How is inflation affecting you?

[cjdewese]

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.

Live like nobody today, so you can live like nobody later.

Just stay the course, make good decisions and as you work more you will see positive change. It's hard starting out, my wife and I went through a bunch of what you have but we stayed committed to paying off our debt knowing that the less we had to put out each month the better off we would be.

If you have any friends that you trust that are living the way that you mentioned, ask him how he is doing it and how it's going. I bet you will realize that most if not all are living paycheck to paycheck and are 1 wrong step away from being in real trouble.

 

[DAOutfitters208]

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.

They could just be heavily indebt, its not uncommon. I see a lot of people with massive vehicle/toy payments and I just cant stomach it. You probably sleep better at night than them.

Or they got funding from their family, that's not uncommon.

Keep stashing cash away for a house and don't feel pressured to get into this crazy market, it will level off at some point.

 

[scott85]

Nobody wants to buy my stuff!!

 

[rojocop]

Its going from bad to worst...

 

[JasonWi]

Overall the biggest affect inflation is having on me is the cost of fuel. I work about 70 miles round trip and drive my Tundra still as the additional cost of insurance, and used car prices haven't justified to me to buy a commuter vehicle.

We're very fortunate to also be debt free (but we do rent, as the housing market here in Oregon... like everywhere else is absurd!) so we're saving 2-3k...each month in addition to our 17% in 401 k accounts.

We keep thinking eventually the market is going to crash as the costs of home, increasing mortgage rates, high inflation on daily living expenses, decreasing earnings in the stock markets eventually have to come to a boil.

Overall I've stopped doing any extra driving unless its for work. I've stopped going out to eat completely(last two years) given up buying energy drinks and curtailed my fun shopping and just hunkering down saving piles of cash and watching the poop show unfold.

 

[*zap*]

Plenty of stuff costs more and the amount you get has been downsized...less on a paper towel roll, less in a mountain house package and so on.......the downsizing has been going on for over a year.

 

[5MilesBack]

Plenty of stuff costs more and the amount you get has been downsized...less on a paper towel roll, less in a mountain house package and so on.......the downsizing has been going on for over a year.

As soon as the companies make the products smaller or less quantity, I move on to another company's products. I've been doing that for years now since Safeguard soap made their bars smaller and Dwyers ice cream made their containers smaller in the early 2000's. Some of the bacon companies started putting 12oz in their packages instead of 16oz too. That's a big "NO". I'd rather they just raise the prices than pretend that we're idiots that don't notice.

Each time I'd send a letter to the CEO's and they'd send me some coupons for free products. I don't want your stupid free products, I want them in their original sizes.

 

[Rural Alaskan]

I manage a feed/hardware/auto parts/grocery store in rural AK for a friend. We have seen prices go up between 50-100%. One of the local gas stations keeps their gas as low as they can, otherwise the others will run away with it just because they can.

 

[JJJ]

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.

Oh no worries. I wasn’t trying to imply anything like that you didn’t know what was up.
I had several
Bags of beans hatch eggs and ruin other foods, including my rice. I didn’t know about the gallon size Mylar bags and oxygen absorbers until then. So now I just throw bulk foods in them and forget about them.
And yes I’m with you. but I’ll refrain from commentary - I have a lot to say. But I don’t want to take over this thread.

 

[dreamingbig]

Overall the biggest affect inflation is having on me is the cost of fuel. I work about 70 miles round trip and drive my Tundra still as the additional cost of insurance, and used car prices haven't justified to me to buy a commuter vehicle.

We're very fortunate to also be debt free (but we do rent, as the housing market here in Oregon... like everywhere else is absurd!) so we're saving 2-3k...each month in addition to our 17% in 401 k accounts.

We keep thinking eventually the market is going to crash as the costs of home, increasing mortgage rates, high inflation on daily living expenses, decreasing earnings in the stock markets eventually have to come to a boil.

Overall I've stopped doing any extra driving unless its for work. I've stopped going out to eat completely(last two years) given up buying energy drinks and curtailed my fun shopping and just hunkering down saving piles of cash and watching the poop show unfold.

But what are you doing with your cash? It is losing value in your bank account.


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[dreamingbig]

Consumer debt is skyrocketing. ARM's are making a come back, yeah the loan that created '08. The average American can't not afford paying an additional $300-600 a month on food, utilities, gas, and every other item that's simply costing more.
If prices level out before fall, most will make it, if prices hold or continue upward into next year, there will be deals to be had like in '08.

ARMs aren’t making a comeback and not in the version that you are worried about. The borrowers are qualifying at the fully indexed rate and there are very few interest only options.

The yield curve is also flat as a pancake.

I would be more worried about energy prices and supply chains than mortgage products.


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[JasonWi]

But what are you doing with your cash? It is losing value in your bank account.


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I’m putting it in a Marcus Goldman account that’s earning 0.5% interest. I agree it’s not earning at the percentages to keep up with inflation, but we also wanted it available so if the perfect home came along we could jump on it.

If you know of a better option, I’d love to hear about it and discuss this further via PM. Tks!

 

[Blandry]

The biggest problem is that I'm now making about $98k/year. Believe me, I'm NOT complaining, however I was making $80k/year back in 1997 at 27 years old. A nice new truck was $30k, now double that, insurance doubled, utilities have doubled, phone, food, everything has doubled except my salary and now it's getting much worse. Hell, you could buy a 3000sq ft home back then for $250k in a major metro. Median home price where I currently reside is $550k.

That ain't working but if I complain people tell me how 'lucky' I am and that I don't know how to manage my money

I've had management 'opportunities' to increase my earnings over the years, however I'm happy to have time to hunt/fish and do all the things I enjoy without that stress. I'm also single no kids so..I don't want to be tied to a laptop/teams/phone non stop. I'm more than happy where I'm at.

I'm old and regret nothing but fear for the next generation.. it will be impossible for them to own anything.. good luck and vote properly.

 

[svivian]

The biggest problem is that I'm now making about $98k/year. Believe me, I'm NOT complaining, however I was making $80k/year back in 1997 at 27 years old. A nice new truck was $30k, now double that, insurance doubled, utilities have doubled, phone, food, everything has doubled except my salary and now it's getting much worse. Hell, you could buy a 3000sq ft home back then for $250k in a major metro. Median home price where I currently reside is $550k.

That ain't working but if I complain people tell me how 'lucky' I am and that I don't know how to manage my money

I've had management 'opportunities' to increase my earnings over the years, however I'm happy to have time to hunt/fish and do all the things I enjoy without that stress. I'm also single no kids so..I don't want to be tied to a laptop/teams/phone non stop. I'm more than happy where I'm at.

I'm old and regret nothing but fear for the next generation.. it will be impossible for them to own anything.. good luck and vote properly.

Are you working for the same company since 1997?

 

[CorbLand]

The biggest problem is that I'm now making about $98k/year. Believe me, I'm NOT complaining, however I was making $80k/year back in 1997 at 27 years old. A nice new truck was $30k, now double that, insurance doubled, utilities have doubled, phone, food, everything has doubled except my salary and now it's getting much worse. Hell, you could buy a 3000sq ft home back then for $250k in a major metro. Median home price where I currently reside is $550k.

That ain't working but if I complain people tell me how 'lucky' I am and that I don't know how to manage my money

I've had management 'opportunities' to increase my earnings over the years, however I'm happy to have time to hunt/fish and do all the things I enjoy without that stress. I'm also single no kids so..I don't want to be tied to a laptop/teams/phone non stop. I'm more than happy where I'm at.

I'm old and regret nothing but fear for the next generation.. it will be impossible for them to own anything.. good luck and vote properly.

Wait are you saying that wage increases have not followed cost of living increases? That's blasphemy.

 

[Bigwilly556]

Work for the government. A particular situation has caused us to work 60-84 hours a week. So I have extra money on hand. Build 2 new rifles and grabbed some new gear. My back account and investments are expanding exponentially. I have no wife or kids. Feel terrible for everyone who is having a hard time and I'm burned out!

 

[go_deep]

Averaging 60 hours of OT a month since the beginning of the year, guess that's one of the pluses to not being able to find people to work.

 

[*zap*]

60 a week?month?

 

[go_deep]

60 a week?month?

Edited it. A month, this is our slow season. Can't wait for summer...

 

[*zap*]