Are you worse off because of the credit crunch

[colinrob]

I think there is so much scaremongering going on here the credit crunch has only saved me money, petrol is cheaper, my mortgsge has gone down by £500 a month anyone who is lucky enough to have a job is better off.
I feel sorry for all those people without jobs but if you have one you should be better off. The problem is with all the forecasts nobody dare spend any money so its a downward spiral.

[wainy]

SO far so good, our mortgage has halved and I have a job etc. Worked out well with the oh off on maternity however with anytime like this there is so much volatility and things can change very quickly, hence we are not spending the saving from the mortgage, just putting it away incase it is needed.

[Road Hog]

yes

[jimbo65]

Road Hog said:

yes

+1

[Aiten]

I'm much better off due to it.

[odyssey2200]

I have been redundant for a few months now and have Mortgage insurance

So I am not worse off because of the CC.
BUT

There are VERY few new jobs beeing advertised for me to apply for so the future is looking a bit bleak!

[rsv gone!]

The effects of the credit crunch haven't come home to roost yet. Lots of people are still isolated from it.

But nobody is an island, so it is only a matter of time. The availability of much less wealth in the economy will affect everyone to some extent (even if it is just holidays becoming less affordable or savings rates becoming paltry)

[ukdavvy12]

I work in the public sector - good

I have a fixed rate mortgage - bad

Im very happy with my lot
During the boom I was occasionally frustrated with my lack of pay progression but apart from the mortgage owe nothing
Now the bust is happening Im very happy to have job security thank goodness

Working for the state will never set your pants on fire but being one of the few on here to remember the last recession Im glad the rest of you pay my wages at the moment

Even if they are a fraction of a Foxtons muppet 2y ago

Cheers

[colinrob]

I have just booked a holiday in Austria hope the exchange rate is better in August

[madala]

...worse off but job safe....and no mortgage.

[gamefreaks]

Nope. Has not really affected me either way.

I have neither savings nor debts.

The company I work for is still doing strong business. We have just had a very good year and the order book is still looking very promising, so we got a reasonable annual pay-rise plus I have had two other pay rises this year as my role has changed a bit. Not earth-shattering, but every little helps!!!

The acid test would be if I was to be made unemployed. I tend to keep an eye on the job sites and there is noticably less jobs going. I suspect it is a brutally competitive market.

[Alfa_75_Steve]

Being made redundant in February, cleared the mortgage in 2007 and am earning less on my savings than the rate of inflation.

I think that's a big fat yes, then.

[jules_s]

Yesterday saw a 6 hour queue to get OUT of my local Mall.

BBC news 24 paints doom and gloom 24/7 but Sky news tells us that the foot count in the shops was 13%+ up on last year...

I'm a little better off, but I'm on an annual mortgage review which hapens in Feb, I'm quite looking forward to 12 months worth of interest reductions

[okgo]

Sales job = worse off.

Yes I am worse off.

[s,one]

In Construction, so far this year our best earner, but the short term future looks desperate.
Convinced we have talked ourselves into this in double quick time thank's to irresponsible media coverage, lets hope we can talk ourselves out of it as quick.

[Mobile Chicane]

Afraid so. No debts, but no job either. Income from savings will go through the floor once my fixed-rate deals expire.

[LHDisbest]

[sniff diesel]

colinrob said:

I have just booked a holiday in Austria hope the exchange rate is better in August

I'd get your Euro's sooner rather than later.

[nonplussed]

Yes indeed. Managing so far, but not sure how long it'll last.

[jimbo65]

jules_s said:

Yesterday saw a 6 hour queue to get OUT of my local Mall.

BBC news 24 paints doom and gloom 24/7 but Sky news tells us that the foot count in the shops was 13%+ up on last year...

I'm a little better off, but I'm on an annual mortgage review which hapens in Feb, I'm quite looking forward to 12 months worth of interest reductions

Sounds like Cribbs Causeway, maybe alot of traffic but there was 3 accidents on the M5 and
I work there and people are not spending as much judging by figures at M&S and John Lewis
which is quite a good benchmark.