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Post by Susie Snowdrop on Jan 18, 2009 18:42:45 GMT
I don't know if anybody else has been affected by the so called 'credit crunch' but I've had my working hours reduced from 40 to 28 hours  Although this is going to cause some hardship I'd much rather keep my job than lose it altogether. At the old ICI works near my town 400 people have just lost their jobs together with those who worked at Woolies. We have also recently found out that our M & S is closing with more job losses Has anybody else been affected yet? S x |
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Post by Dutchy on Jan 18, 2009 18:49:02 GMT
Ah Susie bggr. Hang in there girl. With a little luck a coleague of yours might decide to leave and you can then perhaps combine two jobs back to one complete one? I know I am a daft old optimist  We are not yet affected yet but my OH is in IT and things are falling like leaves in Autumn. We'll see where the ball rolls.  |
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Post by Susie Snowdrop on Jan 18, 2009 18:52:10 GMT
Don't think that's going to happen Dutchy I only took out a 3 year fixed mortgage deal in September didn't I . I've talked to folk whose mortgages have halved since the interest rate dropped S x |
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Post by Plocket on Jan 18, 2009 19:02:39 GMT
We've not been affected yet but it's unlikely OH will get a bonus this year (and no he doesn't work for a Bank!). I'm glad you've still got a job Susie but it must be very difficult for you.
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Post by Tig on Jan 18, 2009 19:19:49 GMT
Same thing all over the country I think Susie, not only lost Woollies but loads of other shops are empty in our High St, garages have gone into administration, pubs are closed, factories laying workers off or reducing hours  I have been hit by the other side of it, the drops in interest rates means my limited 'extra' income from my saving pot has all but disappeared and I shall be eating into my capital if anything breaks down .. hey ho such is life, ups and downs ... Not to be despondent though, it has happened before and we will hopefully find things start to get better in the not too distant future |
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Post by Chuckles on Jan 18, 2009 21:44:36 GMT
 thats not good Susie. Will you go for a 2nd partime job to try and make up some of the income. Is there anything you'd like to do, maybe self employed. Bummer about the mortgage, typical when you could well do without it. Our local Woolies has gone obviously, also M&S food store and there are loads of small shops in the town that are closed or closing, it's all very sad. Like you Tig my income from savings has been hit really badly, I had money in Icesave which was earning good interest till they went belly up. Ok I got it back but then finding somewhere to put it and get a reasonable return was a pain. OH who is a self employed builder has said the phone isn't ringing as much. It's effecting most folk one way or another, time to tighten our belts as it looks as though there will be some hard times ahead for a lot of folk me thinks.
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Post by JennyWrenn on Jan 19, 2009 6:58:45 GMT
On the plus side I now notice my Bank actually is nice to me now The other day the really grumpy unhappy looking male cashier smiled and asked "Is there anything else I can do for you today"  Anyone else noticed a change of attitude with shop assistants for eg They are now so so helpful - wonder why  |
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Post by farmersboy on Jan 19, 2009 7:08:21 GMT
Credit crunch,ive never been so well off in all my life ;D
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Post by Barbara on Jan 19, 2009 8:08:17 GMT
Well my OH didn't get his bonus in Jan and its doubtful for June as well, but at least he has work, my daughter and her OH run a pub, they have been told to cut staff, and here's me having the nerve to retire this month, I'll go car booting or something if times gets 'ard.
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Post by nightowl on Jan 19, 2009 8:47:50 GMT
Credit crunch,ive never been so well off in all my life ;D Are you working on the side as a high-class gigolo or something FB? It wouldn't surprise me! ;D |
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Post by farmersboy on Jan 19, 2009 9:02:01 GMT
;D ;D No NO,i only have my state pension,farm workers never had any pension schemes,and as my wages only reached £200 per week a few weeks before i retired,im just as well off now,and what with good old Gorden giveing us £300+heating allowance,petrol prices down,every thing is tickety boo ;D
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Post by blodau on Jan 19, 2009 10:22:55 GMT
Sounds like we all need to find ourselves a pensioner to be our sugar daddy!
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Post by carolann on Jan 19, 2009 11:02:13 GMT
Sounds like we all need to find ourselves a pensioner to be our sugar daddy!  I have an OAP FIL if anyone wants him ;D
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Post by Susie Snowdrop on Jan 19, 2009 11:07:54 GMT
Sounds like we all need to find ourselves a pensioner to be our sugar daddy! I think FB is already virtually spoken for ;D I don't think I'll be able to take another p/t job as my days off each week are different. Thought about a car boot but, to be perfectly honest, I haven't anything to sell and I aint parting with my pooter, tv etc! There is, however, a certain bridge in a certain town where certain ladies can make an extra bob or two ;D S x |
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Post by Barbara on Jan 19, 2009 12:46:21 GMT
well dont sell yourself short girl, I've just been reading about some girls in france, charging £ 8,000. a night. |
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Post by snowowl on Jan 19, 2009 14:15:46 GMT
It is very depresing right now.Susie it is hard to have a wage decrese but at least you still have your job if only a few hours.
I hate to hear the news with more places closing and more job losses.
My OH works for the council and they are asking for volentry redudnancies.
We are having a real hard time at the moment with a lot of exspensive vet bills.
We just about go without most basic things to keep charlie alive and well.
But we are fairly lucky that we have OH mum that helps us out a lot when we are at rock bottom and she has paid a bit towards charlie vet fees.
I cant wait for the econamy to recover not only in this country but around the world.
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Post by Spruance on Jan 19, 2009 16:56:14 GMT
Sorry to hear that Susie.
I must say that I do feel a little vulnerable at the moment having been off work now for ten weeks and looking likely to be off for a while longer yet. Then again the MD has been very supportive and nothing has been intimated, but logically they will be reviewing their options. After all I only started there last June after previously being made redundant twice in the preceding nine months.
In 2001 at a previous job, I opted for shorter hours, along with departmental colleagues when my then employer was looking for voluntary redundancies, and as a result the company agreed to keep us all on. What was galling about that was that the lady who would otherwise have been made redundant chose to leave for a new job nine months later, which didn't go down very well at the time.
If a company is prepared to be flexible and offer shorter hours I think that has to be seriously considered as at least you still have your job should things pick up in the future. I ended up having every Wednesday off for a period of ten months before being invited to go back to full time working, and it worked out very well despite the reduced income.
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Post by JennyWrenn on Jan 19, 2009 18:09:41 GMT
There is, however, a certain bridge in a certain town where certain ladies can make an extra bob or two ;D S x[/quote] Is you talking about Bunge Jumpin' Suze ;D |
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Post by farmersboy on Jan 19, 2009 18:13:44 GMT
She is certainly talking about jumping of some sort  |
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Post by Deleted on Jan 19, 2009 19:21:11 GMT
I feel truly sorry for the millions of folks around this country who are currently feeling the squeeze through no fault of their own. It's all down to the greed of a few bankers that we're in the mess we're in and millions are suffering as a result.
I'm sure everyone knows someone (or more likely lots of people) who have lost jobs or been placed on short time working. I have several family members in that position and it's very difficult for them.
The worst thing is, I don't think we've even hit rock bottom yet. I think this country is pretty much bankrupt already and yet they're talking on the news today of yet another bail-out for the banks. Where the hell is it all going to end ?
I just hope that we all get through these tough times and that the economy starts showing signs of recovery in the 2nd half of 2009 as the Government are predicting (hoping !). If not, this country is heading for a complete economic armageddon.
FA x
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Post by Barbara on Jan 19, 2009 19:45:47 GMT
This is what I don't understand, the government are bailing the banks out AGAIN, to get them lending money, to get the economy moving again, when I was younger NOBODY, with any sense borrowed from any where or anyone, they saved up for things, so why is it different now, and I'm not being high and mighty I have borrowed in my time, I had to with 3 little ones, but I really do not understand what has changed.
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Post by blodau on Jan 20, 2009 8:13:27 GMT
I'd guess it's because we all have more stuff these days. If you look at the sort of things that folk borrow money for - car, television, foreign holidays - they weren't so common for the previous generation. We all have far more opportunities to spend money and sometimes it's money we haven't actually got. |
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Post by Barbara on Jan 20, 2009 8:19:36 GMT
Yes BLOD, but how did the economy, and the banks, manage back then when nobody borrowed,
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Post by blodau on Jan 20, 2009 8:29:09 GMT
I'm no expert B but I think the economy was much smaller and there was more in the way of manufacturing. People did borrow but there was less in the way of personal borrowing. Probably the majority of borrowing was in the form of mortgages for property and businesses. The UK economy is now much more dependent upon service industries and this includes the banks. Think I'd better stop there as we've reached the outer limits of my understanding.  |
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Post by Barbara on Jan 20, 2009 8:30:31 GMT
I dont understand any of it,
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Post by Susie Snowdrop on Jan 20, 2009 8:36:50 GMT
I must admit that I don't really understand exactly how the economy works . My neighbours either side of me are young couples who bought their houses last summer. Both have large mortgages and have negative equity now . One of them is in real trouble and they have only just got married. I suggested that we turn their garden over and they could grow veggies this year instead of grass! They thought this was a pretty good idea so we're getting started on it next week! Every little helps! Maybe we could start a money saving idea thread? S x |
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Post by nightowl on Jan 20, 2009 9:26:57 GMT
This is what I don't understand, the government are bailing the banks out AGAIN, to get them lending money, to get the economy moving again, when I was younger NOBODY, with any sense borrowed from any where or anyone, they saved up for things, so why is it different now, and I'm not being high and mighty I have borrowed in my time, I had to with 3 little ones, but I really do not understand what has changed. I don't really understand how this is supposed to work either, but it seems fairly obvious that it's throwing good money (OURS!!!!) after bad! Did anyone else see that news about the Northern Rock executives that resigned after only one year and walked off with HUGE leaving bonuses, even though they'd done bu**er-all!!!!!!  |
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Post by MamIDdau on Jan 20, 2009 11:02:18 GMT
I'm only part time anyway but the OH is full time. RM luckily don't really do redundancy although they have been asking for early voluntary retirement and a few people have taken up the offer.
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Post by Deleted on Jan 20, 2009 11:21:19 GMT
WOW!!!
theres a lot of people being hit hard here. i really feel for you all in these hard times.
personally i have no money anyway so im not losing anything.
i rent rather than a mortgage.i have no credit cards and no debts so im not terribly affected.
my money comes in each month and goes straight back out but i dont have extra money or an overdraft.i have no credit at all because i dont hvae enough money coming in each month for anyone to give me credit or loans.
i have a few family members that are struggling though.
my mother owns and rents out a couple of houses and runs a small shop.she needs to sell the whole lot as her health is bad (very bad) and unfortunately now is not a good time to sell. she is going to lose some money but i guess at least her debts will get paid off.
its all a bit overwhelming and scary for a lot of people.
i hope things work out for you susie.
i guess like everything this will eventually pass.
chin up everybody
lots of best wishes to everyone struggling.
Bek
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Post by Weeterrier on Jan 21, 2009 10:15:30 GMT
The world is in a bloody mess, isn't it? I'm not really being affected by the crunch, because I don't have an income in the first place, just living on Dad's State Pension and my £50 carer's allowance. But hearing about everyone suffering, hearing about company closures and repossessions makes me worried for the future. Now the Royal Bank of Scotland is in dire straits, once a global market leader, I wonder what will come next.
This has been decades in the making of course, the generation after me was the first to accept debt as perfectly acceptable and commonplace. Also, young folk cannot save up for things usually, everything is so expensive as to be out of reach without a loan of some kind. The banks have been too keen to lend out money that they knew would never be paid back. So manufacturers could hike up their prices accordingly. A vicious circle of global proportions.
Young folks have to be taught a different way of viewing their life now, and I think it has to be begin in schools with the reintroduction of basic life lessons, like cooking, sewing, woodwork , buggeting etc.
There was a young couple in the queue behind me in ASDA. Their shopping was what could only be described as rubbish. Cheap ready-meals, fizzy drinks and crisps. I wanted to take them home with me and show them how to make a tasty meal.
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