Prepping for the next finacial crash?

How are you preparing
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itsybitsy
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Re: Prepping for the next finacial crash?

Post by itsybitsy »

metatron wrote: Mature students are also unlikely to ever pay back student loans.
Not necessarily true. I went to Uni as a mature student and I am most certainly paying my loans back!
jansman
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Re: Prepping for the next finacial crash?

Post by jansman »

Re- skilling,or retraining,is ( in theory) the way forward.However,as previously mentioned,it is usually at your own cost.Most folks set out in a path and generally stick to their chosen job,give or take sideways moved and so forth.Some though,change track totally.My wife started work in a shoe factory.Now she is a primary school teacher/youth worker.To get her to that point has cost a lot of dough,and damn near broke us,as she was adamant there would be no student loans.As itsybitsy rightly says,it has to be re- paid.No point in getting the training or education,to simply languish in a job that pays just under the limit for repayment!

But it is hard when income still has to be brought in,and I totally understand a person's reluctance to re - skill if it means hardship initially.
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nickdutch
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Re: Prepping for the next finacial crash?

Post by nickdutch »

I heard the IMF said that 2020 will be a bit tricky, so I am planning on having no outstanding credit before then.
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Seminole
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Re: Prepping for the next finacial crash?

Post by Seminole »

If it's going to go tits up in 2020 and you are brassic, wouldnt it actually be better to get loads of credit now?
Depends on what a bit Tricky actually means I suppose.

Disclaimer: I have never used Credit, I probably don't even have a credit rating
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Seminole
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Re: Prepping for the next finacial crash?

Post by Seminole »

itsybitsy wrote:
metatron wrote: Mature students are also unlikely to ever pay back student loans.
Not necessarily true. I went to Uni as a mature student and I am most certainly paying my loans back!
So you got a well payed Job out of out of your endevours, nicely done, could you tell us what course and what job resulted?
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xplosiv1
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Re: Prepping for the next finacial crash?

Post by xplosiv1 »

metatron wrote:.

Mature students are also unlikely to ever pay back student loans.
that's really not true, I think mature students are more likely to attain jobs and pay their debts first rather than spend it down the pub.

I've been through it, I was an industrial electrician .... a good job by any measure but I didnt fancy ending up like a lot of the older guys working with me at the time (bad backs, bad legs, generally in a constant bad mood, working away from home for months on end, working outside in all kinds of bad weather) so I saved up and took a small loan to cover what my savings couldn't and went to Uni full time to get myself some letters after my name ...... paid my loans off within the first year back to work even though I had to take a pay cut from what I was previously paid an electrician for a few years but now 15 years later I'm a senior engineering consultant.

My missus did the same a few years back.
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itsybitsy
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Re: Prepping for the next finacial crash?

Post by itsybitsy »

Seminole wrote:
itsybitsy wrote:
metatron wrote: Mature students are also unlikely to ever pay back student loans.
Not necessarily true. I went to Uni as a mature student and I am most certainly paying my loans back!
So you got a well payed Job out of out of your endevours, nicely done, could you tell us what course and what job resulted?
I did a BA Hons Administrative Management degree after I completed a Higher National Diploma.
grenfell
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Re: Prepping for the next finacial crash?

Post by grenfell »

Just a quick straw poll about money or rather about how much money people think is prudent to keep at hand.
Now we know preppers will keep anything from a month to a year's worth of food and water , some will keep a year's worth of logs for the fire or a substantial quantity of fuel , six months worth of bog roll , and of course some keep precious metals but how much ready to spend cash do people think is prudent to keep?
We currently have the ongoing problem with TSB which while it doesn't affect me directly does make me think how a simple IT problem could cause serious difficulties getting at one's own money. Granted having those food preps would insulate us to a degree so we should be able to survive on a lot less but if we take a ball park figure of say £50 a week spent ( based on that being a tad less than the dole , I was first going to say £100 although in reality the actual figure is arbitary) should we keep ten weeks , £500 or £2600 for the year or should we double that to allow for black marketing and rapid inflation ?
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Brambles
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Re: Prepping for the next finacial crash?

Post by Brambles »

I think it's prudent to have enough cash in the house to pay all bills and rent/mortgage for 3 months. The TSB thing has certainly highlighted how bad things can quickly get. But it's not just cyber problems, you could get an unexpected repair bill or lose your job or not get paid on time need to travel somewhere for an emergency, the possibilities are endless and having a cash stash is reassuring.
Life isn't about waiting for the storm to pass, it's about learning to dance in the rain~anon
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ukpreppergrrl
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Re: Prepping for the next finacial crash?

Post by ukpreppergrrl »

I have enough for a couple of months of bills or a couple of nights in a hotel - whichever is higher! And I stock it in smaller denominations rather than several £50 notes. Which reminds me...as it gets used as "emergency" petty cash I need to stock it up again as it's now way below the required amount... :shock:
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