I've just been listening to a Radio 4 phone-in about the luxuries we can't give up, even with the rising cost of living. Callers cited things like the gym, expensive perfumes/ soaps, nice cars, designer clothing and a daily copy of The Times. When asked by the interviewer, none of the callers appeared to have any problem with affording these things although some said they were swopping their supermarket shopping to Aldi to cut back on spending! A finance expert on the programme said that Covid restrictions and lockdown resulted in many households having a stash of spare cash and people are now spending that on holidays, clothing, home improvements and such like. Now we have another shocking announcement about the expected energy costs over winter and I'm wondering how many of those households are putting away that spare cash to cover these terrifying bills. The concept of saving for emergencies (for those who can afford it) seems to have all but disappeared in the under 50s, probably not helped by low savings interest rates for many years. Do people now just rely their credit card - or the State - to help them? I have just a basic state pension for my income but as I have saved all my life, even when I was a single parent, my modest savings now disqualify me from any additional benefits, and so I will need to use them to meet my energy costs this coming winter. I'm 70 and beginning to think that the savings habit I grew up with is just not worth it any more. Have others chosen to spend rather than save?
Have any of you got all electric cars? Pros and cons please.
Army horses loose on London streets
Angela Rayner lashes out and calls Sunak “pint sized loser”.