7 million people face money woes(7 working million)

chewmylegoff

wotsthat wrote: »

It won't happen and instead we'll continue with questions like "would you struggle if a large and unexpected bill arrived".

or even "would you struggle if a large and unexpected bill which you couldn't afford to pay arrived". very helpful information garnered from questions like that.

vivatifosi

chewmylegoff wrote: »

or even "would you struggle if a large and unexpected bill which you couldn't afford to pay arrived". very helpful information garnered from questions like that.

When I saw this article originally the thing that struck me was that the survey was by Experian. I'm amazed that people will tell Experian that they are struggling. Sure it's a different part of the organisation... But voluntarily tell a credit reference agency that's called you that you might struggle to pay a bill. What's that about? You can just imagine what would happen if countries were that honest and Standard and Poors just happened to phone up and ask a couple of questions.

movilogo

When I saw this article originally the thing that struck me was that the survey was by Experian. I'm amazed that people will tell Experian that they are struggling.

Experian looked at those people's credit history (i.e. whether they missed payments in the past) and then applied some mathematical formulas to calculate how many of them are likely to do same again in near future.

vivatifosi

movilogo wrote: »

Experian looked at those people's credit history (i.e. whether they missed payments in the past) and then applied some mathematical formulas to calculate how many of them are likely to do same again in near future.

Ah, so they didn't ask them the questions. That makes more sense. Thanks.

ukcarper

After reading the guardian article I see it says people who are in trouble are couples with not children with a gross income of £12000 to £29000 and couples with 2 children with gross income of £17000 to £41000. I can see the lower levels struggling but if you can’t live on £41k you are doing something wrong.

The_White_Horse

ukcarper wrote: »

After reading the guardian article I see it says people who are in trouble are couples with not children with a gross income of £12000 to £29000 and couples with 2 children with gross income of £17000 to £41000. I can see the lower levels struggling but if you can’t live on £41k you are doing something wrong.

£41k for a family of 4 is a pittance, especially if is a one earner family, taxed to the hilt. that is 3400 a month pre tax, about 2500 after.

in this day and age, a mortgage (or rent) on an average family home in London or home counties can be the best part of 1500 easily. that leaves them with 1000. then you need to add in council tax, say 150, car costs say 150, insurance and utilities say 200 ish, say loan repayments of 100, say other general bills at 100? that leaves a family of 4 to feed themselves, get clothes, haircuts and everything else - 300 for the month. not a fortune by any means.

ukcarper

The_White_Horse wrote: »

£41k for a family of 4 is a pittance, especially if is a one earner family, taxed to the hilt. that is 3400 a month pre tax, about 2500 after.

in this day and age, a mortgage (or rent) on an average family home in London or home counties can be the best part of 1500 easily. that leaves them with 1000. then you need to add in council tax, say 150, car costs say 150, insurance and utilities say 200 ish, say loan repayments of 100, say other general bills at 100? that leaves a family of 4 to feed themselves, get clothes, haircuts and everything else - 300 for the month. not a fortune by any means.

Funny that as I know a few people living fairly well on a lot less than that

macaque_2

torbrex wrote: »

It is about time that people learned to adapt their lifestyle to their income rather than winge about how their income is not enough to support their lifestyle.
Smoking, drinking, holidays, X-box's etc are not essentials, they are luxuries that should only be indulged in if there is enough money left after real essentials.
I get fed up hearing about how poor a friend of mine claims to be but that does not stop her having the best smart phone, laptop, mp3 player and top of the range Kindle.

The following people endorsed the above regrettable post.

angelsmomma (Today), gingeralan (Yesterday), heathcote123 (Yesterday), martyn4764 (Yesterday), michaels (Yesterday), Mr. Pricklepants (Yesterday), nightwatchman (Today), Pete111 (Today), worldtraveller (Yesterday), Zekko (Yesterday).

They either have no heart or no idea how brutal life is like for many people at the moment.

wotsthat

macaque wrote: »

They either have no heart or no idea how brutal life is like for many people at the moment.

Did this survey shed any light on why these 7 million people 'face money woes'?

It didn't and one of the sad facts is likely to be that for a decent proportion their woes are self-inflicted.

I'm afraid this survey's only intention was to demonstrate that things are terrible without shedding any light on the how or why.

Pete111

macaque wrote: »

The following people endorsed the above regrettable post.



They either have no heart or no idea how brutal life is like for many people at the moment.

Oh grow up you Silly Monkey - you want 'Brutal', try Syria.