So how do you (and your family) intend to ‘hold you nerve’?

I saw Sunak telling everyone to hold their nerve. How dare he.
The economy etc will recover but in the meantime there are millions of people affected by the increased mortage payments and utilities and the cost of food. It will take a number of years before people fully recover from this. It's definitely not a case of hold your nerve.

Just listening to the discussion on food inflation. And, all I keep thinking is that, as far as the government is concerned everything ( not just food prices) is the fault of everybody else. Never anything to do with their policies* ( or, heaven forbid, the elephant in the room, brexit).So, what is the point of having them? What do they actually do?
*or lack of them….

winterwhite

What does 'hold your nerve' even mean in this context?

I think it means 'Just die quietly'

My son is on a fixed till March. Hopefully things might of settled a bit by then 🤷‍♀️

I haven't got a mortgage as I could afford to buy my flat outright when I downsized. My ACs are on fixed mortgages so fine for now.
Think it's very patronising of Sunak to tell people who are struggling to hold their nerve.

What does 'hold your nerve' even mean in this context?

Not suffering from any mortgage increase my DH is a mortgage broker and fixed ours last year he suspected they would rise back in Feb of last year and we have made overpayments to reduce the mortgage to a car loan.
He had planned to retire this year and has now had enough of it having been a Financial advisor or a Mortgage Broker for the last 40 years.
Just our luck everything is going tits up with interest rates and inflation but we will survive we always have.
If we run short we will get other jobs as neither of us are old enough for state pension just yet but probably more likely to be me as I am still physically fit.

My 72 year old husband is working from home…. in between hospital admissions! The aim is to help out with a house for one of our sons. The move from a flat to house is problematic.

I too suffered with mortgage costs in the early 70s I got an evening job too. My son and 2 GS have each just bought homes and are hoping (praying) that things settle a bit before their fixed rates deals end.

I remember so well our experience of this in 1971. Awful. Cut everything back to the bone but I was a SAHM and managed to find an evening job to ease the situation. Yep...pretty grim and I will never forget it. Interestingly, I went back to my prestigious line of work in a law office until I discovered that working for the same hours in a sweet factory paid twice the salary. No contest and a memorable time indeed.

The mortgage rates are going up in a lot of countries. Certainly they are here in Australia, a lot and we have a Labour government. They have gone up a lot more under them than they did under the previous government. They can’t handle money well, unfortunately. All mouth and no action. You will see.