Did the economic recession of the 1980s affect you at all?

Question

At one time, they were talking about pink slips and downsizing where I use to work. Were your savings in jeopardy? Mine was not because I didn't have much of a savings at that time. Pay check to pay check living.

Yes but lingered for U.S. and Canada

Answer 1

We were newly married in the 80's and didn't have much in savings either. I was working at one place when they moved to another state and I lost my job. We worked at whatever we could to make a living, so I moved on to something else. We have actually been affected more now from businesses moving or closing and the consequences of this happening.

Answer 2

Yes it did. But for the better. My husband travelled a great deal and before he left he would give me sufficient funds for running the household. We saved my salary. Well I believe is was October 1985 (but don't quote me) when the market went "clunk" - I took a chunk of the money my hubby had given me (along with some I had squirrelled away) and bought a very popular stock at $32.00 ! We ate a lot of burger that month and other cheaper cuts of meat - - - but in 1995 I sold this for $61.50 per share! We had steak that night.

Answer 3

In the 80's we were military, it was some security. We lived on base so housing and bills pertaining to the house electic, water, etc were paid for so with that we were secure. There was a military medical facility too so that helped. We also lived paycheck to pay check but we knew we had a place to live, no danger of losing the house.

Answer 4

What happened to me in the 80's was the incoming Prez, Reagan....he did away with many facets of the student loan program which directly affected my eldest daughter who entered college in 1980...I caught hell trying to pay her tuition, room and board....and then two years later in '82 I had another one in college and a teen son at home...and was the sole breadwinner living in one of the most expensive areas in the country.

My living costs went way up - though my salary stayed somewhat the same until the late 80's...

Savings? what's that?

Answer 5

It must not have. I was married until 1985. He took care of the bills, so I was in la la land. After that I was on my own, making minimum wages, living in an upstairs apartment with no air conditioning for the summer, in a funky part of town. So it was like a recession or depression to me. Whatever!

Answer 6

I was pretty lucky. I worked in a Nevada poker room. Nothing stops poker players from playing. Our room was always busy.

Just a note about poker players. They didn't even get up to see the TV when the WTC was destroyed on 9/11. That's when I lost all respect for them.

Answer 7

Not really, I was a single parent of 2 back then and have always been able to make copper wire out of a penny if I stretch it far enough. I know all the cheapest places to get what I need and I mean need not want. Live very cheaply and its about wanting what you got already , not having what you want.

Answer 8

I got married in the 80's and remember having a very tough go of it for a long time. Now it seems to have bounced back and a lot of people are having difficult times.

Answer 9

oh yes, we both ended up unemployed, lost everything we had invested in our house, were forced to move as far north as you can get and still be in Canada (AB) to work, that was awful. -65C int the winter, no medical facilities to speak of, nasty hard drinking crazy red necks, very uncivilized - and isolated, and I had two "babies". Aged 2 and 4 at the time. Lived there for almost four years. I hated it.

We were basically wiped out.

Answer 10

I was in partner ship with 2 other people..we owned a craft store..fortunately did not depend on it for living expenses..would have starved to death and been homeless..We closed it as people needed to pay bills and eat before they could play ..