I got a motorcycle =) Now my trips around town are more fun!! Filled my tank for 12 bucks and that will get me 250 miles. So far that is the only change I have had to make. Then again, my friend who lost 200k in the market last week has a different story to tell.

I think that the vast majority of this country is in the same shoes as you.  My wife and I pretty much do the same as you.  The thing that frustrates us is that there is no help out there for the responsible. 

Our home is way overvalued at this time.  And we didn't buy a mansion by any means, we just have a 1200 square foot home.  When I recently called our mortgage company to see if there was anything they could do to lower our payment, I was informed that I would have to be deliguent before they would even talk to me. 

We struggle each month to pay our bills, but we pay them.  This means we do without a lot, and don't get to do a lot of the things we want to do.  Sometimes, we are lucky to have $100 to just leave in the bank for emergencies. 

I really think that if we want the country to pick up, it isn't a matter of getting bad loans off of the books, but giving people like you and me, that pay our bills every month more to spend on other things.  Banks should be willing to write down mortages and lower peoples payments so they can actually spend more money elsewhere.  With so much tied up in people's mortgage, there just isn't enough to go around. 

I am in the same boat. I bought a civic when gas was cheap and managed to pay it off. I live in an apt where my rent has stayed the same and look for deals at the market. I have not felt much of a pinch with the economy the way it is ... my 401k has taken a hit but i am not set to retire for about 30 years so i have time to ride out the market

I've noticed the escalation in food prices. Von's used to put spaghetti on sale for $1 a pound; now it's $1.25. Pasta Roni went up, but then went down.

The cost of flying has gone up by $30 — the cost of checking a bag each way — because I try to travel for long enough that I can't just carry a carryon. (Also, I kind of hate people who bring a huge bag into the cabin, so I try not to be them, still, even though now the airlines are promoting this behavior even more than they already did.) I'm trying to cut back on flying out of Bakersfield, but the cutbacks on the trips the airport bus makes it harder.

I was looking at scooters at the fair and one got 100 mpg.  Cost was under $2500.  Back in about 1969 I rode a Honda 70 to work on the back roads.  Slight correction.  I rode it down Patton Way to Downing to Fruitvale Ave. to Norris Road.  In those days those WERE back roads.  And gas was cheap then.  Of course, so were wages.

I havn'e felt much of a pinch since my expenses are pretty fixed and so is income.  The fair bit me but that's only once a year.  From the crowds out there you wouldn't know anyone was concerned about the economy.

I read somewhere that they stopped charging luggage fee.  Anyone fly lately?

I flew over Labor Day weekend, and United was charging it then.

It's the dumbest idea. "We're all going broke," they say, "but we can't raise fares because of competition! So we'll raise fares in a backdoor way, and we'll all do it!" Why don't they just raise fares?

I'm waiting for the chance to demand my $15 back when they lose my luggage.

There are plenty of people and businesses which have been directly impacted due to the current economic crisis.  Most companies are being forced to charge out for things which they used to do or give away for free.  The continued issues with gasoline prices has had a direct impact on the consumer, as the freight carriers have raised rates, thereby forcing the vendor to raise prices, which ultimately hurt the consumers.  The housing market has definitely had a negative impact in certain areas of our local economy, but thanks to the oil boom I don't think it's as bad as it could have been.

Of course, many of our economic problems lie in far more complicated environments - such as the rising cost of out-of-pocket healthcare expenses and the ridiculous fees which banks and other financial institutions levy on the consumer who's already doing everything they can to pay their bills on time. Even if our economy were to bounce back tomorrow, these issues wouldn't be resolved.

As far as myself personally, the cost of food has probably the biggest impact in my house.  Luckily I've discovered the local farmer's market on Saturday mornings, which has cut my grocery bill in half.

The word is we are not in a depression; just a really long bad day;D 

Nancy, they stopped charging luggage fees to active-duty military personnel who are flying commercial to either get to a base or to a deployment location. They had been trying to charge them for each piece of checked baggage before (which is usually at least a dufflebag, if not also weapons). When people raised a stink over that, they quickly backed down for military, but kept the fees for the general public.

As for my personal financial impact, as others have noted, the cost of food is what I notice the most, both for human and pet food. Either the price goes up or the size is reduced while keeping the same price. The price of gas doesn't affect me directly (since I drive a Civic and live close to work), but it does seem to be hitting me through the cost of food.

My income is from my investments, including the rental units that I own.  Right now I have 100% of my properties occupied.   In anticipation of any future decrease in my income  I took a serious look at my finances over the summer.  After consulting with my high school age children we decided that in an effort to avoid a potential future financial crises they would be allowed to attend public schools for the first time in their lives.  By giving up these last six combined school years at Garces we have saved over $42,000.  I will now plan on using this money for college expenses.   Was it an easy choice to make?  No it was not.  Are they happy at their new High School?  They are happy and already have many friends there.   Am I complaining?  No, I am just commenting on one of the ways I have cut back on my spending.  I am actually a very frugal person.  That is how I was able to send all of my children to private school over the past 16 years.  Was it a frivolous expense in the first place?   Not to me.  Can I continue to justify the expense of private high school tuition?  No I cannot.   If I needed to economize further I would consider getting rid of my RV and the associated storage fees, firing my yard guys, canceling cable TV and Internet access,  or canceling my gym membership.  We could also say "Bye, bye, Banks. Hello bugs" by canceling our quarterly exterminator visits. I would probably cut back on the amount of money I spend buying cookie dough and other  fund raising items from the neighborhood children.  I already grow most of the produce we eat and we make good use of hand me downs. I keep the AC temp set high during the daytime, I always have.   I could, if desperate try to liquidate properties but this is not really a good time to sell. I don't even want to look at my 401K statements.  My IRA was already down over $6000 for the year in June.  If I was healthy enough I would sell my Plasma.  Added by edit... I remembered that I did cancel the pet health insurance on my cats.  That saved about $600.00 a year.   I hope they stay healthy.  

The 401K took a hit ,but we figure we will work till we drop. Bills are tough,but I know how to "do poor"~ right now no AC and it stays off till it gets really cold~ in the winter I keep it at 58 degrees anyway.House is paid for so I am lucky there. All my friends are feeling it.Food ,gas, all way up.In the future medical that may be a nightmare,depending on a good or bad report.

Sage, you are very lucky to have your house paid for.  I want nothing more than to own my own home, and I envy you being in that position!

My salary at my primary job stays pretty much the same, with the exception of a couple of long-overdue increases over the past 2 years.  But my second job has definitely taken a hit.  I would estimate that since January, I've only made a 3rd of what I'd made by this time last year.  Plus, cash tips are waaaaay down. 

My rent goes up $30 a month every December; that's a given regardless of the economy.  So, I'm looking at, at least a $30 increase this year, possibly more since the raise in East Kern Water District charges.  I don't have as much "free" cash to spend as I'm accustomed to.

But, I'm paying my bills, I eat, I have a roof over my head.  And after January, I'll no longer have to make truck payments.  I feel a little bit pinched, but I'm making it.

I bank overseas and that saves a bundle, Just finished redoing my rentals and have new tenants with a modest raise in rent so that`s working nice, also have a new rental company to handle all business so that frees me up from flying back so often, saves money, all in all with the exchange rates of the dollar we do quite well when we are here.

 Was down in LA last weekend and the hotel across from Disneyland only had 3 cars in the lot , we went a little square that had 12 restaurants in it and at 8pm on a Saturday night we were the only ones in the whole area...there`s some hurtin down there...

Thanks for all the thoughtful response. After reading your thoughts, I do have a couple things to add: One is, yes, my out-of-pocket health expenses have gone up (at $25 a pop for a doc visit, the OB appointments really add up). Also, yes, my 401(K) I'm sure is getting hit. But like foodjunkie, I'm young enough (32) that I've got several years of work ahead of me and I'm sure I'll see it steadily rise in that time.

Luckily my '97 Ford Ranger is in great shape and has been paid off for years, so I have no car payment. However, my significant other and I will be buying a "family vehicle" in the next couple of weeks and it's going to be very interesting to see what kind of haggling power we have given the state of the auto industry right now.

I actually decided to drop my 401K from taking 10% out of my paycheck to just 5%.. that way I'm still saving, but it gives me a little more to work with each month.  Luckily, now that my wife is working again, I should be able to bounce this back to at least 10% in a few months.  The quicker, the better, because for someone in their mid 20's, if they can afford it, now is the time to invest.

for me, the threat of state budget cuts in education and the ensuing panic saw me receiving my lay-off notice in february of this year.  failing to pass a budget on time resulted in a hiring freeze for most state employees; now that the budget has finally been passed, i was hoping that the hiring freeze would be lifted.  no such luck.  i found out today that the hiring freeze (by executive order) is still in effect through january.  january is traditionally the time when state agencies decide that they have no more money and decide to set hiring freezes of their own. 

so yes, the downturn of the economy has greatly affected me.  i AM thankful that i am not homeless yet, since while i was employed i chose to live well within my means. 

msemilyh, I'm sorry to hear about your job situation. If I were to be laid off, I would face tremendous hardship, since my job is my safety net. I wish you the best as you search for a new job.

Update: Well, I bank at Washington Mutual. Now I'm curious to see how the takeover by JP Morgan affects me, if at all. Hopefully the word that this will be a "seamless" transition holds true. I'm not planning to go take out all my money and cancel my accounts today, in other words. My mortgage is not through WaMu, by the way.