Cost of living crisis - how are you all doing?

[splinter]

Hope your birthday is very soon....your liver won't last long with the middle East stuff going on.;)

Agreed..it can't go on

 

[MCFC Wirral]

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.

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.

 

[BrianW]

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.

 

[domalino]

The particular problem is that in the UK we have fetishised home ownership

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.

 

[BlueMooner87]

just to be nosy, how much is your mortgage a month and how much has it risen ?

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.

 

[denislawsbackheel]

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.

You get full NI pension credit if unemployed and register as such.

 

[BlueHammer85]

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.

crazy jump, mines similar but gone up £300 on a 10-year fix.

 

[Kompany Car]

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.

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.


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.

 

[pride in battle]

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.

Every little helps...£500...not bad :)

 

[pride in battle]

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.

You say you are far from being poor, bit of advice, live a bit, you can't take it with you.