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    • Bloomberg
    • By Bloomberg 9th Jan 13, 11:20 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    • #2
    • 9th Jan 13, 11:20 PM
    Hard times.
    • #2
    • 9th Jan 13, 11:20 PM
    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?
    Originally posted by Student of

    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.
    Money is a wise mans religion
  • opinions4u
    • #3
    • 10th Jan 13, 6:08 AM
    • #3
    • 10th Jan 13, 6:08 AM
    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.
    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.
    • Heng Leng
    • By Heng Leng 10th Jan 13, 11:19 AM
    • 4,937 Posts
    • 1,628 Thanks
    Heng Leng
    • #4
    • 10th Jan 13, 11:19 AM
    • #4
    • 10th Jan 13, 11:19 AM
    Countries aren't like people - many countries run a budget deficit.

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

    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.
    Originally posted by opinions4u
    • GooliesOfFire
    • By GooliesOfFire 10th Jan 13, 12:17 PM
    • 379 Posts
    • 103 Thanks
    GooliesOfFire
    • #5
    • 10th Jan 13, 12:17 PM
    • #5
    • 10th Jan 13, 12:17 PM
    I may be living like that from mid 2013. My wife is going to be on maternity leave from February.. We won't be overpaying our mortgage and our small savings will disappear quickly I imagine.

    My fault really.
    Last edited by GooliesOfFire; 10-01-2013 at 12:19 PM.
    • Bloomberg
    • By Bloomberg 10th Jan 13, 6:00 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    • #6
    • 10th Jan 13, 6:00 PM
    Heartache and penury.
    • #6
    • 10th Jan 13, 6:00 PM
    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.
    Originally posted by opinions4u

    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.'
    Money is a wise mans religion
  • Jules2012
    • #7
    • 10th Jan 13, 7:45 PM
    • #7
    • 10th Jan 13, 7:45 PM
    I feel sorry for people who have kids and have to struggle month to month but I guess everyone needs to sort out there own finances. The best way to help someone is to help them to budget and be more economical.
    Bad luck breeds bad luck.

    Damn I'm doomed.
  • opinions4u
    • #8
    • 10th Jan 13, 8:05 PM
    • #8
    • 10th Jan 13, 8:05 PM
    Countries aren't like people - many countries run a budget deficit.

    If he had managed the property market and regulated the banks alot better then the UK would be in a much stronger position.
    Originally posted by Heng Leng
    Brown's stated aim was to balance the budget over the economic cycle. 7 years.

    He then changed it to 9 years. And then 11.

    He still failed.

    The banks created his rainy day. If they hadn't done something else would have. He failed to prepare for the inevitable.
    Last edited by opinions4u; 10-01-2013 at 8:17 PM.
    • lindsaygalaxy
    • By lindsaygalaxy 10th Jan 13, 8:30 PM
    • 1,923 Posts
    • 2,965 Thanks
    lindsaygalaxy
    • #9
    • 10th Jan 13, 8:30 PM
    • #9
    • 10th Jan 13, 8:30 PM
    My parents have always lived payday to paydo for as long as I can remember, mainly due to my father having to retire from work at a pretty young age due to illness and my mum having to run the house etc.


    • antrobus
    • By antrobus 10th Jan 13, 8:42 PM
    • 16,900 Posts
    • 23,894 Thanks
    antrobus
    Countries aren't like people - many countries run a budget deficit.
    Originally posted by Heng Leng
    A country is simply the aggregate of a lot of people. Debt still has to be repaid.

    If he had managed the property market and regulated the banks alot better then the UK would be in a much stronger position.
    Originally posted by Heng Leng
    "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.
    • antrobus
    • By antrobus 10th Jan 13, 8:45 PM
    • 16,900 Posts
    • 23,894 Thanks
    antrobus
    I would guess that in the current economic climate there are millions of people living hand to mouth. ...
    Originally posted by Bloomberg
    I'd go for billions. The world is a big place.
    • Bloomberg
    • By Bloomberg 10th Jan 13, 9:35 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    Save, save, save
    The bottom line is that when you have a job you should be looking to save for a rainy day. People fall into the trap of feeling too secure just because they currently have a regular income. The importance of regular saving cannot be overstated.


    Everyone should ask themselves if they could survive without their next wage/salary, if the answer is 'NO' then alarm bells should start ringing very loudly. I appreciate that nowadays not everyone can save but there are still people who happily spend every single penny. Barclays estimate that in excess of 2 billion is owed to friends in this country. That can only be seen as a measure of the extent of the disarray that many people's finances are in.
    Money is a wise mans religion
    • billbennett
    • By billbennett 10th Jan 13, 10:17 PM
    • 2,270 Posts
    • 1,623 Thanks
    billbennett
    So true. I know people who spend every last penny they earn, and budget to be at 0.00 the night before payday... but what if payday never comes?
    In "Monopoly", what makes the "Super Tax" so super?
    • Bloomberg
    • By Bloomberg 10th Jan 13, 10:34 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    What has gone wrong here?
    So true. I know people who spend every last penny they earn, and budget to be at 0.00 the night before payday... but what if payday never comes?
    Originally posted by billbennett

    I have been told that the Italians are a nation of savers, the ones I have met encourage or even force their children to save. What has gone wrong in Britain?


    I know people whose children stay home until their late twenties and then leave home in debt. The parents must take some of the blame for that - pure madness.


    My children are at home and working full time. I take three quarters of their wages and save it. Realistically most people don't have one quarter of their wages left after paying their bills. Unbeknown to them I will give them the whole lot back one day plus interest.
    Last edited by Bloomberg; 10-01-2013 at 11:52 PM.
    Money is a wise mans religion
  • innovate
    My children are at home and working full time. I take three quarters of their wages and save it. Realistically most people don't have one one quarter of their wages left after paying their bills. Unbeknown to them I will give them the whole lot back one day plus interest.
    Originally posted by Bloomberg
    How are they learning to save themselves if you do it for them?
    • Bloomberg
    • By Bloomberg 10th Jan 13, 11:06 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    How are they learning to save themselves if you do it for them?
    Originally posted by innovate
    They think that some of the money is for their future and all the money is taken with their blessing. In addition to saving money for them I educate them and feel that they appreciate the importance of saving.


    My son is twenty two and I have taken in excess of twenty six thousand pounds from him. Next year he wants to buy a flat with his girlfriend, if the huge lump sum that I will give him does not teach him about saving and its benefits what on earth will?

    And your point is?
    Money is a wise mans religion
    • flea72
    • By flea72 10th Jan 13, 11:07 PM
    • 5,294 Posts
    • 5,294 Thanks
    flea72
    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.'
    Originally posted by Bloomberg
    I live payday to payday and have never had any savings. I do not see myself as being reckless with money. I have no debt other than a mortgage (cheaper than renting), but have only ever been able to earn inline with my bills. Pay rises have never been of sufficient amount to counteract the rise in bills/cost of living, so I just tick along, adjusting and cutting back when needed (usually on food)

    I do not see that I am 'just managing'. I have many options should I loose my job, the same as all other people. Th difference being that the drop, prob wont hit me as hard as someone with savings, as I am already used to the min wage jobs/lifestyle.

    From personal viewpoint, my friends who stress most about money, are those with savings. They have at least a years salary in savings and are mortgage free, but still worry about losing their jobs and how they would cope. They don't seem to understand what they are saving for.

    I don't expect anyone to help me. whats makes people think that just because you live hand to mouth you are in need. If i want to earn more than I currently spend then the only thing I can do is aim to get a better paid job. Which is the road I am taking. However, in the short term, until I qualify, I actually have less money coming in, than when I was working, but I quite like rubber chicken, so that's ok
    • Naf
    • By Naf 10th Jan 13, 11:22 PM
    • 3,053 Posts
    • 2,307 Thanks
    Naf
    How are they learning to save themselves if you do it for them?
    Originally posted by innovate
    Bloomberg also pointed out that the amount he/she takes is fairly representative of what someone could expect to have to pay to bills anyway: so they ought to be able to budget savings from the remainder themselves too.

    I always try to budget to have 50+ left by the following payday. Relying heavily on HB, this rarely actually happens.
    Now I'm a student things are easier in some respects, as lump sums come regularly so most of my bills are now paid up 3 months in advance. The rest is paid from the HB/CTC/CB that comes in through the month. These days we ought to see 100-200 per month excess reasonably easily... Finally.
    Never argue with stupid people, they will drag you down to their level and then beat you with experience.
    - Mark Twain
    Arguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.
    • Bloomberg
    • By Bloomberg 10th Jan 13, 11:50 PM
    • 657 Posts
    • 268 Thanks
    Bloomberg
    A cushion
    Bloomberg also pointed out that the amount he/she takes is fairly representative of what someone could expect to have to pay to bills anyway: so they ought to be able to budget savings from the remainder themselves too.

    I always try to budget to have 50+ left by the following payday. Relying heavily on HB, this rarely actually happens.
    Now I'm a student things are easier in some respects, as lump sums come regularly so most of my bills are now paid up 3 months in advance. The rest is paid from the HB/CTC/CB that comes in through the month. These days we ought to see 100-200 per month excess reasonably easily... Finally.
    Originally posted by Naf

    It seems that you have everything worked out nicely. As you are living slightly below your means you have a cushion of sorts.

    I am glad that someone can understand the rationale behind my actions, you talk a lot of sense. All the best.
    Money is a wise mans religion
    • Lokolo
    • By Lokolo 11th Jan 13, 9:30 AM
    • 20,243 Posts
    • 15,440 Thanks
    Lokolo
    My son is twenty two and I have taken in excess of twenty six thousand pounds from him. Next year he wants to buy a flat with his girlfriend, if the huge lump sum that I will give him does not teach him about saving and its benefits what on earth will?
    Originally posted by Bloomberg
    Him doing it himself?

    Yes I realise I am a bit of a oddball in terms of my age and finances. But I lived at home, paid no rent, no board, nothing. I had over 1500 disposible income each month. I saved most of it myself, I didn't need my parents to take it from me to save it.

    However my brother is the opposite and my mum is doing what you are, but I don't expect him to work out the importance of saving because of it.
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