Young folks...The Economic Crisis...what are you doing?

I send this question to everyone, but especially our youngsters (30 and under%26#039;sh). I am sorry this crisis with the banks and the economy is happening, but you need to take steps NOW to preserve your future! What do you have planned? Are you %26#039;socking%26#039; away some $$ in a savings account, or Savings Bonds?

Are you paying down your credit cards? Are you keeping the cost of your cell phone bill minimal (yeah, that%26#039;s a biggie!)? If you%26#039;re able, are you looking to purchase a home? It%26#039;s a buyer%26#039;s market now, but choose your bank wisely (and ALWAYS go FIXED rate!)

Young folks...The Economic Crisis...what are you doing?apply for a loan

my hubby and i have already prepared for the fact that we won%26#039;t get social security benefits by the time we retire, even though we pay for SS now. so, i have a 403b and he has a 401k...both take a fixed amount from each pay. i am a teacher so i also have a retirement pension that is building up quickly. we also have a fixed amount of money transferred into a savings account. we just treat it like a bill.

we aren%26#039;t going to purchase a house until our credit card history is paid off and in good standing (it%26#039;s a long road, but we are prepared to do what we can to fix our past). we only buy things with cash when we have it. in the past two years, i think we have only put two pairs of (his) sneakers on credit cards -- but that%26#039;s what you get when your hubby has freakishly large feet and has to special order them online...lol. we pay those bills immediately.

we recently switched our cell phone plan to a pay as you go plan. we find ourselves being more careful with it all, and our bill was cut in half.

Young folks...The Economic Crisis...what are you doing?

loan

Great question.

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Just tactics like food, gas, electric bill savings etc. Very informative!

Also I have been saving money in silver in case the dollar crashes.|||Not sure if I qualify as youngish or not, I%26#039;m almost 36. However, I really don%26#039;t make enough to even have enough disposable income to open a savings account. My retirement plan right now is the state retirement plan from my work, plus a couple of savings bonds I purchased (then lost) about 10 years ago.

I%26#039;m not paying down my credit cards, but I%26#039;m trying to limit my use of them for food and other stupid things when I could use my debit card, or postpone the purchase. Don%26#039;t have cell phone (yes, I%26#039;m the one person in the free world who doesn%26#039;t have a cell or home internet service or cable tv). I worked at a bank for about two years and saw the horrors of ARM%26#039;s, and determined then that I%26#039;d never get anything except a fixed rate. Right now I%26#039;m trying to work myself into a better job, get some control over my spending, then I%26#039;ll work on paying down my credit card (not cards, I only have one) and generally getting out of debt. After I%26#039;m out of debt (and hopefully by then I%26#039;ll have a better paying job) I%26#039;ll look into buying a house.|||Well I%26#039;m 24 and I have a lot of money that I have saved --- 2/3of it is in a money market account and1/3 of it is in mutual funds (3 different ones) which are not doing too good now. My fiance and I bought an apartment together just a couple of months ago so we have the mortgage to take care of. Besides that I don%26#039;t have anything major that I owe besides the usual monthly bills like internet, phone, cable, car, insurance, credit card (1 only under $500).

I am hoping that it won%26#039;t get that bad =)|||i don%26#039;t think i am affected