[Finance] How much savings do you have ?

[spongy]

You have a stable relationship and lovely daughter. Money isn’t everything in life, and you never know what tomorrow will bring. Keep your chin up.

Lovely daughter yes. Relationship is as stable as can be. Money problems are a massive cause of stress and things get a bit heated occasionally. If I could afford life insurance then not knowing what's around the corner wouldn't be as much of an issue.

I imagine dying is like eventually going to sleep not having any worries anymore.

Nothing beats leaving the house and getting in the car and doing the little prayer hoping to god another warning light hasnt come on.

 

[Simster]

We have a "bills" account. Alongside our joint account. We know what all our bills are.

Rent
Council tax
Gas
Electric
Water
Broadband
BT tv
Mobile phone x2
Car tax x2
Petrol
Diesel
Car insurance x2
Her car H.P.
My ST
Tv license
Her contact lenses
Her glasses
Childcare

And the rest I can't remember

We both put in enough to cover everything. We even over pay on gas and electric to cover the winter months.

Depending on whether I've done 40 or 50 hours overtime in the month we can afford for me to do an occasional away day.

After we've put that aside we have maybe 400 disposable. And out of that comes food.

Aldi is our saviour so we can feed ourselves and stock the freezer for 150 a month but still need perishables such as milk, butter, fruit etc.

That gives us about 250 to spend. Not a lot with a 4 year old that needs entertaining every weekend.

We live to our last £10 in the bank and that regularly has to last us 3-4 days.

We've got nearly 4k on credit cards after our last few emergencies but managing to pay off the minimum amounts and balance transferring every year to keep at 0%.

I've read the whole of this thread before replying to this and sat here in tears where ive gone wrong in my life and I could seriously slit my ****ing wrists right now.

I turned 40 last month. I still don't own my own home. The truth is now hitting home that I never will. And it kills me. I have a wonderful 4 year old little girl right now cuddled up next to me on the sofa asleep. And right now i am haven't got a stable home for her.

Last year we had to do the whole school application thing. And got our preferred choice 250 yards down the road. Then in january our landlord told us he was selling the flat we were in so had to move out. It turned our world upside down. We had a private landlord so only paid 800 for a deposit. We've had to find somewhere else to live using an agency and had to find a months rent in advance + 6 weeks deposit + over 400 in fees.

We lived there for 4 years and paid nearly 50k off his mortgage for him. Then had to leave. We're now 8 months into this new place. And will pay over 12k off this blokes mortgage.

I should be paying my own but I can't get any capital for a deposit.

There's that wonderful "help to buy isa" so if you put 200 a month in the govt puts in 50.

Average house price round here is 300k for a shite 2 bed bungalow. So even if I could save 200 a month I will have a deposit in 10 years. If house prices are frozen until then. But I'll be 50 years old and unable to get a mortgage. I don't have any inheritance coming my way either to help out. I'm hoping on an on going PPI claim to hopefully clear the credit cards.

I work 12 hours a day to earn overtime and currently do between 40-60 hours a month over to give us a bit of cash.

Life is ****ing great isn't it?

This post may come across a bit bitter and jealous. But to be quite frank I am. I'd give anything to have the security in my life that some of you have.

I've read this message and find myself wanting to respond without sounding self righteous, pompous or equally unsympathetic. I'll try to find a balance and apologise in advance if I fail.

Firstly, there is no doubt that it is harder to save, do the right thing and find a path to financial security than it was 30 or even 20 years ago. I don't know you so can't comment on whether you have been bitterly unlucky or simply not sensible, and actually it doesn't matter. But what I will say is don't give up - 40 is still not old.

In all honesty, the hardest bit is the first bit. I think the best thing you can do for yourself is seek out people who have scrimped at your age and made a success of it because that will give you a bit of belief, and seriously that is a good part of the battle. Secondly, think about moving somewhere not so desirable to accelerate your ability to save. Thirdly, put Bozza's idea into practice (In fact, make that the second thing). Finally, do something to make a bit of pin money, ideally something you enjoy. £25 extra a week for something that doesn't feel like work then turns into £1200 a year. I'd suggest matched betting as that's what I do, or surveys at lunchtime, or web design if that's your thing.

I don't mean to be pompous and I'm not made of money myself, but I seriously believe some people do just need that belief and vision in the first place. Sadly for you, you're sounding beaten when you talk about slitting your wrists. Don't be beaten, you can do it.

 

[Bozza]

We have a "bills" account. Alongside our joint account. We know what all our bills are.

Rent
Council tax
Gas
Electric
Water
Broadband
BT tv
Mobile phone x2
Car tax x2
Petrol
Diesel
Car insurance x2
Her car H.P.
My ST
Tv license
Her contact lenses
Her glasses
Childcare

And the rest I can't remember

We both put in enough to cover everything. We even over pay on gas and electric to cover the winter months.

Depending on whether I've done 40 or 50 hours overtime in the month we can afford for me to do an occasional away day.

After we've put that aside we have maybe 400 disposable. And out of that comes food.

Aldi is our saviour so we can feed ourselves and stock the freezer for 150 a month but still need perishables such as milk, butter, fruit etc.

That gives us about 250 to spend. Not a lot with a 4 year old that needs entertaining every weekend.

We live to our last £10 in the bank and that regularly has to last us 3-4 days.

We've got nearly 4k on credit cards after our last few emergencies but managing to pay off the minimum amounts and balance transferring every year to keep at 0%.

I've read the whole of this thread before replying to this and sat here in tears where ive gone wrong in my life and I could seriously slit my ****ing wrists right now.

I turned 40 last month. I still don't own my own home. The truth is now hitting home that I never will. And it kills me. I have a wonderful 4 year old little girl right now cuddled up next to me on the sofa asleep. And right now i am haven't got a stable home for her.

Last year we had to do the whole school application thing. And got our preferred choice 250 yards down the road. Then in january our landlord told us he was selling the flat we were in so had to move out. It turned our world upside down. We had a private landlord so only paid 800 for a deposit. We've had to find somewhere else to live using an agency and had to find a months rent in advance + 6 weeks deposit + over 400 in fees.

We lived there for 4 years and paid nearly 50k off his mortgage for him. Then had to leave. We're now 8 months into this new place. And will pay over 12k off this blokes mortgage.

I should be paying my own but I can't get any capital for a deposit.

There's that wonderful "help to buy isa" so if you put 200 a month in the govt puts in 50.

Average house price round here is 300k for a shite 2 bed bungalow. So even if I could save 200 a month I will have a deposit in 10 years. If house prices are frozen until then. But I'll be 50 years old and unable to get a mortgage. I don't have any inheritance coming my way either to help out. I'm hoping on an on going PPI claim to hopefully clear the credit cards.

I work 12 hours a day to earn overtime and currently do between 40-60 hours a month over to give us a bit of cash.

Life is ****ing great isn't it?

This post may come across a bit bitter and jealous. But to be quite frank I am. I'd give anything to have the security in my life that some of you have.

There's always plenty of people better off than us, and also many worse off than us. Unfortunately, rightly or wrongly we rarely take comfort from the latter.

I can't wave any magic wand to make you feel better in the very short term, but I can offer to personally "coach you", for want of a better term, through matched betting (if you don't already do that, and don't have a gambling addiction) which will boost your earnings to make things a bit more comfortable and, hopefully, will allow you to spoil that wonderful little girl at Christmas.

 

[Weststander]

Lovely daughter yes. Relationship is as stable as can be. Money problems are a massive cause of stress and things get a bit heated occasionally. If I could afford life insurance then not knowing what's around the corner wouldn't be as much of an issue.

I imagine dying is like eventually going to sleep not having any worries anymore.

Nothing beats leaving the house and getting in the car and doing the little prayer hoping to god another warning light hasnt come on.

I’m ‘on your side’ 100%, so please don’t be offended by some small ideas:
Do you shop at Lidl? The savings are in the £100’s per month, and the food is often better.
Shop around each year on insurance?
As a tenant, can you have a say on home fuel provider?

Separate point re life assurance, if you’re going to do it, take it out soon. Term insurance can be cheap if you around online. Premiums, get them fixed for the term, are far lower taken out at age 40 rather than age 45.

 

[spongy]

Thanks everyone. Just feeling really low.

To top it off the Mrs went to a wedding reception tonight with the intention of coming home tonight. She just phoned pissed up saying she's bumming in a friend's room at a hotel.

Wouldn't usually have a problem with that. We all need a night out occasionally but I don't get one. I get my football fix but I'm always home before 7.30 to spend the night in.

I haven't been out with friends for an evening not football related since our girl was born.

To top it off she's got the car seat in her car in Battle. I'm now stuck at home not being able to take daughter out in the morning until she rolls in at **** knows what time in the morning.

Had enough.

 

[LamieRobertson]

Thanks everyone. Just feeling really low.

To top it off the Mrs went to a wedding reception tonight with the intention of coming home tonight. She just phoned pissed up saying she's bumming in a friend's room at a hotel.

Wouldn't usually have a problem with that. We all need a night out occasionally but I don't get one. I get my football fix but I'm always home before 7.30 to spend the night in.

I haven't been out with friends for an evening not football related since our girl was born.

To top it off she's got the car seat in her car in Battle. I'm now stuck at home not being able to take daughter out in the morning until she rolls in at **** knows what time in the morning.

Had enough.

Tomorrows another day...bite ya lip

 

[spongy]

I’m ‘on your side’ 100%, so please don’t be offended by some small ideas:
Do you shop at Lidl? The savings are in the £100’s per month, and the food is often better.
Shop around each year on insurance?
As a tenant, can you have a say on home fuel provider?

Separate point re life assurance, if you’re going to do it, take it out soon. Term insurance can be cheap if you around online. Premiums, get them fixed for the term, are far lower taken out at age 40 rather than age 45.

We shop at Lidl. Get all the major stuff and load the freezer for 150 a month. Then just milk, bread, fruit etc every week on top.

We have our own energy supplier so use Ovo I think. Cheapest one we can. Only been in here 8 months so can't change yet. Have to wait a year to change if we want to.

 

[Cotton Socks]

I’m ‘on your side’ 100%, so please don’t be offended by some small ideas:
Do you shop at Lidl? The savings are in the £100’s per month, and the food is often better.
Shop around each year on insurance?
As a tenant, can you have a say on home fuel provider?

Separate point re life assurance, if you’re going to do it, take it out soon. Term insurance can be cheap if you around online. Premiums, get them fixed for the term, are far lower taken out at age 40 rather than age 45.

Tenants can have a say on the fuel provider and i don't think that they actually need to ask the landlord. Just go to money saving expert dot com and switch (cashback offered too). Definitely shop for car insurance etc.
Re, term assurance even though it may be cheap, if you have the choice between immediate car failure (which will mean you can't work) or sticking however much in your life assurance policy there is no choice. If you don't die within the policy time (ie. 10 year policy) then you might as well have just spent it down the pub.

 

[spongy]

Tomorrows another day...bite ya lip

Too late. I've ignored 5 phone calls. Answered the last one. Tomorrow will be much fun.

 

[spongy]

I'm leav8ng this thread now until morning. I'm getting pissed and upset and I have no doubt little'un will be up at 6.

Thanks everyone. [MENTION=6886]Bozza[/MENTION] I shall be I touch about that profit squad thing. Been meaning to have a go but not willing to take the plunge as I'm not a betting man unless you include super6.

 

[Bozza]

I'm leav8ng this thread now until morning. I'm getting pissed and upset and I have no doubt little'un will be up at 6.

Thanks everyone. [MENTION=6886]Bozza[/MENTION] I shall be I touch about that profit squad thing. Been meaning to have a go but not willing to take the plunge as I'm not a betting man unless you include super6.

You don't need to know anything about betting at all. Give me a shout and let's try and make things a little bit better for you.

 

[Weststander]

Tenants can have a say on the fuel provider and i don't think that they actually need to ask the landlord. Just go to money saving expert dot com and switch (cashback offered too). Definitely shop for car insurance etc.
Re, term assurance even though it may be cheap, if you have the choice between immediate car failure (which will mean you can't work) or sticking however much in your life assurance policy there is no choice. If you don't die within the policy time (ie. 10 year policy) then you might as well have just spent it down the pub.

I only mentioned life assurance as [MENTION=20792]spongy[/MENTION] touched upon the subject. I was only thinking if and after some savings could be made elsewhere. (Or greater income from the [MENTION=6886]Bozza[/MENTION] idea). Obviously not a priority!

 

[Cotton Socks]

There's always plenty of people better off than us, and also many worse off than us. Unfortunately, rightly or wrongly we rarely take comfort from the latter.

I can't wave any magic wand to make you feel better in the very short term, but I can offer to personally "coach you", for want of a better term, through matched betting (if you don't already do that, and don't have a gambling addiction) which will boost your earnings to make things a bit more comfortable and, hopefully, will allow you to spoil that wonderful little girl at Christmas.

No offence [MENTION=6886]Bozza[/MENTION] but he said he's already working 12 hour days and from what i know about matched betting it takes time to be actually able to do it. As well as capital, £50 is a lot when you haven't got it. There is always that major risk that you just put that extra in on the slots etc as well. You have to be very strong willed not to do it.

 

[DavidinSouthampton]

For some of the younger ones on here, take heart. We have always been cr@p with money, trying to make sure we gave our two daughters good holidays and then helping them through University by paying their accommodation fees. Elder girl was in Cardiff for 3 years - OK - younger one was in London! studying to be a medic! for 6 years!!! but my wife has recently retired at the age of 64 from a well paid job in education with a good pension. She was always much better paid than me, anyway. I have just retired from one part-time job and am winding down from another.

 

[DavidinSouthampton]

For some of the younger ones on here, take heart. We have always been cr@p with money, trying to make sure we gave our two daughters good holidays and then helping them through University by paying their accommodation fees. Elder girl was in Cardiff for 3 years - OK - younger one was in London! studying to be a medic! for 6 years!!! but my wife has recently retired at the age of 64 from a well paid job in education with a good pension. She was always much better paid than me, anyway. I have just retired from one part-time job and am winding down from another.

 

[LlcoolJ]

For some of the younger ones on here, take heart. We have always been cr@p with money, trying to make sure we gave our two daughters good holidays and then helping them through University by paying their accommodation fees. Elder girl was in Cardiff for 3 years - OK - younger one was in London! studying to be a medic! for 6 years!!! but my wife has recently retired at the age of 64 from a well paid job in education with a good pension. She was always much better paid than me, anyway. I have just retired from one part-time job and am winding down from another.

Can't really take heart when most pensions are a pile of shite compared to those of the previous generations though.

 

[darkwolf666]

What I currently have in my pocket, as all the money in my bank accounts is currently ear-marked for one bill or another!

 

[DavidinSouthampton]

Can't really take heart when most pensions are a pile of shite compared to those of the previous generations though.

You're quite right and I guess it's down to do what you can. I didn't finish the story last night, and must gave pressed cancel instead of post when i edited. But we have now paid off a still quite big mortgage, all other debts - credit cards, car loans etc, got money left over from Mrs Doc's lump sum, whose pension we can comfortably live on and save as well. And I have and as yet largely untouched decent pension pot. We did use some of mine 4 years ago to do some stuff, including buying a second-hand motorhome for £25k - best thing we ever did.

But several times over the last few years we had despaired of ever being ok. We now are, and I hope things work out for others..... but know they won't always.

 

[cunning fergus]

Can't really take heart when most pensions are a pile of shite compared to those of the previous generations though.

The rot started when dividends to pensions were taxed, another accelerant to people realising buying a house and renting it out was a better option than saving in a pension.

Still, at least the cycle of boom and bust ended......

 

[Geestar]

£0

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