Are you feeling the recession yet?

NathanE · 31 May 2008 at 14:42

I can't explain it but I seem to be saving a lot recently. I just don't feel like spending my hard earned on "pointless" things. Quite strange because even back in Jan/Feb I was still spending quite a lot. It seems that if enough people convince you there is a recession then you start to just accept it and change your behaviour to suit?

What about you folks?

[TR]SweetSpotOz · 31 May 2008 at 14:44

Ben M · 31 May 2008 at 14:44

Isn't people not spending through anxiety over the financial/economic situation, actually going to make things worse?

MikeHunt79 · 31 May 2008 at 14:47

I'm also going out on the town less than I used to but I think this is also because I'm getting old (as well as the captain crunch thing)

NathanE · 31 May 2008 at 14:49

Ben M said:
Isn't people not spending through anxiety over the financial/economic situation, actually going to make things worse?

Yup

Caseh · 31 May 2008 at 14:50

Im spending less money, purely because i have less money.

Jotun · 31 May 2008 at 14:51

My spending behavior has changed, but only due to changes in my personal circumstances.

aardvark · 31 May 2008 at 14:51

Ben M said:
Isn't people not spending through anxiety over the financial/economic situation, actually going to make things worse?

not really - its a bit of a fallacy that we have to spend all our money to keep the economy going - thats why we are in this mess to start with - we need to adjust to a producing, saving economy rather than a debt fueled spending economy. People will have to change their lifestyles, and thats a good thing imo.

NathanE · 31 May 2008 at 14:52

[Cas];11794114 said:
Im spending less money, purely because i have less money.

That's not your fault though probably. Inflation, petrol, and energy prices are eating into (or have completely eaten away) people's usual disposable income.

Substance · 31 May 2008 at 14:54

I'm actually spending more and more at the moment, just keep finding things that i need/want

Adz · 31 May 2008 at 14:54

The current economic climate hasn't affected me in the slightest but I've always been pretty frugal - I don't spend money on anything unless I can see a clear benefit (even if that's just a few hours enjoyment).

I can't see the point in working your backside off only to squander your rewards. You might as well just work less and have more free time.

Caseh · 31 May 2008 at 15:00

NathanE said:
That's not your fault though probably. Inflation, petrol, and energy prices are eating into (or have completely eaten away) people's usual disposable income.

It's mostly due to me taking a huge Wage-Cut so i can go back to College

Duke · 31 May 2008 at 15:01

Not at all. I think the media seem to be making a lot out of it, as per usual.

Glaucus · 31 May 2008 at 15:02

markyp23 said:
Nope. Not one bit.

All my loans are fixed, my job's secure. So apart from a slight hit with price rises like fuel. t has made no difference.

RockLobster · 31 May 2008 at 15:09

NathanE said:
I can't explain it but I seem to be saving a lot recently. I just don't feel like spending my hard earned on "pointless" things. Quite strange because even back in Jan/Feb I was still spending quite a lot. It seems that if enough people convince you there is a recession then you start to just accept it and change your behaviour to suit?

What about you folks?

I feel exactly the same I'm not short of a few bob but I really am watching my money these days. These days if I buy something I look at in terms of how many hours I would I have to work to pay for it when you look at like that it makes you wonder.

Doonhamer · 31 May 2008 at 15:13

[Cas];11794167 said:
It's mostly due to me taking a huge Wage-Cut so i can go back to College

I feel your pain, sucks after having a full time wage.

Cyanide · 31 May 2008 at 15:20

I'm spending less at the moment because price increases in the essentials (fuel, food etc) has hit my disposable income somewhat. I doesn't bother me too much though as it was mostly spent on crap I didn't need anyways

Solari · 31 May 2008 at 15:25

RockLobster said:
I feel exactly the same I'm not short of a few bob but I really am watching my money these days. These days if I buy something I look at in terms of how many hours I would I have to work to pay for it when you look at like that it makes you wonder.

Ditto. I am saving about 60% of my monthly wage and living off the rest. Anything left over goes into savings as well. Just seems the prudent thing to do right now and I've cut out nights out uptown almost completely.

JBuk · 31 May 2008 at 15:52

im not spending any different really, i save a lot anyways and only buy something if i have the cash saved up seperate to my savings account

Lunatic Dreyfus · 31 May 2008 at 16:11

Apart from the lunacy of petrol prices at the moment, no.

As far as I can tell my job secure, and lately Royal Mail have been happy to throw money at me. My credit cards are all settled, and my one loan can be settled at a time of my choosing. And is this a recession? I know the Yanks are going through a 'severe economic slowdown', but surely the media would be excitedly screaming 'recession' from the rooftops if we were being flushed down that particular pan.

Indeed, as a result of my debt clear out I'm actually better off than I have been in years. Just like people at the top of the pile who a) caused all this, and b) who are reaping the rewards of all this economic mayhem.