How close to the brink are you? poll discussion

Poll between 03-10 November 2008:

How close to the brink are you?

Recession is coming. On a scale of nought to nine, how near the financial edge are you?

Some of the numbers have descriptions to give guidance to the scale

0 No problem. No matter what. 6% (702 votes)
[SIZE=+2]1[/SIZE] It’d need to be extreme before we felt it. 12% (1432 votes)
[SIZE=+2]2[/SIZE] Mostly fine, even through recession. 17% (2048 votes)
[SIZE=+2]3[/SIZE] A few minor measures should see us through. 14% (1647 votes)
[SIZE=+2]4[/SIZE] Will ride it out, if we tighten our belts. 16% (1934 votes)
[SIZE=+2]5[/SIZE] It’ll be tough, but we should survive. 14% (1735 votes)
[SIZE=+2]6[/SIZE] It’ll be a real struggle, even if we take all precautions. 9% (1084 votes)
[SIZE=+2]7[/SIZE] It’s fifty-fifty if we’ll make it. 5% (597 votes)
[SIZE=+2]8[/SIZE] It’s very likely we’ll go under. 4% (424 votes)
[SIZE=+2]9[/SIZE] My finances are irreparable (looking at repossession/bankruptcy). 3% (379 votes)

Voting has now closed, but you can still click 'post reply' to discuss below. Thanks :)
«1345

Replies

  • IcewytchIcewytch Forumite
    134 Posts
    I voted 9. One more bill in, or any other unexpected expenditure and I go under.
    I also would have said the recession is here, not coming. ;)
    Based mainly on the fact it has been affecting me and others I know for the past couple of months at least.
  • skylightskylight Forumite
    10.7K Posts
    Part of the Furniture 10,000 Posts Combo Breaker Home Insurance Hacker!
    I can't really vote. I am bankrupt so already stuffed finances wise. But because of that I am better placed than most to ride out the rest of the storm, having no debts etc I can now easily manage the rises in living costs etc - things are not going to get any worse for me.
  • MSE_MartinMSE_Martin MoneySaving Expert
    8.3K Posts
    Forumite
    I noticed in the first 50 votes, people only voted on those with descriptions... so I've added descriptions to them all now (early enough that it'll have a negligible impact on the overall vote)
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • Coveredinbees!!!!Coveredinbees!!!! Forumite
    3.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    We will be OK as long as one of us keeps our jobs. We have no debts except the mortgage and plenty in savings. Only trouble is my wife works in the accounts department of a building firm and they are very quiet. I work for a company that depends on local authority spending but they put all their money in Icelandic banks.
    Nothing to see here, move along.
  • I've been optimistic (which I always try to be!) and gone for 5. Normally it'd be 3 cos i try to keep a tight control on everything and always have contingency plans. However my current divorce means that I'm going to get a court order to sell the house in a few months time, and the current market means I'm in negative equity by about £15 - £20k. Normally I'd wait it out but won't have a choice this time. An unfortunately combination of circumstances that I didn't contingency plan for...
    Re-learning the basics in life. Working out the difference between what I really need and what I want. Ignoring the latter and making sure the former is as good as I can possibly get, so I don't have to find it again. :D
  • Hmmm, not sure how to answer: Between 7 and 9. I have one part time job, just left my other one, been waiting for housing benefit since February and am about to be made homeless, and trying to survive on about £35 a week for everything.
  • MSE_MartinMSE_Martin MoneySaving Expert
    8.3K Posts
    Forumite
    Hmmm, not sure how to answer: Between 7 and 9. I have one part time job, just left my other one, been waiting for housing benefit since February and am about to be made homeless, and trying to survive on about £35 a week for everything.


    Hi Flickering Ember, Im really sorry to read that. Have you been to your council's homelessness unit at least to get in touch with them?

    Martin
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • 1 It’d need to be extreme before we felt it. - As long as I wasn't to lose my job and then be out of work for more than a year...
  • MSE_Martin wrote: »
    Hi Flickering Ember, Im really sorry to read that. Have you been to your council's homelessness unit at least to get in touch with them?

    Martin

    No, not yet. They just keep sending me letters and charging £15 for the honour. I have proof that I have been responding (emails in my sent box) but cannot prove the phone calls as I am on PAYG. On the plus side I just got a call today for a job interview at HMV for Xmas work; I plan to get that job and shine at it so I get taken on permanently either at the branch or at another if they've nothing going. Gotta keep on keeping on. No credit cards, just one Natwest overdraft I am just about within. I get free entertainment working at a big arena, and free treats from Mystery shopping. I know things will be ok, but they do take the biscuit around here, council wise. They managed to send me council tax bills poste haste. Thanks for caring though; if it gets worse I will go to the homeless people but I don't want to detract from people who seriously need it. I am in arrears of over £1000 at my old place and £800 here so it's not great.
  • PS I am going to try and get JSA (Contribution based) while I wait to see if I get this HMV job; with any luck I can start immediately if I get it. I'd get more money if I didn't work ironically but that's not me.

    I just realised I cannot be at 9 as I do not own anything to repossess and I do not owe enough to go bankrupt; my O/D is £1300 and I'm just about within it; 12,somthing.
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