Dreading this year

1sue23

mvengemvenge wrote: »

I used to go 30-40 years ago (Cradley Heath). Happy days.

I lived in Cradley Heath 30 years ago very fond memories about the time of the closure of the Steelworks I survived that and will survive this recession .

1sue23

I 'm also a born worrier always have been, and always will be ,but I have survived the recessions of the past 30 plus years ,and the sleepless nights I had in the 80's, I had 2 houses was bridging while trying to sell the first property mortgage total £210,000 on an income of £20,000 it was a nightmare I worked around the clock early morning cleaning ,into an office worked all day and then stayed behind to do the cleaning there ,after which I stayed on and did the office printing not finishing until after 10 never again ,but am now mortgage free and living on a boat .

whathavewedone

I'm a born worrier too and in quite a similar situation.

We only have 18 months' mortgage payments saved up though so you're better off than us and our fixed rate mortgage ends in October 2011 so we're more exposed to potential interest rate hikes than you are.

I wouldn't say I'm losing sleep over it but I do spend hours trying to work out if we'll end up with a long slow recession like Japan with low interest rates or a really vicious shorter recession with high interest rates. I don't know the answer. Like the majority of people, my knowledge of economcs could fit on the back of a fag packet.

I would be better off forgetting about it really because it's out of my control.

I am thinking of going back to work part time this year though - although like you I have childcare to consider and if I can't earn enough to at least cover that then I will have to forget about it. Like you my oh earns too much for us to be entitled to any tax credits/help with childcare.

Before I found my way to these boards I spent about a month reading threads on HPC - I don't recommend you go there if you have a worrying nature.

You have probably noticed that the real doom mongers automatically discount any predictions that isn't of the 50% off houses at least/total economic meltdown variety on the basis that the people giving more positive predictions have vested interests. The thing is that the doom mongers usually have vested interests of their own - namely to snap up a 4 bedroomed detached period house for 200k in London and the south east or for £100k or less in other areas of the country.

Well who knows? Maybe they'll be able to. And maybe they won't. Why should we trust the people who have vested interests in the economy worsening significantly any more than we should trust the people who have veste interests in the economy picking up?

Lots of people on here would love people like you and me to panic into selling our house now just to avoid negative equity.

What will be will be. In the meantime save save save.

bootman

I'm a real worrier too. My husband despairs!

I am worried because he has recently changed jobs, he got offered the new job before everything seemed to be going wrong in the world and started in October. I am worried last in first out. He had been with his previous employer for 5 years and loved the job.

Change of job was only really down to distance, we live South and the office was North 180 miles away.

We had planned to pay off the mortgage in December 08, but decided to hang onto the money in a savings account just in case the worst happened in the new year.

carolt

I understand the worry on a societal level - what if recession turns into Depression? What if that causes huge social unrest/worse? But as I can't do anything about that, I try not to worry about that.

On a personal level, rather than worry, which achieves nothing, use the emotional energy to plan - for all worst-case scenarios. Chances are you won't need them, but at least it will help you sleep easier at night. I do stockpile food, for example - not because I'm convinced there will be imminent scial breakdown, but because just in case there is, or huge inflation, or whatever, I'd rather be prepared. Particularly as, like you, I have responsibility for children.

But beyond that, try to stay informed - that's what this board is for after all - and enjoy every wonderful minute.

[Deleted User]

I don`t worry as what will be will be. We have done all we can to feel secure in our nest. We paid off the mortgage, have savings and now live off my small pension plus savings and that is the way it will be until 2012. Life is too short as it is but I must admit that I want 2009 to be out of the way, hopefully taking broooooon with it

Ahh, just to say I am one of those silly people who have built up a large stockcupboard of everything needed to survive anything. So I can pull up the drawbridge and be ok.

Now back to the op, there is something there in the background that has turned her into a worrier, even though in reality she has nothing to worry about. Get it all down on paper op, pros and cons. My background formed me and hence we will survive this because I learnt all the lessons since 1948

StevieJ

whathavewedone wrote: »

I'm a born worrier too and in quite a similar situation.

We only have 18 months' mortgage payments saved up though so you're better off than us and our fixed rate mortgage ends in October 2011 so we're more exposed to potential interest rate hikes than you are.

I wouldn't say I'm losing sleep over it but I do spend hours trying to work out if we'll end up with a long slow recession like Japan with low interest rates or a really vicious shorter recession with high interest rates. I don't know the answer. Like the majority of people, my knowledge of economcs could fit on the back of a fag packet.

I would be better off forgetting about it really because it's out of my control.

I am thinking of going back to work part time this year though - although like you I have childcare to consider and if I can't earn enough to at least cover that then I will have to forget about it. Like you my oh earns too much for us to be entitled to any tax credits/help with childcare.

Before I found my way to these boards I spent about a month reading threads on HPC - I don't recommend you go there if you have a worrying nature.

You have probably noticed that the real doom mongers automatically discount any predictions that isn't of the 50% off houses at least/total economic meltdown variety on the basis that the people giving more positive predictions have vested interests. The thing is that the doom mongers usually have vested interests of their own - namely to snap up a 4 bedroomed detached period house for 200k in London and the south east or for £100k or less in other areas of the country.

Well who knows? Maybe they'll be able to. And maybe they won't. Why should we trust the people who have vested interests in the economy worsening significantly any more than we should trust the people who have veste interests in the economy picking up?

Lots of people on here would love people like you and me to panic into selling our house now just to avoid negative equity.

What will be will be. In the meantime save save save.

Lots of people on here would love people like you and me to panic into selling our house now just to avoid negative equity.

Totally weird that they seem to take offence when sellers will not cut their prices by 30% + :eek: like it is some sort of crime

lil'H

I am about to buy a house.
I will have no savings left after buying it.
I have a averagely paid job (18.5k) and the contract ends at end of August.
I am a single parent, with a 6 year old son.
I have a car about to fall apart, and it is a requirement of work that I have one, so that's a huge expense coming up.


Am I worried, no! If you worry you'll only miss opportunities that come your way. Your hubby will be able to get some paid employment if needsbe, even if it's a few shifts in a pub. You'd be able to get a few hours work too, what about weekends so that hubby can provide the childcare. You have 3 YEARS MORTGAGE saved up. You could pay a huge chunk off now, and save yourself a fortune in interest, which could help lower your monthly payments.

Keep panicing and you are going to end up having a breakdown, you won't be able to earn, your hubby will be looking after you so he won't be earning, and you'll miss the whole next year of your child's life in a daze. Kind of not worth it really? Worse comes to the worse your savings pay for mortgage, tax credits and child benefit added to a few shifts at a pub etc for each of you and bobs your uncle there is no problem.

Generali

StevieJ wrote: »

Lots of people on here would love people like you and me to panic into selling our house now just to avoid negative equity.

Totally weird that they seem to take offence when sellers will not cut their prices by 30% + :eek: like it is some sort of crime

I wonder how much longer the current stand off can continue. Presumably the longer volumes remain low, the more pressure is put onto the finances of marginal sellers pushing more people into being highly motivated or even forced sellers.

Conrad

Yep, I'm also a born worrier. About 2 years money put by, and more tied up in some property but little chance of selling in this climate. Could have no mortgage if sold up but dont want to move to a smaller home particularly, although one part of me thinks life would be better all round.