Cost of living crisis - how are you all doing?

BlueMooner87 said:
I know I will likely get a lot of stick for this.

Me and my Mrs have we decided aren't having kids, because we believe that we cant afford to bring them into a world and give them a good lifestyle. We are far from being poor, we do ok for ourselves, I just believe far too many people have kids without thinking about the financial consequences of making that decision.

I am bitter about how much we pay in income tax/national insurance, I would he happier if this was reduced significantly and I didn't have to pay for the non-working class society that seems to be growing at an alarming rate.

Cost of living, we have done quite abit to reduce our outgoings, changed broadband supplier, removed all TV packs apart from netflix, no tv licence, swapped car for a cheaper one, this has just about covered the increase in our mortgage.
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I do hear you but just let other people live their lives and make their own mistakes.

Those who don’t work won’t get full state pension and no private pension. Numerous wasters round here don’t have jobs and they’ve got nothing. No holidays, nice things, stuff to look forwards to.

They might pretend they’re fine but they’re not. What a waste.
 
I have often wondered whether the concept of women working was really about equality and fairness, or whether it was about the need capitalism had for their labour. Whereas pre-1939 the role of women in the workplace was marginal, it is now essential. The economy would collapse without them.

But the injection of female labour into the market must have reduced real wages, under the law of supply and demand. So no wonder houses now need two wages to buy. (Two good wages at that.)

This is really academic, as there is no way the social changes will be reversed. Women understandably value the independence a career gives them. Why should they not?

The particular problem is that in the UK we have fetishised home ownership, and, over time, have destroyed security in the rental sector. The only way to be secure (and to be seen as successful) is to buy your own home. Almost all the country's wealth is tied up in property; while this property may produce rental income, it does not produce any real goods that can be sold abroad. I doubt there is another country that puts so little investment in industry and commerce, and yet that is the road to genuine prosperity.

If I were PM, one of my first acts would be to provide secure rental property (common in Europe) and give people a real choice in housing provision.
 
BlueHammer85 said:
just to be nosy, how much is your mortgage a month and how much has it risen ?
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it was £1040 and its gone to £1410, we managed to get a 2 year deal at 4.05% contemplated getting a 5 year but took the gamble on it falling...

We were in full panic mode during the truss kwasi term when interest rates flew up.
 
MCFC Wirral said:
I do hear you but just let other people live their lives and make their own mistakes.

Those who don’t work won’t get full state pension and no private pension. Numerous wasters round here don’t have jobs and they’ve got nothing. No holidays, nice things, stuff to look forwards to.

They might pretend they’re fine but they’re not. What a waste.
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You get full NI pension credit if unemployed and register as such.
 
BlueMooner87 said:
it was £1040 and its gone to £1410, we managed to get a 2 year deal at 4.05% contemplated getting a 5 year but took the gamble on it falling...

We were in full panic mode during the truss kwasi term when interest rates flew up.
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crazy jump, mines similar but gone up £300 on a 10-year fix.
 
domalino said:
Weird thing to say about a country with lower home ownership rates than the US, Canada, Australia, Ireland, Spain, Italy, Netherlands, the EU as a whole.
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Home ownership in the UK has fallen significantly since the early 2000s where it peaked at over 70% which at the time was above that of the US, Canada and Australia. I think the obsession for home ownership is more born out of the rate of increase upto the early 2000s.

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The number of private renters has increased significantly from 2003 and stands as of 2023 at almost 20% in private with a small reduction in social renting down to 16.6%.

If you look at the rate of change in home ownership by comparison to that of the US, Aus, Can etc its a much steeper gradient which is a sure fire way to drive house prices through the roof as the price is affected much more by short term supply and demand factors by comparison to other countries.

1698146892742.png
 
East Level 2 said:
Just had a letter saying I'll be getting a Winter Fuel Payment of £500. This includes "Pensioner cost of living payment", but but doesn't give a split between the two payments.
Payment will be direct to my bank in November or December.
Every little helps.
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Every little helps...£500...not bad :)
 
BlueMooner87 said:
I know I will likely get a lot of stick for this.

Me and my Mrs have we decided aren't having kids, because we believe that we cant afford to bring them into a world and give them a good lifestyle. We are far from being poor, we do ok for ourselves, I just believe far too many people have kids without thinking about the financial consequences of making that decision.

I am bitter about how much we pay in income tax/national insurance, I would he happier if this was reduced significantly and I didn't have to pay for the non-working class society that seems to be growing at an alarming rate.

Cost of living, we have done quite abit to reduce our outgoings, changed broadband supplier, removed all TV packs apart from netflix, no tv licence, swapped car for a cheaper one, this has just about covered the increase in our mortgage.
Click to expand...
You say you are far from being poor, bit of advice, live a bit, you can't take it with you.
 
domalino said:
Weird thing to say about a country with lower home ownership rates than the US, Canada, Australia, Ireland, Spain, Italy, Netherlands, the EU as a whole.
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Do these countries fetishise home ownership? Are citizens who rent regarded as failures in life?

I doubt it. I doubt it, big time.

I would also ask - are their houses relatively affordable for people on average incomes? (As they used to be in the UK.) Is most of the country's wealth tied up in property, or is there more diversity in investment?
 
BrianW said:
Do these countries fetishise home ownership? Are citizens who rent regarded as failures in life?

I doubt it. I doubt it, big time.

I would also ask - are their houses relatively affordable for people on average incomes? (As they used to be in the UK.) Is most of the country's wealth tied up in property, or is there more diversity in investment?
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With buying normally far cheaper than renting, it is just a rational economic decision if you can save a sufficient deposit.

Giving more security in PRS is exactly what the Renters Reform Bill was supposed to do, however Landlords are selling up due to it.
 
MCFC Wirral said:
I always understood you needed full NI payments for X amount of years? Nevertheless, even that on its own isn’t enough to “retire” comfortably on.
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You do, but as long as the unemployed register and attend job centres and jump through their hoops they are credited with full NI.
See
www.gov.uk

National Insurance credits

Who can get National Insurance credits and how to apply or when to pay voluntary National Insurance contributions.
www.gov.uk www.gov.uk
 
Coatigan said:
We are focusing on two very different sides of it. I am not for one second arguing the extremity of it, or the scale at that end of the spectrum.

It has been going on nearly 3 years though, and there is no sign of any decreases, and society as a whole continues to pay whatever the increases are. Till that changes, it will run on.

The media can't really call it a cost of living shitshow though, I guess.
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We’ve always had price increases I can’t remember a time when they’ve gone down which I think your saying and I agree with, but the safety nets have fallen with a tight squeeze on welfare benefit and it’s plunged a quarter of million children into poverty that is what’s concerning me.
I don’t know what we can do about it only shop around for the lowest prices and continue giving to charity because the future looks bleak for the have nots.
 
BlueMooner87 said:
I know I will likely get a lot of stick for this.

Me and my Mrs have we decided aren't having kids, because we believe that we cant afford to bring them into a world and give them a good lifestyle. We are far from being poor, we do ok for ourselves, I just believe far too many people have kids without thinking about the financial consequences of making that decision.

I am bitter about how much we pay in income tax/national insurance, I would he happier if this was reduced significantly and I didn't have to pay for the non-working class society that seems to be growing at an alarming rate.

Cost of living, we have done quite abit to reduce our outgoings, changed broadband supplier, removed all TV packs apart from netflix, no tv licence, swapped car for a cheaper one, this has just about covered the increase in our mortgage.
Click to expand...
Serious question....do people actually think about not having children for financial reasons. If so, why did nobody tell my wife just before our half hour knee trembler on the patio in Fueteventura. Ah the memories.....
 
Kirkstall Blue said:
We’ve always had price increases I can’t remember a time when they’ve gone down which I think your saying and I agree with, but the safety nets have fallen with a tight squeeze on welfare benefit and it’s plunged a quarter of million children into poverty that is what’s concerning me.
I don’t know what we can do about it only shop around for the lowest prices and continue giving to charity because the future looks bleak for the have nots.
Click to expand...
The article below is a damning indictment of where we are in modern day Britain.

Guardian Article on Modern Day Poverty
 
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Tuearts right boot said:
Serious question....do people actually think about not having children for financial reasons. If so, why did nobody tell my wife just before our half hour knee trembler on the patio in Fueteventura. Ah the memories.....
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Only lunatics, imagine neanderthals not procreating due to the financial pressures haha.
 
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