Partner given up work now cant claim a penny

sunnyone

FBaby wrote: »

No I didn't miss it, but the problem is that too many don't 'save' it in the way they should. Even if they don't buy on credit (which most do), they buy it ahead of things that should come first, such as various insurance. Then they complain when they don't have cash to fix the car, or the boiler that's broken down, or are stuck with an expensive phone deal because they've lost their jobs.

Being financially secure is much more than having the cash to buy something, or assuming that current circumstances will remain as is in the next two/five years.

We have only ever bought what we could afford, we dont use credit "just because we can" or to "keep up with the Jones". We have been through the kind of massive, unexpected life changes that most people see in their nightmares, sudden disability due to high speed RTA leading to loss of employment, sudden serious ill health due to organ failure again leading to loss of employment, home suddenly unsuitable to live in due to disability etc. and we have survived and we still have savings for a rainy day.

We didnt have big wages, they were average, the house we bought (pre nightmares) was just a normal three bed semi which didnt over extend us, we saved something each pay day even if it was just a small amount that month it still all added up. We didnt have the latest of everything, we still dont and our kids have taken this on board. Dont get me wrong, we didnt go without anything, we holidayed every year, we had decent cars and everything else we needed but we didnt buy just for the sake of it.

We had kids when we could afford them, there is over 7 years between our kids because thats when we could afford them.

Many people have no common sense when it comes to money, they want it all and they want it now so when there is the slightest change in their circumstances they are up the creek without a paddle.

I believe that financial planning should be taught at school but even then I think that people are too set in their ways to change now, the pattern has become embedded in society and it would take a massive mind set to alter it.

There are many other planners like us on this site, I wonder why there are such big diffrences in mind set. it cant be upbringings because I know siblings which very diffrent attitudes to financial planning. So what is it?

PlymouthMaid

Radio rentals used to do TVs and Video recorders.

SkyeKnight

duchy wrote: »

When I was nineteen I got a mortgage -it was the first proper credit I'd ever had-we'd saved for a deposit , saved for a wedding etc . Now saving is deeply unfashionable and the attitude is why save when you can get credit. We are not instilling the save ethic young.

I think it must be a lot easier to deprive yourself of unnecessary wants for three years to get a mortgage at age 19, than for 20 years to get a mortgage at age 36. For a lot of people the distance away of the goal or the feeling that they will never save enough for a mortgage deposit stops them even trying.

dippy3103

PlymouthMaid wrote: »

Radio rentals used to do TVs and Video recorders.

My Gran had tv's from Radio Rentals