate.

With equities at 12 year lows and real estate to follow, who spent their money more wisely?

 

[calvin & hobbes]

I haven't eaten out in ages and that makes me very, very sad !!!!

 

[Cycleguy007]

I haven't eaten out in ages and that makes me very, very sad !!!!

I here the "Y" can be quite exquisite! Depending on the owner of course!