BBC: '57% of adults in NI have less than £100 in savings'

tara747
tara747 Posts: 10,238
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http://www.bbc.co.uk/news/business-37504449


This is pretty shocking, isn't it? :eek:
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  • Zola.
    Zola. Posts: 2,204
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    Top of the league in something!

    I think it is a bit misleading.

    Also noted NI is the happiest place to live the UK apparently. People spending their money having fun it seems...
  • saverbuyer
    saverbuyer Posts: 2,556 Forumite
    Pretty scary IMO. I'd be interested to know what the figure was for say 1990 and 2000 before the mad debt boom took off.


    People don't save now. The debt = wealth attitude seems to be the new norm. If I only had £100 in the bank account for emergencies I couldn't sleep at night.
  • RikM
    RikM Posts: 810
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    Wow. I don't think I've had that little in savings since I was a kid.
    Maybe they're only counting stuff outside a current account, rather than looking at the month to month surplus... It may only count as "saving" if you separate it out.
  • tara747
    tara747 Posts: 10,238
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    Zola. wrote: »
    Top of the league in something!

    I think it is a bit misleading.

    Also noted NI is the happiest place to live the UK apparently. People spending their money having fun it seems...


    I wouldn't be happy if I had <£100 in savings! :eek:


    saverbuyer wrote: »
    Pretty scary IMO. I'd be interested to know what the figure was for say 1990 and 2000 before the mad debt boom took off.


    People don't save now. The debt = wealth attitude seems to be the new norm. If I only had £100 in the bank account for emergencies I couldn't sleep at night.



    Same here. And yes, it would be interesting to see historical figures (adjusted for inflation).


    RikM wrote: »
    Wow. I don't think I've had that little in savings since I was a kid.
    Maybe they're only counting stuff outside a current account, rather than looking at the month to month surplus... It may only count as "saving" if you separate it out.


    Maybe. But still...
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • Old_Git
    Old_Git Posts: 4,743
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    Lots of people on low income ,paying a high percentage of their income on
    basics like rent ,heat ,electric .
    Ten years ago a single parent would have got most of her rent covered by housing benefit .Now there could be a shortfall of £20 per week .

    I know of one disabled person who has to pay £17 per week on top of housing benefit .I know another who pays £40 on top of housing benefit.
    "Do not regret growing older, it's a privilege denied to many"
  • Browntoa
    Browntoa Posts: 49,272
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    When I grew up we had no savings and lived on what my dads pay packet was each week , he was a manual worker on building sites
    I'm a Forum Ambassador and I support the Forum Team on the Shopping and Freebies, Phones and TV and Over 50s boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing . All views are my own and not the official line of MoneySavingExpert.
  • Milko
    Milko Posts: 658
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    Just under 20 yrs ago I bought my first house as a single guy. I owned my own car, paid my mortgage & went on holidays with my mates. On average, I had around £60/wk disposable income.


    Then I got married, still had my car, & went on holidays but now had a bigger mortgage, wedding costs & a lot less disposable income.


    Then came the kids ... zero disposable income but we still have holidays, a house, cars etc...


    At no point had I any real savings to speak off but I certainly enjoy myself holidaying, socialising & make sure my family has what they want & need.


    I've still no real savings ... but life's short, so enjoy it.
    Your £100+ sitting in a bank won't pay for your order of service let alone a coffin
  • saverbuyer
    saverbuyer Posts: 2,556 Forumite
    edited 30 September 2016 at 10:12AM
    Milko wrote: »
    Just under 20 yrs ago I bought my first house as a single guy. I owned my own car, paid my mortgage & went on holidays with my mates. On average, I had around £60/wk disposable income.


    Then I got married, still had my car, & went on holidays but now had a bigger mortgage, wedding costs & a lot less disposable income.


    Then came the kids ... zero disposable income but we still have holidays, a house, cars etc...


    At no point had I any real savings to speak off but I certainly enjoy myself holidaying, socialising & make sure my family has what they want & need.


    I've still no real savings ... but life's short, so enjoy it.
    Your £100+ sitting in a bank won't pay for your order of service let alone a coffin


    I think that's the general attitude. Enjoy today. I like having money, I like enjoying life. I also want to enjoy life when I'm retired at 60 but probably wont have the same income. I will have savings.


    Pleasure today and pain tomorrow.


    Or less pleasure today and more pleasure tomorrow.


    How do people pay for the annual rates bill? The boiler blowing up? The new sofa? The new car?
  • Milko
    Milko Posts: 658
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    saverbuyer wrote: »
    Pleasure today and pain tomorrow. If & when it comes

    Or less pleasure today and more pleasure tomorrow. If & when it comes

    How do people pay for the annual rates bill? The boiler blowing up? The new sofa? The new car?
    Loans, credit cards, borrowing etc...



    After 2 funerals of friends yesterday and a few more over the last few years ... I'm kind of a life for the moment person (I'm also fortunate enough though that should the worst happen my family will be ok)
  • saverbuyer wrote: »
    I also want to enjoy life when I'm retired at 60

    Is that still possible?
    “What means that trump?” Timon of Athens by William Shakespeare
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