Thank god we paid the mortgage off

themadvix

https://forums.moneysavingexpert.com/discussion/comment/82021333#Comment_82021333

There is a website that tells you what the norms are (I can't remember what though) - I remember thinking their budget for clothing on the moderate level was ridiculous! (As in way too high.) The problem is these things vary so much from person/household to household.

KajiKita

Yes, norms are very broad.

Another way of looking at it is what you are spending today without the mortgage, youngest no longer being at home (I'm assuming they will be living independently by then - but you could run more than 1 scenario), a bit more on utilities as you may be at home more, knock down OH's commuting costs, spends on specific clothes for work etc., your current food spend (I think you eat out a lot less than the 'average') and you end up with a much more, 'realistic to you' figure.

When I did this I was quite reassured as I think living well assumes 3 or 4 city breaks a year for example, that would never be me! 🤣

KK

VintageHistorian

Yes the "norms" do make you feel like a bit of an oddity. A new car every 5 or 6 years (I run mine into the ground), and a two week foreign holiday every year (love going abroad but that's very much a "want" rather than a "need").

That said we are a nation that has historically had quite a bit of personal/consumer debt so perhaps they're being more realistic but not just telling people "cut your cloth to suit" 🤔

Cherryfudge

I think my laptop has been listening in, as it just presented me with

https://www.msn.com/en-gb/money/other/pensioners-need-45-000-a-year-to-be-comfortable-more-than-most-of-us-make-at-work/ar-AA24JJBQ?ocid=msedgntp&pc=ACTS&cvid=6a208af296e440759f7bbedbcb178ccd&ei=13

.

badmemory

I read the original article. Well it was good for a laugh. Not even on half that. I'm quite comfortable thanks very much, although I wouldn't be if I had to pay rent. But when I set out everything I had was a present or donation.

Cherryfudge

I'm in a similar position, @badmemory . In fact I couldn't live off what I bring in: I'm dependent on DH to a large extent, and on what I inherited. I agree the 'norms' mentioned are far from necessities, for instance our car was second hand when we bought it eight years ago - nothing like the suggested three-yearly replacement. We have the advantage of having paid off the mortgage, which makes a huge difference, though of course owning a house makes us liable for upkeep.

I wonder if the people who write these things ever call in to MSE?

ladybird1106

Wow thanks everyone for your feedback on the article and your real life takes on it. I guess it’s all about what we individually perceive to be an adequate amount and generally cut our cloth to fit if need be. Although I appreciate some people have no cloth to speak of. I just glad that we already live a lifestyle that isn’t money hungry and if need be we can cut further. I suppose it’s all pie in the sky to a certain extent as we don’t know what the world will look like in 14 years time or how much things will cost. I had an interesting conversation with a friend yesterday about future proofing our lives. They are considering solar panels to reduce potential price hikes and getting an allotment. Now the first one I don’t know loads about but the latter issue is more up my street. We wandered over to where their local allotment is and through the fence could see potential plots. However, I did warn them that having a plot isn’t easy and require lots of input to get it established. But once it is it’s a fantastic way to produce food, relax and exercise. They are going to come with their partner and see ours in the next couple of weeks to see what’s achievable.
Best go as the youngest is nearly ready to go.
love 🐞

themadvix

If your friend can afford the initial outlay, I'd recommend the investment in solar (and a battery - definitely a battery). With our solar (a relatively small array - 8 panels, which are lower powered than new ones would be), our heat pump and EV (which allows us to access cheap overnight electricity to charge the house battery as well - although I imagine you could do similar on Economy 7?), our electricity bill (which runs the house, the heating/hot water and the car, no gas or petrol required) is about £40/month. Yes, we've spent a lot of money in initial outlay, but it's very definitely peace of mind that bills will remain manageable. Between that, having paid off the house and the allotment, if Mr MV goes down to four days a week, we'll still be OK, even if my work is quiet for a bit (obviously accepting that we might have to cut our cloth to some extent).

Am looking forward to the second plot being (mostly) set up next year - I'd forgotten how much hard work it is getting everything initially organised!

greenbee

I second the solar/battery investment. Prices are so much lower than they were even a couple of years ago. The only caveat would be to make sure that they get three quotes and compare them carefully. If they have an electrician they trust who does solar, that would be my first port of call - an installer who you have a good relationship with is a godsend if their are issues as often manufacturers aren't that helpful to end users. If it's a straightfoward installation, then the energy companies can do a good job, but won't do complicated solutions. And there are a lot of dodgy new installers out there who have jumped on the bandwagon due to govt. subsidies/high demand.

I love my solar and battery (not sure about the heat pump, it isn't commissioned yet). I expect my solar exports in the summer to cover most of the cost of running the heat pump in the winter. So while I've spent the capital, I've set myself up for very low ongoing running costs - I also have part of the house on a backup circuit from battery/solar so I can work and run the heating and a few other bits and pieces in the event of a power cut!

ladybird1106

thanks themadvix and greenbee for your info I will pass it on. We are unable to have solar panels due to lack of adequate roof space (4 sided roof) or have a heat pump ( no available wall space due to low window on one side, wheelchair ramp on another, tight drive way and the last side, neighbours pathway to their back garden.) Although, this has helped us make the decision that we will move in the next 2-3 years time.
Had an issue with a sale . Buyer hadn’t paid, so this week I cancelled the order, but they then messaged to asked if they could still collect and pay cash. I said no as I’ve had people try it on before ie I’ve not brought enough money or I don’t want to pay that amount. So it’s gone back up for sale again, I did message them to let them know, but they’ve not bought it.
Had to pick the youngest up early from their vol job as they had been ill at work. 🤞 they are better by Saturday as it’s their partner’s birthday party.
On a positive note, I finally had a good night’s sleep and I don’t ache this morning. For the last couple of months I’ve woke up every morning in pain and felt exhausted. Then yesterday I was wondering if it could be the mattress topper that we got to help with Mr 🐞neck and shoulder issues. I’d wondered if it was just too soft for me as my joints felt out of alignment at times. Anyway we pulled it off my side ( dangles down his side) to see. Anyway it’s early days but I hoping we’ve cracked it.
Best go and get the washing out🤞 it dries.

Love 🐞