How has the world financial crisis affected you personally?

We bought our house in December last year and fixed our rate for 3 years. Even with the rate cut we are still in front. I honestly don't think anyone could have seen this coming.

 

huh?.... financial crisis...... i work nights, so i dont see tv or read much of the papers.

 

I buy alot of my collectable items from over seas (mainly England and US) and with the AU$ changing, it's costing alot more to get these items :bang:

 

I work days but yeah I only know there is a crisis and the dollar is changing...dont know anything else, it isn't really concerning me :S

 

I hope interest rates don't drop before my term deposit is due for renewal in December. I was hoping that house prices would drop so it would be worth buying a house to rent out. At the moment house repayments are more than you can recover in rent money down here so it is not worht buying an investment property.

 

Would be a very good time to buy shares in one of the major oil companies. I'd take a guess and say our home has lost $30,000 in value but I don't really care. It's not an investment property and we're here for the long term.

 

WAS gloing to add this to M's thread, here will do. A bit of history.:-

From Whirlpool forum, an interesting post:-

WELL, actually its NOT GWB's 'fault' per se, - from the NY Times in 1999:

http://query.nytimes.com/gst/fullpage.html...8260&sec=&spon=

Bush proposed pulling the lenders into line in 2003:

But it was opposed by Democrats. Here's Barney Frank (Dem) in reply:

http://query.nytimes.com/gst/fullpage.html...agewanted=print

 

What does he do for a job/?

 

I feel pressure has been tighter over this past year as the crisis worked it's way forward, But i have just added them factors into the whole and went on pretty much as normal.

But I'm guessing the true impact of this crisis will be felt in months, Right now it's just panic and when that settles down we will see if the sky is clear or cloudy.

I'm not running to my bank to get my money out and stuff it under my bed or in a safe any time soon. But i do consider others that might be in a worse situation and hope we recover fast enough, But outcome looks good, As long as we keep carm and move forward circumspectly.

 

Need to get rid of the credit card...NOW

 

so far it has been good for me. got a big martgage and variable rate so the recent cuts saved me bout $250 a month. Petrol is also getting cheaper so its all good, apart from my super ( too scared to look ) but i don't need that for 30 years so not panicing just yet.

 

I can't say the crisis has affected me much as yet, I have been watching the markets slump which kinda makes me think now would be a good time to buy up on some of the stronger shares like Telstra etc but I've never even dabbled in the share market so I may be wrong. Apart from that fuel seems to be slightly cheaper so that's always a plus, and my car loan hasn't really changed much with the amount of interest etc so in all I'm currently not too worried bout it myself

 

If you've got a super fund, you've more than likely been affected..... I lost about 3k in my super last (financial) year.

We locked our mortgage in about 18 months ago, at 7.54% ( i think, will have to check) so we've got a bit of leeway. If rates continue to drop, we'll have to look at the pro ands cons of opting out of out fixed rate. The amount of money we've saved over the past 18 months will certainly cover us if it drops below what we are fixed at for some time.

Will this be a wakeup call for local banks to look elsewhere for borrowing / investing money. I hope ****en so!!

 

have a sook most people dont make that in a year y do people buy houses they cant afford y not wait anoither year or two and save another 30-50k ur gunna blow it on the interest anyway.im sick of people complaing on the news ,newspapers etc if u cant afford it fkndont buy it or start small and work up