How is inflation affecting you?

[cjdewese]

Luckily we had no debt outside of our house that we bought in 2018 and have a crap ton of equity in the home at this point. It's our forever home so never moving or plan to take advantage of that. Just happy to be able to pay it off quickly, couldn't afford our house now if we were in the market.

One thing we did was buy a more efficient car, we drive a lot to pick up my son from his moms and go to his sports. The savings in gas from a lifted 4x4 4Runner to a Camry Hybrid is actually paying for the car and insurance. It keeps us from sacrificing our weekend trips to go hiking or rock climbing so luckily so far no big changes.

 

[CorbLand]

I had never even heard of that. I spent the last 10 minutes googling paying house off through inflation. Lol

Not sure if you mean this sarcastically but in the 70s the median price of a house was ~20,000 with a median wage of ~10,000 by the end of the 80s the median wage was ~17000. So if you bought in the 70s, your mortgage payment was reduced by nearly 40% compared to your income.

If you borrow on yesterdays dollar and pay it off with today, you are using inflation to gain. This is why you are generally advised to not pay off your house early.

 

[Glendon Mullins]

I drive 44 miles to work one way, 88 round trip, guess how that is effecting me

 

[Moserkr]

Fuel is up 3x what is was under the Trump administration. Food prices are up 30% on most items already. Eggs were 2x the price from a month ago at my local grocer.

The days of people throwing money printed out of thin air around are coming to an end, the effects of a forcefully shuttered economy are showing, and with WW3 on the horizon none of this should be too surprising.

 

[loganwayne]

i sold my diesel not to long ago, so no car payments for me. wifes car is almost payed off. she was giving me a hard time about driving 4 hours each way to spend a weekend fishing with a buddy but that went away when i came home with 20 lbs of fish fillets and a couple dozen pheasants he had saved for me. we are getting by without much change in our habits for now. have a freezer full of meat and fish and veggies from our garden and hunting and tons of canned stuff.

i dont see how people are affording to go out and buy meat for dinner every night as it is.

 

[RyanT26]

Not sure if you mean this sarcastically but in the 70s the median price of a house was ~20,000 with a median wage of ~10,000 by the end of the 80s the median wage was ~17000. So if you bought in the 70s, your mortgage payment was reduced by nearly 40% compared to your income.

If you borrow on yesterdays dollar and pay it off with today, you are using inflation to gain. This is why you are generally advised to not pay off your house early.

I was not being sarcastic. Spent most of the 80s driving around on my nightrider three wheeler, fishing, and climbing trees. Simpler times.
Found a couple good articles explaining it.

 

[Elkangle]

Averaging a grand a month in food...thats double what it was not long ago

Pluss side is I can justify that freeze dryer I've always wanted

 

[WV Mountaineer]

Just from experience, you might want to consider Mylar bags and oxygen absorbers for the beans, rice, flour etc.
The eggs in those that are there naturally will hatch eventually and ruin the food.

The beans are fine as long as they stay dry. Most of the flour is in Mylar bags. And, the curing and table salt will be good to go as well.

Thanks for the heads up. I’ve done this before in times of potential crisis. And my experience is as long as the beans stay dry, they are good to go. I’ve stored beans for nearly a decade without issue. Rice, I’m kinda new at but could see the oxygen absorbers and vacuum bags as a huge benefit though. Flour, I’ve always done what you suggested. I’ve kept it for a long time too.


I feel kinda foolish doing this. As in the past, it’s served as years worth of shelf food when the scare passed. But, I’m thinking with the POTUS warning the country of food shortages to come, this time around might prove to be a wise decision.


It kills me that every time we have a globalist lefty in office, we have these things happen. Yet, people will flock to vote for them again. SMDH.

 

[WV Mountaineer]

That's the point we are getting at. We are lucky that our apartment is cheap compared to others in the area and that the landlord hasn't raised the pricing to much. We havent found a home for lack of trying that is for sure.

I agree on the sympathy part as well. Not that I am really looking for sympathy but in the last two years, I have been told everything I have done wrong and never once have I been told I have done anything right.

Keep your head up bro. It sucks being where you are at. I bought my current home in 2006. I didn’t think I’d ever find a house I could afford. The Lord blessed us. It’s no mansion but, it’s mine and it’s nearly paid off.

I could have doubled the money these last 6 months if I sold. But, reality says I need to be thankful with what I have instead of trying to buy or build a home on sone land. I simply refuse to do it current prices. And, I honestly don’t think buying a home is ever going to get easier. I’ll pray for you guys.

 

[CorbLand]

I was not being sarcastic. Spent most of the 80s driving around on my nightrider three wheeler, fishing, and climbing trees. Simpler times.
Found a couple good articles explaining it.

I wasnt even born yet...proud 90s child.

 

[CorbLand]

Keep your head up bro. It sucks being where you are at. I bought my current home in 2006. I didn’t think I’d ever find a house I could afford. The Lord blessed us. It’s no mansion but, it’s mine and it’s nearly paid off.

I could have doubled the money these last 6 months if I sold. But, reality says I need to be thankful with what I have instead of trying to buy or build a home on sone land. I simply refuse to do it current prices. And, I honestly don’t think buying a home is ever going to get easier. I’ll pray for you guys.

Appreciate it. Its been hard to be completely honest. All of my friends have bought homes in the last couple years, newer vehicles, having kids, etc and my wife and I cannot figure out how. We make the same amount as most of them, budget way better and we cant make any of that happen. I am beginning to think that they are slinging drugs or started an onlyfans.

But we will make it through, it may just take a lot of cussing and a few beers but we will make it through.

 

[Lawnboi]

Appreciate it. Its been hard to be completely honest. All of my friends have bought homes in the last couple years, newer vehicles, having kids, etc and my wife and I cannot figure out how. We make the same amount as most of them, budget way better and we cant make any of that happen. I am beginning to think that they are slinging drugs or started an onlyfans.

We were exactly where your at a year and a half ago. We got lucky, you just need to be persistent and hopefully the same happens.

We spent almost two years looking at crap houses for insane prices. We saw the same houses go up 50k in that time span, not similar, same exact houses. Those that have it are cleaning house.

I was constrained to a small area due to job obligations which made matters worse.

Then we over paid for a house that I’m now fixing everything on. Total joke that there is zero bargaining power to the buyer for even obviously messed up stuff.

Guys making the same money, doing the same job, depending on the year alone can be much better or worse off. It’s irritating but something has to happen. We too know many people that way over leveraged themselves. Most the homes in my area sold to rich people from the cities buying a vacation home. Personally I hope it crashes and people lose their asses.

 

[WV Mountaineer]

Appreciate it. Its been hard to be completely honest. All of my friends have bought homes in the last couple years, newer vehicles, having kids, etc and my wife and I cannot figure out how. We make the same amount as most of them, budget way better and we cant make any of that happen. I am beginning to think that they are slinging drugs or started an onlyfans.

But we will make it through, it may just take a lot of cussing and a few beers but we will make it through.

the tax credit alone for a kid, pays for the kid, minus health bills. For the first 15 years of their life.

Something to consider. Because, I’m betting 99.9% of the parents you’ll ever meet, would/was saying the same thing. But, when it happens, you find a way to make it work. And, it’s worth every sacrifice to do so.

 

[loganwayne]

Appreciate it. Its been hard to be completely honest. All of my friends have bought homes in the last couple years, newer vehicles, having kids, etc and my wife and I cannot figure out how. We make the same amount as most of them, budget way better and we cant make any of that happen. I am beginning to think that they are slinging drugs or started an onlyfans.

But we will make it through, it may just take a lot of cussing and a few beers but we will make it through.

Same boat as you. I think a lot of people our age are carrying stupid amounts of debit.
Girl I know had her husband quit a good job to be her assistant since she is a realtor. Wife asked what I thought about it and told her that’s all the eggs in one basket. And that basket gets thrown up and all the eggs crack time to time.

Don’t get me wrong we have nice things. But we also don’t have a 120,000 wake board boat, 100,000 dollar truck and a 60,000 suv on top of a house and everything else.

 

[ewade07]

Appreciate it. Its been hard to be completely honest. All of my friends have bought homes in the last couple years, newer vehicles, having kids, etc and my wife and I cannot figure out how. We make the same amount as most of them, budget way better and we cant make any of that happen. I am beginning to think that they are slinging drugs or started an onlyfans.

But we will make it through, it may just take a lot of cussing and a few beers but we will make it through.

Thats easy, they're in debt up to their eyeballs. That and or living paycheck to paycheck. What you see on the surface doesnt necessarily portay what is really going on...

 

[CJ19]

Its not affecting me. I get 60 miles to the gallon on this hog.

 

[-bowfreak-]

Thats easy, they're in debt up to their eyeballs. That and or living paycheck to paycheck. What you see on the surface doesnt necessarily portay what is really going on...

This. My wife and I had these same discussions about 10 years ago when we had two kids in daycare. Our daycare payment was more than our mortgage. We were scraping by and had friends who were making less money than us with 2 new cars, nice big home, motorcycles and kids playing travel ball. I can't imagine the level of debt.

Those times were tough but I think many if not most young couples go through it. Tough times, but it builds character and before you know it a lot of equity.

Times will get better but this is going to be a really tough stretch.

Sent from my SM-G986U using Tapatalk

 

[Bobbyboe]

To this point inflation is not an issue for my family. My wife and I have been blessed with good paying jobs and got lucky with timing in the housing market. Right now we are still putting excess cash into the market on a weekly basis.

I is still have a hunting trip planned for this fall and got the Ok to do a January mule deer hunt. I am greatful we are in the position we are in.

I really hope things turn around soon, or lots of blue collar families are going to be in trouble.

 

[Gman12]

In my business, we have seen our vendors who usually have an annual price increase of 2-5% have had 5-7% price increases every quarter for a year now. Everything in my warehouse has increased at least 25% over the last 12 months. You couple this insane inflation and the supply chain issues and it makes it really tough to manage. And IMO it is only going to get worse through the rest of 2022. I predict we are headed to a serious downturn in our economy and the housing market is going to crash similar to 2008. Biden has screwed up a good thing in a single year in office and we are going to be in a recession very soon.

 

[TheGrayRider]

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