The "Credit Crunch" and you?

Del Lardo · 29-08-2008, 18:20

I was told today not to expect a payrise this year due to the "credit crunch" despite my company making big profits (billions of $) and my group hitting 112% of our target. This is the first time the "credit crunch" has had a direct effect on me and I'm really wondering how much of it is real and how much of it is media hype?

Certainly mortgages are harder to get but IMO the banks have just gone back to sensible lending criteria like they had 8 years ago before the housing boom took off but there seem to still be plenty of jobs out there and people (that I know) aren't getting made redundant left, right and centre.

So have you been effected by the "credit crunch" or do you perceive it as media scaremongering that helps sell papers?

Wellington · 29-08-2008, 18:39

I've noticed it, mainly on the food and bills etc etc but I changed job so in a way yes it's affected me, no it hasn't hurt yet! Not getting a pay rise due to credit crunch sounds abit **** to be honest, in a way I'd be expecting a pay rise to help me keep paying those mounting bills.... or looking elsewhere but that's me...

lostkat · 29-08-2008, 18:44

Yep. Can't get a new mortgage deal as the house price has gone down. Going to have to sit on standard variable rate for a bit

Our gas/electric supplier also just announced a 20% increase in bills too.

Oh and our food bills have gone up noticably because the supermarkets are putting prices up.

Yay!

Mark · 29-08-2008, 19:08

Food bill for me, and the local taxis have all just gone up 50p. I'm glad of my free bus pass, and fixed rate energy and mortgage (both for at least another 2 years). I got the mortgage deal sometime in 2006 IIRC so I can't credit the credit crunch with that decision.

LeperousDust · 29-08-2008, 19:18

Personally i've not really noticed food yet, obviously noticed petrol prices and utility bils seem to be rising a fair amount too... All part of the game i guess...

I really need to sit my flatmates down and sort out energy bills properly because the guy in "charge" doesn't seem to care that if we shop around a bit we could probably save hundreds... Starting to annoy me now!

Haly · 29-08-2008, 19:30

Due to our family circumstances it's tricky to tell really as our electricity bill was lower this past quarter than it has been in years (but that's b/c there's one less person in the house

) and we've been eating differently so it's hard to compare accurately.
As my Mum's on a private pension because of her neck injury, and I'm not currently working, our income is very far from brilliant but that's nothing to do with the credit crunch.
We've recently changed energy providers to a fixed rate deal which will hopefully help a lot in coming months and I think we timed it very well.

Pebs · 29-08-2008, 19:44

Food, petrol, clothes, bills, all nicely topped off with a Northern Rock mortgage going up £500 p/m from September means basically, I'm screwed

lostkat · 29-08-2008, 19:46

Northern Rock suck, huh? I feel your pain sista

Chuckles · 29-08-2008, 19:47

Quote:

Originally Posted by Pebs

Food, petrol, clothes, bills, all nicely topped off with a Northern Rock mortgage going up £500 p/m from September means basically, I'm screwed

Going up TO £500 p/m or actually going up £500?

I haven't noticed that much. I'm on SVR at the moment but it seems to be a good rate as it's only £100 more p/m than what it was on the discount. Luckily I've had a few pay rises since I took it out so my disposable income is still more.

I'm gonna ride it out and hope the rates go down a bit before jumping back in on a discount or tracker.

Flibster · 29-08-2008, 19:50

Food and petrol certainly.

No workers here have had a pay rise in three years *but unsurprisingly, management have.... but the people who work haven't*

Other half on the other hand has had several pay rises and has just got a permenant job for a stupidly large amount of money.

29-08-2008, 18:20	#1
Del Lardo Absinthe Join Date: Jan 2007 Location: Cambridge Posts: 2,539	The "Credit Crunch" and you? I was told today not to expect a payrise this year due to the "credit crunch" despite my company making big profits (billions of $) and my group hitting 112% of our target. This is the first time the "credit crunch" has had a direct effect on me and I'm really wondering how much of it is real and how much of it is media hype? Certainly mortgages are harder to get but IMO the banks have just gone back to sensible lending criteria like they had 8 years ago before the housing boom took off but there seem to still be plenty of jobs out there and people (that I know) aren't getting made redundant left, right and centre. So have you been effected by the "credit crunch" or do you perceive it as media scaremongering that helps sell papers?

29-08-2008, 18:39	#2
Wellington Long Island Iced Tea Join Date: Sep 2007 Location: Cranham, Upminster, Essex Posts: 293	I've noticed it, mainly on the food and bills etc etc but I changed job so in a way yes it's affected me, no it hasn't hurt yet! Not getting a pay rise due to credit crunch sounds abit **** to be honest, in a way I'd be expecting a pay rise to help me keep paying those mounting bills.... or looking elsewhere but that's me... __________________

29-08-2008, 18:44	#3
lostkat Good Cat Join Date: Jun 2006 Posts: 5,550	Yep. Can't get a new mortgage deal as the house price has gone down. Going to have to sit on standard variable rate for a bit Our gas/electric supplier also just announced a 20% increase in bills too. Oh and our food bills have gone up noticably because the supermarkets are putting prices up. Yay! __________________ Oooooh Cecil, what have you done?

29-08-2008, 19:18	#5
LeperousDust Bananaman Join Date: Jul 2006 Location: Liverpool/Edinburgh Posts: 4,817	Personally i've not really noticed food yet, obviously noticed petrol prices and utility bils seem to be rising a fair amount too... All part of the game i guess... I really need to sit my flatmates down and sort out energy bills properly because the guy in "charge" doesn't seem to care that if we shop around a bit we could probably save hundreds... Starting to annoy me now! __________________

29-08-2008, 19:30	#6
Haly Do you want to hide in my box? Join Date: Jun 2006 Posts: 14,941	Due to our family circumstances it's tricky to tell really as our electricity bill was lower this past quarter than it has been in years (but that's b/c there's one less person in the house ) and we've been eating differently so it's hard to compare accurately. As my Mum's on a private pension because of her neck injury, and I'm not currently working, our income is very far from brilliant but that's nothing to do with the credit crunch. We've recently changed energy providers to a fixed rate deal which will hopefully help a lot in coming months and I think we timed it very well. __________________ Halycopter

29-08-2008, 19:08	#4
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	Food bill for me, and the local taxis have all just gone up 50p. I'm glad of my free bus pass, and fixed rate energy and mortgage (both for at least another 2 years). I got the mortgage deal sometime in 2006 IIRC so I can't credit the credit crunch with that decision.

29-08-2008, 19:44	#7
Pebs Easymouth Join Date: Jul 2006 Posts: 6,716	Food, petrol, clothes, bills, all nicely topped off with a Northern Rock mortgage going up £500 p/m from September means basically, I'm screwed __________________ ...faster you naughty little monkey! Running through hell, heaven can wait!

29-08-2008, 19:46	#8
lostkat Good Cat Join Date: Jun 2006 Posts: 5,550	Northern Rock suck, huh? I feel your pain sista __________________ Oooooh Cecil, what have you done?

29-08-2008, 19:50	#10
Flibster Moonshine Join Date: Jul 2006 Posts: 3,388	Food and petrol certainly. No workers here have had a pay rise in three years but unsurprisingly, management have.... but the people who work haven't Other half on the other hand has had several pay rises and has just got a permenant job for a stupidly large amount of money. __________________

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