"Most only have £500 of savings ",says Lloyds boss ,really ?

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Yes, some people that were comfortable are now on the breadline.

Tory's gonna Tory and bleed you dry more.
 
Trick is to get a job with 3 or 6 month's notice. They will never pursue you if you resign and leave after a month's worth of notice. And if they want to get rid of you quicker they will just pay u off.
Clearly not that easy but if u are relatively happy in your job trying and get your contract amended.
That's then a decent automatic buffer if things go West.
 
BowdonUK said:
£500 is very low.

Though this country is pretty bad for wages when 'in work benefits' are a thing.
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If you're getting "in work benefits" the chances are you don't have much if any money spare...

I suspect for a lot of people £500 in savings would be nice, as once you're on many of the benefits you may barely have enough to live on and very little chance to save, and if you're on a low wage you may just be over the benefits limit but no better off (and in some ways worse).
 
Rroff said:
Same difference really - even with compound interest it isn't really going to make much odds to my retirement situation (at least as far as my expectations go).
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You might be surprised how much of a difference spending a bit of time managing your finances will make. Potentially years off time to retirement. Sticking your head in the sand and stating what you do currently works for you is fine, but don't pretend to yourself it will have no impact on your lifestyle or how much you work.
 
EvilRob said:
You might be surprised how much of a difference spending a bit of time managing your finances will make. Potentially years off time to retirement. Sticking your head in the sand and stating what you do currently works for you is fine, but don't pretend to yourself it will have no impact on your lifestyle or how much you work.
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There is a fair bit I've not elaborated on - but as above I'm not advocating people follow my example quite the opposite. I'm happy with the situation I'm in (mostly) and more money won't change that.
 
I'm quite thorough when it comes to managing my money. It'll come as no surprise being a techy forum that an Excel workbook is my preferred method. A worksheet for each month with the EOM balance carried forward to the next month etc, all the monthly fixed direct debits entered and any large one-off payments scheduled for that particular month (house insurance, car insurance etc). It works for me and I actually enjoy it plus I feel in control and never in doubt regarding my finances. It's a good habit to get in to.
 
Mysterae_ said:
I'm quite thorough when it comes to managing my money. It'll come as no surprise being a techy forum that an Excel workbook is my preferred method. A worksheet for each month with the EOM balance carried forward to the next month etc, all the monthly fixed direct debits entered and any large one-off payments scheduled for that particular month (house insurance, car insurance etc). It works for me and I actually enjoy it plus I feel in control and never in doubt regarding my finances. It's a good habit to get in to.
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Me and the Mrs do something similar with a google sheet. all expenses/bills go in so we know who's paid for what. does help to identify the more expensive months and how much is being saved.
 
My boss must easily be on £60,000+ a year and her husband has a very high paying job of around the same figure.
A month ago she came in moaning that she needed a £1000 job on her car but they hadn't got the money to fix it :eek:
You have to wonder how some people live.
 
The World Economic Forum did state that in the future "You will own nothing, and be happy". The Great Reset once considered a conspiracy theory seems to be unfolding according to the UN Agenda 21-30 plan. Don't worry it's all for a sustainable future, and what is most exciting is you will get your protein from bugs.

Of course, I'm just off my meds, or am I?
 
SexyGreyFox said:
My boss must easily be on £60,000+ a year and her husband has a very high paying job of around the same figure.
A month ago she came in moaning that she needed a £1000 job on her car but they hadn't got the money to fix it :eek:
You have to wonder how some people live.
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It is all relative. Personally though I'm quite happy living well within my means - but this situation is becoming exceptional enough I might have to pay attention to it.
 
SexyGreyFox said:
My boss must easily be on £60,000+ a year and her husband has a very high paying job of around the same figure.
A month ago she came in moaning that she needed a £1000 job on her car but they hadn't got the money to fix it :eek:
You have to wonder how some people live.
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A lot of people spend to their income limit, and don't put much or any away.
So when they get a pay increase, even a large one that leaves them with an excess at the end of the month they don't think "I'll put some of that away" or "I'll use that to pay off some of my debt" they increase their spending to match the increase in income.

I know a few people like that, and they often don't seem to realise that if they cut back on their discretionary spending for a couple of months and use the money to pay off say a credit card they could end up in a much better position, or put it to one side for an emergency.

I've seen loads of people (especially in the US) complaining about the cost of things, and how they're not well off despite a 6 or 7 figure wage, and how if they had to pay an extra 1% in tax to say cover healthcare it would be too much for their finances (even if that was less than they were currently paying for their health insurance before any deductibles).
I think my favourite one was someone who was complaining about how much some basic things cost them, and that their couldn't afford to tip service staff any more, then to "prove" it included a break down of their finances which included things like a $1000 a week food budget that was separate from their "entertaining" and "entertainment" budgets, and didn't include the cost of the food for their live in nanny.
 
Pah, I have a higher than average amount of cash in my savings account, more than your average peasant.

It doesn't matter to me that it's earning 0%, in fact, I could easily smash it to bits with a lump hammer, and I could care less about it.
 
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