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Personal finances during a hot war

TM1
Posts: 26 Forumite


Just wondering, for no particular reason, what typically/historically happens to your personal finances during a war? For example WWI/WWII.
In normal times we are generally expected to go out and work, and then use that money to pay the bills, so what happens if we end up off fighting in another country? How do we pay the mortgage? are mortgage payments suspended until it's all over? I can't imagine it would be a good look to be repossessing people's homes after the government has send them off to fight? And what about utilities? The families that stay at home still need heat / power / water. Plus other loans and other bills. How does it all work?
Or would they just pay the soldiers a salary into their bank accounts to keep all the payments going and the bills paid? What about those with bigger mortgage payments and bills where that salary isn't enough? Or is everything just basically put on hold til it's over?
In normal times we are generally expected to go out and work, and then use that money to pay the bills, so what happens if we end up off fighting in another country? How do we pay the mortgage? are mortgage payments suspended until it's all over? I can't imagine it would be a good look to be repossessing people's homes after the government has send them off to fight? And what about utilities? The families that stay at home still need heat / power / water. Plus other loans and other bills. How does it all work?
Or would they just pay the soldiers a salary into their bank accounts to keep all the payments going and the bills paid? What about those with bigger mortgage payments and bills where that salary isn't enough? Or is everything just basically put on hold til it's over?
1
Comments
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A bit like Covid really - the government underwrites it as necessary for the sectors/individuals who would otherwise suffer the most, with vast amounts of government borrowing. You do of course get paid for being in the armed forces, so in the case of Joe Bloggs who had a job but is now on the front line, he'll probably get a similar salary. And obviously typical household debt was much lower back in WW2 (not many people with mortgages) so a bit easier to adjust your finances.1
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Discussion with family has suggested that ordinary peoples' savings would be frozen and/or seized (for UK Government use) in the event of a war. Does anyone know if this is correct or otherwise? Many thanks0
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