The Impact Of The Recession On Your Money, Savings, And Happiness

11 March 2009

I've lately been thinking alot about money. Why? Because I'm not spending alot, yet I'm finding it hard to save any.

I should point out that I am not a big spender. I haggle shamelessly. I sold my HDTV. I have resisted from many temptations on HotUKDeals. I lurk the woman stamping yellow discount stickers in Asda.

So I can't help wonder how much of not being able to increase my savings has to do with the recession, or just perhaps the cost of living in the UK. I'm sure a big part still has to do with money management skills, but for now, I'm going to blame it on the weather :)

It doesn't help that I'm surrounded by friends with online businesses doing rather well, mostly living abroad in sunny climates, not appearing to be affected too much by the recession. A good few are even telling me to get out of the UK.

Maybe there are plenty of good reasons to stay in this country (or are there?), but the question remains: in view of all that's going on right now, if you had a choice, wht would you do? Would you live and work elsewhere in the world? Do you think about quitting your day job and escaping from a perpetual rat race? And if not, what are your reasons for staying?

Let's hear your thoughts!

TOPICS:   Banking   Economy

18 comments

  • -=Mike H.
    I'm off, we get screwed left right and centre, what's the point in hanging around this POS country? We are a joke.
  • Dan
    I strongly believe that the sun has a massive impact on people's happiness. When i think back to the last few properly sunny days we had - some time ago - you can see the change in everyone's face. I'm in edinburgh and the sun is a rare sight indeed. I have decided that i will move to Australia as i have family there already. The general standard of living seems to better over there and people are friendly. Why live in this cold rip off nation where teens are stabbing/shooting everyone? Where we are charged through the teeth for basic commodities and services like gas, electricity and broadband? In Australia i can live near the beach, maybe do a bit of windsurfing at the weekend or just chill out in the garden and have a BBQ.
  • The B.
    I don't mind the rat race so much, wherever you go you're going to get that if you want to earn a decent salary but this bloody country *insert generic daily mail reader rant here*. Seriosuly though, does anyone have any faith in any of the politicians in any of the big 3 parties? Labour = muppets, Conservatives = wannabe Labour, Lib Dems = dog chasing tail endlessly.
  • toff
    I don't care about this imaginary problem as i'm fukin loaded. You povs should stop moaning and get orf your arses and get some work done, what what Jeeves get the rolls we're orf to Lidls'
  • acecatcher3
    ive never really haggled too well before........how do u do it....do u say a price u know u wont get then work from there.....i tried to get discount on my iphone and guy wasnt having any of it......he gave me a free case for it which he said was £20 so i guess thats something......i dont know how to do it tho properly.......do u pretend that u really like them and ask nicely or do u abuse until they give u discount to get rid??
  • ryan
    I have been thinking about this a lot recently. I know the US are in a hell of a state but being British over there, well, they absolutely love us! So if I was going anywhere I think it would be somewhere in the US. Maybe Chicago. Anyone know the best way of going about it?
  • acecatcher3
    @ ryan check this site out http://immigration.about.com/od/?once=true&
  • Andy
    @toff Nice one. I'm a student, last year my average weekly shop would come to £20 Now its about £40. Couple this in with a rise in bills/rent and a reduction in hours at my part time job (same for most students right now, if not getting laid off), I'd say I'm pretty fucked. 8/10 times I have to forego leaving the house so that I don't have to spend money and end up starving myself for the next week or so. Yay!
  • Boon
    It is really hard to save in the UK, especially if you're living like in London! I do a glance through my bank statements every once in a while... and things like a coffee here (£2), a meal there (£20), tube travel, grocieries, drinks, all seem to add up to ALOT even though individually the amounts are all very small. Even buying lunch during work adds up to alot; I work near Liverpool Street and the average takeaway lunch costs around £5-7, which if you think about it comes up to around £30 a week which if I saved for a year, is a princely sum of around £1500.
  • Clum
    @Andy Where do you shop to spend £40 a week?! I'm a student too and I get by on ~£11 a week for food.
  • Yakkity
    £40 a week on student grub? No way - 14 pot noodles would never cost you that much!
  • Dan
    I agree with Boon. The little few quid here and there really does add up. Paying £2 for a takeaway coffee, although the going rate, is really damn expensive for what the costs are to the vendor. I used to buy lunch from the sandwich man at work - typically a [big] sandwich @ £2.90 and a soup @ £1.35, with the choc bar on the side 2/5 days. Ok, its less than a fiver a time, but thats £25 a week, ~£100 per month, ~£1200 per year. Instead i now use the mini freezer at work to store frozen meals which replace all 3 of the above, and contain less fat etc for those interested. These meals, when shopping wisely for BOGOFs etc, typically cost about £1 each.........saving £20 a week / £1040 per yr. Ok, not big money to some of you high rollers, but for us who need to save a few pennies, the little things really do help.
  • Danielle
    I work and live in London and have been thinking about leaving the city for the past year or so. I agree with what was said about the sunshine making people happier, and I'd happily trade this dreary city for less money if I could work where the sun shines. I'm thinking strongly about America, Australia or just packing it all in and travelling. The city sucked the life from me a long time ago.
  • siemo
    High costs of living? Well, apart from dearer council tax and house prices it's cheaper here in the UK than in i.e. Eastern Europe..
  • bob
    I reckon give up the grey concrete, the rat race and the concrete and move somewhere warm with a better quality of life, even if this means taking less wages.
  • Andy
    I meant bi-weekly, many apologies.
  • nomad
    Yep definitely thinking of leaving... I live in London... have done for over 15 years...and Im thinking WTF...do I really want to live here for the rest of my life...nope...far better to go somewhere with sunshine...maybe less wages...as being as the economy is twattedd and will be for the next 4-5 years and the backlash to come from that in the coming months...i.e peoples rising anger...greedy bastards still not seeing the light I feel sunshine , no rat race sounds good...oh and liverpool street...I work in london bridge...even more expensive...stopped pretmanger months ago... now just got to get saving...
  • Toby
    I just got made redundant so i'm off to Australia on my working holiday visa, see you later Rip-off Britain!!! I don't care that i'm giving up my managerial position to pick fruit or sit on someone's reception, i'm actually looking forward to the lack of any responsibility whatsoever!!! I've already started selling all my stuff, it's really liberating!

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