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

tara747

http://www.bbc.co.uk/news/business-37504449


This is pretty shocking, isn't it? :eek:

Zola.

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

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

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

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...

Old_Git

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.

Browntoa

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

Milko

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

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

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)

qwert_yuiop

saverbuyer wrote: »

I also want to enjoy life when I'm retired at 60

Is that still possible?