Just not earning enough

Kevicho

Luckystepho wrote:

Whoever mentioned tax was right- we are taxed on what we earn, pay taxes on stuff we buy, pay taxes to run a car, pay tax on any savings (savings?? What are those?) and if we want to leave somebody money when we die then that is taxed too!

This is very true

However have you looked into ways of reducing tax?

cupid_s

MoaningMyrtle wrote:

But that is precisely what you are doing, you don't know about people housing arrangements and payments do you?

I do not like the sanctimonious tone of your last sentence, when you have no idea what a lot of the posters here have been through, and are still going through to simply 'survive'.

I am sorry
So much is based on luck and some people are more lucky than others and circumstances are often beyond peoples control so it was wrong to generalise

newlywed

calleyw wrote:

For tax credits if you earn over 16K a year as a couple no children you get no tax credits at all. As I looked in to it earlier this year. And what annoys me is if you are having to make CSA payments they are not taken in consideration. Even though it could take you well below the limit for a couple.

On the other hand OH has been getting tax credits and because he is self employed and his income changes by about £1,000 each year, they have just billed him for nearly £3,000 that they say they overpaid him in the last 4 years and now want it back.

So it's not necessarily a "benefit" when all they do is send through 12 updated forms in one week, all covering the same 3 years and all completely different. Some saying he's been underpaid, some saying he's been overpaid and then they say you should pay it back within 12 months!!! I wish we could just to get rid of the hassle it's caused!!:mad:

Pobby

Kevicho wrote:

Life is gonna get even tougher in the coming years, not just financially either, so I think veryone on this board owes it to themselves to keep up the good work and keep on trying to evolve

Kevicho,was interested in this comment.What ways do you see things getting tougher?

black-saturn

calleyw wrote:

But you don't have a mortgage and no rent. Which for most people will take most if not all of what you earn a month.

That makes a big difference. And is not comparing like with like.

Does that included any tops ups like Tax credits or just what you earn in wages.

I bet if you took your mortgage payments off what you earn you still get double what I get. I've worked hard to pay it off and budgeted my money to do so.

I'm not on ANY benefit.

Kevicho

Just echoings Black saturns post, first of all congrats on paying off the mortgage.

Secondly financial management is about making sure your income outweighs your outgoings, this doesnt matter if you have a mortgae or not, at the end of the day you have to earn more than you spend.

Black has put herself in the position now where she can afford to live on less, a situation I am working to attain.

Her efforts should be applauded.

Everyone wastes money, its a simple fact, i think if i looked back over my 8 years of working and realised how much i earned, vs how much i currently have, i would be in shock (trust me I was lol)

Kevicho

Pobby wrote:

Kevicho,was interested in this comment.What ways do you see things getting tougher?

Ill elaborate more later, if i get time lol

Pobby

Kevicho wrote:

Ill elaborate more later, if i get time lol

Please do.I have my own thoughts on this one.

Luckystepho

Kevicho, I'd love to find ways to reduce tax! Any ideas where to look?