'Close this site for the recession?' blog discussion

sarahs999

Stimulating the economy the way the government wants us to do will just get more people into hot water in 2010, or whenever all the budget 'helpers' that have just been announced are rescinded and we are stuck with huge tax/vat increases.

We all need to learn a better, more frugal and honest way to live, and that includes everyone from Flash Harry at the top to humble homemakers at the bottom. Spending constantly money we haven't got is partly what got us here. Your site helps change that mindset.

bramblejam

I've been thinking of you all day, then I come here tonight and see this post LOL! When we heard about the interest rate cuts to try and make us spend we said "oh no we won't, we'll pay more off our debts".

It makes me feel a bit sick the way they are blatently trying to pull our strings. Really, for the good of the country we want to start using houses as homes and not as investment tools, house prices need to come down to round the European average. I spent the last recession in Holland and .... they didn't notice there'd been one. Well, there wasn't one there. I learnt a heck of a lot about money over there.

Gemmzie

I think it really illustrates the lack of wider understanding, you don't have to be a complete Scrooge and not spend a penny while we're in a recession if you're not in debt.
Quite the opposite in some circumstances, especially electrical goods, cars etc! If you can afford one, then get out there and take advantage of the best deals possible.
And for those in debt, getting out means that they'll have more money to spend in later years which is "real" money.

For me, consumer revenge/being savvy/whatever you want to call it isn't about never spending, it's about getting the most for your money.

JohnAnt

Martin: brilliant blog. I've been wondering if the government are in cloud-cuckoo land. The only folk who'll obey their edict to get out and spend more at all costs will be those who are already deep in debt they can't service.
Savings rates will be so low that we'll be turning to corporate bonds pretty soon. That might be worth an article - it's a subject few experts can make comprehensible.
I just wanted to say thank you for your advice so far. I've gained so much from your site: I've saved £350 a year on council tax (appeal against banding) and found some excellent fixed-rate savings deals.
Long may you blog!

camaj

MattGaskin wrote: »

Keep the site open but employ an editor to help with those troublesome apostrophes! ;-)
I'd be happy to take on that role...

“We live in an adversarial consumer society. A company's job is to screw us for cash, our job is to stop them. ”

Martin wrote that when he started the site, I assume he's got someone in by now

therivierakid

Martin, how about you take the Chancellor's job - just until May 2010? You're bound to do a better job than the over-eyebrowed loon currently in the role.

butterflymum

"Companies spend billions on advertising, marketing and teaching their staff to sell"...most folks know what they need/want anyways, with or without advertising and if anything, too much advertising leads to too many choices and makes for indecision and delay in actually purchasing. Maybe the billions would be better spent just selling products at more sensible (ie lower) prices in the first place.

On site closing (and I do appreciate the comment was tongue in cheek) - no, it's the best thing since sliced bread!

SandraScarlett

Pleeeeeeeeeeeeeease don't even think about closing this site! Although I've always tried to be prudent, the advice that you give has enabled me to be generous to others as well, whilst making my pension stretch beautifully.

Umpteen friends and I have enjoyed the various 2 for 1 restaurant offers, not to mention all the other valuable information that you research and make freely available.

I can't see myself rushing to spend £15,000 on a new car, knowing the VAT reduction will save me £375, but I can see myself buying a few editions of News of the World, when I'm informed, via this site, that there will be a £5 off coupon, when you spend £30 at Tesco's!

Yes, I know the government would now like us to dash about here and there spending our money, but the cold weather makes me think of the forthcoming heating bills, and I'd rather wait and see what they're like next month.

I cannot praise this site enough, and have recommended it to so many people, and I bet if there was a national vote, and the question asked was "Who would you like to see as Chancellor?" - you'd walk it!!

musicals

Some of those who have responded obviously have not read Martin's blog. He's not closing the site, or even considering it (as if!). He's simply stating how his prudent financial advice is starting to run counter to that put forward by the government, i.e. help yourself or help the country. Save or spend, put simply.

newlywed

Ok, panic attack over. I've read the blog now.

What about those that simply can't spend? Those whose debts are huge, credit cards up to the limit, refused loans etc not enough money to pay even minimum payments on the debts? Someone has to be about to help those people surely?

(that was me not so long ago - and probably still would be if it wasn't for this website )