Whatever happened to "saving for a rainy day"?

I agree with your point, nipsmum, that no-one knows other people's circumstances. This being the case, no-one should judge anyone if they haven't been able to save. Living just within your income with nothing left to spare is the experience of many people in all age groups, not just the young.

Farzanah

Good post Dickens and HousePlantQueen.
I find some of the posts on here quite smug. How many people through no fault of their own have found themselves unable to save. It’s not a moral failing.
It would only take an unforeseen disaster for any of us to be living in a precarious situation, savings or not. I’d rather live in a compassionate non judgemental society than an obsessively acquisitive one.

How many people through no fault of their own have found themselves unable to save. It’s not a moral failing.

I am financially 'comfortable' and mortgage free. I have worked hard, during one period, very hard. But - there is one thing that I will always readily admit to - along with the hard work, there was luck. I didn't achieve that luck, I just got the breaks. They didn't come until much later in life, but I got them, and without this luck, I would most definitely not be in the position I am now. Fortune could have so easily gone the other way, as it does for a lot of people. Events over which they have little or no control will force some into a cycle of impoverishment. So I will never judge nor condemn anyone for their poverty, or their inability to save, or indeed their willingness to save.

We all know that there are those who are, for want of a better word, work-shy, or who 'game the system', but a little bit of research will indicate that they are not the majority.

And there are others who work and - just spend what they earn. As others have pointed out, if a mortgage is out of reach - why would you not? Do we live to work, or work to live?

Another thing. My 'success' in the workplace was based on the fact that I, and my then single-parent, divorced mother were in receipt of "handouts". My mother, training to be a nurse, was eligible (1950s) for a grant which enabled her to send me to an independent boarding-school. She trained and worked on the job - a thing of the past. Putting the name of the school on my CV stood me in good stead when I left it. And when I left, I had the opportunity for further education and day release from the civil service - all publicly funded. I was given Luncheon Vouchers (another handout) as a young working teenager. Protected tenancies was also another benefit some of us were able to enjoy. Along with others of my generation, I climbed the ladder to moderate success - one many of my generation were happy to pull up behind them and deny others the same opportunities.

We didn't have the technology we have now when I was young. But, we did have coffee bars, we also had transistor radios, records, dance halls and clubs, clothes and shoes. And I wanted all of these things that were available in the same way that young people now want smart 'phones, nice nails, coffee-to-go... and even the infamous avocado-on-toast. What's the difference?

The more you save the more they take off you when you need help, I've seen it with my parents. If you have nothing you get a lot of extra benefits. My parents saved diligently thinking they'd have a nest egg for their children but have spent most of it on care and living, and so far a third of the value of their home on nursing home care for my Dad who had dementia. I don't begrudge it at all, I tell my mother to spend her money now when she's alive, not to be stressing about us. It is sad though to see, they were ordinary working class folk who were sensible, it didn't pay off for them. My.dad was in a nursing home, others there got it for free, he didn't.

I'm afraid a lot of these posts smack of people complaining that others are getting something over on them.

The country I grew up in took care of its inhabitants, and wouldn't begrudge looking after others in their old age. I'm sorry if people feel hard done by that they see others whom they believe to be the "undeserving poor", but what exactly is your solution? Stop people going on holiday unless they have half a million in the bank? Close coffee shops to people who don't appear sufficiently affluent? Ask for proof of assets before you can buy a bottle of wine?

Should the putative people in care homes who don't have any savings be refused care? Should they be told "Sorry you don't have any money, out into the gutter with you?"

Some peoples days are more rainy than others.
There is room for all to be supported with care in older age.

If not, then look further than the next person, and put the blame where it belongs.

Blane

The more you save the more they take off you when you need help, I've seen it with my parents. If you have nothing you get a lot of extra benefits. My parents saved diligently thinking they'd have a nest egg for their children but have spent most of it on care and living, and so far a third of the value of their home on nursing home care for my Dad who had dementia. I don't begrudge it at all, I tell my mother to spend her money now when she's alive, not to be stressing about us. It is sad though to see, they were ordinary working class folk who were sensible, it didn't pay off for them. My.dad was in a nursing home, others there got it for free, he didn't.

To be accurate, it did pay off for them because they have had some choice over their care home. Their children are the ones who will lose out, after their parents die.

I've worked bl**dy hard all my life, had a mortgage as a single person when I was 30 and worked full-time when my children were babies. Unfortunately, I wasn't one of life's lucky winners and I now live in rented accommodation. I have a few thousand in savings - just about enough to pay for my funeral, I would think.

PS. Maybe I've been lucky now and have met a partner and we intend to live together. There's a possibility I'll be able to save, but I'm not going to be smug about it.

Phew!
That's a relief!

I'm happy to shop in Asda and don't care what colour the label is. Yellow is my favourite colour.

Tea is a better option than coffee and it's cheaper.

betts

There is an old fashioned concept called 'living within ones means' that is no longer considered important.

I completely disagree.

Why so hostile to the young?

Millie22

I'm happy to shop in Asda and don't care what colour the label is. Yellow is my favourite colour.

Tea is a better option than coffee and it's cheaper.

Have you tried the yellow sticker strawberries?

They are absolutely delicious, the best I have had for years.

I don't know if it was just pot luck, but every single one was sweet, no soggy or sour bits.

What are special about yellow labels?
I don't shop at Asda because we don't have one near and the last time I went in one it was huge and terrifying! There were no checkout operators but staff were having to stand beside each self-service till to help customers who got into a muddle putting their groceries through and trying to pack at the same time.
The staff thought they might lose their jobs.

I think that families with disabled children are often overlooked in these kinds of conversations. My granddaughter is quite severely physically disabled and needs 24 hour supervision although at first glance she is a normal teenager. To support her to enjoy life in a half reasonable way they need to pay for her to go places and do things plus the rest of the family - eg mum and dad plus sister. The free things which so many young families do - play parks, walk in the woods, day in the beach etc are not accessible for her so other, usually more expensive activities have to be found and usually paid for. Being the full time care and parent of a disabled young person puts a huge strain on the family both physically and emotionally. Should her DLA be means teated? No of course it shouldn’t. Our society should be there to support families with these kind of needs.

I use asda online, so have no idea about the shops themselves.

I think the yellow label denotes their basics brand.
To be honest, I click away without knowing a lot about it. Can't see properly.

May be everyday essentials?

Thanks, MissAdventure

I'll try anything but it has to be Yorkshire tea!
Although someone gave me a pack of another brand recently and I didn't say no.

The practical reason people often don’t save any longer for a ‘rainy day’ is the availability of credit, quite a lot free credit over a number years. When we bought our new sofas about five years ago we were offered free credit over four years. We could have paid outright for the sofas, but my husband said why not leave the money in our bank (despite the rubbishy rate of interest, there was at least some interest) and we’ll pay month by month. So we did. It seems to me to be the overriding reason why people no longer save; free or low interest credit. Plus intimes of inflation, the price of the goods often rises quicker than a person could save up. So buy it now at a good price and pay it off gradually, usually with free credit.
However the bank rates went up last week, so will that rise effect people’s decisions, particularly in view of the increasing price of other goods?

I agree absolutely, GreyKnitter. There is no reason whatsoever why DLA should be means tested in a civilised society.

I like yorkshire tea, gold blend coffee.
I also like ariel washing powder, but that is negotiable.
I just know a yellow label is a bargain, click, and hope for the best.
I asked an ex if he had any bread a while back.
He had 52 cans of cream soda and 7 big tubs of lurpack!

By the way, we drink Tetley tea

I’m with you on the coffee MissA, gold blend Nescafé for me. My husband likes the real stuff, proper ground coffee, but not me. Gold blend every time.

I did retrain myself onto aldi gold coffee.
It took quite a while, but was less than half price of gold blend.

Then we no longer went to aldi, so all that training was wasted!

Same for me, maddy.
I far prefer a gold blend than real coffee.
I do sometimes change, if another is in offer, and I like it for a while, but I soon yearn for my gold blend again.

MissA what a pity we can’t meet up for a cup of gold blend

Well, never say never.
I may get some mobility back, and a bus pass, but I suppose there are limits.
I really enjoy a cup of strong tea, too. (With a scone!)

What a coincidence, my husband makes wonderful scones. I make the cakes, but he does the scones, they are the best.