Coping when times get tough

Quasar

White_Hot_Day wrote: »

Ah my old pal quasar x

Missed that post, sorry. Since I've never come across your usename before and I have no idea who you might have been in your previous... incarnation(s), I hope you will excuse me if I, er, tread carefully.

fedupfreda

treliac wrote: »

All these people who think we're on the up have, IMO, fallen for Labour lies and deceit. While they point to every possible 'green shoot,' they never give proper account of what is happening to support a theory that we are over the worst or that things are getting better, beyond a mere blip which has been caused by artificially pumping non-existent money into the economy!

So true, sadly:(. I don't believe anything I see on the news, especially when it goes so far against my own, and other people's, experience. IMO it's all lies and spin. They are trying to talk the market back up again. Sadly so many people have been conned/caught out in the past, that the only people who are falling for it are those that, so far, have been lucky enough to dodge the traps. Those of us who have already been caught, aren't quite so happy to willingly stumble into a ready laid trap.

IMO most of us realise we are in the eye of the storm now. I really hope things don't get any worse. But just in case - I am not taking any chances...:cool:

lemonjelly

treliac wrote: »

I agree with just about everything you say lemonjelly and love the insight you share with us, no doubt influenced by your experience in the personal debt field .

All these people who think we're on the up have, IMO, fallen for Labour lies and deceit. While they point to every possible 'green shoot,' they never give proper account of what is happening to support a theory that we are over the worst or that things are getting better, beyond a mere blip which has been caused by artificially pumping non-existent money into the economy!

What changes or corrections to the economy / peoples' personal finances in general, have taken place that would support such confidence or faith?

Why thank you treliac! :j
My main thinking is that nationally we've borrowed via unsecured means since round about 1997. Levels of personal borrowing have been unsustainable for years. Now the nation can't borrow as much, but I'm so confused by the manner which so many people are already thinking we're through the worst. If it took over 10 years to get to where we are, how can we turn around & get back in 9 months?

Bonia77

Lemonjelly, unfortunately, most people believe that 9 month of slight decrease of available credit is enough. They really think that 'things will go back to normal' shortly. 'Normal' being living beyond your means.

I still don't get it, but that's general consensus amongst quite a few of my friends. :eek:

StevieJ

Bonia77 wrote: »

Lemonjelly, unfortunately, most people believe that 9 month of slight decrease of available credit is enough. They really think that 'things will go back to normal' shortly. 'Normal' being living beyond your means.

I still don't get it, but that's general consensus amongst quite a few of my friends. :eek:

Simple fact is that a majority of people are actually better off (or no worse off) during this recession than they were before, strange but true.

Bonia77

But there are no free lunches, we will all be paying for the gov's
incentives for the next 10-15 years

StevieJ

Bonia77 wrote: »

But there are no free lunches, we will all be paying for the gov's
incentives for the next 10-15 years

Cliche and Daily Mail type headline an heady mix

lemonjelly

StevieJ wrote: »

Simple fact is that a majority of people are actually better off (or no worse off) during this recession than they were before, strange but true.

Disagree that the majority are better off.
Higher levels of unemployment.
Pay freezes/reductions/short time working.
Costs of essentials has increased.

The idea that lower interest rates are a saviour to the country applies to OO's (a minority), & indeed only to a minority of this minority (those on trackers).

For your average joe, people are worse off IMO.

If any of inflation/IR's rise, more will struggle. & we're expecting VAT to rise, and also fuel costs will rise soon.