[Finance] BOE: The UK is like a coiled spring.

[Deleted member 2719]

How are NSC members and their overall wealth as of TODAY?

Are wealthy than last Feb, pre pandemic?

https://www.bbc.co.uk/news/business-56035488

**This was supposed to be a poll, but didn't get any options can a mod please make it one to hide any anonymity.

Options:

Better off
Worse Off
The same

 

[Goldstone1976]

15 posts, tops...

 

[Guinness Boy]

No one will be able to compete with [MENTION=12697]Steve Foster[/MENTION]

 

[Herr Tubthumper]

Bless

 

[El Presidente]

No one will be able to compete with [MENTION=12697]Steve Foster[/MENTION]

I think [MENTION=22671]Bognor Seagull[/MENTION] will match him pound for pound.


Sent from my iPad using Tapatalk

 

[dazzer6666]

Spent everything on wine, takeaways and Amazon deliveries. Skint.

 

[Deleted member 2719]

Spent everything on wine, takeaways and Amazon deliveries. Skint.

What about fewer car expenses and holidays

Or are we talking less income?

 

[Guinness Boy]

Spent everything on wine, takeaways and Amazon deliveries. Skint.

The rest you just wasted.......

 

[big nuts]

https://www.theguardian.com/money/2...sk-warns-regulator?CMP=Share_AndroidApp_Other

 

[Deleted member 2719]

https://www.theguardian.com/money/2...sk-warns-regulator?CMP=Share_AndroidApp_Other

So who to believe the BOE or a newspaper?

 

[dazzer6666]

What about fewer car expenses and holidays

Or are we talking less income?

Wine and takeaways have replaced holidays in the last year, planned a few for this year though (may or may not happen obviously)
Good point re driving - have driven 12 miles so far this year so car expenses are quite limited Did take the wife’s 14 year old Hyundai out yesterday and thrashed it up and down the A23 for a bit though because the battery was flat
Less income ? Hah. No income...........took redundancy in September and not working

 

[big nuts]

So who to believe the BOE or a newspaper?

They are talking about two different demographics, so both are true.

I’m better off, but the Virus has further polarised the wealthy and those who are vulnerable.

The average salary of someone furloughed is £17k pa. The people impacted for the worst will be the lower paid end of the spectrum. Use of food banks is on the rise, so whilst the majority will be better off, we should all recognise that for the most vulnerable, this is a really tough time.

I’d also say the government support schemes end in April and unemployment is predicted to rise to 8% so things could get worse before they get better.

 

[SweatyMexican]

I mean, he’s not going to say he’s “fearful and thinks a big recession is about to hit so be very careful”, is he.

 

[Iggle Piggle]

I'm thinking of going to B&Q and buying some creosote for the fence when it gets spring like if that helps.

 

[Thunder Bolt]

So who to believe the BOE or a newspaper?

Two sides to every story, and wise people look at both sides.

 

[beorhthelm]

So who to believe the BOE or a newspaper?

both. one is report from BoE on the wide economy as a whole. the other is a report from FCA on individuals being in financial difficulty. one is forward looking, the other recent or current state.

 

[Deleted member 2719]

Wine and takeaways have replaced holidays in the last year, planned a few for this year though (may or may not happen obviously)
Good point re driving - have driven 12 miles so far this year so car expenses are quite limited Did take the wife’s 14 year old Hyundai out yesterday and thrashed it up and down the A23 for a bit though because the battery was flat
Less income ? Hah. No income...........took redundancy in September and not working

Sorry to hear about the redundancy.

But as you sit at the moment looking at the overall picture when lockdown comes do you think you might be ready to uncoil?

I did the same thing with the wife's Honda!

 

[Lyndhurst 14]

 

[sparkie]

The value of my Pension Pot is up 13.5% on the start of 2020.

2 years 5 months until I can access it if funds are required in an extreme emergency. It would be most handy to keep my income before then, and ideal to keep it much longer.

 

[Kinky Gerbil]

I’m now addicted to gay porn.

It’s an expensive habit, so I have a lot less money.