Credit Crunch - Recession - The Ecomony

[MisaMayah]

Hey guys
Over the past 2 months this is all I hear about in the news and read in the papers. I've gotten myself in a financial mess over the years and it really worries me that I may not have a job in the near future. It is impossible for me to save a penny at the moment.

Although its something i have been thinking about in the back of my mind. It didnt really hit home until today when i had to confidentially type up a letter of possible redundance for a fellow employee.

What are your thoughts? Have any of you been affected by the credit crunch yet?

What expenses are you cutting back on? and precautions you're taking if any?

 

[Kayteuk]

I am in a bit of a financial crisis in my life at the moment, no work, school is just blah...And I am working my butt off trying to pay back some money!

I am cutting back on MAC and Manolos big time. I am lucky I am not in double figure debt, its about £500 right now, plus bills later in the month. But its the saving part I hate!

Precautions... Not buying anything I dont really need!

 

[3773519]

Everyone is going through it in their on way. Its scary to think that maybe if things keep getting worse, they might not be money at all to buy MAC. I meanits the least of my worries but its a thought. I had moved back home with mom to save some money but it seems like everytime you make more money you end get more bills, and when you have the opportunity to save you cant because last minute bills come, such as oh my car needs a tune up, or my son daycare fee went up, or my work pants ripped need new ones.....when does it get better i dont know but we have to keep trying...

 

[Beauty Mark]

I've changed my diet a bit. Pasta is simply much cheaper!

I don't spend as much eating out or on misc. stuff. I think it's good, though, since I didn't really need any of that to begin with.

What mainly concerns me is getting into a PhD program. Bad economy=people flocking back to school (it's paid for for the sciences, and I believe can default on undergrad loans)=programs becoming crazy competitive.

I feel lucky, though, since even though I'm feeling the hurt, I don't have to worry about paying for children or worrying about a roof over my head or paying for school.

 

[LMD84]

well i havent really changed much of how i spend my pennies but what i have started doing is going to buy my meals at tesco each day (i live 2 mins away form one!) because they've put prices on food up and found that i was spending loads each week but not actually eating it all. so by going each night i only buy what i am gonna eat! yay!

 

[TISH1124]

We haven't really changed alot..Just cut out some things that I donl't really require anymore....Like clothes shopping, shoe shopping and gas mainly because I am no longer working so I don't need to shop for work clothing and shoes anymore. I used to use about $50-60 dollars in gas a week..Now I can go over 2 weeks on a full tank. I ride my bike to the gym versus driving now. That all adds up to savings. I cut out my son's afterschool care...Which saves us quite a bit as well. Humm guess I have done better than I thought now that I have typed it down.

 

[reesesilverstar]

Well this may sound spoilt and selfish, but this whole situation makes me P'd off that my parents didn't think it wise to save for my college fund, so now I have double digit debt... And I'm thinking what if I get laid off and can't repay student loans, and then my already meagre credit gets worse? What then?

I can't even say I have a nest egg, cuz by the time I'm done payin for stuff, I have not much left and THANK GOD! I don't party, or buy expensive stuff besides some makeup, or travel cuz I'd be in a worse position. It's an awful time to be a new college graduate.

 

[Chikky]

I've not much changed anything (though I should). And where I work (salon/spa) has been busier than ever, so it seems not many other are, either.

 

[xxManBeaterxx]

As far as food goes, im noticing im spending a lot more than i used to because of the price in crease. A lot of fast food restaurants in hawaii are bascially going down the crap hole.

KFC - They no longer sell mash potatoes (well they do but its very expensive its $3.50 for a small side order of mashed potatoes) they now serve rice instead.

Taco Bell - Their nachoes and other items on the menu became a lot more skimpy, i thought it was certain taco bells or servers but no they are really cutting back.

Mcdonalds - They charge .52 cents for a small cup of water when it used to be free, and the dollar menu is more like the 1 dollar 50 cent menu.

The price of fish and salmon rose almost 5 dollars. Before a plate of mashed potatoes and grilled salmon used to cost $9.49, it not costs $14.59, they are charging more and giving less, so you have to buy more to feel satisfied.

Pizza hut - You know their pastas for 10.99 that comes in a huge huge huge metal tub 12x8 inch. Yeah the tub changed into a 6inch circle.

When big cooperations such as fast food is struggling the whole world is coming to an end!!

Even people with higher education is feeling the crunch. I hardly spent in the first place and we have been saving since my husband was 19 years old, hes now almost 25. I think when you have kids when your a teenager you become even more cautious with spending habits, because in my case i had to prove to others i could make it, and i didnt want anyone else paying for my mistake.