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Last Updated: Thursday May 08 2008 11:43 GMT

Are you counting the pennies?

Piggy bank, credit cards and cash

You might have heard the words credit crunch, which means lots of people are having to watch every penny.

Food is getting more expensive, the bills your mum and dad have to pay are going up and lots of people are having to use their money really carefully.

So are you feeling the pinch or are you worried about this?

Perhaps you've noticed a change as you're getting less pocket money or you're eating different food with less treats?

Are you skipping a holiday this year as it's too expensive or having to make do with the clothes and toys you've got instead of splashing out on new things?

Maybe nothing's changed and you can't work out what all the fuss is about?

Unfortunately this topic is now closed but there are Comments pages on other subjects on the main Chat index.

Your comments

"I'm trying to get money to save up for a MacBook. I will be cleaning cars and cutting grass. Hopefully I'll be able to get enough money."

Harry, 12, West Midlands, England

"It is not hard to save up money. I am on holiday and I have loads of money to spend."

Bethany, 11, Liverpool, England

"It is our parent's job to sort out the money. Us? We just sit back and have fun!"

Justin, 11, Slough, England

"Because we are moving house we're having only one holiday and less pocket money - 2 to 1. But apart from that, no."

Alfie, 10, Devon, England

"I think that we shouldn't worry about this and we should think about people who really need the money."

Jess, 13, Lancaster, England

"I need a new i-Pod and mummy said I had to save up with all my little pennies, but I've only got 10p."

Kaiya, 9, Brighton, England

"I hate saving up! I get $10 a month (about 5) but my parents are very keen on teaching me about saving, so out of my $10 I put $3 (about 1.50) in a savings piggy bank."

Mira, 10, Chicago, USA

"Well I am not seeing a lot of difference in my family, except they complain of bills and petrol, but I'm still going on holiday."

Melissa, 12, London, England

"I haven't noticed any changes at all."

Lauren, 10, Penarth, Wales

"My Dad is always talking to family members on how much petrol, rice, wheat and other things have gone up so much!!!"

Nahidul, 11, London, England

"I haven't been getting much pocket money recently, so I sold some of my toys at a car boot sale."

Alice, 11, Nottingham, England

"My Mum and Dad have noticed about the price of things. I get 10.00 a week if my room is clean. I am saving up for my friend's birthday present."

Amelia, 11, London, England

"I don't get pocket money, as my parents need it for bills and stuff. So, I've got myself a paper round, which pays 10 a week. I only used to get 10 a month in pocket money before!"

Heather, 13, Sheffield, England

"I have been saving up for ages and I've already got 70. It's a bit hard to not spend it! I get 1 for cleaning my bedroom!"

Phoebe, 11, Herefordshire, England

"I never get pocket money anyway, so I haven't noticed a change - the only change I've noticed is that we're buying less sweets than usual..."

Lamin, 12, Birmingham, England

"Yeah, my parents are having the same problem, but we're still going on holiday. I have got 31 and I don't feel bad because my parents do borrow money from me, but they always pay me back! I am saving up for an i-Pod!"

Alice, 12, Northamptonshire, England

"I am saving up for a Dr Who screwdriver toy and it is 12.99. It is very hard for me to save up because I keep on buying things."

Billa, 10, Harrow, England

"My aunt is having a baby soon. I am saving so I can buy it something nice."

Caoimhe, 13, Belfast, Northern Ireland

"Yes I get 2 as pocket money every week. My mum & dad are saving up, still paying for our house and caravan. I save until I get lots and buy nice stuff."

Chelsea, 8, Yorkshire, England

"My parents are cutting down a lot even in France things happen. It's scaring me a lot but my parents explained to me that it will be OK."

Grace, 13, Cannes, France

"My parents give me all their spare pennies and 5 pence coins so I save them up. And so far in the past year I have made 20. I recommend other children doing it too as it helps you save up and parents get rid of small change. You could do it with your whole family! Put the change in small bank bags from your local bank and when you think you've saved enough take them to the bank to change them into notes."

Sabrina, 11, Middlesex, England

"I didn't notice my parents cutting back."

Ben, 10, Germany

"It's getting really hard for people to carry out their normal lives now... Taxes, bills, food and fuel are all soaring and is anyone doing anything about it? NO!"

Hannah, 13, England

"I haven't really noticed any difference except my mum being in the shop, seeing the price and saying "Wow! the price of that really has gone up!". But I do still get 5 a week pocket money."

Nikkie, 8, Hertford, England

"Me and my family are cutting back on how much water and electricity we use because it costs a lot now. Also we are not going far in the car anymore because it's so expensive, this means we can't really go on family outings that are not near where we live and it really upsets me."

Louise, 11, Lancaster, England

"My granddad is always saying how the price of things have gone up, including petrol!"

Beth, 14, St Helens, England

"Well I don't notice anything. My parents always give me 2 pocket money."

Jack, 10, Kendal, England

"I try to save up but I end up spending it!!!!"

Claudia, 10, Slough, England

"My uncle always give me 5 every week and I never spend my money because I want to save up."

Honour, 10, Suffolk, England

"A couple of years ago milk only use to be 1.25 but in my shops near me they have gone up to 1.80! I am quite worried because my family is really big and if the money goes up for the food we won't be able to buy as much food because my mum will be paying the bills and for my school dinners everyday, I think something should be done about this!"

Rebecca, 10, Devon, England

"My family isn't really cutting back. I'm going on holiday to France, Germany, Poland and Italy this year!"

Mi, 13, Lincoln, England

"I have never been out of Ireland and I really want to go to Spain but my parents say it costs far too much. So we just go down to the Republic for a week and stay in a holiday home."

Claire, 11, Northern Ireland

"I've noticed my parents cutting back because I'm going on holiday with school this year and going with my parents so they have to pay for that. And we are doing the house up so they have to save a lot of money."

Kristen, 14, Kent, England

"I have noticed it a little bit but I'm not too worried about it, let the adults sort it out eh?"

Hetty, 11, Nottingham, England

"I haven't really noticed my parents cutting back - the only thing I have noticed them complaining about is how much petrol has gone up!"

Emma, 11, Maidstone, England

"I've definitely tried to cut down on buying things. My dad almost lost his job, so if I want anything I'll have to save up for it for myself. My parents don't buy me things anymore."

Alex, 12, London, England

"We're not going on holiday this year."

Harriet, 13, Isle of Wight

"I am saving up to buy a toy for 6 and that's really hard! I can't imagine how hard it is to buy all the food!"

Booca, 10, Bracknell, England