I have £5000 savings at 35. Is my life over?

aj23_2

Terry_Towelling wrote: »

You've misunderstood me @aj23. You were talking about the morals of paying for what you use (quite right - agree fully) and then went on to say that you chose to self-fund your education. The point I was making (obviously not very well, it seems) is that you didn't self-fund, your parents funded you and it might seem a bit galling to some to hear you taking the moral high-ground because you come from a better-off family.

And the other point is that taking the loan route and then not having to repay it all might make the whole process more affordable and attainable for those who have no parental funding. I fully understand the moral argument that not paying for what you use is dubious and that perhaps you shouldn't expect the tax-payer to pick up the tab for you - but then, I guess that is no different to the bad old days when the tax-payer footed most of the bill anyway through the grant system.

So, tell me @aj23 if the grant system had still existed (and if the 'means test' meant you qualified for it) would you have used it, or would you still have got your parents to pay for you? And, would you be saying to all those students who did take a grant, that their mentality is wrong because they aren't paying for it themselves?

Just curious

I know, I'm just saying.

If my parents hadn't of paid, because they want me not to be in debt, I wouldn't have gone and I would have got a job instead. To be honest, the people from my school who didn't go to uni were in a much better position than the rest of us over those 3/4 years. Three years of work, pay rises, promotions, in a workplace pension, some had got a house, etc.

I don't mind if people take loans or grants. I just think it should be paid back. Obviously grants are partly based on household income and don't need to be paid back. I was against raising the threshold at which point you make student loan repayments.

Terry_Towelling

aj23 wrote: »

I don't mind if people take loans or grants. I just think it should be paid back. Obviously grants are partly based on household income and don't need to be paid back. I was against raising the threshold at which point you make student loan repayments.

Does that mean you intend to pay back your parents? Just teasing!:) Feel free to tease back.

Looks like your current income is such that you wouldn't be paying a loan back yet (if you'd had one), so your parents could have invested all that cash and then helped you with repayments as and when it became necessary. The investment return would probably have more than covered the additional loan interest. - just saying:)

Were your two degrees vocational and do you have a plan of action for using them in a future career?

atush

aj23 wrote: »

I've already said I help in other ways, didn't you read what I said in response? I don't need to be told I should pay one of their bills each month. I have my own credit card for my own use, building a credit rating.

Like I keep saying, each to their own.

Or pay for holidays as you have, meals out etc.

I did read it, too bad you didnt read mine properly.

Do whatever you like, but as you are quite rude dont expect people to take it.

I expressed hope you were helping your parents, you took it as an insult. It wasnt and wasnt meant to be.

atush

Does that mean you intend to pay back your parents?

Geez if I had said that I would havee been lynched lol.

I hope my 3 boys are all super sucessfull and earns loads. And I hope they are happy. Will be enough for me, but if they feel like paying for a holiday for me or taking me out to eat when I am old and grey? I'll take it.

Terry_Towelling

atush wrote: »

Geez if I had said that I would havee been lynched lol.

I hope my 3 boys are all super sucessfull and earns loads. And I hope they are happy. Will be enough for me, but if they feel like paying for a holiday for me or taking me out to eat when I am old and grey? I'll take it.

I probably will be lynched, but I don't mind. A little bit of teasing can sometimes make people think about their attitudes (not that mine is perfect).

I hope you get some appreciation 'pay-back' sooner rather than later. Things can happen as you age to stop you from being able to enjoy appreciation and love.

aj23_2

atush wrote: »

I did read it, too bad you didnt read mine properly.

Do whatever you like, but as you are quite rude dont expect people to take it.

I expressed hope you were helping your parents, you took it as an insult. It wasnt and wasnt meant to be.

I said in my first reply to you that I do other things to help out despite their refusal to take rent off me, both financially and non-finance related. But you continued to tell me and suggest what you hope I should be doing.

I haven't been rude, it's called conversation. I only pointed out that you weren't reading what I was saying. I haven't taken anything as an insult, I'm not that easily offended.

aj23_2

Terry_Towelling wrote: »

Does that mean you intend to pay back your parents? Just teasing!:) Feel free to tease back.

Looks like your current income is such that you wouldn't be paying a loan back yet (if you'd had one), so your parents could have invested all that cash and then helped you with repayments as and when it became necessary. The investment return would probably have more than covered the additional loan interest. - just saying:)

Were your two degrees vocational and do you have a plan of action for using them in a future career?

If I were in a position to, I would. Yeah but I wouldn't have known what my income would be before the degree. Either way, I still wouldn't have wanted the debt around my neck.

I don't use either of the degrees. Couldn't get a job in it.

Mr_Costcutter

Another thread in which the OP fails to return to.....

System

Good thread that might be helpful, interesting and enlightening for the OP.


https://forums.moneysavingexpert.com/discussion/4938373/average-amount-of-savings-for-a-30-year-old


People from different walks of life, 30+, talking about their savings (or lack of), interesting, and good musing.

Terry_Towelling

aj23 wrote: »

I still wouldn't have wanted the debt around my neck.

Of course you wouldn't and neither do the countless thousands who have no choice but to take a loan to get the education they need to pursue their chosen career. I doubt they would be happy with someone who was self-funded (sorry, parent-funded) telling them that their morals are wrong if they take a student loan and don't pay it all back or that someone in a position of relative wealth actually wanted to make it harder for them by keeping the repayment earning-level low. Are you able to imagine what it might be like to be in their shoes?

aj23 wrote: »

I don't use either of the degrees. Couldn't get a job in it.

So, despite the fact that education is generally seen as a good thing, would you say your education fees were a wise investment?

Sorry to keep badgering you @aj23 but your views are probably skewed a little by your relatively well-off upbringing.

As for OP, they crafted a very clever thread in which they openly stated they had no money worries which then led on to what we are now discussing and I very much doubt they will come back to the forum. I have PM'ed them to see if they are still listening but no response. Hopefully they haven't carried out their threat.