IN 2008, THINGS seemed quite rosy. Sipping on our frappuccinos, applying for 100 per cent mortgages and buying designer clothes on trips to New York were just our little ways of treating ourselves.

But on 30 September 2008, things changed with the signing of the bank guarantee following crisis talks involving the then-Taoiseach, Brian Cowen, and the Minister for Finance, Brian Lenihan.

Their aim was to prevent Anglo Irish Bank collapsing, and in turn prevent other banks following suit.

Turns out that the trickle-down effect of the bank guarantee affected us in all sorts of unexpected ways, from what we ate to what we wore… and maybe gave us a new appreciation for the things we have.

Here’s how things changed:

Houses

Pic: Sam Boal/Photocall Ireland

Then: Your parents encouraged you to buy a house
Now: Your parents say they always told you not to buy a house

Pic: Shutterstock

Then: 100 per cent mortgages
Now: Living with your parents

Food

Pic: e_calaamar/Flickr

Then: Hipster food eaten off a giant plate with a smear of 'jus'
Now: Hipster food eaten off a plank with a jam-jar for a glass

Music

Robin Thicke and Miley Cyrus. Pic: Charles Sykes/AP/Press Association Images

Then: Katy Perry singing I Kissed A Girl was controversial
Now: Miley Cyrus twerking in the nip is controversial

Holidays

Pic: Cookie/Flickr

Then: Buying holiday property in Bulgaria
Now: Buying bucket and spade in Bundoran

Pic: Shutterstock

Then: Holiday in Australia
Now: Emigrating to Australia

Drinks

Pic: Ruanon/Flickr

Then: Drinking Frappucino
Now: Drinking kombucha

Transport

Pic: D464=Darren Hall/Flickr

Then: SUV/Jeep
Now: The bus

Shopping

Pic: Mad Mod Smith/Flickr

Then: Superquinn
Now: Supervalu

Pic: Paulo Rená/Flickr

Then: Buying made to measure suits
Now: 'Thanks, Penneys'

Read: Taoiseach reveals details of forthcoming banking inquiry>