The "Credit Crunch" and you? - Page 5

vix · 31-08-2008, 10:40

Unfortunately for me, I have just got back on my feet as the 'credit crunch' started. So a few months ago I had more money that I'd had in a long time.

However now I can't really judge due to having no wage at the mo. Fuel has obviously gone up but that was never going to go down, and house prices have done the same.

Workwise, we still have income, so people are ovbiously still paying their gym memberships, showing that not all luxuries have yet been sacrificed.

I don't believe there was any problem until the media started throwing scare tactics around.

BBx · 31-08-2008, 11:14

I can't find a new job as no one is spending money in the City

My fixed rate runs out in Dec and I will need a new job to cover the increase :/

The thing is... even if I get a new job now, I don't wanna be in it 3months down the line and they are like 'actually love, credit crunch, can't afford ya now hop off'.

Risky job market out there... I should know working in bloody recruitment and all

Apparently in the board meeting James Caan was shouting at all my Directors - why are profits down?! Err because there are no jobs as no one is spending monies..

Meh! Gutted to hear about everyone's positions

BB x

vix · 31-08-2008, 11:23

Ooh I've seen James Caan on Dragons Den!!

Job wise, this time I am looking for a much higher paid job than ever before so it's proving more difficult, but I can't tell if that is due to the 'crunch' or not.

Will · 31-08-2008, 12:16

Job wise I'm ok as long as this merge goes well and I keep the business running well... a lot of pressure on me at the moment and for the next year probably. However, we're still making a huge profit and our shares are still high and not looking like they're dropping so the company is doing well.

Food bills have gone up, I spend around £50 a week for food. Petrol well I'm driving a bit more saint-like now, and since my commute has decreased a full tank lasts me just over a week which is perfect.

Bills are high, but we're mainly in credit so I could claw some back. Tax/insurance stings me a little at the moment, but I'm coping. My 5k payrise should help make things a bit more comfy, but I just need to learn to cut back and stop willy nilly spending and just be a bit more frugal. I've over stretched myself a little this year, but I'm starting to reel myself back in.

Overall things haven't hit me too hard obviously, but I am spending more than I used to, so it's a question of being a bit more careful.

mejinks · 31-08-2008, 12:44

Quote:

Originally Posted by Jonny69

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.

Cheers Jonny. Its nice to know someone cares

Pheebs · 31-08-2008, 13:08

Bills are much poopier than before with us. We had a hell of a time rearranging our mortgage as well (some people may have heard me curse once or a million times whilst that was going on).

For me... industry wise... it's going to be more of a struggle. Businesses are going to be much more reluctant on buying into a new product and brand - too much of a risk factor monies wise with the market. Especially greeting cards wise.

Not to worry. Look on the bright side of life... when things get better it's gonna feel GREAT

Desmo · 31-08-2008, 17:33

It's been affecting us for quite a while at work. Being a small business and with our main market being printing for the takeaways, when people have less disposable income, they spend less on eating out. And we've had a downturn in business for a long time. So whilst the media may well ham it up for their own gains, the "credit crunch" is a real genuine problem. Those of you working for large compaines may not feel it for a long time and hopefully not at all. But smaller companies do feel it much sooner and harder than most.

Desmo · 31-08-2008, 18:23

Quote:

Originally Posted by lostkat

More redundancies are expected at work before Christmas, so I do feel your pain Desmo.

Now this is where I feel for people working at larger places. You feel nothing, everything seems fine, you keep getting your pay rises and then bang, your job is gone. At least whilst I'm affected early, I can try and do something about it and it's no big shock.

Wryel · 01-09-2008, 07:50

I've started looking for a new job and everyone is offering less money than I am on now, that might be due to me getting some healthy rises over the last two years though

The only other thing is my landlord increasing rent more significantly than ever before, I think I can afford £320 a month though!

Rich_L · 01-09-2008, 09:56

Quote:

I think too many companies are seeing Credit Crunch as a fantastic excuse to duck out of payrises, particularly when you consider the number that are reporting record profits. The stupid thing is that by taking the excuse they're just making the actual credit crunch worse.

Absolutely, if I got refused a payrise by someone quoting 'credit crunch' when exceeding targets etc, I'd tell them to FO

If it's down to increasing utility/commodity prices - fair enough but if a manager is calling that the "credit crunch" they're just mindlessly (and incorrectly!) hopping onto a convenient bandwagon, probably so they can justify their own payrise by pointing out 'efficiency savings' by way of limiting staff salaries

31-08-2008, 10:40	#41
vix Penelope Pitstop Join Date: Jul 2006 Posts: 4,426	Unfortunately for me, I have just got back on my feet as the 'credit crunch' started. So a few months ago I had more money that I'd had in a long time. However now I can't really judge due to having no wage at the mo. Fuel has obviously gone up but that was never going to go down, and house prices have done the same. Workwise, we still have income, so people are ovbiously still paying their gym memberships, showing that not all luxuries have yet been sacrificed. I don't believe there was any problem until the media started throwing scare tactics around. __________________

31-08-2008, 11:23	#43
vix Penelope Pitstop Join Date: Jul 2006 Posts: 4,426	Ooh I've seen James Caan on Dragons Den!! Job wise, this time I am looking for a much higher paid job than ever before so it's proving more difficult, but I can't tell if that is due to the 'crunch' or not. __________________

31-08-2008, 12:16	#44
Will BBx woz 'ere :P Join Date: Jan 1970 Posts: 2,147,487,208	Job wise I'm ok as long as this merge goes well and I keep the business running well... a lot of pressure on me at the moment and for the next year probably. However, we're still making a huge profit and our shares are still high and not looking like they're dropping so the company is doing well. Food bills have gone up, I spend around £50 a week for food. Petrol well I'm driving a bit more saint-like now, and since my commute has decreased a full tank lasts me just over a week which is perfect. Bills are high, but we're mainly in credit so I could claw some back. Tax/insurance stings me a little at the moment, but I'm coping. My 5k payrise should help make things a bit more comfy, but I just need to learn to cut back and stop willy nilly spending and just be a bit more frugal. I've over stretched myself a little this year, but I'm starting to reel myself back in. Overall things haven't hit me too hard obviously, but I am spending more than I used to, so it's a question of being a bit more careful. __________________ *No No!*

31-08-2008, 13:08	#46
Pheebs Deep Throat Join Date: Jul 2006 Posts: 6,512	Bills are much poopier than before with us. We had a hell of a time rearranging our mortgage as well (some people may have heard me curse once or a million times whilst that was going on). For me... industry wise... it's going to be more of a struggle. Businesses are going to be much more reluctant on buying into a new product and brand - too much of a risk factor monies wise with the market. Especially greeting cards wise. Not to worry. Look on the bright side of life... when things get better it's gonna feel GREAT __________________ http://www.spiffingdesigns.co.uk

31-08-2008, 17:33	#47
Desmo The Last Airbender Join Date: Jun 2006 Location: Pigmopad Posts: 11,915	It's been affecting us for quite a while at work. Being a small business and with our main market being printing for the takeaways, when people have less disposable income, they spend less on eating out. And we've had a downturn in business for a long time. So whilst the media may well ham it up for their own gains, the "credit crunch" is a real genuine problem. Those of you working for large compaines may not feel it for a long time and hopefully not at all. But smaller companies do feel it much sooner and harder than most. __________________

31-08-2008, 11:14	#42
BBx Reverse SuBo Join Date: Jul 2006 Location: London Posts: 8,673	I can't find a new job as no one is spending money in the City My fixed rate runs out in Dec and I will need a new job to cover the increase :/ The thing is... even if I get a new job now, I don't wanna be in it 3months down the line and they are like 'actually love, credit crunch, can't afford ya now hop off'. Risky job market out there... I should know working in bloody recruitment and all Apparently in the board meeting James Caan was shouting at all my Directors - why are profits down?! Err because there are no jobs as no one is spending monies.. Meh! Gutted to hear about everyone's positions BB x

01-09-2008, 07:50	#49
Wryel Absinthe Join Date: Dec 2006 Posts: 1,148	I've started looking for a new job and everyone is offering less money than I am on now, that might be due to me getting some healthy rises over the last two years though The only other thing is my landlord increasing rent more significantly than ever before, I think I can afford £320 a month though!