The "Credit Crunch" and you? - Page 4

Burble · 30-08-2008, 12:18

It costs me about £65 to fill my car up which I'm ok with but it only gets me about 275 miles.

Fayshun · 30-08-2008, 13:35

Quote:

Originally Posted by Burble

It costs me about £65 to fill my car up which I'm ok with but it only gets me about 275 miles.

I've got no idea how many miles that £75 takes me, but it lasts me almost 2 weeks of to and from work and pootling about round Banbury to the shops and back.

Pebs · 30-08-2008, 21:04

£65 to fill mine up, 330ish miles. Which is about a week. I can't complain though. I chose a daft car and I consider it my luxury.

Lynnie_pitch nee Leigh · 30-08-2008, 21:44

Pebs are you in a union?

If you are contact them as you should be entitled to a free financial advisor

Worth looking into. They do all the running round and they have deals that others don't

Pebs · 30-08-2008, 21:49

Northern Rock have supplied someone although they're being pretty slow. I've taken a mortgage holiday this month and apparently I can reduce the payments for 3 months, by which time I WILL have something sorted.

Pumpkinstew · 30-08-2008, 22:28

As I understood it the 'Credit Crunch' is a result of financial institutions being unable to recover credit on high risk loans which in turn led to a reduction in lending and then a stalling (now shrinking) housing market.
The rise in price of energy and food is caused by increasing global demand for commodities, in particular in China and India, and sheer greed in OPEC nations. This is driving inflation up to over the double the government target of 2%, although the booming property market in the UK also had a big effect. This trend was apparent before the collapse of the sub-prime market in the States and the onset of the credit crunch, hence interest rate rises.
Although both are detrimental to the economy one is not a cause of the other and so should be considered as separate issues.
The big headache is that one can be alleviated by raising interest rates (encourage saving, brakes on inflation) and the other by lowering interest rates (encourage borrowing, stimualtes housing market).
I'm not an economist so please set me straight if this is guff.

In answer to the OP I haven't noticed any effect since I'm on a fixed rate mortgage and not looking to move house.
Obviously petrol, food and utilities increases are eating into my disposable income but I don't see that as being related to the credit crunch.

mejinks · 30-08-2008, 22:48

Quote:

Originally Posted by Bigstan

Sorry to hear that dude - hope you find something soon

Cheers Stan, its a kicker, but I have a few things lined up.

Stan_Lite · 30-08-2008, 22:56

Quote:

Originally Posted by Fayshun

Costs me £75 to fill my car right up from running on vapour (which I frequently have to).

Quote:

Originally Posted by Burble

It costs me about £65 to fill my car up which I'm ok with but it only gets me about 275 miles.

Quote:

Originally Posted by Pebs

£65 to fill mine upr, 330ish miles. Which is about a week. I can't complain though. I chose a daft car and I consider it my luxury.

I'm about £55 to fill mine with vpower (tiny fuel tank) which gets me about 320 miles motorway driving or about 280 miles mixed.

Quote:

Originally Posted by mejinks

Cheers Stan, its a kicker, but I have a few things lined up.

Good luck dude

Jonny69 · 31-08-2008, 01:11

Not really affected me too much other than I just quit my job for a career change and in hindsight I probably didn't pick my timing all that well. I live well within my means though, even on my meagre income I piled away enough to keep me going for about 10 months if I need it. Was going to use it for my house deposit but if I need it to live on then so be it.

Mej sorry to hear about your job bub, crap news.

Burble · 31-08-2008, 10:24

Quote:

Originally Posted by Pebs

I can't complain though. I chose a daft car and I consider it my luxury.

Ditto. I didn't buy something with a thumping great V6 and expect 50mpg

30-08-2008, 21:04	#33
Pebs Easymouth Join Date: Jul 2006 Posts: 6,716	£65 to fill mine up, 330ish miles. Which is about a week. I can't complain though. I chose a daft car and I consider it my luxury. __________________ ...faster you naughty little monkey! Running through hell, heaven can wait!

30-08-2008, 21:44	#34
Lynnie_pitch nee Leigh Princess Mombi Join Date: Jul 2006 Location: Liverpool Posts: 2,098	Pebs are you in a union? If you are contact them as you should be entitled to a free financial advisor Worth looking into. They do all the running round and they have deals that others don't __________________ Please captain, not in front of the Klingons

30-08-2008, 21:49	#35
Pebs Easymouth Join Date: Jul 2006 Posts: 6,716	Northern Rock have supplied someone although they're being pretty slow. I've taken a mortgage holiday this month and apparently I can reduce the payments for 3 months, by which time I WILL have something sorted. __________________ ...faster you naughty little monkey! Running through hell, heaven can wait!

30-08-2008, 22:28	#36
Pumpkinstew Absinthe Join Date: Oct 2007 Location: Mostly Oxford, Sometimes Bristol Posts: 1,156	As I understood it the 'Credit Crunch' is a result of financial institutions being unable to recover credit on high risk loans which in turn led to a reduction in lending and then a stalling (now shrinking) housing market. The rise in price of energy and food is caused by increasing global demand for commodities, in particular in China and India, and sheer greed in OPEC nations. This is driving inflation up to over the double the government target of 2%, although the booming property market in the UK also had a big effect. This trend was apparent before the collapse of the sub-prime market in the States and the onset of the credit crunch, hence interest rate rises. Although both are detrimental to the economy one is not a cause of the other and so should be considered as separate issues. The big headache is that one can be alleviated by raising interest rates (encourage saving, brakes on inflation) and the other by lowering interest rates (encourage borrowing, stimualtes housing market). I'm not an economist so please set me straight if this is guff. In answer to the OP I haven't noticed any effect since I'm on a fixed rate mortgage and not looking to move house. Obviously petrol, food and utilities increases are eating into my disposable income but I don't see that as being related to the credit crunch. __________________ Get old, or die tryin' PSTEWREVIEWS - Chunks of Meaty Reviews, Mixed with Your Five a Day of News, Comment and Opinion, Floating in a Broth of Suspect Grammar and Seasoned Liberally with Mixed Metaphor. Tasty.

31-08-2008, 01:11	#39
Jonny69 Noob Join Date: Oct 2006 Location: Socialist Republik of Kent Posts: 5,032	Not really affected me too much other than I just quit my job for a career change and in hindsight I probably didn't pick my timing all that well. I live well within my means though, even on my meagre income I piled away enough to keep me going for about 10 months if I need it. Was going to use it for my house deposit but if I need it to live on then so be it. Mej sorry to hear about your job bub, crap news. __________________

30-08-2008, 12:18	#31
Burble Rocket Fuel Join Date: Jul 2006 Posts: 7,826	It costs me about £65 to fill my car up which I'm ok with but it only gets me about 275 miles.