Is the 'credit crunch' affecting your life?

[LyraSilvertongue]

There's been so much in the news about the credit crunch, rising food, petrol and utility costs etc over the last few months.
But is it really affecting your life?
Personally I haven't seen much of a difference. I don't use the car that much and I buy lots of special offers in Sainsbury's the keep costs down.
Who's really been affected by the current state of the economy?

homeowners are going into negative equity, transport companies can't cope with fuel increase etc. eventually it will affect you, whether its an increase in the price of fuel or bread, it will only continue to get worse.

things are going to become VERY tough, Lyra

It's all looking a bit bleak isn't it.

this winter, we, like many others, will struggle to heat our home and will have to do without heat at times.

the price has gone too high for us to afford.

a lot of peoples' mortgage will be going up (we don't have a mortgage, we rent).

Oddly enough we've seen our mortgage payments going down in the last few months because the Bank of England keeps cutting interest rates. I suspect this won't last though and they may start creeping back up.

our energy provider wrote to us yesterday, our standing order is DOUBLING from next month to meet predicted costs

Doubling?!

a lot of people got a mortgage at a lower rate than it is now, Lyra. and now that their introductory rates are expiring, they'll face higher repayments.

in addition, many have to use their car for work or to get to work due to crap/expensive public transport, and the cost of petrol is eating into their purses more and more.

more stand to lose their jobs and unemployment has gone up.

Same as expat. Am dreading the winter bills already.

yes, they will not be cutting interest rates as inflation is so high - the figure the Gov use is far lower than the real rate of inflation

can't help thinking Brown is going to orchestrate military action in Afghanistan to avert attention from the terrible state of our economy - anyone else?

our LPG tank costs about £350-£400 to fill.

in winter, it lasts a couple of months.

Lyra - yep

I'm mostly noticing my food bill rising; from this week i am going to write a list and thats it. Normally i just get whatever looks nice, i will have to get offers etc to make things go further.

Also diesel is ridiculous - dh has a diesel van for work, he has to do 40 miles round trip every day...also for our car; dss lives 300 miles away, so seeing him is impacting more on our finances, and his DM doesnt contribute or help to that (not saying she should btw)

I havent heard anything from fuel provider (yet)

Yes, I guess we'll notice the difference in fuel costs when the weather gets colder.

Well i'm seing the benefit side of npt haviong a mortgage and renting!

But es it is, its coincided with me finishing uni, a new baby and a drop in ds3's dla so we're beinh hammered yet our bills are ging up of copurse

And dh works in an affected industry (Haulage) and has been ill so is half expecting to be let go in te next year (they let those with sick histories go first, and he'as been off 2 weeks with suspected stomach ulcer / having tests)

the benefit side to renting is that we can LEAVE and vote with our feet. we'll be moving next year and it's a good thing, because the school is shite.

I've changed from liquid handwash to normal solid soap. I walk rather than drive to buy top-ups during the week. I don't quite know why I'm doing this as it's not affecting us yet and, touch wood, it won't. DH works for an oil company so I guess it's the place to be ATM.

Dinny, yesterday my dh said pretty much the same thing - but about Iran.

I think the biggest effect on us has been not being able to sell our house. We've just taken it off the market as we don't want to sell it for peanuts.
Hmm, looks like we're being affected more than I thought...

(but as dh has a 60 mile round trip and lowish pay, he'd probably be better off out of work- we work for moral reasons)

wish my carers allowance wasnt takingg so long to sort though

Cristina, sounds like you're taking sensible precautions.
We've also been wasting less money just in case (although we're hosting an expensive party for DS2's birthday this weekend but costs will be shared with another family).

Have a new job starting in January, 1hr 30min commute away. Were planning to move by then, but need to sell flat first! Really don't want to return to work with a long commute and never see ds (who will then be 11mo). So yes, affecting us very much

Oh, how could I have forgotten? We're also taking the flat off the market as it's not selling. So, yes, it's affecting us more than I first thought. Bugger.

When I check my bank statement I am shocked at how much money has gone on fuel. I don't live in walking distance of anything, and buses just aren't good enough. I do have to travel a fair bit. For the first time in ages I have slipped into my overdraft this month and my food bil has increased enormously, to the point where I have stopped buying the usual stuff and really trying to economise. It's a little bit scary.

Well, for the first time in my adult life I'm actually happy to be renting and not paying a mortgage, so I guess that's something...

But bills scare me and petrol prices are insane. As a full-time student and single parent I don't have to pay council tax atm, but will in a couple of months and don't know where I'm going to find it in a budget already stretched to its limit.

We will be eating an awful lot of baked beans, and wearing two jumpers indoors come the colder months. I don't mind that and I know there are plenty far worse off than me, but the future does worry me.