Living payday to payday. How many people do it?

Student_of_£ wrote: »

Pretty self explanatory, how any of you live payday to payday or know someone who does? How can you help people who live payday to payday?

I would guess that in the current economic climate there are millions of people living hand to mouth. I read an article somewhere which claimed that the average family has £165 per month going out than coming in.

I don't personally live hand to mouth but still have a healthy respect for money and am careful not to waste it. Without meaning to disparage anyone or comment on individual cases many people are suffering now because when the times were good they were not making any provision for a rainy day.


You asked how you can help people living payday to payday, you can either give them some of your hard earned cash or refer them to this website.

opinions4u wrote: »

If only Gordon Brown had considered this.

Spending all your money each month (or even borrowing extra) is flawed. Your car will break down. Your washing machine will stop mid-cycle or your television will die of old age.

While you cannot predict when these things will happen you know for sure that it will come. Save for the inevitable nasties.

So stick 10% or more of your pay in a savings account in anticipation of some of life's mess inevitably coming your way. Then you cope.

Although the last government made a mess of things there are still many people who have overstretched themselves and made a rod for their own backs. Irresponsible lending cannot happen without irresponsible borrowing. Each individual has a responsibility to borrow/live within their means. For too long too many people have looked at their houses as ATMs and have clawed out every last bit of equity.



If people had religiously saved 10% of their income then they would be far better off now. It gives me no pleasure to say this but the worst is still to come for those who have been reckless. Interest rates will one day have to rise and there will be so many casualties. Those who are only just managing to pay their mortgages now are effectively on borrowed time.


Debt; 'An ingenious substitution for the slave masters whip and chain.'

Heng_Leng wrote: »

Countries aren't like people - many countries run a budget deficit.

A country is simply the aggregate of a lot of people. Debt still has to be repaid.

Heng_Leng wrote: »

If he had managed the property market and regulated the banks alot better then the UK would be in a much stronger position.

"I will not allow house prices to get out of control and put at risk the sustainability of the future." (Gordon Brown in his 1997 Budget speech.)

Oops.