i feel so selfish but this credit crunch is helping me a lot

patchy987

hi guys

please dont slate me for my opinion

the credit crunch has so far only been positive for me. our mortgage has dropped by over £200 a month, petrol is 40p a litre cheaper than 6 months ago. food seems to be getting cheaper. sales are everywhere while retailers try to tempt people in.

ok on the other hand we have lost a lot on our house price but as we dont plan to move its not a big issue right now.

is anyone else finding theirselves better off at the moment , crazy as it may sound

robin_banks

Depends if you think your P45 is in the post or not.

housesitter

Mortgage dropped. Over paying or spending it to make Gordon happy?

agent_orange_2

patchy987 wrote: »

hi guys

please dont slate me for my opinion

the credit crunch has so far only been positive for me. our mortgage has dropped by over £200 a month, petrol is 40p a litre cheaper than 6 months ago. food seems to be getting cheaper. sales are everywhere while retailers try to tempt people in.

ok on the other hand we have lost a lot on our house price but as we dont plan to move its not a big issue right now.

is anyone else finding theirselves better off at the moment , crazy as it may sound

There is probably quite a few people in your situation, not many of them visit these particular parts. A lot of posters here seem to get a strange satisfaction the worse things get.

Masomnia

It's helping me too, to be honest.

My student loan is down to 2.5%, I'm getting 6.3% on instant access savings (opened one of those Egg accounts in October) whilst prices are falling, I'm making a little on the side day trading on more than usually volatile shares, sales are helping me too, and being a student I'm not currently worrying about my job.

Having said that, I'm really starting to worry about when I graduate in July 2010. I'm at a red brick uni, so that could be worse, but I am doing a degree which infamously leads nowhere in particular, History. And no, being a history teacher isn't really an option as the competition is very very strong for that - believe it or not! So my position may not be too enviable.

sb44

patchy987 wrote: »

Food seems to be getting cheaper.

Some food is cheaper but a lot is increasing in price and not by the odd penny.

For example, I went to buy some bread flour from Lidl yesterday which was 48p on the 7th Dec (sad I know but I keep my receipts to help me remember which supermarket was the cheapest so I can get a particular item there next time), yesterday it was 75p!!!!!!

That is one hell of an increase in a week.

It isn't just the one item that is increasing in price by a huge amount, quite a few are and they all add up.

Francesanne

patchy987 wrote: »

hi guys

please dont slate me for my opinion

the credit crunch has so far only been positive for me. our mortgage has dropped by over £200 a month, petrol is 40p a litre cheaper than 6 months ago. food seems to be getting cheaper. sales are everywhere while retailers try to tempt people in.

ok on the other hand we have lost a lot on our house price but as we dont plan to move its not a big issue right now.

is anyone else finding theirselves better off at the moment , crazy as it may sound

Glad your mortgage payment has dropped for you but not so happy that my savings intrest which we rely on has been greatly reduced through no fault of our own. Seems that the savers are paying the penalty for the many people who took on huge mortgages they really couldn't afford. Our mortgage hit the 16pc mark back in the 1980's and don't recall a huge bailout then.

longtimelurker_2

Masomnia wrote: »

It's helping me too, to be honest.

My student loan is down to 2.5%, I'm getting 6.3% on instant access savings (opened one of those Egg accounts in October) whilst prices are falling, I'm making a little on the side day trading on more than usually volatile shares, sales are helping me too, and being a student I'm not currently worrying about my job.

Having said that, I'm really starting to worry about when I graduate in July 2010. I'm at a red brick uni, so that could be worse, but I am doing a degree which infamously leads nowhere in particular, History. And no, being a history teacher isn't really an option as the competition is very very strong for that - believe it or not! So my position may not be too enviable.

Get the work experience in - great for the experience itself, but also for contacts and getting a foot in the door of various industries. I'd go so far as to say it's absolutely essential to have work experience.

Teaching's not fun and if you're not careful you add on more fees and loans to the student loan.

Francesanne

sb44 wrote: »

Some food is cheaper but a lot is increasing in price and not by the odd penny.

For example, I went to buy some bread flour from Lidl yesterday which was 48p on the 7th Dec (sad I know but I keep my receipts to help me remember which supermarket was the cheapest so I can get a particular item there next time), yesterday it was 75p!!!!!!

That is one hell of an increase in a week.

It isn't just the one item that is increasing in price by a huge amount, quite a few are and they all add up.

but you can get bags of red onions for 29p this week in Lidl's and English leeks for £1.20 (large pkt). Seems to be swings and roundabouts but I'm greatful for any savings.

sb44

Francesanne wrote: »

but you can get bags of red onions for 29p this week in Lidl's and English leeks for £1.20 (large pkt). Seems to be swings and roundabouts but I'm greatful for any savings.

Yep, I think it's going to be a case of grab it while you can with anything on special offer that you can store away.

toby_puppy

Fortunately have not been affected either way really (touch wood), we are on a fixed rate mortgage for another 4 years.

I work in an accountants and it really is heart wrenching to speak to clients whose businesses are really struggling to survive. We've had people in the office in tears, especially before Christmas - builders unable to find any work and worried about being able to afford presents for the children. A few were contractors with MFI who are unlikely to get paid for their work.

I really hope situations will improve over the next few months - I also have great sympathy for people who are reliant on income from savings since the interest rates have fallen. Very worrying times.