Recession...how's yours ?

[gbb]

Bit of a funny subject to discuss, not even sure it's right to do so but here's how i'm seeing it...
Rode though the last ones in the 80s and 90s without really being affected by them, but this one's different. We both work full time, although my hours have been quite severely curtailed, as a result i'm not earning what i was 3 years ago
It occured to me the other day, when we do the shopping, there's more and more own brand stuff in the trolley, That's not such a terrible thing, it's not that it's bad, it just tastes slightly different.
Eating out, we used to go out at least once a week, it's more like once a month now, maybe less.
Petrol, never did use the car much, i still desperately try to put the same amount of fuel in i always used to, but can't do anything like the mileage i used to for the same money so that's curtailed somewhat.
Energy prices...i think it costs me circa £25 a week for gas and electric, to me that seems a lot compared to the past and we're very careful with useage.
We used to go to the coast, maybe even just for fish and chips and a walk along the front...hav'nt done that this year at all.

It's not as though we can't do the things we used to, it seems we've re-prioritised whats important. Ironically, we still save although that's harder, but you get bugger all for it, however much is sitting in the bank. Take out an ISA or whatever and you've got to jump through hoops to get anything worthwhile back on it.


I always find the positive in anything bad, it's a lesson in seeing what's important and the value of money....but it's bloody boring and quite hard work.

Am i alone ?

 

[Vapin' Joe]

Recession or no recession, we in this country live lives of luxury that most people in the world can only imagine. It's all a matter of perspective, my parents, let alone grandparents lived what they thought were comfortable lives but would now be classed as poverty.

Recessions and booms follow each other sure as night follows day, you just got to roll with it.

 

[gbb]

Recession or no recession, we in this country live lives of luxury that most people in the world can only imagine. It's all a matter of perspective, my parents, let alone grandparents lived what they thought were comfortable lives but would now be classed as poverty.

Recessions and booms follow each other sure as night follows day, you just got to roll with it.

Its true..i know it. Trouble is you (we) always compare.
Don't get me wrong, the 'extras' are superfluous, but they're what make life a little more interesting and fun. As said, it allows you to get your head down and concentrate on the more important things in life...but interesting, it's not.

 

[vernon]

No belt tightening needed at Chateau Vernon. Several big ticket loans were settled in the past couple of years which has soaked up all cost of living increases that have come our way and there's still a budget surplus. All achieved through good luck rather than good management.

 

[Arch]

It occured to me the other day, when we do the shopping, there's more and more own brand stuff in the trolley, That's not such a terrible thing, it's not that it's bad, it just tastes slightly different.

My basket (I don't get a trolley for fear of filling it and then not being able to carry it home), is usually a sea of orange and white - Sainsburys Basics colours! There are days when it's Basics, and Reduced to Clear and that's everything.

Much of it is only the same 'normal' own brand stuff but just the small/odd shaped bits, and a fair bit probably comes out of the same factories as the branded...

I'm not noticing the recession much, by virtue of already living a pretty simple life on a relatively small wage. The flip side being, if it does bite, I have fewer places to cut back further.

 

[accountantpete]

Bit different from the other recessions - clients have not so much gone out of business as just downsized their operations.

The only problem is that interest rates will have to go up at some stage. If that is within the next 5 years then the s**t will really hit the fan.

 

[gbb]

Bit different from the other recessions - clients have not so much gone out of business as just downsized their operations.

The only problem is that interest rates will have to go up at some stage. If that is within the next 5 years then the s**t will really hit the fan.

Just 'ticking over' is how we see our work. we're not producing a fraction of what we used to, but it's not just us. The machinery suppliers engineer drops by now and then and he says everyones quiet in our industry (fruit).
We've come to the conclusion as it's all bitten in peoples pockets, what are you going to buy ? fruit or veg, Fruit's a bit of a luxury, veg is staple,

You're right about the interest rates i think. I'm lucky, only a very small mortgage.

 

[Deleted member 1258]

With the previous ones I was comfortably settled in work and sailed through without much trouble. This one is different for us, I was made redundant beginning of last year and had to take what was available work wise, this means yes I'm working, but I am working for considerably less cash. We've had to be very careful cash wise and have had to curtail activities somewhat, the only good thing is that I haven't got a mortgage any more and the only one of my lads still at home is grown up and working.

 

[colly]

Previous recessions were very much a struggle for me and mine.

The 80's I was made redundant (took it in fact) and began working for myself. It was very difficult seeing as we had only just had children and there was only what I made coming in. Somehow though the recession of the 90's seems much worse. As I recall interest rates went through the roof and our then 'new' mortgage pretty much doubled and we got well behind with payments. It took a long time ( and lots of cash in additional interest) to catch up.
At the moment things are tight but ok but 2008/9 were deadly. Strangely 2010 saw a huge increase in the amount of work I had coming in and by the end of the year I had work booked right through until March and April. I am still busy now and look to be so for the coming 2 or 3 months at least.
Last month I completed some work that I quoted and got the order for in February.

A couple of quiet years though are still having an effect. I'm still catching up on debts run up then. If I were not unloading those for all I am worth I would have more disposable income than ever TBH.

ACP mentioned people downsizing. I am just a one man band but even I have done that to some extent. No new van this time, instead I bought an older old Transit and so long as it keeps going for a year or so I will be well happy. I needed a new sewing machine but rather than spend 2K on a new one I got a second hand one. Stuff like that.

 

[Norm]

...as a result i'm not earning what i was 3 years ago

As I realised when I did my tax return a few weeks ago, my salary last year was less than half what it was 5 years ago. That's made a lot of a difference!

Both kids finish in private education tomorrow, they'll be in state schools from next term, the mortgage is bumping against its upper limit, the cars are held together with string and Sellotape... actually, it's not even Sellotape, it's supermarket branded stick-backed plastic. Still, I start a new job in a week, the first proper full-time role in nearly three years, hopefully things will start to change financially.

OTOH, the kids are both into fantastic schools, both are the best in the area and we were always cogitating about whether to take them out of the private system when they changed, it's just a bit frustrating to have Gordon Brown make the decision for me when he announced, in November 2008, that New Liebour was going to spend its way through the recession on the very same weekend that Network Rail suspended any work which hadn't been committed.

 

[asterix]

It's too early to say.

 

[Cycling Naturalist]

Bit different from the other recessions - clients have not so much gone out of business as just downsized their operations.

The only problem is that interest rates will have to go up at some stage. If that is within the next 5 years then the s**t will really hit the fan.

My experience too.

 

[cyberknight]

After 18 months of short time ( over £100 a week short in net pay ) i had to sell my house and get a repossession.

With the Disaster in Japan we are still on short time, banking hours when we had no parts and owing the company time which we will have to work back out of future overtime.

The company i work for has finally given us a pay rise after 3 years , the trouble is it is based on 1 years RPI and does not take into account how much we have lost , promotions this year just mean you have more expected of you for no more pay.

I am still struggling to make ends meet , i could not really afford the new bike but it is my only" luxury " as i have had to give up cycling mags, the bit of beer i drank etc to pay for it.With a new baby on the way meaning MRsCK will be finishing work i am not sure how we are going to cope.

 

[GrasB]

For me it's a case of recession?.. what recession? Oddly enough for me this recession has resulted in a better job due to the way my employer has dealt with the financial situation. I ended up stepping up the the grading ladder as when a team member left to go on to bigger & better things the University decided it was cheaper to split their responsibilities among the remaining members than employ a replacement. Also when the whole thing started my partner was doing a PhD with a rather meagre subsidence (several £1000/year less than the PPARC/STfC PhD students), since then she's landed a permanent post at the University, the reason her position is permanent is because they merged in some administration duties in with what would have normally been a pure research post. So we've not really changed our way if living, we still buy the same things in the shops, sure things are more expensive but the cost increases are where near the income gain we've managed in the last 18 months. The only real difference is that we're having to think less about big headline purchases.

 

[MontyVeda]

I'm a cheap skate who goes... "I'm not paying that for 3 onions" regardless of a recession or not. So I'm barely noticing it.

edit... saying that, if clients at work start cancelling due to 'their' recession, it may affect me at some point down the line