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

Accountant_Kerry

Coeus wrote: »

Good points! For me it's not so much of a risk. I'm a part-qualified accountant so managing finance is what I do best. Personally as you may have gathered from my original post I am very disciplined.

I very much hate the idea of saving into a pension pot and dying early with nothing passed onto family from that investment. At least with ISA's the dividend/interest stream (and the investments themselves) will entirely pass on in event of my death (subject to IHT).

Also, the wife will do as she is told.

And if you go bankrupt you'll be out of the profession anyway.

Don't assume that all accountants are good with their own money, I know many fully qualified accountants that are not good with managing their money.

MrOrchard

vaporate wrote: »

£733 in rent?!!

lol crazy

This can only be from someone who's never lived in London!

Orpheo

When your wife calls to tell you that the cambelt has snapped on the car , it makes you happy that you have savings.



:sad:

:undecided

:think:

:cool2:

Savings [STRIKE]£X4,500[/STRIKE] £X3,300

Coeus

Accountant_Kerry wrote: »

And if you go bankrupt you'll be out of the profession anyway.

Don't assume that all accountants are good with their own money, I know many fully qualified accountants that are not good with managing their money.

Hence my note about myself being very disciplined.

leepwbriggs

cashbackproblems wrote: »

...And ppl saying to save 3 months of ur salary are deluded, it takes months/yrs now to get another job so 3 months wages wouldnt get you far, i think you need more like 1yrs wage!...

Depends on how much you get paid. if you can live off 25% of your monthly salary, 3 months salary saved would be enough for you to live of for 1 year if you lost your job.

molerat

vaporate wrote: »

£733 in rent?!!

lol crazy

Agreed. At least that is £12748 pa I do not need to earn :eek:

LeeSouthEast

KPR11 wrote: »

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

It's entirely possible to live healthily on less than this per person a month. I just choose not to! If I needed to, I would.

LeeSouthEast

bristol_pilot wrote: »

And who pays your housing costs? Your partner perhaps or maybe the taxpayer? My rent alone is more than £733. Even a houseshare round my area costs £450+. Cutting back on food by £50 or so is trival in comparison with fixed costs like rent and council tax.

I do. Why assume I suddenly rely on the person I live with or the tax payer? My half of the rent and all bills is £514 a month. My other outgoings easily fit within the £733 mentioned, without claiming a single benefit.

sarflee

From what we hear, savings are the least of a lot of peoples problems. First they need to learn to live within their means, ie big balances on credit cards etc. I know of a few people who have say 5k in savings but have the same if not more on credit cards. Bizarre!!

vaporate

MrOrchard wrote: »

This can only be from someone who's never lived in London!

No just someone who's not a mug.

You can easily house share for say £450.

As for living in Londistan, anything to escape fighting over the train/tube against drones in ties every flippin morning lol