Willing to cut down when the financial situation is bad?

[koeks]

So i was talking to a couple of people. It seems very hard to downgrade when the financial situation is bad. But It also doesn't make sense to maintain your lifestyle when the finances are drying up?

So would you give up that lovely house, Car? For a smaller one when you are financially strained?

Is downgrading easier sad than done?

 

[Jewelbox]

When you are forced to downgrade, you have no choice!

 

[koeks]

When you are forced to downgrade, you have no choice!

But do people do it on thier own before they are forced into it?

 

[Pitbull]

So i was talking to a couple of people. It seems very hard to downgrade when the financial situation is bad. But It also doesn't make sense to maintain your lifestyle when the finances are drying up?

So would you give up that lovely house, Car? For a smaller one when you are financially strained?

Is downgrading easier sad than done?

The biggest problem is:

People should have cut down ages ago. If you have disposable money now you are in your element. Cutting down now will only soften the blow, people who have extra money now are reaping fruits all over the place, it's one Massive special out there

 

[The_Unbeliever]

We cut down long ago.

Medical was one of the things we had to give up.

 

[superB]

We cut down long ago.

Medical was one of the things we had to give up.

You gave up medical aid? That is not even an option in my books! Medical aid has saved me and my family thousands upon thousands! And that is excluding chronic benefits - that's just emergency room stuff / car accidents / sick children etc etc

Arent you worried that you may land in a crisis?

 

[oober]

We cut down long ago.

Medical was one of the things we had to give up.

I hope you at least have a Hospital Plan? If you are in an accident your bills can go into the millions...

 

[syntax]

You gave up medical aid? That is not even an option in my books! Medical aid has saved me and my family thousands upon thousands! And that is excluding chronic benefits - that's just emergency room stuff / car accidents / sick children etc etc

Arent you worried that you may land in a crisis?

Normal medical aid seems like a load of BS to me, i was on an exceptional hospital plan, put the money i would have used for MA aside...ended up with alot of extra cash, unfortunately the g/f wants us on full cover....i caved...

 

[blunomore]

Normal medical aid seems like a load of BS to me, i was on an exceptional hospital plan, put the money i would have used for MA aside...ended up with alot of extra cash, unfortunately the g/f wants us on full cover....i caved...

I am very ambivalent about medical aid. It seems a waste of money, but illness and accidents come when you least expect it, so you cannot even predict it .....

 

[Dolby]

I cut out my girlfriend early December ... saved me thousands of Rands per month

 

[Moederloos]

But do people do it on thier own before they are forced into it?

The smart ones do....

We have cut gardener to 2 days a month from 4.
Domestic has been let go. We now share one with a neighbour.
Cell phone contract is cancelled.
Luckily cars were both paid off in July last year.
We eat a lot less meat (although we were never big meat eaters to begin with)
We go out once every 2-3 months only.

And we did all that long before the poo hit the wall - and that all prevented the poo from hitting said wall.

 

[Slootvreter]

I cut out my girlfriend early December ... saved me thousands of Rands per month

Thousands?

 

[Dolby]

Yup ...

Covered the majority of groceries, all take outs and food, all drinks at the pub. Those alone are over R2,000.00 ...

 

[Slootvreter]

Yup ...

Covered the majority of groceries, all take outs and food, all drinks at the pub. Those alone are over R2,000.00 ...

I thought you meant you cut her out from Medical aid! Yep, I also did that, but then you are responsible for your rent by yourself though!

 

[koeks]

Yup ...

Covered the majority of groceries, all take outs and food, all drinks at the pub. Those alone are over R2,000.00 ...

GFs can be quite costly at times

 

[The_Unbeliever]

When things will be well financially, we want to look at a hospital plan.

 

[Moederloos]

When things will be well financially, we want to look at a hospital plan.

Something like 50-60% of the national budget goes towards:
Education
Police
Health Services


And yet we need medical aid.....

Yet another reason to back them bags and leave ZA.

 

[supersunbird]

Well, there isn't really anything I can cut, but then again, I don't have to cut anything since the petrol price has come down so nicely and can now comfortably get by...

 

[TelkomUseless]

I didn't spend all my money when the economy boomed. I kept a low profile. When people spend on plasma tv etc, I put all my money in my bond. Almost 1/2 my bond.

Bought a new house December last year. Went with SA HomeLoans (which is awsome). Fixed rate for 20 years. So I know exactly what my payments will be even if the intrest rate goes up to 18%. If intrest rates drops, my payments drop.

In Feb my car was stolen. Didn't owe any money on it. Had to buy another one. So I traded my other car, a Peugeot, in for a cheaper car. Not only is the new car costing me less in payments, but in maintenance too.

Wife payed off all her accounts during the "good" years.

So I only owe on 2 cars and the house, but the payments are not that steep.

I try not to spend too much, I try save some money (difficult in these times).
Edit: With the petrol price coming down... it made a nice dent in my petrol bill

 

[koeks]

I didn't spend all my money when the economy boomed. I kept a low profile. When people spend on plasma tv etc, I put all my money in my bond. Almost 1/2 my bond.

Bought a new house December last year. Went with SA HomeLoans (which is awsome). Fixed rate for 20 years. So I know exactly what my payments will be even if the intrest rate goes up to 18%. If intrest rates drops, my payments drop.

In Feb my car was stolen. Didn't owe any money on it. Had to buy another one. So I traded my other car, a Peugeot, in for a cheaper car. Not only is the new car costing me less in payments, but in maintenance too.

Wife payed off all her accounts during the "good" years.

So I only owe on 2 cars and the house, but the payments are not that steep.

I try not to spend too much, I try save some money (difficult in these times).
Edit: With the petrol price coming down... it made a nice dent in my petrol bill

I must also say that the petrol price is helping with the cutting down...