It's Crunch Time (How has the Credit Crunch affected you?)

Member Name: jensibobs

Product:	How has the Credit Crunch affected you?
Date:	07/01/09 (36 review reads)
Rating:

Advantages: Stops you spending money on things you dont really need

Disadvantages: It can be depressing knowing that you cant afford to buy things you would like too.

I think this is a sore subject for many people and i know how this has effected myself family and friends and 2008 was a hard year money wise.

My problems started when i got back from holiday - my sister had got married in Greece however i made the mistake of withdrawing some money out the bank whilst over there which resulted in going overdrawn and recieving a £30 over draft fee!!.

I bank with Barclays and soon as i can i am going to change banks (i'm just starting to claim my changes back so dont want to change just yet till i've finished this process).

I dont particularly have a good credit rating - from my younger days when i first moved out i still wanted the life i did when i lived at home and this has come at a cost which i've learnt from but still paying for as a result.

Anyway my bank would help sort out a tempoary overdraft for me even when i was crying down the phone cos i had no idea what or how i was gonna get out of being overdrawn and stopping the charges - after speaking to around 5 people i finally manage to sort this out.

Luckily i have now paid back all the charges and and no longer go overdrawn unauthorised - i have a capped overdraft limit of £10 and i prefer it that way!!

Where as i do still struggle and it is depressing being skint i have now booked an holiday to florida this year and hopefully all the money saving tips i've got from money saving expert website will help me pay and save spending money for this fantastic holiday (i only save a set amount from my wages each month into a credit union).

Another tool i've used is to monitor everything i spend. My sister uses a note pad which she carries everywhere - where as i use a Microsoft Excel Spreadsheet that records my income, my regular expenditure and additional expenditure so i know excatly how much i have left throughout the month. It also helps me plan ahead.

This is something i urge you to try - it may help you see where your moneys going and possible may save you money.

If you would like a template of this spreadsheet, please get in contcat and i will be happy to email the template to you.

Summary: It's been a hard year for everyone in the world of money