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

qwert_yuiop

Wages are lower in Wales, English north east and East Midlands. Cost of living is slightly lower due to local taxes (rates/council tax) being less.

x12yhp

A lot depends on your lifestyle and motivation when it comes to saving. Things like nights out, drinking and smoking cost a fortune. Even carry out food. As a young family, we probably have a night out per month, perhaps 10-20 pounds a month on a few drinks over the whole month and not a penny on smoking. We have min wage and benefit living relatives who are out every weekend and will smoke and drink their way through our annual spend every month. We have absolutely no necessity to be cautious, they have every need. But do they listen when you point out the easy tenner a week that could be saved? In many cases these people could save nearly a grand a year by cutting down on luxuries. The ones who do listen invariably are the ones who find themselves making good in years to come and you rarely hear too much from them. The ones who ignore are the ones who continue struggling and complaining, year after year.

qwert_yuiop

Takeaway food is an extravagance. I've a friend has a chip shop, whose calculations are based on the meals being priced at ten times the cost of ingredients. Ice cream is worse - £5 of supplies is sold as £110 of 99s.

motorguy

qwert_yuiop wrote: »

Takeaway food is an extravagance. I've a friend has a chip shop, whose calculations are based on the meals being priced at ten times the cost of ingredients. Ice cream is worse - £5 of supplies is sold as £110 of 99s.

Its only an extravagance if you cant otherwise afford it.

qwert_yuiop

Well indeed. Nothing like a 99 on a hot day.

Zola.

Or a cold beer

saverbuyer

motorguy wrote: »

Its only an extravagance if you cant otherwise afford it.

True. I wonder will many appreciate the flavor of a chicken fried rice in 30 year's time, when they are eating tinned curry. Having saved <£100.

RikM

Hot day? I'd have to think back a few years for one of those...

mmackey234

I agree,
Relying on a state pension would be silly, I am planning for the future being 28 so that hopefully I wont be in that situation. However I realize some people might not have a choice. The world is a sad place & dog eat dog mentality unfortunately, part of the reason why I think Jeremy Corbyn would be a good option for PM if he were to implement his plan. .

qwert_yuiop

I've got this planned. I'm self employed, so once Jeremy is pm (cause it's a certainty, isn't it?), I'm going to work really hard until I reach the high tax bracket, which will be about £18,000. Then I'm going to chill for the rest of the year. No point in paying 70% tax or something.
We'll be poor, but have loads of free time. Quite looking forward to it.