Coping when times get tough

lemonjelly

SingleSue wrote: »

As someone who has never relied on credit, I can tell you it is getting tougher each month that goes by to buy the things that only a few months ago, were normal items.

Mind you, I had to go through the change of a good salary to a crap income before the recession (our joint income was in excess of 60k a year), so a lot of my adjustment was done already but I am still finding it ever tougher.

Sue I think there will be many who are learning difficult lessons.
It confused me for years, as it appeared that the amount of unsecured lending going on was unsustainable. I thought it would come to a head sooner than it actually did. However, in the events of the past 12 months, the so-called "credit crunch" reduced the amount of junk mail & unsolicited phone calls.

Prior to this though, credit was (too) easily accessible, many dined out on it, partied because of it, re-decorated every 6 months because of it, holidayed on it & essentially treated it as a third income.

If that tapp truly has been turned off, then surely it is only a matter of time before the "robbing peter to pay paul" syndrome becomes unmanageable.

In my experience, lots of debt was built up by clients who were borrowing to pay off other debts.

The fact that this report shows that 1 in 3 has no other sources of income etc when times get tough, to me, highlights that they've been living off borrowing in recent years. Now, they'll really struggle.

It is also a worry that it appears many are struggling to access the means to remedy their problems. With no apparent solutions that will make it very tough for some, & could potentially compound their situation.

lemonjelly

StevieJ wrote: »

You could always do the hairshirt pennance thing The again you may have a point if a Tory govt is elected:eek:

Thomas (a) Beckett I ain't!:D

amcluesent

I was thinking about buying Sainsbury's Basic 9p curry sauce this morning as I figured the Lloyd Grossman Balti at £2.09 wasn't 20 times better. Eventually went for Sainsbury's own at 86p.

If you're on a budget, the thrift options are there. You can get a 28inch TV (CRT style) on Ebay for a £ tenner!

fedupfreda

amcluesent wrote: »

If you're on a budget, the thrift options are there.

Yes but they are getting more expensive. Anyone remember own brand plain flour at 9p a bag? Now its more like 60p (I bulk buy when it is at a good price so its a long time since I last bought any, so forgive me if the price is a bit off )

It wasn't that long ago that I could do a weekly shop for a family of 4 for £50, tops. Now its edging £65. My wages have not gone up by £15 a week, chance would be a fine thing. What with fuel, council tax, water etc all going up recently, the only blue sky on the horizon has been the reduction in interest rates. Without that, we would be seriously up the creek, financially speaking :eek: I suspect I am not the only one. Half the reason for many people getting over-extended on credit in the first place was because wages were not rising in line with the cost of living.:mad: They were using it just to make ends meet.

We are all going to have a major wake up call come the next election, regardless of whoever gets in. Frugality/Austerity, call it what you will, it will have to be re-awoken in the British character.

amcluesent

> Frugality/Austerity, call it what you will, it will have to be re-awoken in the British charact<

Hope so. We can start by throwing off the yoke of tax and costs imposed by Brussels and then gold-plated by town-hall numpties. Damned if I'll be buying 9p curry and then paying council tax to fund a "lesbian and gay movement and dance outreach co-ordinator" on £25K.

abaxas

amcluesent wrote: »

> Frugality/Austerity, call it what you will, it will have to be re-awoken in the British charact<

For me being frugal is a way of improving my quality of life.

Why buy something for £2 when you can often get something for 80p which is higher quality.

People think cheaper = worse. In the case of brands, usually it isnt! However, please never buy ASDA smart price tonic water.

bo_drinker

fedupfreda wrote: »

We are all going to have a major wake up call come the next election, regardless of whoever gets in. Frugality/Austerity, call it what you will, it will have to be re-awoken in the British character.

It doesn't seem to figure in some peoples agendas, but I agree some will get a wake up call :eek: Not before time.

The_White_Horse

fedupfreda wrote: »

Yes but they are getting more expensive. Anyone remember own brand plain flour at 9p a bag? Now its more like 60p (I bulk buy when it is at a good price so its a long time since I last bought any, so forgive me if the price is a bit off )

It wasn't that long ago that I could do a weekly shop for a family of 4 for £50, tops. Now its edging £65.

i dream of GBP65 a week shopping. I reckon I spend on the main shop and regular top ups at least 130-150 a week.

Jonbvn

DiggerUK wrote: »

Never mind a debt bubble bursting, it's the currency bursting we may have to prepare for.

Do I detect an indirect reference to some shiney metal??:rolleyes:

amcluesent

There's millions in 'fluff' jobs that only can be afforded in the good times. Which are over.

Unless you have a real trade knowledge or skills than can't be delivered over the Internet, expect to be on the dole. FACT you can't hammer in a nail over the 'web.

I pity all the yoofs who were conned into paying to go to Uni to "learn" media studies. They should have done hairdressing.