economy vs. hobby

[JimD 3,345]

hi everyone,

i've been sitting here trying to figure out ways to cut costs to get some supplies to continue the c-85 project. so far i've come up with cutting out food, house payment , and utilities. my wife and i work together and have had our hours cut back to 35 per week. so it's been a double whammy for our household. so, how has the economy affected your horse hobby? how have you gotten "creative" to get parts to make repairs? looking forward to your ideas, because the food thing is already starting to bother me a little, even tough i do need to lose some weight.

fan

[Suburban 550 28]

Jim, this whole country is in bad shape. You're not the only one who has to make tough decisions on how to scrimp and save and keep going at your favorite hobby and past time. As of now I'm refraining from buying anymore tractors and but will be making the June show. I only hope this economy turns around soon or we'll be selling all are tractors to put food on the table. Just my 2 cents.

[HorseFixer 2,012]

I dont think I will be purchasing any horses at the show, and will just try and fix up what I have. Jim years ago, when everyone was out spending and kicking up their heels when times was good, I sacrificed and scrimped and paid off all my debt.

5 years ago when I pulled out every dime I had in the stock market and put it into fixed at a moddest 5% intrest rate I was called a fool and was told I would be sorry for ever doing that! I told the people that told me that it would be the other way around that they would be sorry and all they did was laugh at me

When I see those same people today they look like this!

And I look like this!

The main thing I can tell any young person..... Get the heck out of debt as quickly as possible, when the chit hits the fan you wont be hurt as bad.

[Buzz 502]

Amen Duke! I work for our municipal electric company so my job is secure. I'm old enough and have enough time in to retire but right now I'm going to stay working for awhile. Plus i collect my full social security. The main reason I'm still working is that we have been raising a grand-daughter for the past 10 years with no legal rights and the state finally awarded us full custody of her May 29. She's thirteen now and that's an expense we didn't plan on when planning for retirement. But wouldn't have it any other way......... Probably won't be buying anything at the show but you never can tell.

[JimD 3,345]

suburban, i managed to get the time off for the show this year, but doubt i'll make it, would have been my first one. oh well, maybe next year. gee, that sounded like a browns, indians, cavs fan, lucky me...

duke, ya just had to put that "chit hittin the fan"line in ther, didn't ya? :ychain:

[HorseFixer 2,012]

The main reason I'm still working is that we have been raising a grand-daughter for the past 10 years with no legal rights and the state finally awarded us full custody of her May 29. She's thirteen now and that's an expense we didn't plan on when planning for retirement.

God Bless you Buzz! Yeah my kids are so Stupid they both never listened to a word I said about stuff. Now both of them are raising children with no fathers and I gotta say MJ and I kick in a bunch twords their housholds yeah I know whet ya mean I sure wasn't planning on that either! It seems like every time I have the ends to meet someone moves the ends!

Sorry Jim! I meant the Chit Hitting The Paddles! :thumbs:

[Rideawaysenior 25]

Duke,

I did the exact same thing. We are living mostly debt free except for the house which is a modest $655.34 a month. My advisors also laughed at me when I made the move to a money market. I know political views will vary here but I am a hard core Republican with conservative views and although we were not in the best shape our current covenrment is spending more and more and the burden is falling on our shoulders, my two year old's shoulders and her children and their children.

After WWII when the generation of baby boomers were young, they were buying homes and both Dems and Repubs were on a conservative stream line. Well, as time went on, this brilliant thing. "credit" came more easliy obtainable and spending was starting to go well beyond the means of income until the belt burst right at the buckle. SO many banks wrote so much debt on paper they knew was worthless but like the market took the gamble. Capitalism is a cyclical process. What is happening now is part of it. By dumping gobbs of money into the economic black hole, we are just prolonging the process of the self repair of our economy.

I can go on for hours on this topic and anyone who would entertain a friendly debate is welcome to PM me.

Nuff said there. I my self have gone from buying to selling as well as barter. I'm over the stage of wanting to own all the red I can get my hand on to taking interest in a few specific series as well the rare specimens out there. I do feel the pain with the hobby as it has taken a back seat especially with more recent personal health issues but even with out that, I have in my opinion other priorities that demand prescident.

I too am looking to get to the show this year but it will be for just one day, and to just say hey and shake some hands.

Hope I didn't stir the political stew too much here, it wasn't my intent. Just speaking my mind on what I see, view and fear.

Jack

[HorseFixer 2,012]

Jack it sounds like you hit the nail on the head! What people don't Realize is that someone is making and loosing money every day! The money was not lost in the stock market, someone got rich and someone got poor and lost their azz. The money is allways there somone looses it and someone makes it. Ask these so called specialists and financial advisors if they can gaurantee your investments in the market and they laugh at you Thats when I laugh at them! 5 years later and I'm laughin Real Good funny thing is those Markey Guys aren't Laughin now! :thumbs2:

[CasualObserver 3,406]

Hope I didn't stir the political stew too much here, it wasn't my intent.

[JimD 3,345]

Jason, (lord hellmutt)

your reminder to keep things civil is much appreciated, and a great improvement to this forum in that it goes a long way to keep things from getting out of hand. i thank you for that, and true, the question was not meant to be political. that being said, i would like to respond to jack, (rideaway senior)

jack,

your advice, wisdom, and opinion is always welcome in any thread i post. there is so much truth in what you said, and this is coming from a devout democrat! so nothing has changed, you are still on my buddy list. thanks every one for your responses.

jim

[stevasaurus 22,273]

I'm like Duke...stayed out of debt, payed everything off and decided to retire this last January...I feel like I get to invest at the bottom of the cycle, so things are good. Most of what I have to do with the hobby ends up being labor and now I have the time. I just was chomping at the bit (horse talk) for the last 4 months, because the weather was not cooperating. Now the weather is good, the time is good and so far life is good.

jason...excellent advise...what a great forum!!! :thumbs:

[Coadster32 793]

I seen the market coming down a few years back. Still being in the early stages of our motgage, I thought it wise to put it down on the house. Garenteed 5.5% is better than in the hole. No debt here either exept the house. I thank the good Lord that I can keep a wife at home with our two toddlers.

I also agree it was a good move by Jason to drop his opinion now. No need to get ugly (unless it's too late for you) :thumbs2:

[CasualObserver 3,406]

No need to get ugly (unless it's too late for you)

Ha... yep too late.

In my little part of the world there has been hiring and pay freezes, just like about everywhere I suppose. My tractor budget has received a freeze as well too... however I did just splurge and buy and RJ two weeks ago. They don't come up too often and sometimes you just have to make exceptions. Besides... that really came out of the "rainy day" fund... not the tractor fund if you know what I mean. For the most part though... any restoration work will have to wait. General maintenance of course cannot.

[HorseFixer 2,012]

For the most part my tractor refurbishing, and stable refurbishing comes out of my Bi-Weekly paycheck. Bi-Weekly I pay myself first, aka (SAVINGS) and actually I save more bi-weekly than my take home pay! Then bills get paid first, then whatever is leftover is my Wheel Horse money. Yes when things like fuel goes up that cuts into my tractor $$ funds. I have the urgency to get the 701 done and then my C-120 for snow removal. After that I'm gonna curb back and do just (1) resto a year. There is not many tractors that I want and need. Being retirement is just 5 years off, I still am in the savings mode and I never touch my savings no matter what! Have I felt the crunch of the economy? Yes I cant blow as much as I used to. I have to watch my expenditures!

[Kelly 1,028]

To fund my tractor hobby I buy what I can cheap and sell it off on ebay and at home, this winter has done me good now I almost have a busniess here at home, selling tractor parts, mostly off brand, I have people stoping off the street looking for stuff to repair their tractors instead of buying new, I sell lots of MTD and AYP stuff. I've started selling my WH stuff things I really don't need, and will never in two life times restore.

[can whlvr 991]

Things have really slowed down here in ontario,im a contractor and am not working as much and had to drop my prices,so of course hobby comes last,i wish i had more spare play money right now because its a good time to buy toys,cars,property etc.I still am loking though,as i have seen more wheelhorses for sale latly than in my whole life in this area,guess people need the money.

[Coadster32 793]

After that I'm gonna curb back and do just (1) resto a year

Hey Duke, what would you do with the other 364 days of the year?? :thumbs2:

[JimD 3,345]

Hey Duke, what would you do with the other 364 days of the year??

yea, if duke doesn't slow down a little, mj's gonna have to put a collar on him so when he sees a hot lookin horse, all he can do is run to the end of his chain........and BARK! :ROTF: