Third of Britons can't last a week on savings!

Accountant_Kerry

I wouldn't expect much help if you are unfortunate enough to fall on hard times tbh. Personally in this climate I feel if you don't have savings, income protection insurance, although expensive is a good idea.

Hermanmunster_2

tristan727 wrote: »

What's the point in saving anything if the govt. is just going to bail you out anyways, through either the welfare state or the low interest policy?

Unfortunately the government only bails you out with serious money if you are a BANK .

If you are a normal person you get very little and probably even less shortly!

KPR11

LeeSouthEast wrote: »

cut back on my food spending (down from £100 to £50)

:eek: what do you intend to eat? lentil soup everyday?

lilac_lady

Savings = independence- something some people will never understand. If you're young, save a bit and spend a bit enjoying your life.

vaporate

lilac_lady wrote: »

Savings = independence- something some people will never understand. If you're young, save a bit and spend a bit enjoying your life.

My thoughts exactly.

leahciM

tristan727 wrote: »

What's the point in saving anything if the govt. is just going to bail you out anyways, through either the welfare state or the low interest policy?

Surely this is a troll post?

leahciM

One of the main driving forces behind me saving (and at the moment I'm much more in cash than I am in any type of investment) is that it is always great to look at my online account and see a nice, fat number winking at me from my savings account.

bristol_pilot

Being young and poor is one thing (I didn't mind it at the time), but the prospect of being old and/or sick and poor is frightening. It doesn't matter much that all those 20-somethings splash their cash up the proverbial wall every weekend, when we become older and wiser the savings habit kicks in. I suspect the 'third of Britons' are mostly students, young workers, unemployed or have a partner who is minted.

blueberrypie

LeeSouthEast wrote: »

I just worked out that on a full time minimum wage income (£733), I can (if I get rid of the car, which I won't need), still save £850 a year. And that's living in one of the most expensive cities in the south east of England (albeit not alone). To do this I stopped my regular share trading investment, cut back on my food spending (down from £100 to £50), and that was about it.

KPR11 wrote: »

:eek: what do you intend to eat? lentil soup everyday?

Not a bit necessary. A project from the MSE Old-Style Board resulted in this website, which demonstrates how to feed a family of four for £100/month (with plenty of variety and all nutritional needs covered):

http://www.cheap-family-recipes.org.uk/index.html

KPR11

blueberrypie wrote: »

Not a bit necessary. A project from the MSE Old-Style Board resulted in this website, which demonstrates how to feed a family of four for £100/month (with plenty of variety and all nutritional needs covered):

http://www.cheap-family-recipes.org.uk/index.html

Thanks BBP!:D