re: 2009...a lot like 2008, only worse.

MeghanWhitmer — Mon, 12 Jan 2009 23:14:21 GMT

I'm with you on paying down my debt - I'll be debt free (thank goodness!) next month after a very frugal stretch. I do have a question for you - are you going to focus more on saving or on paying down debt? With interest rates hovering around 2% on the most competitive savings account, most of the debt my family holds/held had much, much higher interest rates. Are you more concerned about having the (traditionally recommended) 3-6 months of living expenses in your bank account or eliminating your debt?

And right on with the shopping locally! Even though my dollar doesn't always go as far, I like spending money on products and services in ways that will directly benefit members of my community!

re: 2009...a lot like 2008, only worse.

This Old Housewife — Mon, 12 Jan 2009 13:54:20 GMT

If you take a look at Morningstar and how the domestic markets are doing compared to last year, you'll find the Dow, S&P, and Nasdaq have ALREADY made up much of their 2008 losses--the stock market usually runs about 6-9 months ahead of the economy, and this is an indicator of good investing times to come...starting now.

These markets were as much as 50% down, and are now as little as 10% down (or less). For us frugal bottomfeeders, NOW is the time to get back in! And with just about everything else, NOW is the time to buy.