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

fimonkey

I had a very lucky escape, I almoset bought a place in Sept 2007, would have been right at the peak! AS it was, it fell through, and i started to read and open my eyes to waht was going on...

As a result, I'm 'winning' so far. I have my savings locked away at 7%, I am watching house prices drop, I had a pay rise of 5% last Spetmebr. My pension is final salary scheme (Teachers), my position is permanant and funded for at least the next 10 years from ringfenced research grant money.

However, I'm NOT taking holidays, spending more etc, if anything I've tightened my belt and am wasting less on food and unessecary clothes, stocking up no BOGOF's etc merely because I DO expect to be affected in the future. I work on worst case scenario

My ideal is a period of deflation, then once I get a mortgage a period of inflation (as debt becomes cheaper then). However aware it could swing any which way so am hedging my bets at the moment and playing it safe. I'm also concerned for my friends/family, though pleased many of them are benefitting from lower mortgage payments, takes the heat off in the short term at least.