Credit crunch - a sudden reduction in the availability of loans.

Recession - a significant decline in economic activity. Normally visible in income, employment, industrial production, and wholesale-retail sales.

Inflation - a general rise in the price of goods and services.

Unless you've been living on Mars for the last few months you will have noticed constant reference to the state of our economy.

The same old words seem to be threatening us day in and day out. But do these words mean anything to us?

Do we even care about the threats that have already taken hold?

We decided to ask what you think.

LB - Comedienne, writer & mental health key worker - London

Obviously you cannot outright buy a property so some debt is understandable, but in general, my late dad programmed his three daughters to read CREDIT AS DEBT. This has manifested in me being pretty much sorted in terms of cash flow since I have a propensity to save money and have done so from the age of 19. I always pay myself first and take full advantage of free power saving light bulbs, insulation promotions, money off vouchers and the like.

Warning: Pull With Caution

The Club Scene. Lights, camera, music, action.

You stop me and say: 'Hi sexy, what's your name, can I get your number?'

I think, o no, here we go again...

'Off to the ladies', I say, still walking. I check myself in the mirror. You have made me feel paranoid. There must be something wrong with me.

I despair. I have just paid a small fortune to get into this er, 'classy club for the mature raver' and immediately get pulled by a smartly-dressed numpty! Don't go there, I tell myself. Appearance isn't everything.

At the bar all seems clear...