I was talking to a 30-something friend the other day about the recession (Hey I know how to have a good time). She had made three plans for the worst-case scenario. One was in case she lost her job, one in case her husband lost his, and one if they both lost them together. She said: "I rang my dad and told him my 'end of the world' plan was to come home. He said 'no way!'"

Quite right too.

But he is the exception to the rule. The experts reckon we'll see our kids - and our parents - moving in before long. But could you cope with living with your parents again, and is it really such a foregone conclusion?

Pay rises are fast-becoming a thing of the past. So it's up to us to make sure we're squeezing every penny that's humanly possible out of our boss.... And there's a very cunning way to do this.

It's called salary sacrifice, which doesn't sound terribly attractive, but bear with me.

The idea is that you and your employer agree to cut your salary, and put the difference into any one of a number of tax-free benefits instead. Again not sounding brilliant just yet. But...

Say, for example, you sacrificed £50 a month. In return you'd get £50 of benefits, plus an extra £15.50 in your take-home pay.

£65.50 instead of £50. That's pretty cool pay rise.

If you drive home today from your high-paying job and plan to relax with cigarette and a glass of Scotch while you sit down to watch The Apprentice, then make it last... after tonight, this simple pleasure is going to cost you more thanks to today's Budget.

Let's look at the key areas that were tackled in this historic Budget – never before has the Government borrowed so much – and see where we might get something back.

Peter McGahan is the Managing Director of Worldwide Financial Planning. Worldwide are FT Award winning independent financial advisers - having won 16 FT awards in 4 years. Peter is now widely recognised as an expert and specialist within the financial arena, who features regularly for local and national publications.

Peter will be available to respond to your queries from 12.30 - 3pm UK time on 22 April. To submit a question, simply post it in the comments field below.

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11:44AM Hi

I'm Barry Newton. Myself and Peter McGahan will be here waiting to answer your questions in regard to how today's budget will affect you from 12:30pm until 3pm so please ask away !!

Read the latest question and answer after the jump.

A pal of mine in the City is always banging on about the need to look at pension provision now, when there are still a few decades left before retirement beckons.

He says the problem younger workers have is making any real connection between what they do now in terms of savings and investment, and the effect it might have on their life once they reach 65. But after watching Panorama on the BBC last night, it was clear that by not being prepared in some way for retirement, there is a grim possibility that you will either be a poor, older person or you will never be able to afford to retire.

For those who are 50+, being made redundant now may seem like the end of world; getting another job seems simply impossible. However there are plenty of ways you can maximise your chances of getting employed again. It's all about a bit of positive thinking...

Sun, sea, Sangria. No travel problems due to snow, or rain, or leaves on the line.

You can see how a life in the sun might be preferable to staying in the rainy old UK.

Back when sterling was robust, millions of Brits packed their bags and headed off for a life in the sun, relocating to Spain, France and other sun-drenched European locations.

But now that one pound gets you less than a full Euro, many expats are facing the depressing reality of returning to the UK in an attempt to stop their funds sluicing away.

So what resources are there to support our prodigal countrymen (and women)?

You do not have to be all that old to remember when putting money in the bank was considered the wisest and safest thing you could do with your hard-earned cash.

However savings accounts from major banks have fallen into disrepute in recent times because of the stingy interest rates available.

So those who are living on a pension, plus a bit of income from their savings and any interest on it, would do themselves a favour by keeping an eye on what the less mainstream banks are offering.

A lot of people are nervous when they read about banks which are new to our shores. We have banking codes, customer care requirements and Financial Services Authority regulations to protect us. But do these Johnny-come-latelies stick by these rules?

Pensions, like death duties, are something we rarely give a lot of thought to when we are younger.

Many people don't have a personal or company pension set up and will find themselves relying on the state handout if and when they retire.

And while pensions are often advisable, there are other plenty of other options available to make sure you have some money to get by on once you retire. One is the simple savings account.

You pay money in, it grows and the bank pays you interest which you treat as an income. Simple.

While the interest paid on these accounts has plummeted in recent months making them far less attractive than they once were, there are still offers out there for the saver who feels this simple form of investing is something they feel comfortable with.