The credit crunch ?

[col]

I mean for the whole household, that's not just my snackage bill col!

I still think its a lot unless there are quite a few of you?

 

[Smeggers]

I still think its a lot unless there are quite a few of you?

About £200 pw sounds about right here.

 

[GrahamG]

I can see my rent going up at some point but otherwise I've not really noticed any huge increases. I fill the car up with petrol so infrequently that I forget which side the filler cap is on, most food shopping is done in dribs and drabs by bicycle on the way home from work and our flat has no gas so we're used to being absolutely shafted for electricity bills after the winter!

Oh, and I'm yet to see any of my savings get an increased rate in line with the cost of borrowing.

BoE base rates are going to have to go back up to counter inflation, the media and the public are losing sight of the fact that the base rate is not set according to how easy they think it should be to get a mortgage, the borrowing binge is over now.

 

[domtyler]

I still think its a lot unless there are quite a few of you?

You might be right, I have to admit that I don't have the faintest idea how much we spend as my missus does the food shopping, it sounded roughly accurate at the time though. I've started doing a lot of bulk shopping at Costco now anyway which tends to save a shed load on stuff that you always need, tinned toms, cleaning stuff, beers and wine, stuff for the freezer and so on.

 

[Plax]

Thankfully I only have a small mortgage left and it is currently at a fixed rate until June. No doubt that is when it will hit me in the pocket the most. It isn't as easy to get a decent fixed rate deal etc anymore.

The only other things I've noticed is electricity, petrol and bread. I'm sure there are more food items that have gone up, but for some reason I only seem to have noticed how expensive the bread has got!

I have managed to reduce petrol expenses by cycling a lot more, and I suppose I've kind of offset the electricity and food increases by getting my mobile free for 10 months (threatened to leave and go PAYG so I suddenly was in £300 credit which is 10 months of my tariff). Also cancelled SKY and went Freesat instead as I never watch it anymore. Downgraded my current account to just a Classic Plus account so am not paying a monthly bank charge anymore. I guess I'm better off financially at the moment than I have been in a long time. Obviously all that will change in June when I'm stuck on Halifax's variable rate. I better start rate shopping now!

 

[gbb]

There was nothing wrong with 100% mortgages, they suited everyone a few years ago.
I could borrow the full amount, knowing (within reason) that property prices were at worst static, at best on the up.
Banks didnt mind lending for the same reasons. Comparatively small risk to them and the customer.
It also drove along the housing market in general...that benefitted us all at the time.

But that's not the case now. It seems quite prudent not to offer 100% when prices may well drop in the near future...that's financial suicide.

I do sympathise with first time buyers...it seems impossible right now. I am very very lucky i realise.

I remember when i re-arranged my mortgage (a paltry £20KD..speaking with the advisor.
I asked how on earth people dont sh1t themselves at the prospect of £100K to £200K plus....her reply was some people will sell their soul and damn the possible consequences. They ( the Building Societies) knew that some borrowers are pushing way beyond their limits...but what do you do, she said. If we dont lend it...someone else will.
Those borrowers must be up sh1t creek now.....

 

[Arch]

I still think its a lot unless there are quite a few of you?

£200 a week on food certainly sounbds a lot to me - I haven't calculated but I think on average I maybe spend £15-20 a week on food? £25max, unless I'm doing something really special. Hard to tell, as I get some stuff bulk, so it's a bigger outlay, but only once every few months...

I know that's only one of me, but even multiplied by 4 or 5. Mind you, I very rarely buy snacks or crisps or much preprocessed stuff, so that keeps the cost down.

Still, in the last few months a tin of basics chopped tomatoes has gone from 19p to 24p - so that's a *counts on fingers* 25% rise?

 

[Smeggers]

£200 a week on food certainly sounbds a lot to me - I haven't calculated but I think on average I maybe spend £15-20 a week on food? £25max, unless I'm doing something really special. Hard to tell, as I get some stuff bulk, so it's a bigger outlay, but only once every few months...

I know that's only one of me, but even multiplied by 4 or 5. Mind you, I very rarely buy snacks or crisps or much preprocessed stuff, so that keeps the cost down.

Still, in the last few months a tin of basics chopped tomatoes has gone from 19p to 24p - so that's a *counts on fingers* 25% rise?

Eeek - I spend £25.00 a week just on alcohol and that doesnt include going out either!

Washing powder, dishwasher tablets, baby food, nappys plus a certain amount of convenience food as we both work [more than] full time means I would be quite confident in saying our shopping bill is £200 pw.

 

[ChrisKH]

Eeek - I spend £25.00 a week just on alcohol and that doesnt include going out either!

Washing powder, dishwasher tablets, baby food, nappys plus a certain amount of convenience food as we both work [more than] full time means I would be quite confident in saying our shopping bill is £200 pw.

Ditto, and I don't even drink. That's for four of us. My eight and five year old are like Hoovers. Having said that we eat an enormous amount of (much of it exotic) fruit, veg. and quality foods.

 

[Arch]

Eeek - I spend £25.00 a week just on alcohol and that doesnt include going out either!

Washing powder, dishwasher tablets, baby food, nappys plus a certain amount of convenience food as we both work [more than] full time means I would be quite confident in saying our shopping bill is £200 pw.

I have convenience food - in the 15 minutes it takes a pan of water to come to the boil, and my pasta or rice to cook, I've made the sauce to go on it

And it always tastes nicer than anything microwaved. And costs, well, for the average spag bol, probably a pound for enough for 1 and a bit portions (which I either eat all at once or I have the 'bit' for lunch the next day).

 

[Kirstie]

Like most people the main thing which has affected us is electricity and fuel prices. Its chuffing ridiculous actually... I've not really noticed a change anywhere else so far, but we live fairly modestly. Apparently I have a huge mortgage compared to some people here, but have all the right insurance etc if anything goes wrong. Unfortunately being married to someone who is self employed means that I will never have access to decent interest rates on mortgages. Having said that we've got no problems paying ours. Interestingly many of my other halves work colleagues have missed mortgage payments because of cash flow problems in their businesses...

 

[Smeggers]

I have convenience food - in the 15 minutes it takes a pan of water to come to the boil, and my pasta or rice to cook, I've made the sauce to go on it

And it always tastes nicer than anything microwaved. And costs, well, for the average spag bol, probably a pound for enough for 1 and a bit portions (which I either eat all at once or I have the 'bit' for lunch the next day).

Cant disagree there. Its not so much the lack of time re. convenience food (and that includes not arriving home till 8.00pm after a 14 hour day), its the lack of mental capacity! I think its human nature to take the soft option innit?

 

[Arch]

Cant disagree there. Its not so much the lack of time re. convenience food (and that includes not arriving home till 8.00pm after a 14 hour day), its the lack of mental capacity! I think its human nature to take the soft option innit?

well, that's quite true, and I'd be lying if I said I always had a fully balanced home cooked meal - I've been known to resort to instant noodles in a cup-a-soup sauce

 

[Smeggers]

I've been known to resort to instant noodles in a cup-a-soup sauce

Sounds like one of Delias current recipes!

 

[Arch]

Sounds like one of Delias current recipes!

I could out-Delia Delia when it comes to cheating, easy - I'm afraid she's lost it a bit...