How much to live on

Organgrinder

louby40 said:

helensbiggestfan said:

Organgrinder.   Quite so......I learned at an early age that if I really wanted  something then I had to find the means.  I never say "I can't afford it". Instead I ask myself "how can I afford it".   I taught my children that good things don't just fall out of the sky and land in your lap.  You have to reach for them.  I now hear my eldest son say the same thing to his sons, it makes me smile.  

I am rereading Richard Templars "The Rules of Wealth". I originally bought my youngest, at the time spendthrift son, a copy because this little book explains it all better than I could. It's an easy read and one I throughly recommend.  

My son devoured it from cover to cover in one sitting and it changed his outlook forever.  He did a complete 180 degree turn in a day.  He went from being a hopeless spendthrift living from paycheque to paycheque  and getting nowhere to now being financially stable and effortlessly managing the tightrope of both enjoying the present (lovely home, nice holidays) whilst safeguarding his future, (two pension plans and a growing portfolio of investments). 

I can throughly recommend the book, it's simple, written in plain English that anyone can understand and the author is both compassionate and humorous in the way he gets his message across.  

The most important rule, his number 1 rule is that anyone can improve their financial situation because money is completely neutral - it doesn't care about your gender, your class, your lack of academic qualifications, your skin tone, your religion. 

If you live in a reasonably stable economy such as those found in The West, if you enjoy reasonable health and have access to learning materials, even if it's just a public library, then you can learn to build wealth, or at least make enough to furnish a reasonably comfortable lifestyle.  

He explains that what holds most people back is what he calls "money myths", often the myths that we grew up with, myths taught us by our parents, families, or our educational system. Myths that can be summed up by sayings such as "money is the root of all evil" or "rich people are all crooks" and so on.    These lessons which we just assimilated as we grew up can often lead to a victim mentality, where people think they are stuck in poverty and so look for someone else to blame - society, the government, the "fat cats" - anyone or anything to stop them assuming responsibility for their own actions.  You see this all the time, negativity, learned hopelessness and an unwillingness to even try.  

I make no secret of the fact that I was born into a very modest working class household and that, unfortunately, despite being reasonably intelligent and winning a scholarship to a prestigious grammar school,  for me education was not my leg up.  (I did eventually go to university but not until I was 40). University or further education was not on the table. I had to leave school at 15 without a single academic qualification and make my own way.  

I hated being poor, always being told "we can't afford it".  I resolved at a very early age that I would not accept a life of poverty. I would move heaven and earth to build a better life.  I got my first job at 13 - a Saturday shampoo girl in a hairdressing salon and never looked back.  

 I am already retired but I am always open to new ideas, to creating sideline businesses, multiple income streams. I'm always happy to find ways to maximise my income to maximise my lifestyle.  I like comfort, a nice home, good food, life's little luxuries and indulgences.  I like to travel in comfort and style, stay in nice hotels.  I haven't travelled in a while.  Instead I have recently moved house and I also invested in some very expensive dental work.   £15k worth.  😱. 

I don't mind, I love my new home and I am very pleased with my new Hollywood smile. 😁.   I shall travel again when I am good and ready.  

I may be 74 but I still have dreams and plans........my mantra now is "not done yet". 

I LOVE your mantra! Thanks for sharing a bit of your life. 

I too am from a working class background although I had parents who lived in Australia for a number of years (£10 poms) which instilled a love of travel throughout their lives, plus now mine and my siblings. They  began a lucrative business in their 40's which meant they could achieve financial stability and retired in their 60's and spent 12 years living on a canal boat for 6 months of the year, travelling up and down the canals, making new friends and having so many adventures.

Now both in their 80's they swapped the little boat for cruise ships and have been on 20+ cruises over the past 10 years. We're hoping to go on a cruise with them next summer if my dad can get insurance. 

So much love and respect for them. 

My grandfathers were both steelworkers. My parents held admin jobs but after children my mother never worked.

We got by. We didn't have much. A ropey old second hand car and a week in a caravan were the closest we got to luxury.

It's fine to say the equivalent of "make the most of what you've got" if that's what you believe. 

But for many mse devotees the reason we save money on our bills and shopping is so we get to do more with what we have.

If my clubcard vouchers get me a holiday in Krakow for £120 I'll spend what I've saved on another holiday.

In two years I'll be fully retired and I fully intend to enjoy it to the max with whatever I have or indeed whatever I can get my hands on. If companies want to try and bribe me to switch to them I'll happily take their money. Stoozing and Topcashback alone will net me approx £2,500 this year. It's not a fortune but as I always say, it provides opportunities I might otherwise not be able to afford and I'm grateful to anyone who has provided suggestions that allow me to do so.

QrizB

helensbiggestfan said:

not sure if Asda in the U.K. are still part of Walmart. I think it was a short lived experiment and they might have parted ways again.  Anyway if you search you tube for "People of Walmart" there are some very eye opening videos featuring Walmart Shoppers.  😉

Walmart bought ASDA for £6.7bn in 1999, and sold it in 2021 for £6.8bn. Not a great return on investment there.

The current owners are private equity orgs who financed the purchase through loans and asset stripping. ASDA is losing market share and it's not yet clear whether this gamble is going to pay off.

helensbiggestfan

Dizee123 said:

helensbiggestfan said:

Yesterday he converted the bulkhead cupboard above the stairs into an overspill wardrobe for my winter coats.  Yes I have that many........too many really but I love them all.   

True story. When I was a child my family were quite poor and my mother, bless her heart, who wasn't the best housekeeper and didn't seem to feel the cold, never saw to it that I had a warm winter coat, (or gloves, scarves and hats despite having to walk 3 miles each way to school). All I had was a school gabardine Mac. I do feel the cold and I was always freezing and miserable.  As soon as I started work I started buying coats and I've never stopped since.  All colours, all weights, currently have about 20.  

Just can't seem to part with any.  You don't need to be a psychologist to work that one out..😁

This I definitely get.  My stepfather was a compulsive gambler and on one memorable occasion he pawned our winter coats.  My poor mother was in tears as there were no savings to replace them and second hand shops were much  more limited back then, mainly the occasional jumble sale.  There was also a sense of pride to overcome to go to what was perceived as 'charity'.   I remember going to school in Scotland in the snow wearing about 3 vests and 2 jumpers under my summer blazer and taking some off as I got there and carrying them around in my bag.  It must have been harder on my mother as our clothes were also replaced first.......anyway fast forward to when we were all working and could afford to give her money and decent Christmas and birthday presents.  One of her pleasures was buying a new, cosy winter coat each year.  When she died she must have had about 30-35 coats which she never threw away. 

I do sometimes giggle to myself about the modern definition of 'poverty'.....

You keep your coats! 

I will.  Lol. And maybe even add a few more......"just in case".  😁. 

Your poor mum, she must have felt so helpless.   And you must have been so cold in Scotland.  

helensbiggestfan

louby40 said:

helensbiggestfan said:

Organgrinder.   Quite so......I learned at an early age that if I really wanted  something then I had to find the means.  I never say "I can't afford it". Instead I ask myself "how can I afford it".   I taught my children that good things don't just fall out of the sky and land in your lap.  You have to reach for them.  I now hear my eldest son say the same thing to his sons, it makes me smile.  

I am rereading Richard Templars "The Rules of Wealth". I originally bought my youngest, at the time spendthrift son, a copy because this little book explains it all better than I could. It's an easy read and one I throughly recommend.  

My son devoured it from cover to cover in one sitting and it changed his outlook forever.  He did a complete 180 degree turn in a day.  He went from being a hopeless spendthrift living from paycheque to paycheque  and getting nowhere to now being financially stable and effortlessly managing the tightrope of both enjoying the present (lovely home, nice holidays) whilst safeguarding his future, (two pension plans and a growing portfolio of investments). 

I can throughly recommend the book, it's simple, written in plain English that anyone can understand and the author is both compassionate and humorous in the way he gets his message across.  

The most important rule, his number 1 rule is that anyone can improve their financial situation because money is completely neutral - it doesn't care about your gender, your class, your lack of academic qualifications, your skin tone, your religion. 

If you live in a reasonably stable economy such as those found in The West, if you enjoy reasonable health and have access to learning materials, even if it's just a public library, then you can learn to build wealth, or at least make enough to furnish a reasonably comfortable lifestyle.  

He explains that what holds most people back is what he calls "money myths", often the myths that we grew up with, myths taught us by our parents, families, or our educational system. Myths that can be summed up by sayings such as "money is the root of all evil" or "rich people are all crooks" and so on.    These lessons which we just assimilated as we grew up can often lead to a victim mentality, where people think they are stuck in poverty and so look for someone else to blame - society, the government, the "fat cats" - anyone or anything to stop them assuming responsibility for their own actions.  You see this all the time, negativity, learned hopelessness and an unwillingness to even try.  

I make no secret of the fact that I was born into a very modest working class household and that, unfortunately, despite being reasonably intelligent and winning a scholarship to a prestigious grammar school,  for me education was not my leg up.  (I did eventually go to university but not until I was 40). University or further education was not on the table. I had to leave school at 15 without a single academic qualification and make my own way.  

I hated being poor, always being told "we can't afford it".  I resolved at a very early age that I would not accept a life of poverty. I would move heaven and earth to build a better life.  I got my first job at 13 - a Saturday shampoo girl in a hairdressing salon and never looked back.  

 I am already retired but I am always open to new ideas, to creating sideline businesses, multiple income streams. I'm always happy to find ways to maximise my income to maximise my lifestyle.  I like comfort, a nice home, good food, life's little luxuries and indulgences.  I like to travel in comfort and style, stay in nice hotels.  I haven't travelled in a while.  Instead I have recently moved house and I also invested in some very expensive dental work.   £15k worth.  😱. 

I don't mind, I love my new home and I am very pleased with my new Hollywood smile. 😁.   I shall travel again when I am good and ready.  

I may be 74 but I still have dreams and plans........my mantra now is "not done yet". 

I LOVE your mantra! Thanks for sharing a bit of your life.

..........

Now both in their 80's they swapped the little boat for cruise ships and have been on 20+ cruises over the past 10 years. We're hoping to go on a cruise with them next summer if my dad can get insurance. 

So much love and respect for them. 

I would love to live on a canal boat.  But maybe I'm getting a bit too old and decrepit now. Haha. 

I too love cruises, not keen on flying if I'm honest.  Hope your dad manages to get insurance and you get to enjoy a fabulous family cruise.  

helensbiggestfan

QrizB said:

helensbiggestfan said:

not sure if Asda in the U.K. are still part of Walmart. I think it was a short lived experiment and they might have parted ways again.  Anyway if you search you tube for "People of Walmart" there are some very eye opening videos featuring Walmart Shoppers.  😉

Walmart bought ASDA for £6.7bn in 1999, and sold it in 2021 for £6.8bn. Not a great return on investment there.

The current owners are private equity orgs who financed the purchase through loans and asset stripping. ASDA is losing market share and it's not yet clear whether this gamble is going to pay off.

Thanks for the Asda update.  I agree it does seem to be in a state of decline. 

helensbiggestfan

Organgrinder......you do so well with your stoozing etc.  

I think it's all about choices.

You are choosing to put in a small amount of effort for rewards that bring you pleasure and build memories.  One day, when you old and decrepit and no longer care to travel you can look back at all the countries you have visited and smile knowing those holidays were practically cost neutral.  

You're choose to use a little of your time to raise extra funds for your travel adventures.  I think it's brilliant and an excellent use of time. 

 It definitely beats frittering time watching crap tv.  😉.  

 

Organgrinder

helensbiggestfan said:

Organgrinder......you do so well with your stoozing etc.  

I think it's all about choices.

You are choosing to put in a small amount of effort for rewards that bring you pleasure and build memories.  One day, when you old and decrepit and no longer care to travel you can look back at all the countries you have visited and smile knowing those holidays were practically cost neutral.  

You're choose to use a little of your time to raise extra funds for your travel adventures.  I think it's brilliant and an excellent use of time. 

 It definitely beats frittering time watching crap tv.  😉.  

 

Another way of looking at it......that £2,500 I make is the equivalent of at least 2 more years earned pension.

Ok, it's not guaranteed, but I'm pretty certain I'll have more than enough to live on when fully retired, AND be able to give family a nice sum of money should I choose to do so.

helensbiggestfan

Tomorrow is the 11th anniversary of my husbands death.  Always a bittersweet time for me.  Relieved that his suffering came to an end, but still miss him, more than words can say.  

The thing about losing a life partner is not just losing someone who meant the world to you, it's that your whole world changes.  Your future is not the one you had envisaged and planned for.  That is especially true when it comes to retirement.  I'm just glad he got to tick so many of the items on his bucket list. 

He had always wanted to go to China. One day I impulsively booked his dream trip without telling him. I just surprised him when he got home from work. His face was a picture.  That was 2002.  In 2005 he got sick.  If we had waited "just a few more years" he might never have made it. 

The moral of the story.......don't put your lives on hold, waiting for "when" because "when" might never come.  

helensbiggestfan

Organgrinder said:

helensbiggestfan said:

Organgrinder......you do so well with your stoozing etc.  

I think it's all about choices.

You are choosing to put in a small amount of effort for rewards that bring you pleasure and build memories.  One day, when you old and decrepit and no longer care to travel you can look back at all the countries you have visited and smile knowing those holidays were practically cost neutral.  

You're choose to use a little of your time to raise extra funds for your travel adventures.  I think it's brilliant and an excellent use of time. 

 It definitely beats frittering time watching crap tv.  😉.  

 

Another way of looking at it......that £2,500 I make is the equivalent of at least 2 more years earned pension.

Ok, it's not guaranteed, but I'm pretty certain I'll have more than enough to live on when fully retired, AND be able to give family a nice sum of money should I choose to do so.

I'm sure you will be fine.

One of the things that has really surprised me about retirement is that my money actually seems to go further than it did when I was working full time, even though my income is less.  Maybe it's because in retirement we feel happier, more fulfilled and that we no longer feel the need to comfort spend to keep us cheerful.  My spending habits have definitely changed and I enjoy a much higher standard of living than I anticipated would be the case.   Frugal doesn't mean lack or misery. It just means good stewardship of our resources.  

The other thing I found is because my pension income is guaranteed (assuming the U.K. doesn't go bankrupt) then I feel confident enough to try out different money making schemes and sideline hustles because there's no risk involved.  Any additional money earned is an extra and not part of my budget so it doesn't matter if it it's not guaranteed.  The only thing I risk is my time.  

Smudgeismydog

helensbiggestfan said:

Tomorrow is the 11th anniversary of my husbands death.  Always a bittersweet time for me.  Relieved that his suffering came to an end, but still miss him, more than words can say.  

The thing about losing a life partner is not just losing someone who meant the world to you, it's that your whole world changes.  Your future is not the one you had envisaged and planned for.  That is especially true when it comes to retirement.  I'm just glad he got to tick so many of the items on his bucket list. 

He had always wanted to go to China. One day I impulsively booked his dream trip without telling him. I just surprised him when he got home from work. His face was a picture.  That was 2002.  In 2005 he got sick.  If we had waited "just a few more years" he might never have made it. 

The moral of the story.......don't put your lives on hold, waiting for "when" because "when" might never come.  

I’m so sorry
You are absolutely right in terms of not waiting for the right time, or saving things ‘for best’.

Get out there and live!
I am so glad to hear your booked that dream trip and had the opportunity to enjoy that together.