Is a looming recession making you change your plans?

[wondering56]

I am very ready to change jobs. I've been with current employer for ages and fed up undervalued etc but now I'm feeling nervous about changing jobs reading the news ..

Well it's make me realise I'm done for if I lose my job which may happen

It’s just making me not spend on unnecessary things & definitely watching money & cutting down in nights out/meals (which I didn’t have many of anyway!)

I’m a cautious connie & I wouldn’t look to change jobs currently.

No holidays or nights away of any kind for the foreseeable future. No eating out. No to numerous social opportunities. No home improvements. Limited food shopping. Less frequent hair colour/ cuts. No non essential clothes buying (just school uniform and underwear). Taking on extra work so less spare time. No days out that the children will enjoy (there are free options but they find them boring). It's quite depressing.

I'm interviewing for new jobs as, like you, feel totally undervalued in my current role. So from that perspective, no.
But we are pausing any plans for extension work both from initial outlay POV, as well as heating the extra space when built!
Being very mindful of energy usage and have stopped middle of the week, £30 shops which were always my downfall! We do one click and collect shop for the week.

We're trying to move house but so far no takers which could be attributed to the current economic climate.

Our house could be a first time buyer with a big deposit or couple/young family moving from 2 bed/flat to higher family home, and it seems to be the cheaper 2/3 beds which are selling round here at the mo unfortunately

We've been looking at solar panels but it would wipe half our savings out so we've put it on hold for now. I know we would save on our electricity bill but we'd prefer to have the money in savings just in case at the moment

My mum was a financial advisor and she always said converse to instincts, it’s better for the country to spend their way out of a recession. If they have the money, that is.

I have no idea though - I don’t have anything but a rudimentary understanding of economics. I just googled it and this comes up, and it’s interesting but huge caveat - I don’t really know what I am talking about.

www.investopedia.com/terms/j/john_maynard_keynes.asp

I wouldn’t be changing jobs, last in is first out for redundancy.

I'm interviewing for jobs at the moment and will leave if I get one. I think it depends on your personal circumstances and how secure your current job is.

We are putting an extension on hold for now and making some general cutbacks.

We've toyed with solar panels off & on for a couple of years too but losing the savings has always put me off too

I've always thought this although it's hard because I'm slightly terrified of what the future holds for us. I've seen a couple of local businesses are really struggling and I would love to help and support them but at the same time I'm feeling like I can't help everyone. It's really sad.

We've just booked expensive new double glazed windows that we've needed for a while. It's wiping out a large chunk of my savings but the forthcoming recession and energy payment hike made me get on with it as it will make a huge difference to the insulation of our house.

Having said that, I have had butterflies since paying the first instalment as it is such a huge amount of money.

I otherwise am cutting right down on expenditure: less Ocado, much less, and more Lidl. Cheaper toiletries, no new clothes unless strictly necessary, and running the dishwasher on its eco setting and doing loads of washing less often. Taking a thermos of coffee to work instead of buying flat whites, taking tea bags in for the afternoon, and cutting right back on treats eg takeaways.

I dont' usually budget very much as I earn enough usually to save a bit each month, even after my pension etc payments, but now I'm noticing the cost of living very sharply so am taking proper steps to curb unnecessary expenditure. It's quite satisfying, really, but I have no doubt the novelty will wear off.