This whole credit crunch thing scares me! (How has the Credit Crunch affected you?)

Member Name: kiss_me2070

Product:	How has the Credit Crunch affected you?
Date:	09/01/09 (190 review reads)
Rating:

Advantages: Nothing

Disadvantages: Loss of job, Hard to live, No income

Over the past few months we have all seen how the credit crunch has affected not only us, but large retail stores and companies as well.

After years and years or Trading we have seen that Woolworths have finished for and in my local town I have never seen so many closing down sales. Everyone has been hit very badly and I think everyone is suffering.

I have been in my job training to be a PA for an It company for about 5 months, december was a really bad month and I wasn't paid on the correct day, this was due to finanacial struggle which also meant I couldn't pay bills on the dates I needed to, so I got bank charges and other things!

I was told yesterday that january we are doing ok and there will be no problems with my wages at the end of this month but I have been warned that they are not sure whats going to happen over the next few months from february as they are struggling with the credit crunch.

We've had a lot of our clients cancel their services or a lot of clients have gone into liquidation so some of them have been unable to pay over-due invoices and other costs. Some companies we have been told don't even exist anymore so we have had to write off invoices therefore loosing us money!

I have started looking for a weekend job already and am keeping my options open for full time work as well, as I wouldn't be able to live with no job. How-ever I have been looking every day for different kinds of work and there just isn't any jobs out there! I managed to hand in just 1 CV into shop yesterday for weekend work. No-one can afford to take on staff!

I have to admit that I am VERY worried about loosing my job, and I'm sure some other people feel the same way as well!

I live with my parents and they too are experiencing financial difficulty which causes arguments in the house and bad atmosphere's. My dad is a private taxi driver and there's been a lack of work over the past month. My mum only works part time so doesn't bring in enough money to cover the costs of all the house-hold bills and I don't have a huge amount in savings either to help them out!

It's got to the stage in our house where we can only shop for the essentials such as bread and milk and other neccessary products that we need.

I've had to cut down on a lot of things such as buying lunch. I now bring in my own lunch to work as its far more cheaper and saves me money. I've never owned any store or credit cards luckily so I dont have those to pay off.

I tend to go out every weekend with my friends and I can easily spend £30-£60 in one night! Now we have a few drinks at someone's house and we eat there and go straight onto the club rather than drinking in bars or other pubs. This saves us a lot more money. We also now go out once a month and have dvd and girly night's in, this can save me about £60-£100 a month . . it's mad!!

I'm being sensible and have actually joined up with survey sites and review sites, anything to earn some extra money which all gets pt to one side and kept for emergencies. I've also been putting extra money into my savings account just incase anything does happen.

At the moment I have to say that the credit crunch hasn't effected me to badly, I just hope things will get better where I work and I won't end up lossing my job otherwise this credit crunch will have a huge effect on my life!

This whole credit crunch actually scares me quite a bit, some people are struggling to live and survive. Every-time I get the bus into my local town for work, more and more shops seem to be closing and left empty for months! I can't even begin to imagine how its going to be in a few months. They say things will get better, but at the moment I can't see things improving!

Summary: The credit crunch has caused a lot of distress and unemployment!