Whether or not we’re lucky enough to be in jobs, the recession is affecting us all, writes Louise Jew – down at the supermarket, in our gas and electric bills and at the petrol pumps.

A recent survey found almost 40% of households saw their finances worsen over this summer, going down at their fastest pace since February 2009.

And feedback from Lou’s Women shows many of us are feeling the pinch too.

It’s all bringing home a few unpalatable truths – old homilies like Mr Micawber’s advice to David Copperfield: “Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds and six, result misery.”

We all seem to have lost sight of common sense – egged on by bankers who should have known better and who were only too keen to persuade us to borrow more and more – until we were brought up short by the global recession.

Speaking for myself, I’m more inclined these days to use up the left-overs in the fridge instead of throwing them away – and it’s really rewarding to find that, with a few pinches of herbs and spices, food can even taste better the second time around.

By shopping at some of the cheaper supermarkets you can virtually halve your normal trolley bill – and still have luxuries, like a whole brie for under £2!

I’ve always been a bit of a fritterer – but I’m now being slightly more careful, not buying something new every week to further cram up my already bulging wardrobes and, if I really feel I must buy something to wear, browsing through the rails of the charity shops in town.

Find out how Lou’s Women are tightening their belts to cope with it, below.

You can have your say – join in the debate using the comment form below.

Let Rip, Lou’s Women!

Jean Martyn

Britain’s Got Talent star Jean Martyn says: “I feel that if people take care of the pennies the pounds take care of themselves, but in this world, there is a lot of greed. The media with high designer adverts cause young people to want to spend beyond their limits, and until the country gets back on its feet we should be rather thrifty.

Julie Wilson

Chess aficianado Julie Wilson says: “I’m definitely tightening my belt and have probably gone too far, so I actually have more money left over. I’m now doing my shopping mainly at Aldi which makes a big difference. I’ve also cut down on impulse buying and am thinking about the price of everything I buy and whether I really need it. I’ve also started to car-share going to work in Worcester which I reckon will save me £100 per month.

Ros Jones

Ros Jones says: “Both myself and my husband work but the current economic climate is certainly having an effect on our household.  It seems to have crept up over the months and now we are both more conscious of what we spend our hard-earned money on.  For example, I’ve stopped doing a big weekly shop at Sainsbury’s and now tend to plan our meals more and buy just what we need.  I tend to turn left-overs into meals whereas in the past I would probably have just thrown them away.

Helen Broadhurst

Helen Broadhurst, aged 81, who used to fit corsets for a living, says: “I have to shop around and look for the bargains much more than I used to and I have to think twice before I buy anything – do I really need it? I would like to buy British goods more but they always seem more expensive. I suppose I’m lucky that I am retired and have the time to shop around.”

Stacey Senior

Stacey Senior, our carnival queen, says: “My partner and I have bought a house, which we have just moved into. But we have noticed the impact on those around us, particularly as I work in the council, I am aware of the cuts and changes and recognise that there are solutions but that we cannot continue as we did before. And it’s not a comfortable place to be, for anyone.”

Holly Dodd

Student Holly Dodd says: “The one real way I have quite clearly felt the impact of the economic recession on my family is the redundancy of my mother last year and her subsequent difficulty finding any vocational replacement in an ageist market. Afterwards, finding a property for let was extremely problematic for the family as a result of the recession on the housing market.  We were looking for more than half a year before we found a suitable property.”

Chris Armstrong

Llama Lady Chris Armstrong says: “Living in the country I have to rely on oil for heating and cooking and have found it just too expensive. Last year I bought convection heaters and just heated the rooms we were in as the central heating was eating up the oil. Other than that it hasn’t really affected me.”

Sheena Hamilton

Conservationist Sheena Hamilton says: “It’s quite simple really.  Don’t spend more than you’ve got.”

Gail Millard

Our new panellist Gail Millard says: “I have always shopped once a week with a plan as to what to cook for meals every night. But now I am shopping day to day. I have cut down on cakes, biscuits and chocolates (doing me a favour really!) and also sadly, fruit and veg, as I find this expensive lately.  I always used to buy Libby, my grand-daughter an outfit or pants and socks or something in the sale rack but I’m totally missing out on that department. We used to enjoy visiting our friends in Cambridge regularly and now the price of fuel has affected us. We think twice now about disposable income  being not so disposable.”