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Interest rates.
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By *ean counterMan
over a year ago
Market Harborough / Kettering |
Unfortunately interest rates are now at a "normal" level. It's only a shock to everyone because the rates have been abnormally low for the past 10 years. The only way to get inflation down (mainly caused by the actions of others in other countries) is to put up the interest rates. That is how the economy is run and controlled and believe it or not it's not the government's fault ! |
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Perhaps savings will be worth having if interest rates rise.
Had fuck all return for the last decade.
And before anyone thinks of giving me a lecture on mortgages becoming unaffordable, interest rates were up at 13% when I was paying mine off. |
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By (user no longer on site)
over a year ago
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The Bank of England sets interest rates and they are independent of Westminster and the government.
As Bean counter has mentioned above, interest rates are normalising now after having been kept artificially low for over 10 years in order to stimulate demand, which stimulates supply, which keeps people employed, which keeps tax revenues rolling in and GDP up, which stimulates demand for a country’s bond issuance, which means governments can borrow money from the markets in order to keep the services running in the country.
That’s the basic premise of it.
The good news is that core (consumer) inflation has begun to ease, albeit it’s still a very long way from the target of 2% set by the BoE. However, we now have wage inflation because the job market is still very tight.
It is expected that they will raise interest rates to 5.25% with a slim chance that it’ll be 5.50%.
For anyone interested, peak interest rate is expected to be 5.75% this year. This is the rate that banks borrow money from the BoE, not our bank borrowing/mortgage rate.
Miles |
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"believe it or not it's not the government's fault ! "
I do not.
They trashed the country and now we are paying for it. Increased transport costs and loss of “cheap” labour.
There’s no point having increased interest on your savings if the cost of buying anything goes up as well. |
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By (user no longer on site)
over a year ago
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"Didnt Liz Truss screw things up a few months back and caused the £ to drop?
This is caused by the Govt and their stupid policies.
"
She did but it didn’t last long. It crashed the £ for few minutes and then we were back up and running again within days.
It isn’t a bad thing to have a lower currency. Part of the reason why interest rates were kept artificially low was also to keep a currency low in order to make their exports cheaper. The European Central Bank was a master at this in the past decade, keeping the Euro low.
Miles |
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By *ean counterMan
over a year ago
Market Harborough / Kettering |
"Didnt Liz Truss screw things up a few months back and caused the £ to drop?
This is caused by the Govt and their stupid policies.
"
Nothing to do with interest rates ! That was tax related and look where she ended up !!  |
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By (user no longer on site)
over a year ago
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"Didnt Liz Truss screw things up a few months back and caused the £ to drop?
This is caused by the Govt and their stupid policies.
Nothing to do with interest rates ! That was tax related and look where she ended up !! "
Exactly. It wasn’t a monetary issue. It was a political one that caused a knee-jerk market reaction withlots of automatic sale orders/margin calls pushed through that exacerbated the drop for a while. |
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By (user no longer on site)
over a year ago
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Hi op
It is pretty scary
Bills hiked.. Companies making a profit for CEO government and shareholders
Interest rates.. My wages do not reflect cost of living.
Terrible for us all.
Only interest I have is having a good time in my swinging life. |
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"Perhaps savings will be worth having if interest rates rise.
Had fuck all return for the last decade.
And before anyone thinks of giving me a lecture on mortgages becoming unaffordable, interest rates were up at 13% when I was paying mine off. "
But you didn’t have the massive food, energy, etc costs then. |
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Almost 14 years of this inept, lying, self serving, tax evading, bigoted, racist supporting, sex pest promoting, worker hating, bunch of lunatics!
And still we have people persuaded to vote for them due to daily mail and bbc not holding them to account.
Country had gone to pot. |
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When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up. It's the same warning with investments that they can go down as well as up. Be careful out there people. |
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By *ean counterMan
over a year ago
Market Harborough / Kettering |
"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up. It's the same warning with investments that they can go down as well as up. Be careful out there people."
My point exactly, we've had things too good and money has been too cheap. A bit or correction required (not the kinky kind ya dirty buggers !! )  |
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up. It's the same warning with investments that they can go down as well as up. Be careful out there people."
This in a nutshell. |
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There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too. |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too. "
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish |
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By *hav02Man
over a year ago
Glasgow/London |
"Perhaps savings will be worth having if interest rates rise.
Had fuck all return for the last decade.
And before anyone thinks of giving me a lecture on mortgages becoming unaffordable, interest rates were up at 13% when I was paying mine off. "
It's Great having high rates for savings, but it all gets taxed  wish i put more into my isa portfolio years ago. |
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By (user no longer on site)
over a year ago
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"Almost 14 years of this inept, lying, self serving, tax evading, bigoted, racist supporting, sex pest promoting, worker hating, bunch of lunatics!
And still we have people persuaded to vote for them due to daily mail and bbc not holding them to account.
Country had gone to pot. "
They have our best interests at heart.  |
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By *ean counterMan
over a year ago
Market Harborough / Kettering |
"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too. "
Good god ! Can you imagine what the last 5 years would have looked like and where we would be now if labour had been in power !  |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up. "
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion. |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"
Good god ! Can you imagine what the last 5 years would have looked like and where we would be now if labour had been in power ! "
Whataboutery is always a way to try and deflect
Lets stick to the topic anyway please |
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By *ean counterMan
over a year ago
Market Harborough / Kettering |
"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion."
Also, most people saved up and bought their car outright so no monthly payments, no monthly mobile phone bill, no broadband bill, no sky tv subscription, no TVs on monthly payments etc etc |
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Interest rates aren’t high, they are simply back to almost normal.
Interest rates have been much higher in the past. They’ve only been lower and down to zero while quantative easing(money printing for want of a better phrase), was in progress. |
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"Interest rates aren’t high, they are simply back to almost normal.
Interest rates have been much higher in the past. They’ve only been lower and down to zero while quantative easing(money printing for want of a better phrase), was in progress."
But cost of living higher, wages lower in comparison |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion.
Also, most people saved up and bought their car outright so no monthly payments, no monthly mobile phone bill, no broadband bill, no sky tv subscription, no TVs on monthly payments etc etc"
We did, we had a TV on rent. A landline phone bill ( most people have now swopped to mobiles ) Utility bills that were not through the roof. We put money away every week when paid.
Not spending £6.99 on Netflix will not make a huge dent in a huge mortgage but I am guessinf for some that will be gone now.
No we didn't buy on HP, if we didn't have the money to buy we did without.
This attitude seems to assume that people have not given up luxuries to be able to pay their bills. That they don't know how to budget and that they don't know how to cook
It really does sound condescending.
For us we are fine but there are a lot of people who are struggling so a bit of empathy isn't a bad thing |
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion."
And if there's childcare involved. Mine is one and a half times my mortgage. That was never the case years ago |
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"Interest rates aren’t high, they are simply back to almost normal.
Interest rates have been much higher in the past. They’ve only been lower and down to zero while quantative easing(money printing for want of a better phrase), was in progress.
But cost of living higher, wages lower in comparison "
But cost of living stagnated with low interest rates for over 10 years, as did wages. Rather than things going up gradually, they’ve actually made a large single jump which is why it’s more noticeable.
That’s not to say that some retailers are in fact using the cost of living crisis to inflate prices for profits. They are making hay while the sun shines or so they say. |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion.
And if there's childcare involved. Mine is one and a half times my mortgage. That was never the case years ago"
Yep that too for a lot of people. When mine were little we were lucky enough to drop my job and stay at home with the kids. But that was because all factors for us were better than they seem to be now.
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion.
Also, most people saved up and bought their car outright so no monthly payments, no monthly mobile phone bill, no broadband bill, no sky tv subscription, no TVs on monthly payments etc etc
We did, we had a TV on rent. A landline phone bill ( most people have now swopped to mobiles ) Utility bills that were not through the roof. We put money away every week when paid.
Not spending £6.99 on Netflix will not make a huge dent in a huge mortgage but I am guessinf for some that will be gone now.
No we didn't buy on HP, if we didn't have the money to buy we did without.
This attitude seems to assume that people have not given up luxuries to be able to pay their bills. That they don't know how to budget and that they don't know how to cook
It really does sound condescending.
For us we are fine but there are a lot of people who are struggling so a bit of empathy isn't a bad thing"
I think that the way some people have adapted to the subscription lifestyle rather than ownership does make like more expensive for them.
I agree, Netflix wont make a difference, but a family of four with four iPhones and contracts rather than one landline. Then there are people who never own vehicles and pay a monthly subscription to lease them. Usually replacing with new every two or three years.
Now I’m not saying that this is bad, they don’t worry about mots and servicing, but neither do they own anything tangible.
Life has changed from when I was young, the two biggest things that I see that young people struggle with is houses and motor insurance. Both are ridiculously overpriced and needs addressing.
I have a theory about debt being the new religion to make people easy to control, but I’ll no doubt be accused of a conspiracy theorist for mentioning that.
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"Perhaps savings will be worth having if interest rates rise.
Had fuck all return for the last decade.
And before anyone thinks of giving me a lecture on mortgages becoming unaffordable, interest rates were up at 13% when I was paying mine off. "
This 
Paying rent and trying to save for a mortgage has been impossible, what annoys me more, is the monthly mortgage payment amount is nowhere near my monthly rent. I can afford the repayment but can't save to get a deposit... |
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"My interest rate in the news in general appears to be inversely correlated to the Bank of England's rate. My mental health is better for it too.
LvM
Excellent maths  "
There's a first time for everything 
LvM |
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"Didnt Liz Truss screw things up a few months back and caused the £ to drop?
This is caused by the Govt and their stupid policies.
"
… for about 2 days. But if you went to cling on to blaming her, fire away |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"Expected to go up again today as everyone is spending money on food and bills according to The Tory party.
Billionaire PM says we must slow down spending. "
Spending is out of control but it’s not where you think.
Local pubs and restaurants in town and cities feeling the squeeze and most their customers spend less. But go out to the nice restaurants in the affluent villages, very different story.
There is lot of disposable income in the system. But they are too scared to raise tax |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
“ Interest rates will stay higher for longer, the Bank of England has said for the first time, in an effort to drive down stubborn inflation.”
What we all knew anyway
For clever people they really don’t understand the lag effect well. America gets it. Yes they misuse it when it comes to energy price regulation , how can such clever people acts like such dummies with the economy |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish "
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees. |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Good god ! Can you imagine what the last 5 years would have looked like and where we would be now if labour had been in power ! "
Given Brexit, Covid and the turbulence of the global economy over the last decade, it would be pure speculation but given that it is actually civil servants who run the country, I am guessing we would be in exactly the same place. |
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I was thinking it will not be long before someone will go on about abusing the system and have a bash at the disabled and the less fortunate. We all know there arec a few who abuse the system in every walk of life. I don't care. I leave that to the tabloid media you read. I rather care about the volnerable and the needy and there ate plenty about. As someone said, we have become more selfish and 'I am alright Jack' society. I rather have empathy that deep seated hatred and misplaced political dogma. As usual I am off this thread and no doubt someone will not like what I said but I won't know |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees."
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate"
Defrauding the benefit system is a crime and there is a high rate of people doing it.
Ultimately we will end up with high crime rate anyway as the current model in which funding is decreasing and demand is growing achieves the same as not having a system anyway.
Don’t want to stress the point but doing away with the benefits system also does away with illegal immigration and that is not going to end peacefully either. |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate
Defrauding the benefit system is a crime and there is a high rate of people doing it.
Ultimately we will end up with high crime rate anyway as the current model in which funding is decreasing and demand is growing achieves the same as not having a system anyway.
Don’t want to stress the point but doing away with the benefits system also does away with illegal immigration and that is not going to end peacefully either."
Tax evasion is costing more than any benefit fraud. Ppe fraud. Illegal immigration is still a crime. Asylum seeking is not |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Good god ! Can you imagine what the last 5 years would have looked like and where we would be now if labour had been in power !
Given Brexit, Covid and the turbulence of the global economy over the last decade, it would be pure speculation but given that it is actually civil servants who run the country, I am guessing we would be in exactly the same place."
Genuinely think be the same? Come on!! Tories have wrecked the country. Blamed Brexit they caused! We are once again the poor man of Europe and now a laughing stock third country |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate"
Please don't tell me that you think the education system in the UAE is better?!  |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate
Defrauding the benefit system is a crime and there is a high rate of people doing it.
Ultimately we will end up with high crime rate anyway as the current model in which funding is decreasing and demand is growing achieves the same as not having a system anyway.
Don’t want to stress the point but doing away with the benefits system also does away with illegal immigration and that is not going to end peacefully either."
You'd do away with benefits? Across the board? Riiiiiiiiight.
How would those who are very much unable to work, survive?
Signed,
A disabled person who doesn't claim benefits (so it's not me having a personal vested interest, for the record) |
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By (user no longer on site)
over a year ago
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up. It's the same warning with investments that they can go down as well as up. Be careful out there people."
Absolutely right the same here, the rate was 10% when we bought our first house .
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate
Please don't tell me that you think the education system in the UAE is better?! "
Well, the international schools generally have the best teachers from the UK running them. and teaching in them, so yes. Universities, no, most British teachers here on their own kids places like France or Holland to University, it’s as good as the UK, but a fraction of the cost |
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"
Please don't tell me that you think the education system in the UAE is better?!
Well, the international schools generally have the best teachers from the UK running them. and teaching in them, so yes. Universities, no, most British teachers here on their own kids places like France or Holland to University, it’s as good as the UK, but a fraction of the cost"
International schools don't count, they are nothing to do with the state education system in that country and are only for those who can afford to pay for it. Lots of them are full of expat kids being funded by companies their parents work for. The quality of state education across the Middle East is woeful. Please don't try to tell me otherwise because I see it every single day. |
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"The high street retailer have had their worst quarter on record, so slowing spwnding is bollocks. "
Yep..raise interest rates so ppl spend less causing shop closure or staff lay offs and unemployment.
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate
Please don't tell me that you think the education system in the UAE is better?!
Well, the international schools generally have the best teachers from the UK running them. and teaching in them, so yes. Universities, no, most British teachers here on their own kids places like France or Holland to University, it’s as good as the UK, but a fraction of the cost"
Incidentally they don't get the best teachers. Many schools are scrambling in July looking for September particularly in the Middle East. When I worked internationally I got told in one school their mantra for teachers was 'work hard, play hard'. I saw very little in the way of working hard. Best teachers, no. |
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"There are some people struggling but look how well the tourism and airlines are doing so not everyone is struggling.
The pubs are still full of people and clothing stores and Amazon deliveries are at full tilt so I am not seeing the desperation that some people like to express.
Lastly, Tories have lost all credibility but thinking Labour has a sustainable plan is daydreaming too.
Some doing ok others are in desperate state. Uk used to care and help the less well off. Now? Selfish
I don’t think it is selfish. I believe that our social system was/is overly generous and so subject to abuse. We really have some able bodied people taking the piss and they need to get off their backsides and contribute otherwise it is just too little butter trying to be spread over too much bread. The butter being our tax revenue. I know she was/is unpopular but Margaret Thatcher was right when she tried to explain that there is no public money and that it did not simply grow on trees.
There’s no easy fix to this, unfortunately, in a country, like the UK, with a very low skills, low productivity and low education standards, you have to make a choice between a generous benefit system, or high crime rate
Please don't tell me that you think the education system in the UAE is better?!
Well, the international schools generally have the best teachers from the UK running them. and teaching in them, so yes. Universities, no, most British teachers here on their own kids places like France or Holland to University, it’s as good as the UK, but a fraction of the cost
Incidentally they don't get the best teachers. Many schools are scrambling in July looking for September particularly in the Middle East. When I worked internationally I got told in one school their mantra for teachers was 'work hard, play hard'. I saw very little in the way of working hard. Best teachers, no. "
I can't comment in too much detail but yes, we have experience interviewing many who return from such assignments.... |
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"I spend an absolute fortune on food. It's ridiculous what I spend now I could have got a couple of months' worth of groceries before the hike in prices"
We've noticed shelf prices for our regular items going up week by week. |
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What's the most you have heard of friends and family having to pay.
My friends fixed rate ends next month and the best they can find is a £750 per month increase.
It's getting crazy out there for some.
others still knocking out in their ferrari. |
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So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
|
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
"
Personal debt is through the roof too |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Personal debt is through the roof too "
Bad choices, not bad debt! |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Personal debt is through the roof too
Bad choices, not bad debt!"
I think the pandemic period has shown people that they should seize the day, because something could come along at any time to stop them having a holiday, going out etc. Carpe Diem and all that.
Of course, the people struggling the most are not the ones going abroad or to concerts or football. They are the ones with personal debt that's being used to pay essential bills. |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Personal debt is through the roof too
Bad choices, not bad debt!
I think the pandemic period has shown people that they should seize the day, because something could come along at any time to stop them having a holiday, going out etc. Carpe Diem and all that.
Of course, the people struggling the most are not the ones going abroad or to concerts or football. They are the ones with personal debt that's being used to pay essential bills. "
There has always been a % of people who find themself in trouble with money I do agree may be more as their mortgages are up for renewal but this has been predicted for at least 2 years but they have continued to sleepwalk into the wall good thing there are lots of opportunity to work maybe take second jobs to see them through I know I have work 2 jobs or done many hours of overtime when need to put food on he table.. |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Personal debt is through the roof too
Bad choices, not bad debt!
I think the pandemic period has shown people that they should seize the day, because something could come along at any time to stop them having a holiday, going out etc. Carpe Diem and all that.
Of course, the people struggling the most are not the ones going abroad or to concerts or football. They are the ones with personal debt that's being used to pay essential bills. "
This is very true, and it’s a cycle that once trapped in is very difficult to break. |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
"
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome"
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
The choices they made are generational , parents and grandparents not understanding 21st century skills and the need for university education. What choice do they have now ? A life on min wage? Hoping for labour to raise it a few pence. ? It’s not a great story - that’s why labour are unattractive, no aspirations.
Once you have kids it’s hard to go back to university but many people do and 10-15 years later things look very different |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
https://amp.theguardian.com/business/2023/aug/03/budget-retailer-wilko-makes-administration-move-risking-12000-jobs
^ Example , owners took £3 million in dividends, while putting 12,000 minimum wage jobs at risk |
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By (user no longer on site)
over a year ago
|
"
Only some are suffering and they should have made better choices or they would be fine now too..
"
Better choices?
Should they have budgeted for a 110% rise in energy costs and 25% rise in food costs in 2 years? What about 12 years of austerity, and a global pandemic? Should have seen it all coming and made better choices. |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
"
That’s pathetic! Be like saying people are starving in Africa they should have moved to Europe!! Ffs
Or people living on the streets must have made bad choices as royal family are loaded!! |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
"
How do you know what choices these people made?  |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
How do you know what choices these people made? "
Choose to be sick. Choose to lose a partner. Chose to be made redundant! Ffs think it might be Lee Anderson on this thread!!! |
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion.
Also, most people saved up and bought their car outright so no monthly payments, no monthly mobile phone bill, no broadband bill, no sky tv subscription, no TVs on monthly payments etc etc"
You can live without mobile phones, broadband, Sky tv etc etc we didn’t have any of that back then people have had it to easy for so long |
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By (user no longer on site)
over a year ago
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"When I took out my first mortgage 30 years ago I was counseled by a friend who was an economist to be very careful and have a plan in place if the interest rate went up to 15%. Luckily that never happened. But people taking out mortgages have been lulled into a false sense of security. I feel terribly sorry for those who are struggling but it is a key part of mortgages that they can go up.
Same here ( although about 40 years for us ) We also had the mortgage go up to over 15% at one point, that was hairy. However, we had a mortgage of 3 times one wage and 1 of the other. We also didn't have a cost of living crisis going on with increases in food/ utilities / fuel/ council tax/ water etc etc all while wages staying stagnent for a lot of people.
Now people have to contend with all the above as well as a mortgage that is up to seven times your wages because of the price of houses
We had it much easier in my opinion.
Also, most people saved up and bought their car outright so no monthly payments, no monthly mobile phone bill, no broadband bill, no sky tv subscription, no TVs on monthly payments etc etc
You can live without mobile phones, broadband, Sky tv etc etc we didn’t have any of that back then people have had it to easy for so long "
20% of the UK's population is living in poverty*. I'm absolutely sure that you and the Daily Mail and it's demonisation of the poor are spot on and it's all because they have Sky TV.
Source: Joseph Rowntree Foundation
Around one in five of our population (20%) were in poverty in 2020/21 - that's 13.4 million people. Of these:
7.9 million were working-age adults
3.9 million were children
1.7 million were pensioners
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It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed |
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"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed "
Every company and business wants you to use an app as well.
They give you all these incentives to use the app.
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"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed "
I totally agree with what you are saying.
But what I've seen mainly deal with 18-25 year olds. I think that I think they're used to a high standard of living. In general they've all got newer cars, phones, laptops, clothes the list is endless, yet they complain they are broke. Where in reality they're not.
I think there's a massive difference between those who think they're skint and those who are actually in poverty |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
"
How much do they get? |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"https://amp.theguardian.com/business/2023/aug/03/budget-retailer-wilko-makes-administration-move-risking-12000-jobs
^ Example , owners took £3 million in dividends, while putting 12,000 minimum wage jobs at risk"
Sadly this is happening with a lot of business. Water for one, we don't have enough money to fix the issues we have with infrastructure so we will put bills up to cover it while giving shareholders millions.
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed
I totally agree with what you are saying.
But what I've seen mainly deal with 18-25 year olds. I think that I think they're used to a high standard of living. In general they've all got newer cars, phones, laptops, clothes the list is endless, yet they complain they are broke. Where in reality they're not.
I think there's a massive difference between those who think they're skint and those who are actually in poverty "
I agree with this to a certain extent, a sense of entitlement and expectation seems to be about for some people. However a lot of that age group probably still live at home so will be spending more money on themselves and good luck to them but the people who seem to be struggling are the people who rent or have mortgages and possibly a young family.
If they were already close to struggling then this will have sent them over the edge especially if they are one of the many who are on minimum wage and no hope of a pay rise or no hope of one that doesn't match inflation.
|
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"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed
I totally agree with what you are saying.
But what I've seen mainly deal with 18-25 year olds. I think that I think they're used to a high standard of living. In general they've all got newer cars, phones, laptops, clothes the list is endless, yet they complain they are broke. Where in reality they're not.
I think there's a massive difference between those who think they're skint and those who are actually in poverty
I agree with this to a certain extent, a sense of entitlement and expectation seems to be about for some people. However a lot of that age group probably still live at home so will be spending more money on themselves and good luck to them but the people who seem to be struggling are the people who rent or have mortgages and possibly a young family.
If they were already close to struggling then this will have sent them over the edge especially if they are one of the many who are on minimum wage and no hope of a pay rise or no hope of one that doesn't match inflation.
"
Totally agree with you. The youngesters I deal with are away from home in general but they generally don't have responsibilities. But I think when people say about oh they're saying they are skint but they have all these things, they're thinking of this subset of people. Not the actual ones who are properly struggling. |
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"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed
I totally agree with what you are saying.
But what I've seen mainly deal with 18-25 year olds. I think that I think they're used to a high standard of living. In general they've all got newer cars, phones, laptops, clothes the list is endless, yet they complain they are broke. Where in reality they're not.
I think there's a massive difference between those who think they're skint and those who are actually in poverty "
You know how many kids in uk in food poverty? We are 6th richest country in the world….dropping down since the Brexit disaster but still rich. Pay rise for MPs, millions in pay rise to king….junior doctors on 14 quid an hour! |
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By *rHotNottsMan
over a year ago
Dubai & Nottingham |
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?"
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare… |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…"
Yes this is my situation. It's childcare that's brutal. Mine is £1300 a month just on my salary (and that's a childminder never mind a nursery). Plus if you have a mortgage you get no help with housing. I'm losing money working. I'm going down to 3 days to claim UC bc I'm better off, but I do want to work rather than not at all. A ridiculous system. Esp when the education sector is crying out for teachers. Sadly on 3 days I can't teach A Level or GCSE which is what I've always done, so again a waste of my 10 years at uni really and 20 years teaching experience. |
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By (user no longer on site)
over a year ago
|
" ………
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids.…"
Are these the figures for basic benefits? Does it depend on how many children to get the higher sum?
Miles |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Yes this is my situation. It's childcare that's brutal. Mine is £1300 a month just on my salary (and that's a childminder never mind a nursery). Plus if you have a mortgage you get no help with housing. I'm losing money working. I'm going down to 3 days to claim UC bc I'm better off, but I do want to work rather than not at all. A ridiculous system. Esp when the education sector is crying out for teachers. Sadly on 3 days I can't teach A Level or GCSE which is what I've always done, so again a waste of my 10 years at uni really and 20 years teaching experience. "
Do you mind if I PM you about how you might be able to teach A level equivalent on PT? |
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"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Yes this is my situation. It's childcare that's brutal. Mine is £1300 a month just on my salary (and that's a childminder never mind a nursery). Plus if you have a mortgage you get no help with housing. I'm losing money working. I'm going down to 3 days to claim UC bc I'm better off, but I do want to work rather than not at all. A ridiculous system. Esp when the education sector is crying out for teachers. Sadly on 3 days I can't teach A Level or GCSE which is what I've always done, so again a waste of my 10 years at uni really and 20 years teaching experience.
Do you mind if I PM you about how you might be able to teach A level equivalent on PT? "
Not at all |
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"It's very difficult to live without a phone nowadays. Sure it's possible but how do you access the net, apply for jobs, help your kids with homework etc?
Please don't say go to the library, they're mostly closed
I totally agree with what you are saying.
But what I've seen mainly deal with 18-25 year olds. I think that I think they're used to a high standard of living. In general they've all got newer cars, phones, laptops, clothes the list is endless, yet they complain they are broke. Where in reality they're not.
I think there's a massive difference between those who think they're skint and those who are actually in poverty
You know how many kids in uk in food poverty? We are 6th richest country in the world….dropping down since the Brexit disaster but still rich. Pay rise for MPs, millions in pay rise to king….junior doctors on 14 quid an hour! "
Erm not sure how that is relevant to me stating that there is a difference between skint and poverty. This is coming from someone who grew up in poverty, i.e. no heating in the house, windows froze on the inside, parents who couldn't afford to buy is kids one pair of shoes. I've lived that life and am well aware of its effects on people. So no need to get on your high horse with me ta muchly |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
"
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators |
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By (user no longer on site)
over a year ago
|
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators"
£60 a week rent? Where would that be? Orkney Isles? |
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By (user no longer on site)
over a year ago
|
Every major country in the World has had to ramp up interest rates since 2021 because of inflation. The only country not to do so is Japan, holding theirs at -0.1% because of a fragile economy and chronic deflation.
It isn’t the government’s doing. Whichever party it is, interest rates would have done what it has done.
If anything, inflation might’ve been worse if Labour were running the country due to even bigger wage inflation and more money pumped into the economy through their increased spending.
Miles |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators
£60 a week rent? Where would that be? Orkney Isles?
"
lol I know, I imagined it being a shoebox if it was private renting and knew someone would say where the hell is that?
It was fictious, I am not really a man living alone in a shoebox aged 37 |
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By (user no longer on site)
over a year ago
|
"
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators
£60 a week rent? Where would that be? Orkney Isles?
lol I know, I imagined it being a shoebox if it was private renting and knew someone would say where the hell is that?
It was fictious, I am not really a man living alone in a shoebox aged 37 "
I was beginning to suspect you were a single man faking a couple’s profile. Even parking spaces cost nearly £20 a day at some shopping centres nowadays.  |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"Every major country in the World has had to ramp up interest rates since 2021 because of inflation. The only country not to do so is Japan, holding theirs at -0.1% because of a fragile economy and chronic deflation.
It isn’t the government’s doing. Whichever party it is, interest rates would have done what it has done.
If anything, inflation might’ve been worse if Labour were running the country due to even bigger wage inflation and more money pumped into the economy through their increased spending.
Miles
"
The higher end of the scale seems ok to have wage rises, it is just the lower end of the scale that some people say will affect the ecomony
https://www.theguardian.com/money/2023/jun/25/union-fury-as-figures-show-pay-rises-among-top-earners-driving-inflation |
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators
£60 a week rent? Where would that be? Orkney Isles?
lol I know, I imagined it being a shoebox if it was private renting and knew someone would say where the hell is that?
It was fictious, I am not really a man living alone in a shoebox aged 37
I was beginning to suspect you were a single man faking a couple’s profile. Even parking spaces cost nearly £20 a day at some shopping centres nowadays. "
I am beginning to think you are missing the point or trying to deflect the point that there is a discrepency to what people think others get on benefits
|
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By (user no longer on site)
over a year ago
|
"
It seems it depends on who is getting the wage rise as to whether they claim it hurts the economy or not.
https://www.theguardian.com/money/2023/jun/25/union-fury-as-figures-show-pay-rises-among-top-earners-driving-inflation"
That’s true but given the spate of public sector strikes over it in the past couple of years, I would imagine they would have had the unions’ demands met with bigger rises. Also, increased benefits beyond what the Tories have given. |
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By (user no longer on site)
over a year ago
|
"
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators
£60 a week rent? Where would that be? Orkney Isles?
lol I know, I imagined it being a shoebox if it was private renting and knew someone would say where the hell is that?
It was fictious, I am not really a man living alone in a shoebox aged 37
I was beginning to suspect you were a single man faking a couple’s profile. Even parking spaces cost nearly £20 a day at some shopping centres nowadays.
I am beginning to think you are missing the point or trying to deflect the point that there is a discrepency to what people think others get on benefits
"
Ah yes, I apologise. I digress from what seemed to be huge discrepancy with the £16,xxx that was mentioned. |
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By (user no longer on site)
over a year ago
|
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators"
He's quoted the benefits cap for anyone living in London. |
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|
By (user no longer on site)
over a year ago
|
"So you are telling me people have no money but football attendance in the Premier League through the roof last season thousands of people went to a Glastonbury and other festivals around the country Taylor Swift sold concert tickets for £300 per seat and sales of foreign holidays through the roof and not just a cheap place in Europe but right across the world to places like Mexico and the Maldives.
Only some are suffering and they should have made better choices or they would be fine now too..
Those suffering should have made better choices.... sometimes there are little in the way of choices and 'fine' might never be the outcome
The workers at the bottom are suffering, almost everyone else is doing very well , they is an huge amount of spending right now, even those on benefits are better off that low paid workers with families and are spending a larger proportion the benefits than ever before - 20-30 years ago it would have been enough to cover bills and food only.
How much do they get?
A single person up to £16,967 a year if no kids or £25,323 a year with kids. To earn that you’d need a salary of £31,325 but you’d still be worse off because going to work itself can be expensive and you’d have 50 hours a week less to look after the kids and cook etc , then there’s the childcare…
Funnily enough I went to a benfit calculator to have a nose, I put in that I was a single man living alone playing £60 rent a week and got a result of £ 145.09 per week plus £ 13.12 per week council tax support which works out at £8226.92 a year for a single person renting. I didn't do a couple one before posting this
Which site did you use to get the figures you did? I used this one
https://www.gov.uk/benefits-calculators
He's quoted the benefits cap for anyone living in London. "
That is, he hasn't put any figures into a calculator. He's claimed that anyone on universal credit will get the amount capped for those living in London. Don't know if I can link that site? |
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By (user no longer on site)
over a year ago
|
"
Ah yes, I apologise. I digress from what seemed to be huge discrepancy with the £16,xxx that was mentioned.
No problem
Signed : Billy from Barrrrnssley aged 37 and a half "
|
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By (user no longer on site)
over a year ago
|
" …….
He's quoted the benefits cap for anyone living in London.
That is, he hasn't put any figures into a calculator. He's claimed that anyone on universal credit will get the amount capped for those living in London. Don't know if I can link that site? "
Would the cap include rent? If so, no wonder they’re ending up homeless.
Miles |
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By (user no longer on site)
over a year ago
|
" …….
He's quoted the benefits cap for anyone living in London.
That is, he hasn't put any figures into a calculator. He's claimed that anyone on universal credit will get the amount capped for those living in London. Don't know if I can link that site?
Would the cap include rent? If so, no wonder they’re ending up homeless.
Miles"
This is the link with all the Universal Credit figures. The cap includes housing benefit.
https://www.understandinguniversalcredit.gov.uk/new-to-universal-credit/how-much-youll-get/
|
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"
It seems it depends on who is getting the wage rise as to whether they claim it hurts the economy or not.
https://www.theguardian.com/money/2023/jun/25/union-fury-as-figures-show-pay-rises-among-top-earners-driving-inflation
That’s true but given the spate of public sector strikes over it in the past couple of years, I would imagine they would have had the unions’ demands met with bigger rises. Also, increased benefits beyond what the Tories have given."
That makes no sense sorry, I have seen nothing to suggest any of that.
It also isn't unions demands for people wanting a wage rise, the workers want it and vote for it because their wages are not high enough to cope with inflation.
What do you think about pay rises for the higher earners? |
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By *orl1971Couple
over a year ago
Glasgow |
Quick google
US Fed interest rate - 5.5%
ECB interest rate - 4.5%
Average US interest rate over last 100 years is around 5%
In last 50 years it looks like interest rates are were only below 5% for maybe 16/17 years and 14/15 of those have been since the financial crisis.
Interest rates have all gone up by an order of magnitude in U.K., Europe and US. Where is the U.K. substantially different in terms of interest rates?
The data suggests interest rates have gone up hugely in many countries. |
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By (user no longer on site)
over a year ago
|
" …….
He's quoted the benefits cap for anyone living in London.
That is, he hasn't put any figures into a calculator. He's claimed that anyone on universal credit will get the amount capped for those living in London. Don't know if I can link that site?
Would the cap include rent? If so, no wonder they’re ending up homeless.
Miles
This is the link with all the Universal Credit figures. The cap includes housing benefit.
https://www.understandinguniversalcredit.gov.uk/new-to-universal-credit/how-much-youll-get/
"
Thanks. |
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By (user no longer on site)
over a year ago
|
"
It seems it depends on who is getting the wage rise as to whether they claim it hurts the economy or not.
https://www.theguardian.com/money/2023/jun/25/union-fury-as-figures-show-pay-rises-among-top-earners-driving-inflation
That’s true but given the spate of public sector strikes over it in the past couple of years, I would imagine they would have had the unions’ demands met with bigger rises. Also, increased benefits beyond what the Tories have given.
That makes no sense sorry, I have seen nothing to suggest any of that.
It also isn't unions demands for people wanting a wage rise, the workers want it and vote for it because their wages are not high enough to cope with inflation.
What do you think about pay rises for the higher earners? "
The unions speak for their members and make the demands based on what their members want, hence my saying “unions’ demands”, based on their representation of their members.
The article is being selective in what it wants to represents. I agree that the public sector and lower earners needed their wages increased to meet the inflation demands from external factors like the war in Ukraine and squeeze on international supply chains. However, the smaller increases match the lower taxes they pay, including zero tax for the Personal Allowance.
As for the high earners, it isn’t anything out of the ordinary to have those increases. How much did they add to inflation in normal years?
We didn’t have wage led inflation of this scale in previous years, even with these regular wages and bonuses.
These high earners are paying 40-45% income tax without the benefit of the Personal Allowance. For those earning between £100.000-£125,000, they are, essentially, paying 60% tax because they no longer qualify for the tax free Personal Allowance.
Miles |
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"Quick google
US Fed interest rate - 5.5%
ECB interest rate - 4.5%
Average US interest rate over last 100 years is around 5%
In last 50 years it looks like interest rates are were only below 5% for maybe 16/17 years and 14/15 of those have been since the financial crisis.
Interest rates have all gone up by an order of magnitude in U.K., Europe and US. Where is the U.K. substantially different in terms of interest rates?
The data suggests interest rates have gone up hugely in many countries. "
This is true, and as said earlier, the interest rates have been set to zero or a point above for over ten years to allow the quantative easing. Which in itself will cause inflation in the long run by de-valuing the currency.
Interest rates are now at a healthy level. People have just gotten used to artificially low interest rates for a while.
Low interest rates stimulate borrowing. People have learned that servicing debt is quite cheap and that they can afford that new car / house / whatever. It is those people who will feel the squeeze on their debt service costs and perhaps default.
People in true poverty are already struggling and have been for a long time. They wouldn’t be able to use credit either way so it will be day to day inflation that hits them.
|
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By *ugby 123Couple
over a year ago
Forum Mod O o O oo |
"
It seems it depends on who is getting the wage rise as to whether they claim it hurts the economy or not.
https://www.theguardian.com/money/2023/jun/25/union-fury-as-figures-show-pay-rises-among-top-earners-driving-inflation
That’s true but given the spate of public sector strikes over it in the past couple of years, I would imagine they would have had the unions’ demands met with bigger rises. Also, increased benefits beyond what the Tories have given.
That makes no sense sorry, I have seen nothing to suggest any of that.
It also isn't unions demands for people wanting a wage rise, the workers want it and vote for it because their wages are not high enough to cope with inflation.
What do you think about pay rises for the higher earners?
The unions speak for their members and make the demands based on what their members want, hence my saying “unions’ demands”, based on their representation of their members.
The article is being selective in what it wants to represents. I agree that the public sector and lower earners needed their wages increased to meet the inflation demands from external factors like the war in Ukraine and squeeze on international supply chains. However, the smaller increases match the lower taxes they pay, including zero tax for the Personal Allowance.
As for the high earners, it isn’t anything out of the ordinary to have those increases. How much did they add to inflation in normal years?
We didn’t have wage led inflation of this scale in previous years, even with these regular wages and bonuses.
These high earners are paying 40-45% income tax without the benefit of the Personal Allowance. For those earning between £100.000-£125,000, they are, essentially, paying 60% tax because they no longer qualify for the tax free Personal Allowance.
Miles"
We all get a personal allowance when earning up to 125k, then we start paying tax.
The question was more, you said wages fuel inflation, the article mentioned it only seems to be people earning higher wages are getting rises...so if they get rises won't that fuel inflation too? |
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