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Charlie Don't Surf

Have You Been Affected By The Recession?

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I was just wondering, and to help get a gauge on likely public sentiment, what people's personal experience of the 'worst financial crisis in 70 years' had been thus far.

I have increased my income by around 25% , which has been cancelled out by having a baby and being on one income.

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Voted No.

I have had no problem securing work since 2007 - currently on third contract. Bar one person who bought a white elephant on the palms I don't know anyone who is losing. I'm sure they exist somewhere though.

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Took to opportinity to leave work (unix contractor) to become a professional gambler.

Making more money and not having to scrape around for work.

Also, buying more stuff, simply becasue it's cheaper!

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Dont know anyone who is out of work as a result of the recession although a few IT contractors i know were forced to take 10 to 20% rate cuts.

Reduced interest on the cash in my business account has been offset by the massive savings on my tracker mortgage.

Edited by Mammon

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As odd as it sounds, there should be a choice that allows the impact of the recession to be positive :

- Things are cheaper.

- Savings in stores of value apart from Sterling have risen.

- Less congestion on the roads.

- Less overcrowding on public transport.

- Easier to get tables in restaurants.

- Etc etc

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Voted badly due to losing circa £5k per annum in interest and dividend payments.

Grrrrrrrrrrrrrrrr

Voted moderately for same reason. Down £2k a year in interest.

Got more work than i can shake a stick at the moment tho am doing less, due to imminent tax armageddon and cutting cloth accordingly.

Im afraid i dont see the rampant discounting of a year ago. I think we're past that.

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I voted for option 2, a couple of people have been made redundant at work might not sound significant but that's 15% of the work force.

Also I "work" at a business my friend runs at weekends. It's been running for about 5 years and year on year it's been getting busier and busier. Last year was a massive success and we were fully booked up most weekends at our traditional busy period spring and autumn. This year it feel off a cliff and had virtually no business at all. He doesn't do much advertising and a large part of it is word of mouth and repeat business, last year people just kept coming back, this year there has been hardly any repeat business and people who came last year haven't been coming back.

Nothing about the business has changed other than the fact people are keeping money in their pockets.

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Guest Parry aka GOD

No, but I know plenty that have.

I wish the recession would hurry up and start for me, I've plenty more planting to do and and I want to change some of the colours in the house.

Should have sufficient now for the next 3 years. But Black Swans and the like . . .

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income has been down about 20% to 30% this year overall. mainly due to reduced M&A activity and in short - no uplift on fees for a successful deal and basic fees are down due to a flood of people in the market willing to do the work for a lot less (though, IMO of course, not as well). As such, decided to diversify and shift and it means retrenching. I expect that trend to continue (if bottom out) during the course of the next 12 months.

Though, given I have done not much more than half the hours then it's probably not a bad thing overall....

missus (who works for an I Bank) has seen a very busy year, bonuses were stable in 2009 (whatever you read) and are looking up for 2010. She's had about a 20% rise in remuneration (inc effect of bonus) in 2009 versus 2008, but that's been individually based (mostly) rather than on market recognition.

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Think you need to add another option.

Yes. Have done extremely well out of the recession.

For those posters who sold the market short, bought some shiny yellow stuff at the right time. ;)

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