how is the credit crunch affecting you

Kez100

Cleaver wrote: »

People pay other people / companies £80 to do their wedding seating plan? At the risk of sounding like my Dad, the world has gone mad.

These services will be the ones to go. Absolutely no need for weddings to cost what they do. I reckon I could cut the average wedding by a third and without changing the enjoyment of the day.

Economically priced cards? No idea if that will work in a recession or not. Be interested to see.

I don't ever send cards if I give a present and I don't send christmas cards (except to a few friends from years ago and its the only way we keep in touch) - so I'm no expert at all.

Kez100

BlondeHeadOn wrote: »

In practice, the credit crunch has had positive rather than negative effects on me - as others have mentioned, cheaper mortgage, cheaper fuel, able to haggle prices down...

But the effect on my mental state has been much more profound. I feel deeply unsettled by the reported global financial instability, and very nervous about what is going to happen over the next year. I run my own business and had a very good year last year - but I am very pessimistic about 2009, and therefore I am squirreling away my profits from 2008 rather than spending any of them. This of course will not help the economy at all! But at the moment I have a real psychological need of a financial 'cushion' to help me ride out the bad times.

I think the main problem is that I don't believe that anyone in charge really knows what they are doing, and are just trying random measures in a blind panic to see whether one of them will help the economy. And if they choose the wrong random measures and f**k it up some more, then we won't know until it's too late and the economy plunges even further.

So: personally I am experiencing a huge gap between the actual effects and the emotional effects of the credit crunch so far. Which sounds a bit daft, really!

Perfect post. Exactly how I feel!

steadysaver

Finance and job wise, everything is ok for me. Petrol is cheaper and other prices have been dropping in the shops.

I do worry about the Government tho (like BlondeHeadOn), I think they are in panic mode. I hope the printing presses don't get fired up, I would hate to see the money I am saving for a) House deposit, b) the future, be inflated away into worthlessness. Having said that, I think the poo will really hit the fan if that was to happen and the economy.... well what economy.

gingin_2

We are waiting for husband to lose his job, but then we have been expecting it for the last year and so are grateful he has got this far, this is major factor that the credit crunch will have on us.

Our only real indulgence is one good holiday a year which we have decided not to have in 2009 but my parents have offered to take the children away so it has all worked out well.

We have been trying to move most of our money out of the £ which has been really interesting and so far paid off. We are also keeping our eyes open to purchase a (very) small business locally, at a very good price if one takes our interest. It's definitely not something we are rushing into doing.

I feel really upbeat about things. The inevitable is hitting the fan but we have been preparing for this for years, personally, and I am relieved that there might be an end to the last decade of over-consumerism. I just want to get it over and done with, move into my little house and carry on as normal.

chewmylegoff

well....

i'm renting a house; i may well have bought in june time if prices weren't falling. this means my disposable income is higher as i would have been making large mortgage overpayments otherwise.

i'm going to be getting a worse exchange rate when on holiday in europe. i'm also worrying about the future value of the money i have in the bank.
i'm getting a big discount on a new car that i would have had to pay full list price on a year ago.

i'm having to work harder and later, because there's more to do at work.

chucky

Cleaver wrote: »

From a completely selfish point of view the only way we've been effected is a much cheaper mortgage and cheaper petrol. So far.

I would obviously swap both for overall economic stability however.

same here, everything positive for now - not worried about savings as they are all offset against my mortgage which was nearly 100% anyway, mortgage is being reduced rapidly with capital repayments now.

jstallan

Just paid the last Xmas bill and am now franticly working out how we can afford to move. Our currently proprty has loads of equity in it (so I'm lucky in one respect) and therefore could consider to drop the price (not that it's even been valued yet). Current plan is to sell up, rent for 6 months, then buy - however, I fear I will have a massive task convincing my wife to follow that approach although she does see the benefit in selling now to trade up.

Pobby

Business has dropped off however my wife has a very safe job but is not paid well. As long as I can bring in £200 a week we are fine and it certainly hasn`t got that bad yet.

Mortgage paid off so that`s good. Savings making very little. Pensions and investments well down but it`s quite possible that they will return given the span of time before they are required.

Did a financial spring clean some while ago saving about £300 per month.

Just feeling very worried about how deep all of this is going. Also I feel very concerned that we seem to be controlled by loonies who didn`t see this coming. I did and so did a lot of people.

purch

how is the credit crunch affecting you

The what ????

ess0two

Not much change really,petrol cheaper,did have £600 credit on gas/elec account has been swallowed up in last 3mths.