The impossible dream

Tahlullah.H

Well, I was with Together Energy on a reasonable fixed deal.  Lets see where I end up!  As if fuel costs weren't stupidly high already.

badmemory

The current SVR is bad enough - I'm dreading the April one.  I've already had an almost 60% increase & I expect the next to be another about 50% at least, so that will be an almost 140% increase in less than a year.  I'm having to cancel all my charitable giving & magazines that aren't via Tesco clubcard.  I can't risk my savings getting too depleted as I will have no way of replacing them.  My pension is going up by a massive 3.1% & I still don't believe the official figures because everything I spend on had already gone up by more than that.

Tahlullah.H

Thanks badmemory.  I can't even envisage a 140% increase, it terrifies me as to how we are meant to find the money for this.  I remember my parents saying I was supposed to save for a rainy day.  But here we are, when the rainy day is turning into a year.  Plus any income we have has to stretch until its pips squeak.  I understand stopping the charitable payments and magazines because going forward, that money has to be utilise somewhere else.  However, I hope that when April comes, you are in a better position and can balance your budget without having to give up all the things you enjoy entirely.  I can't even think what I will have to give up.  No doubt, it will come to me loud and clear when my emergency fund has depleted.

badmemory

A few years ago the interest on my savings would have covered the shortfall but now I don't stand a chance.  I only really have my state pension plus a VERY small personal one & whilst it is more than the basic £140 ish because of SERPS it is only going up by 3.1% so its just not going to cut it & I've just read an article that says the energy price rise next October is likely to be even higher.  Still it won't bother those millionaire MPs so don't expect it to get sorted any time soon.  I loved reading about what they pay for energy in their grace & favour apartments in Downing Street - max 10% of their ministerial earnings which doesn't include their MP pay.  I wish that was all mine was.  Freeloaders every one.

Tahlullah.H

Interest on savings?  What is this strange thing you speak of?  

Will you be entitled to any of the support offered to people in receipt of state pensions?  Not a lot, but to be honest, better than nothing.  And don't get me started on those in power who are sitting there not having to pay for the things that the serfs have to pay for.

With fuel for cars going stupidly high, the push towards purchasing electric vehicles, the increase in heating bills, the push towards Air Source Heat Pumps, the cost of food going through the roof, increases in NI contributions and the talk of removing free prescriptions (have I missed anything), we are being reminded that we should be pleased to live in a feudalist oligarch paradise, where we are honoured to live in the cold and poverty, being paid £2 a week when the rent is £3, after working a 25 hr day.

Thank you oh great illustrious leader for the merciful beheadings!

badmemory

I am too old to land up having to pay for prescriptions, although they have been free anyway for over 30 years thankfully.  I remember a neighbour having a prescription with 3 items & having to choose which one she got because that was all she could afford.  I also don't work so no NI to pay for.  But I do remember being absolutely gobsmacked to find that the 6 years I worked after retirement age I didn't have to pay. 

Re the interest rates, I remember opening a current account where for the first year I got 8% instead of the normal 6% on balances.  Mind you I also remember that for a couple of months I actually paid 17% on my mortgage, now that was seriously scary.  My insurance is still about a third of what I had to pay then when it had to be done through the mortgage co. 

Each generation seems to have their cross to bear, the current one seems to be house prices & the availability of them.  Swings & roundabouts.  I think a lot of the difference is that we were not able to run up debts in the same way.  We were only allowed one HP agreement.  I have still never bought my own settee as it never became a priority as some family members changed theirs with the weather.

savingholmes

I think energy bills could force people into homelessness if they don't manage their money extremely well. I have been moving to SOLR for about 4 months - and haven't paid anything for the last two so am dreading my first bill. Also the idiots in their wisdom have sent me to 2 different SOLRs and presumably my credit is only going to one of them - it seems the gas - and yet I use more electricity!!

badmemory

I would love to know where my £350 has gone to.  Certainly not back to me!  They even took a DD days after they went kaput.

ETA Thats 4 months now!

savingholmes

Good luck @badmemory

Tahlullah.H

I do agree that different generations face different challenges.  Yes, I remember having an interest rate of 15% and the sheer panic it engendered.  I also remember wanting to borrow £40k and couldn't find any way of raising that money because I was only allowed once source of borrowing.  I also remember being extraordinarily pleased when I bought my first tiny little terraced house, with no thought in my head of jumping straight to a fully fitted, perfectly decorated detached property in a new development.

I cannot imagine what it would have been like to have to choose which prescription to fill.  How do you make that choice?  But, there is the chance that it's the way we will be going shortly.
And now of course, the government wanting to limit the size of windows in new builds and dictate what sort of conservatory we have added to our homes, or not.  The level of control is becoming frightening.  Add that to the fact you may have to choose to heat or eat, I don't know where we are going as a country, and I am not even sure it is still worthwhile striving to pay off the mortgage, when the government are putting so many restrictions on your choice of what you do with your castle.

It is the younger generation who will fall foul of these changes.  I know that I can stay in my house, not meeting the rules and regulations they are bringing in - as long as they don't introduce them retrospectively.  But the younger generation will have to buy the new builds along with their restrictions and if they choose to step away from the properties which are designated as suitable, and buy a house which doesn't comply, the mortgage may be restricted!  So, the truly interesting houses will only be available to those who can afford to pay cash.

We live in interesting times.