It's STILL tough and not getting better - so how are we coping?

floss2

penelopedee wrote: »

....I read an article in a magazine about what would you do if you had a month left to live. Even in that situation I'm stuffed as I would have to run round making wills, worry about life assurance to protect the boys etc etc...

OH (and me too as a consequence) would be stu**ed if he died before we are married - he has not made a will, we do not have any joint accounts, and I have an idea of what provision he has made, but not much. I know I'd receive his "death in service" monies + a bit of a pension, but that's it until after 3rd September! :eek:

I would be OK - my sons get my life insurance policies to share which will buy DS1 a home & give DS2 a decent deposit (opposite ends of the country!) , OH gets my "death in service" to pay for the funeral (& he says the subsequent holiday!) + a bit of pension to buy a bottle of wine a month. I do need to make a new will after we marry, as my old one still has guardianship details for 2 children who are now 22 & 24

greengoblin

floss2 wrote: »

Why not save towards next year's when you've paid off this years? Even £50 a month is less than you would be paying pay your nan back & you've got £600 then....

I did try this this year but then the car broke and I had an interim period between paying jobs whilst still doing a voluntary job. My normal monthly pay is around £260 but luckily getting a few extra shifts at the moment so Nan is getting paid of speedy-quick! :T

floss2

greengoblin wrote: »

I did try this this year but then the car broke and I had an interim period between paying jobs whilst still doing a voluntary job. My normal monthly pay is around £260 but luckily getting a few extra shifts at the moment so Nan is getting paid of speedy-quick! :T

I know - whenever you get a bit put aside, something happens. If you can get a little bit of a cushion saved up, at least it is there for the inevitable rainy day.

Andraste

Floss, I know exactly what you mean. My DH needs to have an op on his knee, some sort of ligament damage that needs putting right. I'd managed to save about a months worth of his take-home pay - where we (both) work only pays statutory sick pay if you're off. Anyway, feeling a bit smug cos I'd got some money saved to cover this, then he's only worked two days in the last month. The best laid plans eh?

greengoblin

floss2 wrote: »

I know - whenever you get a bit put aside, something happens. If you can get a little bit of a cushion saved up, at least it is there for the inevitable rainy day.

Yup, know that one. Time for some ruthless de-cluttering and a carboot time I think. Even a £50 cushion is at least a cushion

littleowl

penelopedee wrote: »

I was brought up to believe (by those lucky parents who are getting good company pensions) that rent money is dead money.

But I actually believe that's fine if you are rolling in it and the majority of us are not. We have a mortgaged house. I have to work two jobs to pay it off. I am responsible for all of our house repairs and maintenance and i know if I loose my job it all goes. That is so harsh and such a heavy weight to carry cos I love my little family so much.

Quite often now I long to rent. I would get more help benefits wise if it all goes wrong. I would be able to pass the repairs etc onto somebody else.

I read an article in a magazine about what would you do if you had a month left to live. Even in that situation I'm stuffed as I would have to run round making wills, worry about life assurance to protect the boys etc etc.

Sorry for the rant, but I do feel quite strongly about this. It breaks my heart seeing my younger relatives and friends being made to feel bad about not being able to afford a mortgage, or even worse getting themselves into a real nasty financial mess trying to get one.

That is what I mean - people being made to feel inadequate because they don't have a mortgage on their own homes (I can't say 'owning' their own homes because they do not).
I have 'owned' houses most of my life and now I do not. Neither do I have any state benefits. I live on my pension from being a college lecturer plus state pension for which I have paid for all my working life. I am not saying it isn't hard - it is - but having the freedom of no debts is worth it.
My sister owns her house - mortgage free - and in the last few years has had to pay thousands for plumbing repairs, kitchen replacement, bathroom replacement - all necessary not just for the hell of it. She now has to find funds for a new roof. In total she will spend much more than I have in rent for the last four years.
When the mortgage is paid off it doesn't mean that you will live expenses free I am afraid.
I just get so fed up with the national belief that house owning is the only way to be and that those who rent are somehow lesser beings.

mummyslittleboy

ceridwen wrote: »

Well - personally - I probably tell myself regularly "Thank goodness I had the sense to buy when I had the chance".. I've never yet come across anyone who says "I wish I hadnt bought a place" - but I HAVE come across several people who say "I wish I'd never let go of owning my own place when I had it" or "I wish I hadnt passed up that good opportunity I had to buy my own place".

There is no security in rented accommodation - not in the private rented sector anyway. I would hate to be at the "mercy" of landlords...worrying whether they might put the rent up or sell the house over my head (not that I could afford house rental - or even flat rental - on my salary anyway in the area I live in......).

Re the State would help with the rent because of being a single mother - errr...I do have to state at the outset that I'm not a believer in asking for State help if it can be avoided personally. Right - having said that - I don't personally think its wise to make oneself dependant on State help anyway - because it's all too likely to be cut in the Age of Austerity a lot of the World is now entering (including Britain).

If you do "get off the property ladder" now - then how are you to retire later in life? (as you would still need a high enough income to be able to pay rent - as well as that necessary for bills/living on). The thought of being (or - to be more accurate - trying to become) a pensioner and still having to pay rent would turn my hair grey with worry (if it wasnt grey already).

We had the chance to buy our own home a few years back,we found a house mortgage was arranged and then rumours started going round work that there were going to be redundancy's XH was still quite happy to go ahead and I wasn't,I am so glad I won the arguement there as within 6 months we were both out of work. I don't regret the decision I made, now we have a council home in a lovely area and I hear a lot of my friends worrying how they are going to make this months mortgage payment I do feel for people who own there own property and are struggling to make ends meet when I was growing up owning your own home was supposed to give you security now it just seems to give some people a lot of worry and it is hard to know what is the right thing to do rent v buying your own all I would say to anyone is Do what makes you happy and what you feel comfortable doing but don't be pushed into things because thats what you think society/family/friends or peer pressure think you should do.

sparrer

I was brought up to believe in bricks and mortar, we had our own homes til ex OH was made redundant. I then worked for a local authority for 15 years in a residential position. I bought a tiny house to retire to but ex OH liked to spend rather than save, he thought one sensible one in the partnership was enough. Sadly our marriage didn't last, and I had to sell the house to pay certain debts - foolishly I'd added him as an associate card holder on my credit card :eek:.. He took the car by mutual agreement and I had to buy another, leaving me with nothing in the bank. In my 50's there was no chance of buying again.

I took early retirement due to illness, luckily the LA I worked for found a property for me to rent. It wasn't much and I exchanged it for the lovely little semi I rent now. In the Autumn they (the HA) are going to completely refurb my kitchen to my taste...I chose everything from floor to ceiling. Last winter two tiles came off my porch roof, it didn't cost me the £200+ it would have had I been a home owner. Tomorrow I'm expecting a locksmith (have you seen they charge? Horrific prices!) as the Yale lock isn't terribly secure. It won't cost anything .

Yes I pay rent but the repairs/refurbs equal or outweigh what I'd pay if I owned the house. As for mortgages, only the lucky few can have it paid off before retirement. I will always have security of tenure plus the opportunity to buy if I should want/be able to, at any age. (A lottery win would do it!)

Of course I was heartbroken when I lost my houses and loathed the idea of having to rent but it has proved a Godsend. Due to the exchange I was able to choose where I live. My neighbours (a single mum one side, a salt-of-the-earth family the other) are amazing, not in and out but always there for each other. In one house we owned the neighbour didn't speak to us for the first 16 months!

Someone said children shouldn't expect a house to inherit, perhaps not but one or other of my children would, if they wanted, be able to take over the tenancy under certain circumstances. As it is they have their own homes and encourage me to spend on holidays etc , rather than save to leave them thousands of £'s.

Writing all this just confirms how lucky I am to have my little HA house!

Tregemred

lauren_1 wrote: »

I am going to stop whining about my money issues for a change.

I have rhubarb growing! oooh takes me back to when i was a kid, rhubarb, paper cone of sugar, sitting on the coal shed munching away.

No wonder I have so many fillings.

:rotfl:Thought I was the only one! Loved it when I was little but, ooo, the expense now :eek:

muffin_man_7

:Athanks guys/gals for cheering my son up he's deserted me tonight in favour of gf big smile on his face they went cinema 1st time out since little cheinese arrived 4weeks ago tmz i think its sweet well better get off here i'm on supper duty tonight well it is a special occasion :jthanks again m m 7