Household saving is down

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grenfell
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Re: Household saving is down

Post by grenfell » Tue Aug 01, 2017 10:46 am

Plymtom wrote:. If I could get rid of anything that doesn't actually serve a purpose around here, there'd be much more room.
I think my missus has looked at me and said just the same thing :(

jansman
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Re: Household saving is down

Post by jansman » Tue Aug 01, 2017 4:01 pm

Plymtom wrote:I think we've said before that food preps can effectively give a better return than sticking money in the bank, although they could be hard to judge with Brexit and all, thing is yeah a bit of cash is handy but I like useful stuff myself. If I could get rid of anything that doesn't actually serve a purpose around here, there'd be much more room.
I think if we are discussing saving, then you have a point about food storage Plymtom. Next year's eating at this year's prices. Sound investment I reckon.
In three words I can sum up everything I have learned about life: It goes on.

Robert Frost.

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Plymtom
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Re: Household saving is down

Post by Plymtom » Tue Aug 01, 2017 5:40 pm

jansman wrote:
Plymtom wrote:I think we've said before that food preps can effectively give a better return than sticking money in the bank, although they could be hard to judge with Brexit and all, thing is yeah a bit of cash is handy but I like useful stuff myself. If I could get rid of anything that doesn't actually serve a purpose around here, there'd be much more room.
I think if we are discussing saving, then you have a point about food storage Plymtom. Next year's eating at this year's prices. Sound investment I reckon.
I am indeed in the current climate, cash indeed money of all sorts has the potential of lowering in worth like never before in my lifetime.
I have a strategy, it's not written in stone, nor can it be, this scenario has too many variables, everything about it depends on those variables, being specific is not possible.

jansman
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Re: Household saving is down

Post by jansman » Tue Aug 01, 2017 8:22 pm

Agreed Plymtom.My own personal view,especially a decade on from the last 'crash'is that the debt to earnings ratio is totally skewed,again.in 2008 when the world economy went to hell,folks raced to get out of debt.

Instead of sacking folks,firms cut hours and pay.It never really went back tbh.The result in this decade was the rise of the zero hours contract and minimum wage being the benchmark for pay levels.

It would appear ( to me) that we have another ' crunch' coming.Debt driven of course.Heaven only knows what model businesses will operate on IF that occurs.
In three words I can sum up everything I have learned about life: It goes on.

Robert Frost.

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korolev
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Re: Household saving is down

Post by korolev » Wed Aug 02, 2017 7:38 am

I've been very fortunate in that I've worked for the same large company for 30+ years and ridden the recessions (even during the 2008 bank crash we made money and got a pay rise due to a strong union). All that time I've had a pension going and in the last couple of years I've starting putting Additional Voluntary Contributions in to it. AVCs are a great way of saving as it comes out of pre-tax salary so for every £100 I put in, my take-home pay is only £60 down (because I pay 40% tax). The downside is that the money is locked-in until I take my pension which in my case is somewhere between 3-5 years from now.
It's worth researching if you are in a company pension scheme (I'd never heard of it until I went on a pension seminar at work).

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diamond lil
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Re: Household saving is down

Post by diamond lil » Wed Aug 02, 2017 7:35 pm

I'm another one thinking we're on the cusp of something big again, I'm stocking up on food and toiletries.

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Brambles
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Re: Household saving is down

Post by Brambles » Wed Aug 02, 2017 8:10 pm

diamond lil wrote:I'm another one thinking we're on the cusp of something big again, I'm stocking up on food and toiletries.
I've just topped off our toiletries and laundry supplies, we're back up to a years' worth. I just need to top up bleach and washing up liquid. And I think you're right, but I don't have a clue why or what!
Life isn't about waiting for the storm to pass, it's about learning to dance in the rain~anon

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Le Mouse
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Re: Household saving is down

Post by Le Mouse » Wed Aug 02, 2017 9:42 pm

Brambles wrote:
diamond lil wrote:I'm another one thinking we're on the cusp of something big again, I'm stocking up on food and toiletries.
I've just topped off our toiletries and laundry supplies, we're back up to a years' worth. I just need to top up bleach and washing up liquid. And I think you're right, but I don't have a clue why or what!
I agree that something nasty is round the corner. My feeling is that it's down to the levels of personal debt that a lot of people are in - a combination of things like car finance as grenfell said earlier, plus 0% credit cards being endemic, with people racking up debt that they will never be able to pay off. I even think the article that grenfell posted described car finance as the UK sub-prime scandal. Case in point: as I've mentioned on another thread I plan on learning to drive and I was talking about this at work yesterday, asking for opinions on where I should get a car if/when I pass. Everyone in the room with a car said they got their car on finance. They all genuinely think it's the only way to afford a car. I was really shocked, while they think it's logical. Pay a bit of money every month until you either pay the balance off or swap it for a new one and start the merry-go-round all over again. It's the contract mobile phone payment model, with a few extra zeros on the price!

Anyway, I'm off work next week and I think some time will be spend tidying up the stores and squirrelling away a bit more like Brambles and Lil to set my own mind at rest.

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Deeps
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Re: Household saving is down

Post by Deeps » Thu Aug 03, 2017 1:18 am

diamond lil wrote:I'm another one thinking we're on the cusp of something big again, I'm stocking up on food and toiletries.
In all honesty its probably because we're a wee bit nuts but the law of probabilities suggests we'll be right sooner or later. :lol:

I've noticed a few gaps in our preps that need addressing and I'm looking at builiding them up. Tooth paste for one, somehow I've only got a couple of spares in the stores, not sure how we've got so low but there you go. From a purely selfish point of view we can handle another 'sub prime' but I get that its not what we want. Hopefully its just us doom and gloomers being a bit jumpy and we roll along. I've never got the leasing a car thing, I can understand taking a loan out to get one and having a tangible asset there but I guess it comes down to 'extending' and leasing a car that you maybe couldn't afford to buy, car envy really ain't my bag as a non driver but I do understand it, my 'chauffeur' suffers from it sometimes. Ultimately whatever it it though someone will have a bigger/smaller/faster version of whatever it is that you pride, as long as you're happy with your lot, you'll be more content than those that aren't and want to 'keep up.

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pseudonym
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Re: Household saving is down

Post by pseudonym » Thu Aug 03, 2017 3:12 am

I also blame it on the "loan adds."

They are all sunshine and rollerskates with the APR in small print....

What they should have to show is the total cost. i.e borrow £500 for a year you owe us £1200.
The roads are pretty bad and if you do end up getting stuck its hard to justify your reason for being on the roads as 'vegan mince for a feckin' princess'.

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