Fearful Brits concerned about recession
www.moneynews.co.uk > General finance > Fearful Brits concerned about recession
Topics |
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Features |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money News |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fearful Brits concerned about recession
Thu 6th Mar 2008
|
|
|
|
Many Brits are on tenterhooks, it found, with 20 per cent of those surveyed revealing that just a mention of the R-word "fills them with fear".
One in twenty pessimists fear that the current economic downturn will continue indefinitely, while a third expect it to last for the next two years.
The website classified its respondants into two categories - Recession Veterans and Recession Virgins - signifying those who had lived through the harder economic times of the 1970s, 80s and 90s and those who have only experienced the good living of the last decade so far.
It found that 41 per cent of Recession Veterans had already noted a negative impact on their finances, compared with 25 per cent of Virgins.
Meanwhile one third of Recession Virgins reported feeling stuck in the money trap, with no choice other than to be in debt, which Fool.co.uk argues is symptomatic of modern financial habits.
David Kuo, head of personal finance at the website, said: "In an economic downturn there will be opportunities and threats, and we can take steps to maximise the first and minimise the second."
He recommended that people take simple measures, such as cutting back on household spending, in order to ensure that they have spare money they can rely on in the event of a slump.
Nationwide released its latest Consumer Confidence Index yesterday, which had fallen by three points to hit a new low.
Related News : General finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
