What cut backs are you making during the crunch?

12:53pm Tuesday 30th September 2008

By Vicki Foster

With the economy at an all time low, you can't go anywhere these days without hearing about the latest special offers, be it food, savings, clothes etc. I want to know what you're doing to help beat the big squeeze...

Being the young, free, 21-year-old that I am, I have to admit I'm not that stressed about the state of the economy, well when it comes to my personal finances that is.

I've been working since I was 15 years old, so I've been used to paying my way for quite a few years now, not rent, but just in general, for example buying my own clothes while my friends still relied on their parents.

Since starting at The Newshopper, I have been paying rent, a minimal amount compared to my colleagues, but still quite a big chunk.

I have one debt which I recently embarked upon and that was a loan to buy a new car, a MINI Cooper, which I am now slightly obsessed with when it comes to wanting to customize and modify it.

Every month I have my rent and my loan to pay for but that's where it stops.

After these payments I am safe to save (which I am managing), put petrol in my car, buy clothes, go out etc and generally be a care-free 21-year-old.

But the thing is, I'm not care-free. I'm financially stressed.

I don't go out much, I don't buy new clothes every month and I haven't as yet bought anything for my new car and yet I am struggling.

Every month I end up wishing the pay date was a little nearer.

How are you coping with mortgage repayments? small mouths to feed? and petrol to put in your car?

The only change which has really affected me is petrol prices, where as it used to cost me around £30 to fill up a tank it now costs around £50.

Obviously the car I now have guzzles more petrol (which I knew before buying it) but even before I sold my old car it cost me around £45 to fill up the tank.

Are you worried about your job? losing your house?

What are you doing to save money? what are you cutting back on?

What special deals have you spotted? yoghurts? bread? milk? etc

I have to say my biggest money-cruncher is going out to eat with my boyfriend.

I really enjoy this and go to restaurants way too much!

We have started to be more cautious where we go to eat though, for example, on Sunday we were in Greenwich.

We purposely looked for somewhere cheap to eat and we found a little noodle bar which served huge dishes of noodles for only £4.50!

I had noodles with seafood (and I couldn't eat it all because there was so much!) it was a bargain and was lovely!

The most expensive dish was noddles with duck for £5.50!

I can't tell you the name of the place but it is near the Cutty Sark, on the right hand side on the corner of the road which leads away from the boat.

It's bright yellow and opposite a shop called Nets and the City (the name did make me laugh).

How is life for you? what changes have you made to your monthly outgoings? and what advice do you have for other families?

Are there any recipes you have found which make great food for little money? any DIY face masks which make you feel fabulous but are a fraction of the price of other ones?

I want to know what wacky ideas (but practical ones) you have come up with which are helping you to save money.

In fact lets make this a regular thing, every week I will write a blog with a theme.

The blogs will focus on anything which affects our lives, for example, bread, shampoo, scarfs etc.

And I'm hoping you guys will tell me what your favourite (money saving) products/recipes/special offers you've spotted etc relating to the theme I choose.

Have you found a new shop springing up in your area which is selling original hand-made Indian scarfs on the cheap? a new product which is being launched half price?

I want to know ANYTHING which is helping to save you guys money on things you want and things you need.

My first tip is to not drink bottled water.

Bottles (unless recycled of course) take years to bio-degrade and the water out your tap in this neck of the woods is hard, which is pretty good for you.

I use a water filter which also makes it taste extra clean.

So go on, grab an empty bottle and re-fill it every day, that way you save money and help to save the environment!

Tell me your ideas!

Vicki