How has the rescession affect you in the short term?

leachyd

Hello All,

I've been wondering for a while how everyone is coping with the current economic conditions. I know recession tends to scare everyone but some people must be better off. It's a pretty basic list of options but I'm just intrigued.

kaisersoze_2

What about a simple no change, havent really noticed anything. Dont have a mortgage (rent) and my bills havent really changed (that ive noticed) either way, my pay is the same but any increase in inflation is taken up by a higher tax code.

leachyd

kaisersoze wrote: »

What about a simple no change, havent really noticed anything. Dont have a mortgage (rent) and my bills havent really changed (that ive noticed) either way, my pay is the same but any increase in inflation is taken up by a higher tax code.

Good point, school boy error! Don't think i can edit the poll so will just have to leave it as is.

OrkneyStar

Mortgage has gone down, household bills have not really changed, except food.
TBH our income has decreased (as I was earning, then was on SMP, now a SAHM with no income as such!) and outgoings increased in some ways due to having DS, but none of this is directly related to the 'recession/credit crunch'.

G_M

Income much the same (up a bit); central heating oil half what it was last summer; food, clothes etc a bit cheaper; some good looking holiday offers around; savings interest down but not by as much as costs generally.

Looks good to me!

Extant

No difference at all.

ShelfStacker_3

I've not really noticed anything either. I mean, the VAT cut or whatever has given me an extra couple of quid (seriously, about £2) extra each month, but nothing else.

londonuk2008

With me and other half , luckily has not affected us.

babydaisy

I've been made redundant (sept 2008) but actually because we are on a base rate tracker mortgage we haven't noticed a huge difference. Our child tax credits have gone up because of my drop in income and I have noticed that food etc seems cheaper so for us - not a problem so far because of the lucky mortgage choice.

newfoundglory

I have lost several thousand pounds of income on cash savings with respect to reduced interest rates. Lost a few thousand pounds on shares (mainly banking). Seen the cost of basic items increase.

I haven't gained from mortgage rates, as I rent. I think there might be more offers on in shop and supermarkets though... more half-price, buy 1 get 1 or 3 for 2's and just more general money-off offers.

Houses are now much more affordable for the young, and I am looking to buy within the next 6 to 10 months.

As a civil servant, I consider my job to be safe.

I would say overall I have lost, rather than gained (mainly interest-rate drops and banking stocks). I had some Halifax 6-month fixed-rate bonds mature only a month or so ago... paying 7% ... you'll be lucky to get more than 3% now