Why don't people look forward ?

Torry_Quine

jaylee3 wrote: »

In an ideal world, this having six months salary in the bank to 'fall back on,' would be a thing poohsticks. However, this is not a perfect world, and your 'ideals' are not doable for many many people. I also don't know anybody that regards their monthly income as a target that they MUST spend!

Realistically, it's rather more difficult to put it into practice to have 6 months salary in the bank - and keep it there. There is ALWAYS going to be stuff that you need/want that costs more than the 'spare money' from your wages.

If you own your own property/have a mortgage, there are always going to be repairs and maintenance to worry about, or a new kitchen or bathroom or windows or boiler. Nobody is going to have the multiple 1000s that these things are going to cost, so people take loans and finance, and this eats into any 'surplus' they may have.

Add to that, paying for every other 'life' thing: children, student loans, a wedding, a new car, your kids weddings, a few holidays, and general living, and you've not got much left.

The days are gone of good wages and low house prices and free uni fees and suchlike. Times are tough, everything is expensive, from house prices to car prices, from food to petrol, and most people have some kind of debt or finance.

I'm afraid life with 10 grand snuggled away in the bank for a 'rainy day' with no debt and a shedload of surplus dosh is a mere pipedream for many. And yes, a massive amount of people DON'T have lots of surplus cash. Some it is because they have squandered it on holidays and stuff, but mostly it's people who genuinely struggle month to month to make ends meet.

Sorry OP, but I think I find your post very naive. You are either very lucky, very wealthy, or very spoilt. Or possibly all three. And I am guessing you are of the older generation (ie; born before 1960.) I guess that because I don't know a single solitary person under 50 who would agree with your points. I am sure you know many though.

I am neither wealthy,spoilt or lucky. In fact due to poor health I can't work and my husband's line of work is not much above minimum wage. However we have always put having savings as a priority and have in the past had to live on savings for many,many months during long-term unemployment. I was also born after 1960 and have friends younger than me as well who would be horrified if they didn't have emergency money for several months ahead. Actually £10,000 would last me longer than six months and that's without cutting back. Maybe most people have some kind of debt or finance but I never have and couldn't live with that and would worry about paying it. That's one of the reasons the country is in the state it is. When windows were needed then they were paid from out of savings and if not then they woldn' have been bought until afforded.

Although some things need large amounts of money that doesn't mean everything you list. Personally for instance any car or holiday we've had has been paid for up-front. I for one couldn't go on holiday and hen have to pay for it when I got home and don't understand people who go into debt to buy gifts at Christmas.

Hermia

Sharon87 wrote: »

So they're increasing their outgoings when their salary goes up. Cause face it who wants to live in shared or small accommodating in their mid 30s onwards!

I have lived in the same rented one-bedroom flat since I started working and will be buying my first place this year. People think I am odd. Whenever I have had an increase in salary people have said why don't get another bedroom/a place with a garden etc etc. I'd rather save the money. I wouldn't have wanted to share in my 30s, but a small place is fine.

jaylee3

Torry_Quine wrote: »

I am neither wealthy,spoilt or lucky. In fact due to poor health I can't work and my husband's line of work is not much above minimum wage. However we have always put having savings as a priority and have in the past had to live on savings for many,many months during long-term unemployment. I was also born after 1960 and have friends younger than me as well who would be horrified if they didn't have emergency money for several months ahead. Actually £10,000 would last me longer than six months and that's without cutting back. Maybe most people have some kind of debt or finance but I never have and couldn't live with that and would worry about paying it. That's one of the reasons the country is in the state it is. When windows were needed then they were paid from out of savings and if not then they woldn' have been bought until afforded.

Although some things need large amounts of money that doesn't mean everything you list. Personally for instance any car or holiday we've had has been paid for up-front. I for one couldn't go on holiday and hen have to pay for it when I got home and don't understand people who go into debt to buy gifts at Christmas.

This one line (bolded) speaks volumes about your whole post, and proves most of what I said in my post is correct.

If you can make £10,000 last six months, when for many people, some £6,000 of that would be mortgage alone, then you have proven my point that some people are naive and clueless and judgemental.

You (like, I suspect the OP,) are both lucky, spoilt AND well-off. I am not sure in which order. Paying for a car up front? No debt or finance? Well bully for you!!!!! I am pleased for you that you have such a blessed life. But it is NOT LIKE THIS FOR EVERYONE.

Thanks for proving me right though. You're not living in the same world as many people; your post proves that. Probably best to not judge people when you know NOTHING about them, their circumstances, OR their outgoings.

Torry_Quine

jaylee3 wrote: »

This one line (bolded) speaks volumes about your whole post, and proves most of what I said in my post is correct.

If you can make £10,000 last six months, when for many people, more than half of that would be mortgage alone, then you have proven my point that some people are naive and clueless and judgemental.

You (like, I suspect the OP,) are both lucky, spoilt AND well-off. I am not sure in which order. Paying for a car up front? No debt or finance? Well bully for you!!!!! I am pleased for you that you have such a blessed life. But it is NOT LIKE THIS FOR EVERYONE.

Thanks for proving me right though. You're not living in the same world as many people; your post proves that. Probably best to not judge people when you know NOTHING about them, their circumstances, OR their outgoings.

I am not spoilt or lucky which you'd see if you read my whole post properly. Where did I judge anyone, what I said was some people have wrong priorities and saving up for something is seen as strange as they want instant gratification. For instance many people spend money they don't have on holidays which makes no sense to me at all.

When you have low income then yes £10,000 is a lot of money but those on higher wages should be saving more. The reason the money would last is because there are no debts, credit cards etc to pay and our home has been fully paid for by us so no mortgage although with rates as low as they are it wouldn't be a problem either. Our mortgage was paid off a few years ago.

I don't judge people but feel sorry for them and couldn't live like that. You know nothing about me but that doesn't stop you does it.:(

mgdavid

jaylee3 wrote: »

In an ideal world, this having six months salary in the bank to 'fall back on,' would be a thing poohsticks. However, this is not a perfect world, and your 'ideals' are not doable for many many people. I also don't know anybody that regards their monthly income as a target that they MUST spend!

Realistically, it's rather more difficult to put it into practice to have 6 months salary in the bank - and keep it there. There is ALWAYS going to be stuff that you need/want that costs more than the 'spare money' from your wages.

If you own your own property/have a mortgage, there are always going to be repairs and maintenance to worry about, or a new kitchen or bathroom or windows or boiler. Nobody is going to have the multiple 1000s that these things are going to cost, so people take loans and finance, and this eats into any 'surplus' they may have.

Add to that, paying for every other 'life' thing: children, student loans, a wedding, a new car, your kids weddings, a few holidays, and general living, and you've not got much left.

The days are gone of good wages and low house prices and free uni fees and suchlike. Times are tough, everything is expensive, from house prices to car prices, from food to petrol, and most people have some kind of debt or finance.

I'm afraid life with 10 grand snuggled away in the bank for a 'rainy day' with no debt and a shedload of surplus dosh is a mere pipedream for many. And yes, a massive amount of people DON'T have lots of surplus cash. Some it is because they have squandered it on holidays and stuff, but mostly it's people who genuinely struggle month to month to make ends meet.

Sorry OP, but I think I find your post very naive. You are either very lucky, very wealthy, or very spoilt. Or possibly all three. And I am guessing you are of the older generation (ie; born before 1960.) I guess that because I don't know a single solitary person under 50 who would agree with your points. I am sure you know many though.

no finer example of self-incrimination!
Nobody 'needs' a new kitchen, if they want one they should do what sensible people do and that is save up until you have enough to pay upfront, and get the best deal through doing so, thus saving even more money.
House maintenance? have you never heard of do-it-yourself?
I simply love your 'life' thing:
"children, student loans, a wedding, a new car, your kids weddings, a few holidays"
do you really not see that all of these things are optional and you have the power to decide whether or when to do it or not?
And you call another poster naive?
Pot-kettle-black!

Of course you must live your live how you wish - but please don't expect somebody else to bail you out should hard times ever hit you.

nonnatus

I don't expect anyone to "bail me out" in the future.


But I've never paid into a pension either. I live life on the edge and consider the whole thing to be a kind of looooong term gamble. Those of you stashing away large chunks of salary every month are effectively making a bet that you'll live long enough to spend it all after retirement.
What if your retirement leaves you in awful health? What if you die BEFORE you retire? Would you sit there at the end of your miserable life and think "I'm so glad I didn't have fun with that money whilst I was young and healthy. I get to spend it all on incontinence pads instead now - Yay!"


It's a gamble.


Which is not to say I haven't made SOME provisions... I have a years Lump sum money saved in case anything should happen to my working ability and hope that will keep my family afloat until I could sort myself out. I consider that VERY sensible.
My "pension contributions" have paid my mortgages. At any time, I could turn my houses into cash to have fun with, but then if I died early, my kids would benefit, not a greedy Pension Company.


I understand my "Plans" will infuriate some, but since a horrible thing happened when I was just 23, I became determined to live for TODAY and to enjoy every minute. I don't want to squirrel money away for when I'm old and infirm. Let the "OAP ME" deal with that when she gets there....!!!!

Rosemary7391

jaylee3 wrote: »

In an ideal world, this having six months salary in the bank to 'fall back on,' would be a thing poohsticks. However, this is not a perfect world, and your 'ideals' are not doable for many many people. I also don't know anybody that regards their monthly income as a target that they MUST spend!

Realistically, it's rather more difficult to put it into practice to have 6 months salary in the bank - and keep it there. There is ALWAYS going to be stuff that you need/want that costs more than the 'spare money' from your wages.

If you own your own property/have a mortgage, there are always going to be repairs and maintenance to worry about, or a new kitchen or bathroom or windows or boiler. Nobody is going to have the multiple 1000s that these things are going to cost, so people take loans and finance, and this eats into any 'surplus' they may have.

Add to that, paying for every other 'life' thing: children, student loans, a wedding, a new car, your kids weddings, a few holidays, and general living, and you've not got much left.

The days are gone of good wages and low house prices and free uni fees and suchlike. Times are tough, everything is expensive, from house prices to car prices, from food to petrol, and most people have some kind of debt or finance.

I'm afraid life with 10 grand snuggled away in the bank for a 'rainy day' with no debt and a shedload of surplus dosh is a mere pipedream for many. And yes, a massive amount of people DON'T have lots of surplus cash. Some it is because they have squandered it on holidays and stuff, but mostly it's people who genuinely struggle month to month to make ends meet.

Sorry OP, but I think I find your post very naive. You are either very lucky, very wealthy, or very spoilt. Or possibly all three. And I am guessing you are of the older generation (ie; born before 1960.) I guess that because I don't know a single solitary person under 50 who would agree with your points. I am sure you know many though.

I'm a person well under 50 who thinks that savings are important! As do many of my friends. Not spoilt, not wealthy, just realistic. Lucky that I've been brought up that way, I suppose.

'children, student loans, a wedding, a new car, your kids weddings, a few holidays, and general living,' should all be budgeted for - if you can't afford them, then don't have them or scale it back. And if having them means you've not a penny left until next payday, I would consider that unaffordable.

It is difficult to get 6 months savings if you're starting from a point where your outgoings are equal to or greater than your income, but if you start as soon as you leave home there is no reason why it shouldn't be achievable eventually. It may be hard work though!

Takeaway_Addict

Bitter Jaylee...much?

Noctu

jaylee3 wrote: »

In an ideal world, this having six months salary in the bank to 'fall back on,' would be a thing poohsticks. However, this is not a perfect world, and your 'ideals' are not doable for many many people. I also don't know anybody that regards their monthly income as a target that they MUST spend!

Realistically, it's rather more difficult to put it into practice to have 6 months salary in the bank - and keep it there. There is ALWAYS going to be stuff that you need/want that costs more than the 'spare money' from your wages.

If you own your own property/have a mortgage, there are always going to be repairs and maintenance to worry about, or a new kitchen or bathroom or windows or boiler. Nobody is going to have the multiple 1000s that these things are going to cost, so people take loans and finance, and this eats into any 'surplus' they may have.

Add to that, paying for every other 'life' thing: children, student loans, a wedding, a new car, your kids weddings, a few holidays, and general living, and you've not got much left.

The days are gone of good wages and low house prices and free uni fees and suchlike. Times are tough, everything is expensive, from house prices to car prices, from food to petrol, and most people have some kind of debt or finance.

I'm afraid life with 10 grand snuggled away in the bank for a 'rainy day' with no debt and a shedload of surplus dosh is a mere pipedream for many. And yes, a massive amount of people DON'T have lots of surplus cash. Some it is because they have squandered it on holidays and stuff, but mostly it's people who genuinely struggle month to month to make ends meet.

Sorry OP, but I think I find your post very naive. You are either very lucky, very wealthy, or very spoilt. Or possibly all three. And I am guessing you are of the older generation (ie; born before 1960.) I guess that because I don't know a single solitary person under 50 who would agree with your points. I am sure you know many though.

I'm 27, fairly recently married, a homeowner, and still a student (PhD).

I agree with the OP whole heartedly.

My OH was made redundant this time last year and didn't find work for 10 months. We had several thousand pounds in savings which helped to pay our bills and mortgage during that time. That was saved whilst we both earned significantly less than the average UK wage (and still do).

My family instilled in me the value of savings and not over-extending yourself and by God I was happy to have that money saved away when my OH lost his job.

I would love a new kitchen and bathroom but we can't afford it. The kitchen is the same cheap one that was there when we moved here 6 years ago, and the bathroom was a very cheap white suite from Wickes which we installed ourselves and tiled, laid new flooring etc ourselves. We couldn't afford to pay someone to do it and also keep saving for a rainy day - the rainy day which unfortunately came later! We cut our cloth accordingly with a view to the future and what may (and did) happen...

And no I'm not lucky, wealthy, or spoilt... just (I hope) sensible. Now that my OH is working again we're shovelling a fair percentage of our income into savings as before :money:

robatwork

jaylee3 wrote: »

You (like, I suspect the OP,) are both lucky, spoilt AND well-off. I am not sure in which order. Paying for a car up front? No debt or finance? Well bully for you!!!!! I am pleased for you that you have such a blessed life. But it is NOT LIKE THIS FOR EVERYONE.

Your previous post criticises judgmental attitudes.

You can buy an awful lot of pots and kettles with that £10,000.