worrying: most people only a few pay days away from poverty.

E

EddieM

I guess they fall into 2 very broad categories.

Those that are unable to save or in debt spirals, not always the individuals fault.

Those that have over-committed. (IMO)

How much buffer do you have? (you shouldn't answer quantiatively, just a general statement.)

Disclaimer: There will be many more situations, where this is relevant.
 
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Yes, it is sad that many are only a few paydays away from poverty and most of those will be the hardworking working classes. Those on benefits will be no worse off. I have a mate who saves nothing and has always lived in rented accommodation. When I’ve asked him what he is going to do when he no longer works and can afford the rent, he laughs and says "I’m not my problem, I’m the states problem".

Personally I’ve always saved and having paid off our mortgage years ago we are able to help our kids with deposits for homes when needed. We always keep up to a years running costs in our company account as a buffer should we hit lean times. With the recent pandemic we thought we would be using those funds as I've been off from work since mid March and I don’t expect to start back until September but luckily enough we’ve been able to get furlough money plus a one-off small business grant that will more than tide us over without having to rely on our own funds. Our business is in alternative vocational education so possibly that will continue but who knows? Failing that, I was thinking of retirement only last year and this lockdown is getting me used to not working - if I do go back in September I’d need to change my hours to accommodate my afternoon nap!
 
We have savings we can use.
It's very expensive this lockdown tbh - all the offers in shops with things we buy seem to have stopped, food prices seem to have gone up plus there's a lot of things that we have to buy online that we can no longer get (cat food etc), so paying P&P is adding up too. I really feel for people who will possibly lose their homes over this as I imagine quite a few jobs will no longer exist when this is all over and evaluated, as well as those who have already lost them.
 
Yep, always been the case. And why a good welfare state is so important - yes, some people abuse the system, but welfare is vital to keep the whole economy healthy.

We've got some interesting times ahead. I have almost no savings, but since lockdown I have been saving (mostly thanks to the kids various clubs and tutors being cancelled, and my wife stopping yoga, keep fit, and coffee with friends!). We are trying to save as much as possible, as we are both still working at the moment, but things could get a lot worse if recession bites hard. The mortgage is the biggest cost - everything else you could sort of live without.

I have ditched BT after about a decade and moved to Vodafone for phone and broadband (£57/mo to £22/mo). Need to find other savings....

Growing my own veg too. So far not spent much, being careful to not waste money. Not sure how much that will really save though, probably tens of pounds rather than hundreds ...
 
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Headline inflation is apparently down.

But when you look at the real figures it's gone down for the rich and up for the poor.
Quelle surprise!

We've got no money problems, unless of course a 'Cypriot haircut' is in the offing!

But what is interesting is the governments relief money 'bail out'.
If you wish to take it to use as you wish, so far no questions asked.
But if you have no need for it and wish it to go to charity there is apparently no mechanism to do so - it simply becomes declared income for future tax returns.
Having said in another topic that the system seems to work well if you need the income, this is a flaw for people like us who have seen no drop in income but would like to do a bit of direct good with that money!
 
STFF

Dunno which cat fud your kitty likes, but Farm Foods do a brill offer on Whiskas. 3 X 40 pouches for £22.

We also buy Hill's from whoever sells cheapest. Sometimes Pets at Home, sometimes other online places. If you buy a 20kg sack, the price per kilo plummets. Maybe share a sack with a friend or neighbour?
 
sodthisforfun said:
It's very expensive this lockdown
Click to expand...
We (as a family) are finding the exact opposite to be true in a huge way. No more meals out, no more fast food, no more school lunch fees, no more footie subs, gym subs, clothes, shoes etc etc. I have hardly spent a thing comparatively.

We are paying extra for butcher delivered meat but it doesn't come anywhere near to our usual outgoings. couple that with the fact the wife is still being paid (she still does a bit). I do admit to having worked a fair chunk of the lockdown too and I am a bloke with minimal outgoings as I am a big fan of paying in full up front i.e. car paid for, van, golf membership, mortgage, work lock-up, all vehicle insurances etc.
 
As many things in life I guess it's very polar, many have lost their jobs and will be going through a very worrying and tough time.

Personally, I've never been better off. I usually work away from home, but not at the moment, I'm lucky enough to be able to WFH, so currently about £1500 a month to the good. Wine bill is a bit heavy though, not taken any cash out for over 9 weeks now.

Similarly to @noseall I have no debts and always pay everything upfront, ever since I got divorced and as many men do, lost pretty much everything, I've been careful with money and tried to ensure I have a safety buffer. I fully appreciate others will have very different circumstances.
 
EddieM said:
divorced and as many men do, lost pretty much everything,
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I ended up with a deck chair and a mattress!....She went off with her boss...He had charisma apparently...LMAO...... Even now..25years later!!Ended up renting a guys back room...Ceiling was black with gold stars stuck on...Still remember staring up at it thinking WTFfff....Last week i was happily married.
 
noseall said:
We (as a family) are finding the exact opposite to be true in a huge way. No more meals out, no more fast food, no more school lunch fees, no more footie subs, gym subs, clothes, shoes etc etc. I have hardly spent a thing comparatively.

We are paying extra for butcher delivered meat but it doesn't come anywhere near to our usual outgoings. couple that with the fact the wife is still being paid (she still does a bit). I do admit to having worked a fair chunk of the lockdown too and I am a bloke with minimal outgoings as I am a big fan of paying in full up front i.e. car paid for, van, golf membership, mortgage, work lock-up, all vehicle insurances etc.
Click to expand...
I was talking about food shopping for us! But yes, I guess it depends on lifestyle. We don't have kids, go to the gym, pay school lunch and we rarely ate takeaways and only had half a dozen meals out a year! Bit boring really :LOL:

Yes, we also pay for things up front - no loans or owt, no mortgage either. My better half has always been careful but I wasn't when I was a kid - so I learned the hard way that when things go wrong, they really go wrong!
 
noseall said:
We (as a family) are finding the exact opposite to be true in a huge way. >>snip<< I have hardly spent a thing comparatively.

>>snip<< I am a bloke with minimal outgoings as I am a big fan of paying in full up front i.e. car paid for, van, mortgage, work lock-up, all vehicle insurances etc.
Click to expand...

I guess it's the way you brought up - I was always guided to save when I started work. pay packet was divided four ways 1/4 for upkeep; 1/4 for pleasure; 1/4 to get to work & tools; 1/4 into savings. first purchase out of savings was my first motorised transport. That was P/E to buy my first vehicle (a S/H minivan) with little cash addition.
Only time I've not saved (as such)was when I started my house buying.
 
securespark said:
STFF

Dunno which cat fud your kitty likes, but Farm Foods do a brill offer on Whiskas. 3 X 40 pouches for £22.

We also buy Hill's from whoever sells cheapest. Sometimes Pets at Home, sometimes other online places. If you buy a 20kg sack, the price per kilo plummets. Maybe share a sack with a friend or neighbour?
Click to expand...
Thankyou! She sadly hates whiskas! She eats a couple of the flavours out of felix, ones I can no longer get at the supermarket as I am guessing production/availability has been stripped down to the bare minimum. The other food she eats are high-end brands of wet and dry. I used to go around all the supermarkets/pet shops and buy whatever one they stocked as no shop stocked all the food she eats in one place. I am finding that either the shop is shut or they don't have it, plus all the offers are gone. £5.50ish for a single box of felix, a box that she eats one flavour from is getting expensive!!
 
durhamplumber said:
I ended up with a deck chair and a mattress!....She went off with her boss...He had charisma apparently...LMAO...... Even now..25years later!!Ended up renting a guys back room...Ceiling was black with gold stars stuck on...Still remember staring up at it thinking WTFfff....Last week i was happily married.
Click to expand...

I had a suitcase and her, bought by me of course, car (the engine blew up on it 3 weeks later, write off) :LOL: she kept the 4x4 (and sold it even though it was registered in my name :evil:) Ahhh, dark days.
 
securespark said:
STFF

Dunno which cat fud your kitty likes, but Farm Foods do a brill offer on Whiskas. 3 X 40 pouches for £22.

We also buy Hill's from whoever sells cheapest. Sometimes Pets at Home, sometimes other online places. If you buy a 20kg sack, the price per kilo plummets. Maybe share a sack with a friend or neighbour?
Click to expand...


Good grief, ours has Aldi cat food, he doesn't like it much (I confess it smells vile) but it's either that or starve. No wonder he's always in a bad mood.
 
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