How is this credit crunch affecting you?

Question

Well being truthful its not really affecting me at all so have come to the conclusion its all just media hype. I'm not struggling with essential payments like gas or electric, council tax is the same. so why are people apparently struggling with there bills? The only affect I have noticed is that I'm paying more for my plane tickents when I go on hoilday. Is this all media hype?

Answer 1

I'm thoroughly enjoying it so far !

Answer 2

all bill food and petrol prices have gone up but the wages aint

Answer 3

No, I wouldn't say this is all media hype. The credit crunch, in my opinion, is affecting those who are deep into credit, or are borrowing over their credit.

My husband and I are very careful when it comes to credit and draw the line where we feel comfortable. That line is far sooner than creditors were drawing the line with us. A few years ago, when we first were looking at buying a house, we were told by our bank that we could afford a $2800 monthly payment. What?!!? We were only comfortable going to $1500 so this was a huge surprise. We left the bank, and went another route which was more comfortable and realistic to us. In hindsight, had we listened to that mortgage broker, we could've bought a house and had a skyrocket mortgage payment. However, we would probably have since lost our house and feeling the "credit crunch" severely as a recent foreclosure kills your credit.

I think as long as we all make decisions as best as we can, staying within what we know is best for us, we will come up on top. I would never solely rely on others opinions when it comes to how my life is directly affected - especially over the long term. I would make sure I knew what I was getting myself into. Research, ask around, but ultimately make the decision for myself.

I think that lack of common sense is one of the reasons our nation is in a credit crunch. We've all got to work hard to go up. Good things don't come free. And even if they come on credit, you'll pay more for them in the end. The question you've got to ask is "Is it worth it?"

That being said, I've noticed that some costs of living are going up, but we are able to handle that by being flexible with our spending habits.

Answer 4

Not really affecting me - I just got a pay rise.

Answer 5

I am looking for a new home, so it's not affecting me, you can pick up some real bargains, most people are having to drop the price of their house.

Answer 6

It hasn`t affected me yet,,and is unlikely to

Answer 7

Pensions are being hammered, house prices are falling (important if you have one), thousands of financial jobs will be lost.  Not just rich bankers, but all sorts on all incomes.

Just becuase it doesn;t affect you, it will have a terrible effect on a large number of people/

Answer 8

Like you, the only obvious increase has been on the price of my flights. I don't have a mortgage or any debts so I'm not really affected as yet!

Answer 9

hasnt affected my hubby and i either, like you i think its all hype. been shopping to day in tescos and i spent round about the same i have been doing for months. only thing ive noticed a real difference in are the mortgage (which is up and down anyway) gas electricity and fuel bills but it isnt causing any hardship.