Greater LBYM inspired by falling market?

[Nords]

Several of us have said that when markets fall, we plan to spend less than our usual SWR during a thriving market.
Are you starting to feel that way, yet? I am already thinking of putting off some furniture purchases, and I haven't browsed on Amazon even once since that first drop last week.

I'd say that this would be a great time to do more furniture shopping on Craigslist.

At Hale Nords we've started a familyroom renovation that should crank the spending throttle wide open. Maybe if other home-improvement wannabes are panicked into slamming shut their wallets, the contractor will stay motivated enough to spend more time with us. But we're still waiting on the designs to be finished, so it's too early to tell yet.

We've already decided to replace our 14-year-old Altima, and I don't see a stock-market speed bump causing panicked investors to sell their transportation. But maybe things will be different in a month or so.

I renewed my taekwondo annual contract last night-- but that was already a bargain at $85/month.

We bought a new toilet at Home Depot yesterday. I guess that raises our SWR too?

It's tempting to dump a wad of cash into the market, but we already have "enough". Not much motivation to chase after "more than enough".

However today our 18-year-old daughter may send another $200 to her Fidelity account.

Greater LBYM inspired by falling market?
Yes....I'm taking $1k instead of $2k for a spur-of-the-moment night of gambling.

Breaking news: "Bbbami cuts her gambling losses in half!!"

 

[REWahoo]

We bought a new toilet at Home Depot yesterday...

It's tempting to dump ...

Very subtle sentence structure...

 

[REWahoo]

Are we sure it isn't time for the Four Yorshiremen?

Maybe one - four would be wasteful on this thread.

 

[devans0]

Cutting back? I'm selling a house. Several offers are in play, including above asking price. A corporation made the low-ball bid. If they want to expand, they now are going to have to negotiate with the NEW owners. A corporation trying to gouge because of market conditions and their business is expanding rubbed me wrong.

 

[bbbamI]

Breaking news: "Bbbami cuts her gambling losses in half!!"

The odds are in that favor.

The past few months have turned me into a pressure cooker. If I don't let a little steam off, I'm gonna blow. I guarantee you that mess will cost more than $1k to clean up...

 

[Telly]

No really frugal is eating recycled dryer sheet sandwiches and skipping the peanut butter !

And as I read your post, I was thinking... Oh, we would have loved to have been able to eat recycled dryer sheet sandwiches!

Then I read on to Koolau's post, and I'm glad I wasn't drinking anything at the keyboard...

Yes, it is time! Here is the old original pre-Monty Python that I much prefer:
‪Original 4 Yorkshiremen Sketch‬‏ - YouTube
If the latest market gyrations have anyone contemplating jumping out the window, at least watch the video first

 

[obgyn65]

No changes here either. Still planning to go back to Central America a couple of times a year to support and operate free clinics, and still supporting free clinics initiatives here in the US. Not retired yet (but I will next year, hopefully). I have not cut any other expenses.

 

[Nords]

Very subtle sentence structure...

And here I was thinking that my sense of humor was too subtle for the audience...

 

[Helen]

The downturn is actually helping me to spend. I've been upgrading my backpacking gear and as I was mentally debating whether to go ahead and buy the new sleeping bag I thought of how useful the backpacking gear will be if the US economy goes belly up. I will head to the hills with my new gear and sleep in comfort as I watch the smoke rise up from the city.
-helen

Proud new owner of a Western Mountaineering Ultralight sleeping bag - the sleeping bag is almost as light as my wallet.

 

[HFWR]

And here I was thinking that my sense of humor was too subtle for the audience...

Why this board is flush with subtlety...

 

[audreyh1]

Today is my 12 years retired anniversary. We've been through 2 extremely nasty bear markets during that time period. I'm hoping this one is more in the "market correction" scenario as I think companies are way more sound than they were in 2008 (the unsound ones have already failed) and were already set up for our high unemployment slow economy. I think it's just that the markets finally paid attention to what the economy watchers had been warning us about for a while. Or maybe it's just that the stimulus keeping the asset prices up finally ran out.

I spent quite a bit of money today. A good chunk on wine.....

I reviewed our short-term funds and just realized I'd socked a good chunk away earmarked "Special Travel Fund" - I'd forgotten I did that earlier this year! A nice cushion.

Not sure that we're really going to cut back much. My gut says it might be better to spend more now if the future is going to be worse anyhow. You never know how much time you have or what nasty thing might be waiting around the corner.

Besides, if we really do get deflation, things will just keep getting cheaper...

Now if fuel prices would just keep coming down.....

Audrey

 

[Ronstar]

No so much inspired by the recent falling market. Mainly inspired by the prospect of both of us reaching full retirement soon, yet still spending too much. So we need to improve LBYM regardless of the market. Using less gas, electricity, etc - we're making a little progress.

 

[Fireup2020]

No - we are following through with our home improvement plans - and continuing to score discounts and deals along the way as well. This economy allows for better deals than when everyone is feeling financially-fat! Vacations are always booked with FF miles...

 

[novaman]

It's a little late for us. We have already booked our flights and hotels for a trip to Seattle and Vancouver. We may refrain from spending too much there.

Hey! We just got back from seattle and Vancouver! You are going to love it!!!

 

[audreyh1]

It's a little late for us. We have already booked our flights and hotels for a trip to Seattle and Vancouver. We may refrain from spending too much there.

If someone already has a tripped planned, just go and enjoy it! Ignore the market shenanigans. You never know what is around the next corner. It's important to really enjoy each trip, because who knows if .... Don't let stupid market events distract you from enjoying your life.

If you truly can't turn off the daily market noise, then build yourself an extra cushion during the less volatile times so that you can enjoy yourself without feeling like you have to hold back during those times that have been designated for max fun!

Audrey

 

[Mulligan]

yes, we had the enhanced "austerity" discussion this past weekend. we are cutting back by about 10%....no NFL Sunday ticket for me...:-(

JBmadera- Life isn't worth living without the NFL Sunday package. Call and threaten to cancel. I did that last week and they dropped the monthly fee from $53 to $33 a month. Buy cheaper beer to drink while watching and you still met your austerity guidelines!

 

[Meadbh]

Moving made 2011 an expensive year, but I am now more or less back to my previous relatively frugal ways. I have a better schedule and am doing more home cooking, which is both healthier and cheaper. I am spending more on gas because my commute is longer, but I have not bought a new car, which I had planned to do. I am planning to use frequent flyer miles for my winter vacation. I have allocated myself a budget for the remainder of 2011, which I have never done before. That will be a good test of my ER budget. I have bought golf clubs and am taking lessons, but a girl must have some fun!