Has the credit crunch started to hit your wallet?

I've cut back my spending on luxuries
32% (22 votes)
I'm spending as usual
42% (29 votes)
I'm really feeling the pinch and have made some major cutbacks
10% (7 votes)
I'm not cutting back but I have put some major plans on hold
16% (11 votes)
Total votes: 69

Your Comments

Im still spending the same amount of everyday stuff but have decided against putting in a new kitchen - yes it will add value for my house but seeing as I'm not going to be able to sell any time soon I might as well wait. Will put the money I would have used into a ISA for a rainy day.

Older Not Wiser!
Sorted out some shares CGT before the 5th April deadline. Economising on car use and use bus pass ( free ). Changed energy suppliers. Save not spend.

In February 2003, my wife & I made a decision to focus on paying off our mortgage which had been hanging around our necks for 10 years by that point. We paid as much as we could into our mortgage each month over the next 4 and a half years and finally, in Summer 2007, we made the final payment, ironically on the same day as the Credit Crunch headline appeared on the front cover of The Times.

For us, because we were used to a frugal lifestyle before the Credit Crunch (as we were piling as much money as possible into our mortgage account rather than spending it on 'stuff'), we're pretty much now spending the same as we did before, i.e. not a lot! but not to the extent that we don't know how to live or enjoy ourselves - we allow ourselves the occasional meal out or weekend break away.

The important thing to recognise is that a lot of the time, people don't need to spend money - it almost becomes a habit which can easily be broken by investing time & energy elsewhere (with the added bonus of decreasing the amount spent each month on 'stuff').