Feeling 'The Credit Crunch' yet?!

@marina321 (4561)
July 1, 2008 12:23pm CST
It is true that we will all be feeling the credit crunch sooner or later. Homeowners have felt it in the interest rates, motorists have felt it in prices of fuel and in turn shoppers are feeling it in the prices of goods. I had not felt it till about a couple of weeks now where I have noticed the price of food and groceries has gone up. Last two weeks, I have been to the supermarket to buy some groceries and the total cost of the items is mind-boggling to say the least! Went to buy a handful of groceries the other day - the usual bread, milk etc and the total was double what I normally spend and could have done a weekly shop with the amount. At this rate, the budget for everything is going up. We can't live without food so that's a pain... I have heard that people in the third world countries are experiencing high levels of inflation and costly goods. Do you feel your 'purse-strings' tightening yet?! What measures are you taking to cope?
2 responses
27 Jul 08
Most of us will by now be feeling the belts tightening,ive noticed in the supermarkets the prices are rising and in some cases not only by one or two pence,but by twenty or thirty pence on some items.A loaf of rye bread in Lidls has risen in price by around thirty pence.The caged hens eggs are rising in cost,and yes I would like to buy free range eggs,but when here in the UK they are around one pound sixty pence for six thats not an option.The milk prices have shot up ,and im forever hunting for a reasonably priced cheese.But I am sure that we all have ways of coping and try to put plans into action on how to cut back on expenditure,those that maybe will find it very hard are the fsamilies that have been o very high incomes,and they now have to go back to basics,and that is going to be hard for themI have lived frugally for the biggest part of my life,so for me the cutting back p[rocess comes a bit easier.
@marina321 (4561)
27 Jul 08
So true about prices in the supermarkets! The price of meat is unbelievable! I am glad we'd switched to eating more pulses and lentils before the rises started so we're eating more of beans , chickpeas and the like..Eggs are ridiculously priced too, I too would like to buy free range but can't afford it however delicious it might be. I am in the UK too and go to Morrissons and Sainsburys that are near me and we also have a Nettos so I go to that one more regularly now.. if I could drive, I would try to have a good look around for better prices but doubt its much different elsewhere.Speaking of driving, I may not be able to afford to that for a while..
• United States
7 Jul 08
Yes I do. The challenge I've noticed most is the difficulty in keeping up car payments, insurance and gas costs. Recently I had to make a decision to give up my car. Luckily I'm in an urban area where I can depend on the busline. I advise young people to go easy with the credit cards. They build up fast. If you're prepared with a backup career plan, that takes alot of stress off you. I'm a baby boomer so I've seen alot of economic ups and downs. Keep up that 401K no matter what. Becoming a grandma happens in a flash.