Are You Feeling The Crunch?
July 14th, 2008
FreeMoneyFinance recently asked are you feeling any economic pain, so I thought I’d look at the same subject from a UK perspective, and poll Money Watch readers on whether you are feeling the effects of the credit crunch yet? When I say crunch here, I’m using the term loosely, as I’m referring to more than just the problems with mortgages and credit, I’m including rising fuel, energy and food prices etc. in there too.
From a personal perspective, whilst the crunch has not directly affected me yet, I have seen it effect others in quite a dramatic way (job losses) - and working in financial services, you just never know what could be around the corner.
I’ve also seen the effect of rising prices on the amout of disposable income we have. At home, we have started tightening our belts by watching what we spend more closely, keeping a keen eye on the cost of a weekly shop and ensuring we’re getting the best value for money. I’m (still) trying to work out how much my car costs me to drive, and generally trying to reduce our wasted energy around the home.
So how about you - are you feeling the effects of the crunch? And what are you doing to minimise its effects? Take our poll and let us know your thoughts in the comments below.
photo credit: Steven Fernandez
Categories: Debt, Economy, Featured, Money Saving, Mortgages
