Cost of living crisis - how are you all doing?

[BrianW]

Not every EU country can be arsed to enforce the rules. And, indeed, as a sovereign state, it has that right. It can be as lax as it likes.

The UK, as an EU member, was a case in point. Any fucker could come here and take the piss because our government was too lazy and incompetent to enforce EU laws.

But somehow, this was the EU's fault.

 

[paulchapo]

He has apparently done it after Brexit. While it is no doubt more difficult (and not open to everybody), there are ways of staying in many European countries on a long-term basis.

Of course it's doable just more difficult.

 

[paulchapo]

60k deposit ? First time buyers usually put down around 10% so way less than 60k

Maybe they've upped it. I looked on the details when one went up for sale and it was a fair bit more than 10%. Here you go I wasn't imagining it

 

[BlueHammer85]

Maybe they've upped it. I looked on the details when one went up for sale and it was a fair bit more than 10%. Here you go I wasn't imagining it

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But you can put down 10% deposit no ? so 29.5k ... obviously that would extend the repayment term to around 30 years.

 

[paulchapo]

But you can put down 10% deposit no ? so 29.5k ... obviously that would extend the repayment term to around 30 years.

Can you? It says £59,000 unless that's just their recommendation. It won't affect me as mine is paid off so I haven't studied it with a fine tooth comb. I remember it being high. I only nosy to see what my house may be worth now lol.

 

[hammocity]

Mrs H will get the state pension increase in April which gives her an extra £900 per year. However as she does a min wage part time job she will end up paying £364 extra in income tax out of her pay increase of £780.

The income on the state pension is now £11,500 but the tax free threshold is still only £12,570 so any part time earnings for those trying to make ends meet are whacked with a tax liability of 20% on most of their earnings, I think the first few thousand should be tax free for people that have paid into the system most of their lives.

 

[hammocity]

Can you? It says £59,000 unless that's just their recommendation. It won't affect me as mine is paid off so I haven't studied it with a fine tooth comb. I remember it being high. I only nosy to see what my house may be worth now lol.

There’s only a couple of advantages that FOC’s like us have Paul, no or little work (I still do a bit of admin for my old business, about 6/7 hours a week) and a mortgage free house. I’d swap both for my youth though, not in this generation though, I want to go back to mine!!

 

[paulchapo]

Mrs H will get the state pension increase in April which gives her an extra £900 per year. However as she does a min wage part time job she will end up paying £364 extra in income tax out of her pay increase of £780.

The income on the state pension is now £11,500 but the tax free threshold is still only £12,570 so any part time earnings for those trying to make ends meet are whacked with a tax liability of 20% on most of their earnings, I think the first few thousand should be tax free for people that have paid into the system most of their lives.

That's it in a nutshell. Give with one hand take with another. If you can manage cut the hours to keep below the threshold. Alternatively give up the job you may qualify for some benefits.

 

[blueparrot]

Mrs H will get the state pension increase in April which gives her an extra £900 per year. However as she does a min wage part time job she will end up paying £364 extra in income tax out of her pay increase of £780.

The income on the state pension is now £11,500 but the tax free threshold is still only £12,570 so any part time earnings for those trying to make ends meet are whacked with a tax liability of 20% on most of their earnings, I think the first few thousand should be tax free for people that have paid into the system most of their lives.

Not raising the threshold at least in line with inflation is raising taxes every year on those that can least afford it as well as dragging the most vulnerable into paying tax. My mum is also on the minimum pension and when my dad died and that halved the household income, his 2 tiny private pensions worth about £2000 a year, last years pension rise took her over the threshold.
Not sure when the threshold was last raised but it was a fair few years ago now.

 

[paulchapo]

There’s only a couple of advantages that FOC’s like us have Paul, no or little work (I still do a bit of admin for my old business, about 6/7 hours a week) and a mortgage free house. I’d swap both for my youth though, not in this generation though, I want to go back to mine!!

It takes a bit of planning and probably luck to attain. I realised I needed to finish early as the pressure of work and the hours was draining me. I took early retirement seven years ago. The only thing I've missed is the banter and laughs though that became less and less towards the end.

Health and time you can't buy, nor youth sadly.