It is no secret that times are tough, the economy is weak and the cost of living is up, what are you doing to survive? Sharing may help others who are struggling. I found an article yesterday and believe that it is worth a look. http://finance.yahoo.com/banking-bud...ore-Each-Month. I am hoping we can compile a list together that will be beneficial to all.

Speaking for myself earning money has been hit the hardest.

I am a self employed mortgage broker and the mortgage market has been hit just about as hard as any and workable leads are scarce. I used to be able to convert (complete) 3.5 out of 10 leads if they were cold (not been qualified, they have not met any pre set criteria). 6 out of 10 if they had been pre-qualified (have met certain pre set criteria) but thats not possible at the moment.

By complete I mean lead (unqualified) to decision in principle (step 1), decision in principle to application (step 2) and application to completion (step 3). All three steps have a conversion ratio and the total for all used to be about about 3.5 in 10 now its down to about 1.4 in 10.

The article you linked to has some good ideas - being self employed I have already taken steps to minise outgoings but we sill have to live and have a life so cutting things out completely is a no no for me but I have stripped my work budgets down and try to make the most of any work I do get in.

I reakon things will get worse before they get better.

On the plus side its been a bit sunnier here today Its not all doom and gloom

Driving a lot less. That means car pooling, and doing more things every time I go out, so I don't have to go to the store, then home, then to a different store, then home again.

1. car pool
2. walk more
3. use public transportation more
4. buy products only needed
5. buy products on discounts or promo
6. eat free taste food in supermarkets while shopping

Changed my business model slightly and started making even more money than before..

Go me!!

Had another kid. One day I hope to have enough to start my own child slave labor camp making wallets, purses, or something like that. Its really more of a long term vision.

Originally Posted by cbwm

Had another kid. One day I hope to have enough to start my own child slave labor camp making wallets, purses, or something like that. Its really more of a long term vision.

You may say that in jest, but I can seriously imagine some "people" (chavs) over here actually having more children to claim extra child benefits! (No joke!)

drive less and carpool more
don't eat out as much anymore. that has been a big one to save money
less yard work and landscaping this year also. just dont have the extra money to waste.

I was also thinking of something like that. get more kids, pay less tax, produce more man power... interesting...

The more kids thing only works until they are teens.

We are driving less, grew a garden this year to offset some of the grocery bill and have not eaten out as much.

Originally Posted by KML9870

The more kids thing only works until they are teens.

I thought that was when you promoted them to lower level management as a reward for many years of hard labor.

Originally Posted by KML9870

The more kids thing only works until they are teens.

I think I read somewhere that if you have a girl that by the time she is done depending on you, you would have spent around $250,000 on her. I'm not sure how accurate that is.

back to the original question...

other than high gas prices, I have not had to adjust I have actually made more this year than any other year in my life.

Originally Posted by Cheshire_cat

I think I read somewhere that if you have a girl that by the time she is done depending on you, you would have spent around $250,000 on her.

Yeh, but when you consider that minimum wage in California is $8/hr for the most unqualified employee you might hire, and that it costs the employer an additional 15% of that wage to employ the person after you get through paying payroll taxes, social security, workmans compensation insurance, and other state and federal mandated employment fees, you only have to get 27,174 hours of free labor out of the child before you break even on those costs. Thats 2.6 years at 40 hours a week. I can knock that out before age 9.

Originally Posted by cbwm

Yeh, but when you consider that minimum wage in California is $8/hr for the most unqualified employee you might hire, and that it costs the employer an additional 15% of that wage to employ the person after you get through paying payroll taxes, social security, workmans compensation insurance, and other state and federal mandated employment fees, you only have to get 27,174 hours of free labor out of the child before you break even on those costs. Thats 2.6 years at 40 hours a week. I can knock that out before age 9.

I think you need to recheck your math. Working 40 hours a week for a year is 2080 hours. It's 13.06 years at 40 hours a week to get 27,174 hours. I don't think you ever break even!

gah, i used the famous 10400 hour work year, which means only a 200hr work week. So sorry. Fine. 13.06 years to break even so age 19, assuming we start at age 6. Lets also not forget that I plan to make a profit on their labor. If I would be paying $9.20/hr per child, I'd need to be making at least 50% their wage back on top. That $4.50/hr of income/profit over a year is $9360. Over the 12 years my child will work in my slave labor camp, that nets me an additional $150,000 if invested conservatively at 5%, or an extra $200,000 if invested in a well balanced portfolio. That means 5 children should not only pay their own way but make me an extra million dollars by the end of their 12 year tenure working for my company.