The price of "things"

[cee]

How is the increasing price of gas, groceries, everything for that matter affecting your reef purchasing? I know that I have cut back on some discretionary things I would normally not hesitate to purchase. I was just wondering if others are feeling the same way about the economy and are adjusting their hobby spending habits accordingly.

Dave

 

[ct_vol]

I haven't backed off much more than I did when I started school back... I'm up to about $350 a week in gas now... Of course I've just passed that onto my clients in the form of a service charge... There are some benefits of owning your own business...

We'll see how I feel about it after our trip to FL... I have a designated amount I plan to spend... And I know gas is going to cut into my "reefing budget"...

 

[digidana]

personally, i think the economy is getting really scary. i know my business is the slowest its been...ever. yeah, its really cutting into reef spending.

btw, we've got a really nice motor home for sale if anybody is looking. of course, we may need to keep it to live in! haha...

 

[EvilMel]

Well...basically the fact that things have gotten more expensive has affected me in this way: I now feel the need to save more than I ever have. I am horribly unsure about the future and very willing to take an attitude of "I just don't need that" and that directly affects my reef purchases. I haven't bought a single coral, not even frags from people and since my initial fish purchases, despite seeing gobies on sale, I haven't bought any more fish.

I have a much worse feeling of dread when I start thinking about retirement, buying a house, and having kids (in reverse order, hah hah)...but just financially, not in any other way.

So...I'm in "saving" mode and the reef tank will just have to stay FOWLR (except for a few frags that Randy gave me).

 

[tangboy]

I'm going to try and just grow out what I have, frag it, store credit for some new stuff and grow some new stuff with fragged colonies...

 

[Kalied20]

The economy worries me a little bit, but my company sucks worse than the economy. They told us two weeks ago that they are moving to Mexico. Never ending jobs leaving the country.

 

[ct_vol]

I lost $100 in my Mutual funds last week... Not too worried about it since I won't be able to take it out of that IRA for another 30 or so years...

 

[tangboy]

I lost $1000 from my retirement plan last quarter... I had just turned it more aggresive back in November... this could be interesting

 

[imsqueak]

I lost $7000 last Q on my 401k! $5000 the Q before. I'm loosing more than I pay in. It fricken stinks! Considering major changes to conservative or moderate but as it stands it's just a loss on paper. If I change, it's a sure loss.

I'm fortunate, 16 yrs w/ same GREAT company, and empty nesters; we don't make many sacrifices. But being from a family of construction/heavy machine operators, we never spent much on material things anyhow.

For now it's a cringe to pay the prices for gas and food (especially steaks) but that's all it is. I feel sorry for the less fortunate, I've been there, done that, it sucks - hamburger helper 5 days a week... never again -knocks on wood!

 

[cee]

Yeah, I lost about 10% in the last year on my 401k too. I don't worry too much about it because historically the market recovers. I think it is just an "adjustment phase" people are going to have to get used to because oil isn't going to get any cheaper and we'll all have to adjust our lifestyles accordingly. Although it is tougher on some than others, we should consider ourselves fortunate since much of the world spends about 80% of their income on food alone and for them it is much more severe.

Dave

 

[tangboy]

Yeah, I'm not too worried about my retirement... since it just started about 4 years ago I'm still in the beginning phases BUT I'm also putting a total of about 12% in (thats after the match that my company makes of about 2.5%). I figure if I can get a big snowball to start with, it'll make a large one before its at the bottom of the hill. Oh ya sorry for the highjack...

 

[KafudaFish]

I have been thinking about this ever since Dave posted this and overall I can't say much has changed. I don't know if this is a good or bad thing. There is always something else that gets purchased before reefing goodies. Perhaps this is why my tanks look as bare as they do. Kids need new shoes? Size 10.5 to 11.5 in a few months = $60 or 3 or 4 frags or a new fish. Buy cheaper? Nope should not skip on good shoes for them.
I bought myself a new pair during the tax free weekend and spent $50 instead of $100+ for a shoe that cost $1 to make. Hey I need a new shirt or 2. Yeah I take that one from the Gap $4 and $5. I refuse to pay more than $15 for a shirt. MY purchases only ever equal 10% of what we spend at a store.
I do think about gas though and driving. We went to Knoxville last night for dinner and decided to go grocery shopping to "offset" gas for the next time we needed something. Yes we could stay in Oak Ridge but when we shop at WalMart we spend the same amount yet never have anything to eat after a few days.
When we went to Disney at Spring Break the biggest decision was which car? Gas was $3.15 - 3.25 at that time (yeah cheap now) and the difference was $80. Eventually the Murano beat the Civic due to comfort basically and the need of a working lower back.
Plane tickets are still dirt cheap maybe $29 each way but then you have to add in all the taxes ie luggage and destination each way. Plus you still have to get from the airport to the hotel so that is car rental or shuttle. If rental car seat anyone?
I can see the airlines start charing a breathing fee soon. Plus there is the whole issue of "security" and being treated poorly. Knoxville airport is always good but I hate MCO in Orlando. So now that 1 hour 15 minute flight turns into a 4 - 5 hour adventure of stress and being a sheeple. Oh I almost forgot. What do you do when the airline breaks your stroller at the beginning of the vacation? File a complaint and get them to pay for a new one? Nope they are no longer responsible for damage to your property. Yeah.
Geez did I write all that?
Long story short, people are still going to go about their daily lives spending more and more and getting less and less.

 

[Angela Short]

I about get sick every time I fill up now I never gave just running to town a second thought for a little whatever but I now try to plan my day to not have to make multiple trips during the week. I know I should do that anyways but when the fill ups start running in the $70 range for my Honda I seriously look at my driving habits!

The increased gas prices also keep me from those fast weekend trips to East TN to let the kids see the granparents which is sad. When we first moved to Middle TN the gas was not such a issue as it is now .

But back on topic my reef purchasing hasn't really changed but I never kept up with spending very well anyways! But my grocery purchases have changed dramatically. Eggs are over $2 a dozen for store brand! I haven't bought a steak in about 8 months till last weekend when Cory bought some to take to talledaga and I about fell over when he came home with $12.99 a pound ribeyes!! Good gosh you can get a ribeye cooked and a potato for not much more at most semi nice resturants! Geez!!!

But to comment on what Dave said about the rest of the world we are very spoiled indeed. To even have the luxury of a store on every corner and money in our pocket to buy food is a blessing. We may not get to buy $12.99 a pound ribeyes but at least we do not go to bed hungery or eat the same bland food every night just to not be hungery.

 

[fishdoc11]

The economy is down?.....I have a reef tank?.....where are my children? I could swear I saw my wife a week ago.

 

[cee]

I actually see a lot of evidence that indicates that hobby spending may be down. A fair number of etailers offering sales that normally don't, hobbyists downsizing, the price of corals dropping so people can move their inventories, etc. Perhaps it is just cyclical, but I suspect the economy has a big influence on the trends I see. That's why I was interested in others' opinions.

Dave

 

[RCS]

Things are not any better in WI right now. I about cried the other day when I put $41 worth of gas in my RSX. My sub-compact car with a 12.9g gas tank and I average 30mpg around town is costing me $40+ to fill up. WTH?

I've bought very little for my aquariums recently.

Thankfully, I'm only down about 3% on my retirement savings right now, but with the 100% match my company does to a certain point, I'd have to take some huge losses to make it a true net loss.