It's getting tough out there. Feeling the pinch?

TheBanker

QueenJess said:

I can’t speak for bulb specifically, but all big businesses will be earning interest on their cash. The usual treasury team will cash pool to leave only the on hand cash needed pretty much immediately so they have a large amount of cash to offset debt and also earn interest.

The point with Bulb is that nobody is making a profit, they are in administration. Any income they generate from balances (which won't be much) will just mean they need a slightly smaller bailout. 

sammy_kaye18

Hello all
Im playing catch up after my husband and I went away for a few days to Worcester. He booked an airbnb as he had to work down there and I tagged along so we could have some time away together to celebrate being together for 20 years. Our actual wedding anniversary isn't until the end of the month but it was nice to have some us time and not worry about bills etc for a little bit, although we were good. We took away £100 for spending money. We spend the total of £30. So the other £70 has gone back into the bank. 

Also had a message yesterday to say I had had a payment from HMRC into my bank of £326 so checked and it was the cost of living payment that I didn't think we were entitled to but apparently because we get tax credits we were so we have put that aside into a spare bank account to use come winter. 

Me and husband were discussing the gas shortages this morning on our drive home and husband said we will be alright since not much in our house is gas other than our heating and water - but the shower is electric so we can still wash and as far as heating goes - if it comes to it we have an electric fire and can all camp in the living room if its that cold. We got home at 9.20am this morning as husband had to work in his regular store today so have come home and tidied round although the kids have done a good job of keeping it tidy to be fair. 

I did remember though that we cut down the hedge so still have a huge pile of leaves / sticks etc to get rid of but Im going to have a look in a minute to see how I go about making leaf mulch and see if I can use the leaves from the hedge to get rid of that, then I can always put the sticks down behind our shed and they can just sit in a pile for insects / hedgehogs / slowworms etc to make their homes in. 

Also checked my garden and have about 8 cucumbers in various stages so will be harvesting / chopping and freezing them within the next day or two to make use of them come the winter. When the weather clears up (its a bit drizzly and overcast) I will be cutting the grass too and getting the garden sorted and tidy ready to start my winter growing I think. Between my greenhouse and under my parasol I think I will have ample growing space. Spuds being top of the list! 

Hope your all well though and I haven't missed too much. 
x

CKhalvashi

TheBanker said:

QueenJess said:

I can’t speak for bulb specifically, but all big businesses will be earning interest on their cash. The usual treasury team will cash pool to leave only the on hand cash needed pretty much immediately so they have a large amount of cash to offset debt and also earn interest.

The point with Bulb is that nobody is making a profit, they are in administration. Any income they generate from balances (which won't be much) will just mean they need a slightly smaller bailout. 

IMO it should have been nationalised. I'm not for doing this in general and prefer a free market, but for gas/electricity, rail and a limited number of other sectors this makes most sense for me. It's too big to reasonably be let fail, a similar situation to Natwest/RBS in 2008 (which I'd have taken the same approach with as a viable business that could have worked wonders in some areas investments were held).

I'm trying to keep as small a balance as possible on the account at the moment (although Shell due to their position are unlikely to go bust), however will be ensuring that a deficit doesn't accrue.

Florenceem

Been to prayer breakfast - full English so will skip lunch today.

CKhalvashi

Florenceem said:

Been to prayer breakfast - full English so will skip lunch today.

Full English will be tomorrow for us (OH is back to work on lates and I haven't seen mom for about 3 weeks, so 11am breakfast is perfect).

A nice place that's been giving free breakfasts to Ukrainians as a welcome. This is the sort of small business I like to support as they fit with my personal views.

Auntycaz

The energy companies will also have the £400 for every household given by the government to invest before they drip feed it back to us all each month. I read on another thread that Scottish power will refund all their customers their £66 a month to their bank accounts only after they have paid their direct debits. Why not just deduct it from their monthly bill? I bet there will be at least a week between them receiving the direct debit and crediting their customer's account with the £66. 

QueenJess

sammy_kaye18 said:

Me and husband were discussing the gas shortages this morning on our drive home and husband said we will be alright since not much in our house is gas other than our heating and water - but the shower is electric so we can still wash and as far as heating goes - if it comes to it we have an electric fire and can all camp in the living room if its that cold.

If there’s gas shortages, then there’ll also likely be electricity shortages since about 29% of gas being used in the UK is to generate electricity (compared to 38% used for heating)- source: https://www.gov.uk/government/news/uk-gas-supply-explainer

YorksLass

Our energy company have said they will apply the £66 as a credit to our account each month so we'll still be paying the full DD.  I'll be keeping an eye on our balance and if need be will ask for the DD to be reduced once winter is over.

I'm currently compiling a list for my next online grocery order and have lost count of the number of times I've crossed out or added things to it.  I need quite a lot of store cupboard items but am trying to keep it down to a reasonable level and stay within budget.

One thing I am adding though is a universal steamer that will fit on my existing pans so I don't have to use all the rings on the hob.  I've had one of those folding ones for years but it's a bit battered and now one of its little legs has come off, so it's time for a new one.  I'll use some of my loyalty points to pay for it so no cash outlay.  

ladyholly

Electric cuts are more likely than gas but the pressure could be reduced. I seem to remember thats what happened during the 3 day week. I also read an article in the Financial Times saying that the UK may turn of the supply to Belgium and the Netherlands but this would be short sighted as in the depth of winter the supply comes the other way and we could be left short

gran3

Auntycaz said:

The energy companies will also have the £400 for every household given by the government to invest before they drip feed it back to us all each month. I read on another thread that Scottish power will refund all their customers their £66 a month to their bank accounts only after they have paid their direct debits. Why not just deduct it from their monthly bill? I bet there will be at least a week between them receiving the direct debit and crediting their customer's account with the £66. 

I dont pay by direct debit but I will have the payments credited to my account on the schedule they have sent.