How close to the brink are you? poll discussion 3 November 2008 at 6:36PM in Money Saving Polls 48 replies 7K views

Former_MSE_Lawrence

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

Icewytch

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.

skylight

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_Martin

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)

Coveredinbees!!!!

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.

SoniaM_2

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...

ThinkingOfLinking

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_Martin

Flickering_Ember wrote: »

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

going2die_rich

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...

ThinkingOfLinking

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.

ThinkingOfLinking

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.