'How close to the brink are you?' 2009 poll results/discussion

Miss_Shopsmart

This will be my third recession (counting the dot com bubble burst). Plus I went through tough times single and just starting out my career on a low salary while putting myself through school.

I love luxury and I know lots of tricks for living well without spending money. The recession isn't effecting me yet. But I battening down the hatches now.

I have no debts except a small mortgage and enough savings to last me 4 months of unemployment. It would be easy to kid myself into rating myself as as 1-3 - however I know all too well what can happen - the washing maching breaks etc.

Last year I completely redecorated the house and have a new sofa, lcd screen, blueray disc player etc. and that cost me a lot of money. At the time I was expecting a slower decline. How wrong I was.

I am not buying Gordon Browns uttering trying to restore consumer and business confidence and get people borrowing and spending again. He is now quoted as saying that it will be the cautious that force Britian into a depression.

People I know lost their homes, businesses, had marriage bust ups and suffered really hard times in previous recessions by not preparing and having cash. Pawn shops were everywhere which enabled people just to surrvive. Now I don't know of any?

If there is one person I can trust it is myself. I am not going to joing Gordon on his mission to spend and borrow my way to prosperity. It is simply not sustainable and is just another bubble under a different guise.

borkid

Saucepot wrote: »

Still 0, No problem, no matter what

But I do get an occasional twang of upper class guilt whenever I crack open another bottle of cristal.

It quickly goes, though.

I would never say 'no matter what' life can throw some pretty strange things at us. I voted 1 mainly because of this. I teach a shortage subject in the state sector my OH has a local governemnt pension. We have spare money after the bills are paid, live in a quiet, rural part of the country where the cost of living is relatively low and have kind neighbours. There are luxuries that we coud give up if necessary and we could always spend less. We've lived through recessions before and mortgage rates of 15%, now that was difficult as we had only just got onto the housing ladder.

ThinkingOfLinking

I would say 5-6. I'll make it...just about. It won't be easy and there will be struggles but it isn't all doom and gloom.

buxtonrabbitgreen

I voted 5 last time and the same this time. My oh has been made redundant so mant times in his field that I have lost count. He now does seasonal work. So we are used to 3 months at a time on only my shopworkers wage plaus tax creditis. the thing making it harder for us this time, was some sort of mix up about national insurance, so although he has now been out of work 5 weeks he still hasn't recieved any jobseekers allowance and there doesn't seem to be any jobs either. So we are just trying to ride it out till he is hopefuly back at work in April. The kids are now eating the crusts off the bread so they know it is a struggle too.

Miggie

5-6

DH works for the car industry so his job is dodgy at the moment, however we do have income insurance that should cover our mortgage and bills for a year if he is made redundant. I work for the NHS supporting adults with learning disabilities and I'm pretty sure my job is secure.

We've had a good long talk about the worst case scenario, ie he can't find work within 18 months and now have a sort of plan which is:

the thing that's important is us as a family

we've pledged each other not to blame the other for the financial difficulties - i.e. we can be upset that money is tight, but keep that upset focussed on the situation, not on the other person

We'd try all we can (including having a lodger) to keep the house, but would sell it after one year so that we don't end up having to be repossessed. At the moment we've about 100K in equity so hopefully wouldn't be in negative equity.

If we do end up having to sell and move into rented accommodation it will be sad and a shame but it won't be the end of the world.

DH will go to the doctor if he starts getting depressed. (My Dad had a nervous breakdown after being made redundant at age 50, in the 80's).

DH will retrain/ go back to uni.

Here's hoping it doesn't happen......

Bonbon

oldagetraveller wrote: »

"0" for me, no problem whatsoever. No debts at all, no mortgage etc. Made more than adequate provision for the rainy days while the sun was shining.

Same here ....I paid off the mortgage last year, have no debts, and enough savings to keep me going.

ThinkingOfLinking

Without sounding sycophantic, this site really helped pull me through last year and will no doubt help this year.

OK, so I don't rely on freebies, discount codes, etc etc but they don't half help!!

I love CDs, but cannot really afford them at the moment. Thanks to MSE, I discovered sites like DooYoo, where I can earn them from doing reviews; as I already review for Amazon, I just copy and paste between the 2 sites and make easy money and am then able to earn Amazon vouchers and buy more CDs, which I then review, and so it continues.

I've won some nice little treats and a great experience and I look forward to trying for more this year. The tips overall I've found have made me money and saved me money; I'd estimate at least £1000 and maybe up to £3000 in the last 12 months.

I love this place.

lizzie_dripping

I was undecided between 4 & 5 but went for 4.

OH was made redundant in December but his severance pay will cover all of our expenditure for 2 years, longer if we are careful. He has a 3rd interview with a company today so if he is offered a job that will make things easier.

nearlyrich

0 for me, 100% equity in the house that we could sell and fund a decent life if we needed to,OH has a good pension my job is not that secure but I have savings and a pension plan. I would take a lifestyle drop if I stopped work now but sometimes I wonder if the drop in stress would be a good payoff?

liberty1264

I voted 4, as I am 70 odd year old pentioner on basic state pention as I have nearly allways been self employed, I depend on interest from my savings and dividends from my shares, till now I have had more than sufficient income to give my wife and I a good life two or three hols a year, a holiday mobile home near bournmouth, and enough for a few beers and wine for the wife, I thought life was allways going to be a bed of luxury, but the income has allmost dried up, so we made a budget looked at where we could make some savings, we are cutting out the 2 of the hols abroad, drasticly cutting back on the booze, I wiil clean the windows saving £144 a year g
etting rid of the gardener{sorry self survival} we are thinking of selling the holiday home saving £ 4000 a year in ground rent. rates and insurance and cutting out all waste. Its amazing just how much unneccessary thing you can save on, psysically we already feel much healthier, I recommend you all try It. Off course not every body is in a financial position to do it I truly feel deeply sorry them and hope things work out for them, and god bless you all through these trying times I fear things may get much worse