the recession

[brocknbillysmum]

I'm curious who Is worried or feeling the effects of the recession?
Do you think the media are making it worse?

Our situation hasn't changed, my business is still going n I have plans to grow it this year, my DH still has his job. -although there has been cutbacks around him, we r no better no worse of than we were a year ago. Feel like if i listen to the media I should plan for it all to go bust

How do you remain positive and optimistic when everything coming at you is doom n gloom ?

My plan was to turn of tv n reading paper but it's still getting through

Shelly

[jag5000]

for us.... so far so good, no change. If anything we are getting better.
not the case for a lot of others tho' :( .. we are very lucky

[Chunkydunks]

i think the only way DH and I are going to feel it is if groceries increase but staples actually got cheaper during the last recessions. DH is on DSP and I'm on PP so we're not going to lose our income any time soon which is a bonus.

[LilShenanigans]

Im with CD on that... although, I could feel it in petrol. I havent visited family for a while, and vice versa. Of course if they lose their jobs, then it's near impossible really.

I am seeing affects with friends.. slow work, no work, but Im pretty sure they all still have jobs - at this present time.

[patsmum]

Superannuation is where you will see it the most. I have lost a lot of money as has my partner and a lot of friends.

Jobs are short, we are not personally effected, but have friends who are.

The way the world works everything will go back up eventually, there is too much demand for it not too.

But yes media is no blame, as they always over do things.

[jaq]

Given that the media (particularly the print media) is the classic early indicator of a worsening recession, maybe its easier to understand why the papers aren't optimistic?

More than 5000 journalists have lost their jobs since Christmas ... business feel the pinch, cut their advertising budgets, and journalists are let go. Usually about 6 months prior to the rest of the economy feeling the pinch.

Demand is already contracting sharply in most industrial sectors - I know a lot of chemical engineers (being married to one) and big projects are being funded down, or tenders put off, or cancelled. Many engineering companies have complete job freezes on, and some are firing already. More contracts fall through, and more people will be fired.

If my husband loses his job (unlikely, but always possible), we won't be getting the fence fixed, we won't be going on holiday, I won't be buying much for the girls birthdays, Nick doesn't get any new bike gear ... that's called demand. And it is spiralling downwards in a BIG way ... which is why we ARE going into a recession.

OP - if your business isn't affected, you are lucky. Or perhaps you won't grow it as quickly as you expect, or your clients will go bellyup and cancel orders or payment ... not wishing it on you, but it's not wise to ignore the possibilities, either. May you continue to buck the trend!

[alias273]

I am feeling it badly, I can't find a job and didn't have one to lose before the recession started. My boyfriend is about to lose a few hundred per week and maybe even his job since his in manufacturing industry. My phone bill costs more than is in my account, I have maxed out my credit card and have a car insurance companying hassling me for $800 immediately. Ontop of that we can barely afford food etc and this is with maximum government assistance we can get. I feel so overwhelmed with debt and depressed right now Im not sure if where gunna have a car, food, or anywhere to live by the end of the year.

[Me]

We're feeling it in the sense that DH is self-employed and where customers were previously only a few weeks overdue with accounts, they're now blowing out to months overdue in some cases which then effects when we can pay our bills and when we can pay ourselves. IMO I think a lot of business' have freaked out and stopped paying money out which has the flow on effects down the chain then. If they kept on with business as usual, ie still going with the necessities just cutting back(not cutting out completely) on luxuries(unless they really couldn't afford them) then everyone would still be doing pretty ok.

[bada]

I can't say we are feeling it.
DF is in sales and is earning a lot more money in the last few months which is strange. I count ourselves very lucky, for now.

[Me]

I am feeling it badly, I can't find a job and didn't have one to lose before the recession started. My boyfriend is about to lose a few hundred per week and maybe even his job since his in manufacturing industry. My phone bill costs more than is in my account, I have maxed out my credit card and have a car insurance companying hassling me for $800 immediately. Ontop of that we can barely afford food etc and this is with maximum government assistance we can get. I feel so overwhelmed with debt and depressed right now Im not sure if where gunna have a car, food, or anywhere to live by the end of the year.

Sorry to hear you are feeling so overwhelmed atm. I'm pretty sure centrelink have financial advisors who could help you to sort out some payment plans to get on top of your debt(and stay on top). It won't be easy and it won't be fast, but it can be done.

First thing I would look at doing is seeing if you can pay your car insurance monthly - but be careful because some places charge you an extra 15% for this 'service', that way you don't have to come up with $800 immediately. Ask the phone company if you can pay $X per week until it's paid and then rationalise the rest of your bills that way.

With your credit card, if possible, try to pay your bills with your credit card and put the cash in there, that way you are 'turning over' the money on the card and reducing the interest(by renewing the interest free period), but you need to be extremely disciplined if you are going to do this. I would recommend taking your credit card out of your purse so that you don't get tempted to buy 'just this 1 small thing'. Another option is to cancel your credit card and work towards paying off the balance(I'm sure your bank will be able to advise how to do this). If you need a credit card facility, perhaps look into either a visa debit card or a prepaid visa card(although some places don't accept prepaid visa cards, so just check where you are wanting to use it before hand).

Best of luck, it's not easy to get on top of debt when you feel overwhelmed, but it is definately worth it when you're done!

[SimplyMum]

I'm not feeling it as in loss of money or anything- I am feeling the anxciousness of the wider wommunity though.

I work in local government so I'm about as safe as I can be.

I'm actually trying to look on this 'recession' as a positive for myself and DS. I am trying to freak myself into paying off the credit card and building up some savings.

[Issey]

yes feeling it. I work for a small business and it is VERY quiet and we are running out of money as not much work is coming in so we will all have our hours cut. This is going to affect me alot being a single parent and I am reliant on the hours as I only work 3days as it is.:crying:

my b/f got retrenched in October from the finance industry and he is driving taxis (poorly paid - 1/3rd of what he was getting before) to bring in some income. His investments have gone bad also but centrelink won't consider that so there is no help there as they declined his application.:mad:

My ex DH also got retrenched but has found other work but again is a lot less money but you have to take what you can get atm.

[Knocked_for_six]

Thankfully we aren’t feeling it as some are. My husbands job is quite secure which give me peace of mind however our stocks are awful, I know it only ‘on paper’ and as such we will only lose if we sell now, but it is disheartening as for the most part the money from them is for our children’s education and a few overseas family vacations when they are older, I just hope and pray the markets turn around especially as DH insisted in investing more while the market are low in the hope they will pick up:fingerscrossed:. And superannuation, I am not game to look or ask DH what his is at the moment.:o

My Mother however has been hit quite bad by the current markets as she works in real estate, and has had to change agency three times in the past 6-mths because of lack of business, agents closing and merging!:(

I do however try to do my bit to help; we now only buy our fruit and vegetables from the local green grocer and meat from our local butcher, visit local hairdresser etc as it not nice seeing long time family business having to close or put off staff!:no: