Anybody else finding it impossible to save money at the moment?

kimwp

https://forums.moneysavingexpert.com/discussion/comment/82078912#Comment_82078912

The extent to which their situation is annoying you is entirely down to how much time you are spending thinking about it. There are literally millions of people who have less than you, don't have drinking water or a safe place to sleep. If you think about them instead, you'll feel better by comparison.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82079261#Comment_82079261

I like how you include streaming subscriptions in your "frivolous spending". It's amazing how many people include this (and other things like gym membership) in their "essential bills". I know someone who always claims to be skint but is forever splashing out on haircuts, and her colour changes at least once a month. If you're really hard up, a friend with a pair of scissors will suffice.

luci

Make a list of your essential spending, leave it for a bit, then check it again. There’s usually something that can be sacrificed.

When we got our first mortgage, we were very young and didn’t have any savings, apart from the deposit. I had worked out our essential spending and every payday, I would put money for the utilities, food, insurance, etc into separate envelopes. I slightly overestimated how much we needed, to make sure we had enough to cover them. I had worked out that we would have £4 a week / £16 a month left over, but at least it was a positive balance.

Before we made our first payment, mortgage rates rose again to over 15%. That wiped out our positive balance. For the next 18 months, we only spent on the essentials. No clothes, shoes, nights, days or meals out. I worked in an office and needed to look smart, but managed without anything new.

Eventually, with pay increases and the mortgage rate reducing, we had something left over at the end of the week. However, after 18 months of living hand to mouth, I couldn’t spend it. I had been so used to not buying anything frivolous, that I didn’t know how to spend. I think the first thing I bought was a pair of shoes.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82080412#Comment_82080412

Small adjustment to your comment.

There are literally millions many Billions of people who have less than you, don't have drinking water or a safe place to sleep. 

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/comment/82080771#Comment_82080771

Both assessments are accurate depending on how you qualify the data

https://www.who.int/news/item/26-08-2025-1-in-4-people-globally-still-lack-access-to-safe-drinking-water---who--unicef

2.1 billion people globally – still lack access to safely managed drinking water*, including 106 million who drink directly from untreated surface sources.

https://www.homelessworldcup.org/homelessness-statistics

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82080412#Comment_82080412

oddly enough, the fact that there are people worse off makes absolutely naff all difference to anyone else’s situation.
I wish I was the worst off person in the world, because I’m happy. The fact that there are people better or worse off changes nothing, except strengthens my wish that all the greedy sods in the world would share a bit more.

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82080596#Comment_82080596

I don’t budget for these things as such (£25 per month into a savings account for big ticket frivolous spending, but beyond that as long as I can afford it and it’s not excessive or all the time (I usually have Netflix for a month or two a year and have just cancelled Apple Music after having it on a discounted offer) I just go with it. Were I to make a budget for frivolous items in the future due to needing to watch the pennies, that would be exactly where subscriptions were. We all need things to watch/read/listen to but there are free alternatives. Essentials are things we are obliged to have/pay for.

With that said there is only so long you can live on a tight budget or with things getting worse before it starts to get you down - but failing to budget for treats appropriately and pretending there isn’t a problem as some people do is only going to make matters worse.

luci

https://forums.moneysavingexpert.com/discussion/comment/82080830#Comment_82080830

In my case, living on an extremely tight budget carried on for as long as was necessary. I think it didn't really get me down, as we ended every week with no debts (and no money either).

"failing to budget for treats appropriately and pretending there isn’t a problem as some people do is only going to make matters worse."

It may not be as simple as failing to budget for treats. If there is no money at the end of the month, then there's no money. Maybe some people are happy to get into debt for a quick fix / treat, but that has never been my mindset. If we didn't have money for something, then we didn't get it. The only debt we've ever had was a mortgage, which nearly crippled us, and a bank loan a couple of months after we got married to buy a sofa and chairs, as the ones we had were second hand.

I was about to say, you can't have what you can't afford. Then I realised that many people do have what they can't afford. They live their lives in debt. Our IFA said that no-one should envy the local people with the huge new-build houses, two Range Rovers on the drive and all the trappings of being successful and wealthy. As he said, they own none of it and live their lives in permanent debt and all the worries that comes with.

kimwp

https://forums.moneysavingexpert.com/discussion/comment/82080819#Comment_82080819

I don't disagree. But I didn't say this would change OP's financial situation, I said it would reduce how much their relation's situation is annoying them (which they discussed in the message I replied to)

kimwp

https://forums.moneysavingexpert.com/discussion/comment/82080776#Comment_82080776

Good to know, I wasn't sure of the actual number, but knew it would be at least millions.