Savings With the high-profile rescue of banks at home and overseas still fresh in the memory, consumer focus has suddenly switched to finding a safe haven for their nest-egg rather than chasing the best rate.

There are still some decent rates to be had. Only this week Egg launched an internet savings account paying a rate of 6.55% gross/AER variable. If you're still in the market for fixed-rate savings then you can get 7.20% gross for 12 months from India-based ICICI Bank UK, 7.06% gross for nine months from Anglo Irish Bank or for a six-month term, Birmingham Midshires, part of HBOS, is currently offering 6.85% gross.

But it's worth mentioning that with inflation now sitting at a 16-year high, a basic rate taxpayer needs to find an account paying 6.25% gross just to maintain the buying power of their savings pot.

Andrew Hagger, moneynet.co.uk.

Mortgages and property The cut in interest rates means lower monthly payments for borrowers on tracker mortgages; the full half-point cut has been passed on, resulting in a saving of £62 a month on a £150,000 interest-only deal. Borrowers on discounted variable rates may have to wait longer before they know how much of the reduction their lender will pass on. Only a handful of lenders have passed on the full reduction, with others passing on some or none of it.

If you need certainty, a fix is the only answer. The good news is that rates on fixes have started to fall and we expect that to continue, so it may be worth holding off a while before securing a rate.

Some good deals available this week include First Direct fixed at 5.39% for 24 months (maximum loan-to-value 80%) and Cheltenham and Gloucester fixed at 5.59% until February 28, 2014 (maximum loan-to-value, 90%). On trackers, among the best is Scottish Widows at 5.25% (0.76% over Bank of England base rate for 36 months).

Most commentators predict further reductions in property prices over the next year so if you need to buy now you should ensure that you don't pay more than you need to by negotiating a hefty discount. If you need to sell, you should be realistic as to what prices are being achieved in your area: it is a buyers' market so they will be negotiating hard. The easiest way of achieving a sale quickly is to be realistic over the pricing. If you are moving up the property ladder, now could be a good time to buy. If prices have fallen by 10%, say, and your home is selling for £200,000 but you are buying for £400,000, then you may lose out on £20,000 on your property but will pay £40,000 less on your next home.

So you will be better off than if you were downsizing, where the opposite is the case. Buy-to-let is more difficult, with fewer deals available so is only really suitable for savvy investors who know what they are doing..

Melanie Bien, director of independent mortgage broker Savills Private Finance.

Pensions As markets have plummeted, many people have watched the value of their pension funds fall and are unable to get their money out. This is likely to further damage confidence in pensions.

Only those in public-sector pension schemes will have been unaffected. Those closest to retirement without a final salary pension are in the worst position and will face tough choices. They may have to keep working, or accept a lower pension annuity than they expected, or maybe consider taking some tax-free cash out of the fund to live on for a while but leave the rest of their pension money invested in the hope that markets will recover. Independent financial advice is essential to help with these decisions.

Although younger people have longer to hope for a market recovery, they may now be worried whether their pension fund is safe. If a pension provider becomes insolvent, there is a compensation scheme to cover around 90% of losses, with a maximum of £48,000.

People in private-sector employer final salary schemes will be less directly affected, but are not immune from the market mayhem. Estimates suggest pension funds have lost around 20% of their value recently and big deficits have resurfaced. This means employers will have to find more money to make up the shortfalls, but the economic slowdown may mean they are unable to afford this.

The unintended consequence of saving the banking system may be a further undermining of private pensions. This is not in our long-term interests at all.

Ros Altmann, independent expert on pensions policy.

The average pension fund has plummeted by almost one-third over the past 12 months, leaving those approaching retirement understandably nervous about their prospects of funding a decent retirement. Although most investment funds will have seen values fall, the extent of the damage suffered will largely depend on where your pension is invested. More risky sectors such as global emerging markets, commodities and UK smaller companies have fared particularly badly, with losses of up to 40% whereas those in fixed interest and defensive managed funds will have escaped the worst.

It is crucial that you review your pension holdings and consider whether their fund choice still matches their risk profile. Those approaching retirement will need to consider whether they are prepared to accept any further falls in the value of their plan or if they should switch out of equities into safer assets such as cash. The alternative is to stay put and wait for the markets to recover. While younger pension investors still have plenty of time on their side, those closer to retirement may ultimately have to consider delaying their retirement.

Richard Eagling, Editor, Investment Life & Pensions Moneyfacts.

Loans and credit cards Although a number of providers have increased rates and charges in the past year, the credit card market has not been impacted by the credit crunch as much as other areas. Consumers can still find attractive deals on balance transfers and introductory purchases. In fact, in the past week, Virgin Money has extended its balance transfer deal to offer 0% for 16 months.

The main impact on credit cards has been in those being accepted for new deals. A year ago, consumers with a minor blip on their credit file would still have received the best deals. Now however, they are likely to be offered higher rates or declined altogether.

Just like on other aspects of lending, unsecured loans have been severely affected by the credit crunch. This time last year, consumers could obtain a rate of 6.3%; today the lowest rate on offer is 7.6%.

Michelle Slade, moneyfacts.co.uk.

Employment The Scottish employment rate has been continuously higher than the UK since May 2004 and the performance remains very good.

Clearly the economy takes longer to recover from more significant downturns. Scottish unemployment is also significantly lower than the UK and has been since June 2006.

In terms of sectors that have been losing jobs, the biggest losers will probably be manufacturing, real estate, construction, hotels and catering, and retail.

It is difficult to predict the exact size of the change in financial services - clearly there will be a contraction in employment here: if the HBOS/Lloyds TSB merger goes ahead, the expectation is that in 2009 the job loss in that sector will be greater than if the merger does not take place.

There are many sectors still performing relatively well: business services (especially accountancy and law); the public sector; retail; electricity, gas and water supply is holding its own; the energy sector is still important; education; and in manufacturing food and drink, chemicals and some light engineering sub- sectors remain relatively healthy compared to the rest.

Kenneth Low, chief economic forecaster, University of Strathclyde.

'Retailers don't just want your money - they need it'

Shopping If you can shop around, retailers really want your cash. If have money to spend then you are in pole position. Bartering and bargaining may reap added savings. Some retailers may be heavily over-stocked and desperate to move products. For consumers, current sales may seem attractive but could the reductions be even greater as Christmas draws near? If you hang on, then you may be surprised in December at just what the offers are. It is also worth looking online if you can for vouchers, discounts and other viral marketing sales offers.

In food, even mighty Tesco is not immune and has turned discounter to fend off the "Lidl and Aldi effect", offering new discount brands, a power aisle of discounted products and an accelerating number of offers in store. There is no doubt that Tesco is now cheaper than it was three weeks ago and other retailers are going to have to react to this new price landscape.

So what should shoppers do? For big price items such as household goods and cars, then there is every opportunity to shop around and compare prices. Use of web comparison sites to check out what is available at what price is a good starting point. But if that is not possible, then shopping around and comparing and contrasting prices is sensible. Longer term, manufacturers are likely to refocus production on items that meet the new consumer feeling and so focus on smaller cars, more energy-efficient products and other cost savings, such as smaller pack sizes. But this will leave a legacy of the "old" goods which will have to be sold somewhere.

For those buying via catalogues, then checking out websites is a good idea. Many catalogue items were priced some months ago and products ordered in anticipation of demand. As demand has fallen, so retailers will be keen to move products. In fashion, we can already see retailers such as Marks & Spencer reducing prices to attract trade and bundle products in special offers.

Shop around and compare prices. Look for value-oriented and aggressive retailers, but don't be afraid to walk away or ask for a better price. Retailers don't just want your money, they need it and those cutting prices now could well be joined by many more in the weeks to come.

Leigh Sparks is Professor of Retail Studies at the Institute for Retail Studies, University of Stirling.