Of course not, I earn an average wage. Housing costs are extravagant, living costs arent cheap and i have a young child to provide for as well.
Lucky if I have a few hundred quid leftover.
Several_Cold_7160 on
I fall back into that camp following renovations etc
parkchanwookiee on
It’s a weird claim/headline because it presumes that we would need the £850 in leftover cash from our paycheque, but I find it hard to believe the majority don’t have access to a credit card? It might be a pain in the arse to pay it off with interest but surely £850 is doable. It’s not £10,000 or something that exceed the credit limit extended to most people
Anyway I agree life is unaffordable but this just seems contrived
Fish_Fingers2401 on
Those irresponsible adults, needing to eat and get to places.
bulldog_blues on
It’s very difficult to manage on a single income these days unless said income is well above the median, and it’s probably still a struggle even then if you’re a single parent.
lordnacho666 on
There’s a huge number of people who are hand to mouth. Even relatively well off people can be saving zero, eg when your kids are small.
RedLion_40k on
I mean, no one wants a £850 unexpected bill but this article doesn’t quantify what “could not cope” means. I imagine it’s just that most would have to cut back on something or dip into overdraft or credit card to pay but it’s not like it’s going to cause the majority to suffer financial ruin.
People are routinely hit with larger vet bills, boiler breakdowns and other fees that can dwarf this so I’m not sure what this article is trying to say
ValenciaHadley on
I’m on disabilty benefits and there is almost zero way to afford big unexpected bills. I got a large dentist bill back in February and luckily my dentist lets me pay off a bit every month but that bit every month is mostly from my grocery budget.
callsignhotdog on
>Researchers blamed the high cost on rising rent prices and costly subscription services. When rent or mortgage payments were added, monthly spending for single adults rose to an average of around £1,100 per person.
>Extra costs like broadband, mobile phone bills, insurance and subscriptions, brought this up to £1,200 a month on average, without spending on socialising, holidays or hobbies.
£1100 rent, £100 on subscriptions, but yeah expensive subscriptions are driving the problem.
Lo_jak on
The system working as intended then….. this would indicate that a majority of people spend their wage on surviving until their next payday. Everything is so expensive now its actually depressing.
Deadliftdeadlife on
> Aviva recommended that Brits aim for a realistic and accessible savings safety net to help cover unexpected costs, before focusing on longer-term savings goals.
Good advice if you can do it. For some it might take a long time to build that up though
Especially when the recommended safety net is 3 months of outgoings
bass_clown on
What would that £850 bill be for?
As a renter who doesn’t drive in London, this would be baffling high. A broken appliance would be covered by my deposit in a worst case.
I have a credit card that would allow me to finance a major purchase/liability.
Maybe that’s the difference? As I’m relatively debtless, perhaps that makes me one of the lucky ones.
DTFDownToFrolick on
Mate I can’t afford an unexpected £50 bill. Every month I tell myself, I’ve worked more this month so I’ll be better off next month. Then something comes out of the sidelines and bends me over the financial barrel and there goes my extra money.
I am bored of struggling I must say.
limeflavoured on
This doesn’t surprise me. I personally could, easily (either from savings if I have a few days notice or with a credit card if not), but I earn enough to be able to save a bit and have pretty cheap bills.
Ok_Anything3303 on
I couldn’t cope with an unexpected £8.50 bill, what dream world would £850 ever be okay?
peakedtooearly on
Design a system to make people’s lives precarious. Ends up making people’s lives precarious.
Who knew?
bix_box on
Why don’t articles like this have to link out to the research they are quoting? That should be the bare minimum.
pinkwar on
Stop all subscriptions for a year. I know it sucks but if you need to build a pot you got to do what you got to do.
18 commenti
Of course not, I earn an average wage. Housing costs are extravagant, living costs arent cheap and i have a young child to provide for as well.
Lucky if I have a few hundred quid leftover.
I fall back into that camp following renovations etc
It’s a weird claim/headline because it presumes that we would need the £850 in leftover cash from our paycheque, but I find it hard to believe the majority don’t have access to a credit card? It might be a pain in the arse to pay it off with interest but surely £850 is doable. It’s not £10,000 or something that exceed the credit limit extended to most people
Anyway I agree life is unaffordable but this just seems contrived
Those irresponsible adults, needing to eat and get to places.
It’s very difficult to manage on a single income these days unless said income is well above the median, and it’s probably still a struggle even then if you’re a single parent.
There’s a huge number of people who are hand to mouth. Even relatively well off people can be saving zero, eg when your kids are small.
I mean, no one wants a £850 unexpected bill but this article doesn’t quantify what “could not cope” means. I imagine it’s just that most would have to cut back on something or dip into overdraft or credit card to pay but it’s not like it’s going to cause the majority to suffer financial ruin.
People are routinely hit with larger vet bills, boiler breakdowns and other fees that can dwarf this so I’m not sure what this article is trying to say
I’m on disabilty benefits and there is almost zero way to afford big unexpected bills. I got a large dentist bill back in February and luckily my dentist lets me pay off a bit every month but that bit every month is mostly from my grocery budget.
>Researchers blamed the high cost on rising rent prices and costly subscription services. When rent or mortgage payments were added, monthly spending for single adults rose to an average of around £1,100 per person.
>Extra costs like broadband, mobile phone bills, insurance and subscriptions, brought this up to £1,200 a month on average, without spending on socialising, holidays or hobbies.
£1100 rent, £100 on subscriptions, but yeah expensive subscriptions are driving the problem.
The system working as intended then….. this would indicate that a majority of people spend their wage on surviving until their next payday. Everything is so expensive now its actually depressing.
> Aviva recommended that Brits aim for a realistic and accessible savings safety net to help cover unexpected costs, before focusing on longer-term savings goals.
Good advice if you can do it. For some it might take a long time to build that up though
Especially when the recommended safety net is 3 months of outgoings
What would that £850 bill be for?
As a renter who doesn’t drive in London, this would be baffling high. A broken appliance would be covered by my deposit in a worst case.
I have a credit card that would allow me to finance a major purchase/liability.
Maybe that’s the difference? As I’m relatively debtless, perhaps that makes me one of the lucky ones.
Mate I can’t afford an unexpected £50 bill. Every month I tell myself, I’ve worked more this month so I’ll be better off next month. Then something comes out of the sidelines and bends me over the financial barrel and there goes my extra money.
I am bored of struggling I must say.
This doesn’t surprise me. I personally could, easily (either from savings if I have a few days notice or with a credit card if not), but I earn enough to be able to save a bit and have pretty cheap bills.
I couldn’t cope with an unexpected £8.50 bill, what dream world would £850 ever be okay?
Design a system to make people’s lives precarious. Ends up making people’s lives precarious.
Who knew?
Why don’t articles like this have to link out to the research they are quoting? That should be the bare minimum.
Stop all subscriptions for a year. I know it sucks but if you need to build a pot you got to do what you got to do.