The cost of living

cheesetoast

fatbeetle wrote: »

How much income (monthly/annually,) do you need to have a reasonable lifestyle in the UK?

Depends what your definition of "reasonable" is. Depends if you smoke, drink, or have any other expensive vices that may take priority in life. Depends if you're truly happy shopping at Lidl, or whether you'd rather drown yourself than shop anywhere other than Waitrose or the Harrods Food Hall.

greenglide

The other option is to cost 'everything' up - clearly it is necessary to make estimates so it can never be scientific.

Or, of course, you could do both!

I would never be happy relying on a list of the obvious costs and an attempt to add them all up without some kind of validation.

Capital is important to me as well, easier to survive the unexpected that way.

Triumph13

cheesetoast wrote: »

Depends if you're truly happy shopping at Lidl, or whether you'd rather drown yourself than shop anywhere other than Waitrose or the Harrods Food Hall.

For me the secret of happiness is shopping at Lidl because you can, not because you have to.

eastcorkram

Some odd comments here about how long stuff lasts! Our fridge is about 12 years old, the cooker is ten, washing machine also ten. Never had any issues with any of them.

saver861

Goldiegirl wrote: »

I think you are very pessimistic.

Nope - my point is, if you are budgeting for such items and you take the worst case scenario, e.g. 5 years for white goods then you are prepared. It is entirely possible they will last longer and we have some that are around 7 years old. Conversely, we just replaced the washing machine with one that was just over 4 years old.

Goldiegirl wrote: »

My washing machine is 10 years old, and it is still perfectly functional.


I keep my freezer in the garage (yes, it functions at low temperatures). The first one I had lasted 28 years.

Well it would depend on the amount of usage but its likely if you have older machines then you have lost a percentage cost of a new model in efficiency costs.

Goldiegirl wrote: »

I think people will prepare for these expenses based on their own experiences, but I think you must have been very unlucky with your white goods!

There is a mean time to failure for devices, which is not scientific but is indicative. However, see following quote from the white goods association.

Over the past decade or two appliance prices have, in real terms, dropped quite markedly largely due to consumer and retailer demand for lower and lower cost appliances. The erosion of prices has had several effects on the appliances themselves and a massive effect on the industry in general.
The average lifespan of appliances has dropped in relation to the prices.
Now, over 80% of all washing machines as an example sold cost under £500. Over 40% cost under £300. Obviously these cheaper products do not have the same build quality, performance or longevity and therefore the average lifespan has dropped from over ten years to under seven years and it is not unusual for cheaper appliances to only last a few years now.

The point being if you got 28 years out of your last freezer or 13 years out of your last fridge - its high likely you aint gonna see those figures again.

Thrugelmir

Goldiegirl wrote: »

The first one I had lasted 28 years. The hinge on the door broke in the end, but apart from that it was a perfectly functional freezer.

Functional perhaps as it worked. Efficient that's another matter.

fatbeetle

@atush, I have paid into the UK National insurance for enough years to get a state pension at age 67.

saver861

Given that the differences in running cost can be over £60 per year between models then you may well have paid a few times over to keep your old model. All those with old models might well look at their costs in terms of efficiency.

Goldiegirl wrote: »

I keep my freezer in the garage (yes, it functions at low temperatures). The first one I had lasted 28 years.

This quote from Which:
And if you bought your appliances before September 1999, they could have much lower efficiency ratings and guzzle far more energy than they would be allowed to if sold today.

I think it is likely this 28 year old freezer has cost you somewhat more than you may have realised!!

Goldiegirl

saver861 wrote: »

Given that the differences in running cost can be over £60 per year between models then you may well have paid a few times over to keep your old model. All those with old models might well look at their costs in terms of efficiency.





This quote from Which:
And if you bought your appliances before September 1999, they could have much lower efficiency ratings and guzzle far more energy than they would be allowed to if sold today.

I think it is likely this 28 year old freezer has cost you somewhat more than you may have realised!!

Considering I got rid of my 28 year old freezer in 2009, it's water under the bridge now, and I'm not going to lose sleep over a few £60's from years ago!

maxie014

Some of the running cost claims! like spending £4000 on a boiler,to save £80 a year,the boiler lifespan is 10 years if your lucky,plus service costs.
I only did cse maths at school but them numbers dont add up to me if youve got a back boiler which keeps chugging on!
White goods can be got very cheaply now,ive got a 5 plus year old fridge cost a £100,when it goes it gets replaced with another £100 fridge.