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Learning to walk before I run

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  • South_coast
    South_coast Posts: 5,939 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Now I don't really do politics in a public-ish forum, but did anyone else thing today's announcement re. the cost of living crisis was the dampest of squibs?
    I think it depends. If you are in a small household with small bills it will definitely make a difference. My council are currently consulting on a 1.99% increase this year, which for me would equate to about £20 extra per year (Band A property, with a 25% single occupancy discount). A £150 credit will therefore see me a lot better off. £200 towards my electric bill would currently cover about 75% of it (I'm on a fix until May, although under no illusions it will stay anything like the current cost!) So for me it's going to be useful.

    However, I do feel it should have been more targeted, rather than being applied to every household regardless of circumstances. My own situation means I can clearly absorb the cost increases and don't need the help, so I'm likely to put more money to charity as I wouldn't feel comfortable profiting from measures which have been brought in to help people that are struggling and I'm unable to opt out of
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • Karmacat
    Karmacat Posts: 39,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The loan is crazy, isn't it - and think of the extra admin costs involved too.  To me, there's so many sticking plaster decisions like this, it would actually be much simpler to fix the original problem .. though ... no, I'd better not write what I thought there  >:)
    2023: the year I get to buy a car
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