Recession

[Pinchy]

The BoE recently scrapped the high interest stress test on mortgages. That was there to stop people borrowing based on today's and not tomorrow's interest rates.

The mortgage industry says not to panic as their income ratio tests are sufficient to avoid any future problems.

The BoE sat on it's hands for years whilst inflation crept above the target maximum.

Now they act.

[mickeyspal]

Originally Posted by Mr Tom Morrow

Daughter and her Family currently in Brighton. Cod and Chips from the Chip Shop for 4 people £50. Dear God!

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£50 😳 for fish and chips , it used to be a cheap meal not long ago, glad we only have them about once a year

[mickeyspal]

Just seen an advert for Yorkshire wildlife park, it also thing like this that will suffer , no money for days out , no visitors to the park but staff still need to be paid and the animals fed, they struggled through covid because of no visitors

[Guest]

Originally Posted by Mr Tom Morrow

Daughter and her Family currently in Brighton. Cod and Chips from the Chip Shop for 4 people £50. Dear God!

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It’s everywhere Tom. Paid £4 for a single scoop of ice cream in a cornet yesterday for DGD. We’ve pretty much got her solid for the next 4 weeks, days out are costing a fortune, I feel sorry for families with multiple kids on a tight budget.

[Mr Tom Morrow]

Originally Posted by Nanna Frozen

It’s everywhere Tom. Paid £4 for a single scoop of ice cream in a cornet yesterday for DGD. We’ve pretty much got her solid for the next 4 weeks, days out are costing a fortune, I feel sorry for families with multiple kids on a tight budget.

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We had our Grandson 2 weeks ago for a week and have the Granddaughter from Sunday for a week. I have mentally 'boxed off' £125 in diesel and another £150 for sundries. Plus food on top of that.

Granddaughter keeps reminding me she likes steak!

[MarkUK]

They’ll be no pent up holiday demand next year that’s for sure.

Worrying times ahead for the majority. I signed up today to not paying fuel bills and cancelling my direct debit which is growing in traction.

[Lisa123wm]

Originally Posted by Nanna Frozen

It’s everywhere Tom. Paid £4 for a single scoop of ice cream in a cornet yesterday for DGD. We’ve pretty much got her solid for the next 4 weeks, days out are costing a fortune, I feel sorry for families with multiple kids on a tight budget.

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We were at the Commonwealth Games on Tuesday. £17 for 2 breakfast baps (1 was veggie) and bottle of water 🤔
£4 for a coffee too - though tbf, it was better than Costa 😆
Normally I’d have a little drink at these kind of things, but at £9 for a Prosecco, I didn’t bother.
The amount people were spending there on food and drink was eye watering.

As for fish and chips, I always go for mini fish. Our local does a special - mini fish, chips and peas/curry sauce for £5.50.

[pompeyboy]

Originally Posted by MarkUK

They’ll be no pent up holiday demand next year that’s for sure.

Worrying times ahead for the majority. I signed up today to not paying fuel bills and cancelling my direct debit which is growing in traction.

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Got any other bright ideas, maybe cover your number plate and drive off without paying for your petrol.

I'll expect to see you with a glum face on some newspaper under a headline like "I got hit with a £3,000 bill for my gas...it's not fair".

My old Dad said when I moved out, "the 1st priority is your mortgage, then your bills and whatever is left is your to do what you want with"

A strategy that served me well, even with 15% mortgage rates, 2 young kids and just my income, and a bit of family allowance

[Pumpkin Pie]

Originally Posted by Mr Tom Morrow

We had our Grandson 2 weeks ago for a week and have the Granddaughter from Sunday for a week. I have mentally 'boxed off' £125 in diesel and another £150 for sundries. Plus food on top of that.

Granddaughter keeps reminding me she likes steak!

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Sounds like my two. They eat non stop and request things like salmon - no fish fingers for them!

[Moorlandman]

Originally Posted by pompeyboy

A strategy that served me well, even with 15% mortgage rates, 2 young kids and just my income, and a bit of family allowance

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The days when a house could be purchased with a single income.