Credit crunch, why do we need to save money again?

[jamoor]

So,

Fuel prices down
Food prices down
Mortgage rates down.

Why do we need to save money exactly that's "credit crunch" related?

All the shops are harping on about it, but does it actually mean anything?

[m3jappa]

I think the worry for most is they may not have a job or at best the sort of income they have today in 6mths time. This makes people hoard their money imo.