24 October 2008

Living Beyond Our Means

Alot of people have been greatly affected by our volatile stock market and failing economy. I am one of those people. I had put a good amount of the money I made over the years into the stock market. At first I thought it was a smart idea, I was able to save enough to make a very large down payment for a home, pay off a huge portion of my student loans, and was also able to purchase my own car. It afforded me a lifestyle I never imagined possible for myself. But the stock market is almost like a finer form of gambling and just like with any other game, sometimes you lose. Well I lost. Alot. I figured now was a good time to make some money saving changes.

Marcus and I have been going back and forth between Houston and Dallas for over three years now. Marcus loves Houston and I love Dallas so we could never really choose just one to call home. We'd spend a couple of months at our place in Dallas then spend a few weeks in Houston. The drive is almost 5 hours long and its a boring 5 hours. Not to mention the cost of traveling all the time, on top of the money spent keeping two places: utility bills, cable, internet, HOA fees, mortgage payments, property taxes etc. Coupled with the fact that my phone isn't ringing as often as it used to... Its just a little more than this fading porn model and his Asian boyfriend can afford at this time.

So we sold our place in Dallas. It was more expensive to keep and after what happened there we just didn't feel like keeping it. Houston is now where I actually live. Not just for a few months but all year round. My presence in Dallas will now be limited to a single two day trip each month to visit family and friends. How much does that save me? Enough to keep up with my responsibilities.

How has the economy affected you?

13 comments:

  1. I sent you "my story" to your live.com address. I hope you got it. I'm happy to hear you're moving.

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  2. This economy got me fired from my job. So now i can't afford gas to get to school about a 30-45min drive away. so i'm missing a bunch of my classes and failing a bunch of tests, missing homework, and missing a bunch of quizzes. Now i'm failing 2/3 of my classes (one the homework is online so that gives me a break) but there's just no way possible i can get through my first semester of college like this. So i'm thinking of dropping out...i don't know what else i can do.

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  3. I've always wondered what you did for a living and how you paid your day to day bills and living expenses. You owned the place you just sold? How did you afford that at such a young age?

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  4. I know what you mean Mason. My boyfriend and I live in Indianapolis but with the market in the shape that its in we are moving to Kentucky were property and taxes are cheaper. I guess we all have to make changes.

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  5. Yeah, the economy bites, no doubt. I work in marketing. Clients' sales are going down, which means our revenue is going down as well. Boo.

    I hope you'll enjoy Houston. I'm from there originally, and while I prefer Dallas (I live here now), I have always considered Houston to be one of the friendliest, most diverse towns in the US. Not to mention, one of the most budget friendly. :) If you haven't yet, make sure to try Ruggles for dinner on "date night." It's on Westheimer, built into a quaint little house. It's an oldie but goodie in H town. (Told you I'm in marketing. See how I'm selling?!)

    R

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  6. This recession has really had disasterous effects on millions of people, not only because of "bad loans." People are losing jobs and houses in historic numbers.

    I lost my job for the second time in a year. If I don't find another one quickly, I'll lose my house. In most areas, people can't get mortgages, so no one is buying houses. Welcome to America of 2008!

    Getting away from Dallas after what happened is good for you. I'm also glad that you sold your place in these times. As far as equities go, ride this out. In about a year's time, securities will rise again. In the meantime, your losses are paper losses, unless you liquidate your assets.

    Best wishes!

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  7. Hi... It´s a pity what´s happening there. I´m writing from Peru, where, most of you may know, our economic situation has never been optimus as all of us would like it to be. However, things haven´t been as tragic as things have become in the USA. Actually, the American dream was a path to follow for many people here and so, there they are... The most we´ve been affected by the American crisis has been our stock investments which started going down even before the mess could come around. Hopefully, I lost about 20 bucks before I took them out and turned them into a bank account, but not most people did it, and now they have lost some money...

    I the world situation could overcome these days, I´m positive about it... Will Obama be able to manage?

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  8. Besides my company being bought and putting me out of a job for 4 months, it forced me to go on my first vacation away in 10 years, but I loved every minute of it and have friends envious of my trip to the Nevada desert. I have a job now but am spending a lot less money

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  9. Mason from one Texan to another .. you really should fall in love with Austin ..it is the best place in texas by far and top four in the country .. i really recommend leaving behind the dallas and houston shit boxes and finding the real jewel of the Capital City ..

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  10. Mason,

    Well welcome to now stay in Houston, don't blame you for liking Dallas so much, such a clean city. I live in the suburbs outside of Houston, but love going to Houston to enjoy the nightlife. Hope the transition of moving over to Houston is a smooth one.

    Take care and again welcome to stay in the "H"

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  11. well, welcome to Houston,Full Time! I'll look for you out here!

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  12. Hey Mason,

    Glad to hear you're keeping yourself together and have found a reasonable way to help cut costs. I work in the adult industry myself and things are hard for us too. Layoffs, cutbacks, limited advertising, no more event sponsorships, etc. So, just because the economy's tight right now, don't think of yourself as fading. You're a terrific model and from what I hear pretty easy to work with. You've overcome a lot lately and you're obviously strong enough to stay working. Keep your chin up; have faith, good things will come.

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  13. This is a George W. Bush economy. He has accomplished his goal.

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