[vegasspeed]

Are more worried about losing their jobs than getting a new car or new parts for their car?

Is it me or does it seem like the people on this board are in a bubble compared to everyone I talk with in person. Everyday I hear about someone losing part of their salary or losing a job.

Is there that many people here who live with Mom and Dad?

[citrixscu]

No job = no monies = car has to go

[mroach]

My job's not going anywhere
I'm putting more money into my car too. Buying 193 rims in the summer with Pirelli tires and getting the M-Sport steering wheel. Might also go for the BMW Performance suspension and illuminated door sills.

[ToadHollow]

I planned for the future and haven't worked since last March ....... ......... nope, not living with mom and dad!

Still, the company I used to work for is closing different plants/facilities all across the US. Some friends of mine have relocated to different places with the company and some have taken severance packages. Friends of mine who can afford it are paying all of their larger bills (car note, mortgage, insurance) a full year up front just so they don't endure the added financial stress ........

SAVE .......... SAVE .......... SAVE

[kyleb350]

I guess it depends on the industry you work in and company you work for and how volatile they are to a recession.

Not really the case for me.
<knocks on wood>

[ejazbmw]

i live with my parents but I'm only 20 and going to college and working part time, don't care if i lose my job though because i have plenty of money saved up in my acct

[Nomad]

I own my own company and it is still doing well thank goodness.
But I am part of the computer industry with a product called SAP which is not going anywhere anytime soon.....
Now I am going to go find some wood to knock on....

[dubiousONE]

Originally Posted by vegasspeed

Are more worried about losing their jobs than getting a new car or new parts for their car?

I bought my car 10 days AFTER I got laid off and lost my job. So the government helped me fund my car payment for several months.

I actually just got a new job 2 weeks ago and working again.

[Kilgore Trout]

Originally Posted by vegasspeed

Are more worried about losing their jobs than getting a new car or new parts for their car?

Is it me or does it seem like the people on this board are in a bubble compared to everyone I talk with in person. Everyday I hear about someone losing part of their salary or losing a job.

Is there that many people here who live with Mom and Dad?

Do you really think that people come to car chat board to talk about the economic downturn? We come here because it is fun, we're enthusiasts who are excited about our cars, and we all want extra information. I know I've learned a ton here.

Am I worried about all the money I lost on the market, the rising unemployment rate, my own econmic future - of course. I'm not totally removed from reality.

But, that doens't mean I want to spent my time on the internet talking to BMW drivers about my $ problems.

If you are really interesting in chating with people about your fears concerns your job security, this is probably not the best outlet.

[Cutter]

No doubt that the economy is bad but the media makes it worse by making people think about cutting costs all the time. That ends up having a domino effect.

Yesterdays news :The job loss reported has not yet happened... It was only announced.. media did make a big deal out of that too. It sounded as if it was the job loss in one day when it was not. Those job losses take effect till end of March for the mentioned corporations.

Its like that story..

One man is doing good with his business and starts hearing about economy getting worse in coming years. So he starts cutting down on his flourishing business and stops providing facilities to his customers.

And slowly as luck would have it.. lesser customers started coming in..and he had to shut down one fine day. . and then he said to his son.. "Good that we cut down on cost beforehand"

Whata moron! If you keep listening to negative news.. you become part of it.

[HermesRider]

People's hobbies and interests should not go away because of the economy. That would be a recipe for depression. I enjoy reading this forum more than reading the news, as I'm sure a lot of people do. Although my job is fairly secure (knock on wood), I have cut way back in mod spending just to increase savings and cash on hand. Wonder what you might get asking that question in a Hummer forum?

[GAM3OVR85]

Originally Posted by vegasspeed

Is there that many people here who live with Mom and Dad?

I live with my parents .
Im not worried about losing my job cuz i don't work lol......well, my job is to stay in school. My parents paid for the car, and i don't pay for anything (gas, insurance, etc).
Im 19, and if i tell my parents im going to live alone, they'll kill me and i would have my baby (car) taken away lol.

[ToadHollow]

I have found that the less news I hear/watch or am aware of the better quality of life I experience.

NO, I'm not turning a blind eye to reality however, as someone posted above, the media loves to bring drama into the news forum with anything that might cause a stir.

I keep up with my local news and could really care less about what the media considers to be "news". I see the media for what it is and ..... ISN'T.

Our govt. is corrupt .......... the economy is in a recession ......... BMW is still dealing with the lag issues .......

Ok, the latter is a concern of mine

[MontegoGoGoGo]

I own my own business too and it is scary!

Luckily I have only noticed a small decrease in revenue due to clients cutting back on spending in all arenas. But with my industry that's not atypical around the end of the year when budgets are stretched as it is.

I'm lucky in the respect that I have a niche where I can undercut big agencies in price, and a lot of companies are ditching their large agencies for smaller ones. So, actually this year I expect to see an increase in revenue.

Good luck to everyone and my heart goes out to all of those less fortunate and who are running into just plain old bad luck.

[Bimmerista]

What recession ?

I haven't spoken to mom in a long time - hm I should see if she's OK

On a (slightly) more serious note - I know people in the investment banking world that have lost their jobs as a result of the recession.

I am personally not affected in a manner which would make me not get another BMW.

[2kaccordocoupe]

I'm not concerned

[NewSong]

I'm thankful to be employed. We all should be (if you are).

[JeffL]

.

[JRJ1970]

If I lose my job, I'm cashing out my 401(k) and paying the puppy off. Might as well put that money to good use before it dwindles to nada, right?

[Spoolin335]

im not concerned, and i dont live at home. i also have a lot of money invested right now and dont think ill be losing my job anytime soon.

[mike-y]

Originally Posted by jrjinsa

If I lose my job, I'm cashing out my 401(k) and paying the puppy off. Might as well put that money to good use before it dwindles to nada, right?

No, that would be bad. You don't lose your 401k if you get laid off, and you are taxed heavily on it if you take it out early. but you were probably joking


As long as you have saved well enough, and don't go crazy with how you spend the money, you should be able to ride out the recession for a while. I made sure my job was secure through next year before I got the car, and have enough savings to get through the next 2 years without working.

The industry I work in has been greatly affected, but we have been lucky enough to land a few jobs that will carry us into 2010. Hopefully by that time, we'll have some more projects and things will be picking up. In the mean time, I still plan on saving as long as I am working. I try to save $700-$1200+ a month.

[slipperman]

Originally Posted by Nomad

I own my own company and it is still doing well thank goodness.
But I am part of the computer industry with a product called SAP which is not going anywhere anytime soon.....
Now I am going to go find some wood to knock on....

SAP 2000? the structural analysis program?