Married two kids half the house is mine half is the banks!! Our biggest worry is we spend 200 every month over our income v outgoings figure! We thankfully have savings but they are slowly and surely being eaten away!! I accredit it all to the cost of living just going up and up!!!
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how financially stable / screwed are you?
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Posted 5 months ago #
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Posted 5 months ago # -
Remaining Mortgage of say £75k against a property value of £300k. No other debt. High salary. Shed loads in the bank. Very little job security but I would receive a very generous pay off owing to the length of my notice period and length of service. No dependents.
So in theory on paper I am financially secure, but do I feel financially secure then no I do not.
Posted 5 months ago # -
39, just separated / dumped
2 children
paying £700 mortgage
renting a £650 a month 2 bed terrace
£320 a month for my children
£3000 on credit cards
£7000 loan with 36 mth to run.
£6000 on a new catering trailer delivered in the next 28 days.
CSA want more money.
And just when you thought it couldn't get any worse, Trafford council have put double yellow lines on my pitch, but taken my money to trade there.
So now entering a legal battle with the licensing officer/ department.
But my best mates dad has just been diagnosed with spinal cancer, and Christie's have told him there is nothing they can do.
1 of my other mates has just lost their first child to cot death.
My brother in laws Brother, has just committed suicide at the age of 24.
so in some respect im glad my problems are only financial,
Because in the last 14 days ive experienced every human emotion possible, and am just about at the end of my tether.
Todays happy go lucky post was brought to you in association with "Chin Up" productions
MB
Posted 5 months ago # -
Posted 5 months ago # -
Extremely stable for now, but on short term contracts so no guarantee I'll be working past February. TBH I've cut my fixed outgoings to the bone and I could keep myself going for a couple of years before I ran out of savings though. So let's say weak, but stable.
Posted 5 months ago # -
how do you all think you will be if interest rates return to a historical norm of 6% in a few years time and your fixed has run out?
Posted 5 months ago # -
Retired on company pension, buy-to-let income and interest on savings added together is close to national average wage, and good for East Mids.
52 and single, Mrs B lives separate life 125 miles away, mortgages paid and put my daughter through university. So done ok but I have probably always been a bit careful and saved a bit. Always balanced saving between risky and safe - some have worked and others not.
Posted 5 months ago # -
Absolutely fine. Currently pay 2k a month, of which £300/month is interest. If the interest doubled it'd annoy me but that's it.
Posted 5 months ago # -
Absolutely fine. Currently pay 2k a month, of which £300/month is interest. If the interest doubled it'd annoy me but that's it.
Posted 5 months ago # -
I own everything I really want, Madame's income exceeds our expenditure, there's money in the banks for many rainy years.
I've just asked Madame if she has everything she wants and she said she'd quite like a camper (we had (lived in) a T2 when we were poor). I guess that'll be whatever a foul polluting camper caosts less in the bank then.
Oh no!!! What have you lot started? Madame is now looking at campers on Le Bon Coin.
Posted 5 months ago # -
Looking to buy a little retirement bungalow and room for a camper van is on the check list. Already turned one down due to a low car port.
Posted 5 months ago # -
Just passed the 30 mark
income 300 a month as I took of for a year from work.
Own a shack with no electricity and one working tap(source fed) that I am doing up currently in France.
No debts
had about 100 k when my year off started(after purchase off house) not sure where I am now hope 2012 brings me electricty, heating and a bathroom. Probably end up with a house and a no or small debt then.
Working offshore and so related so virtually no expenses when I work.
Its all about what you spend excpet for my ten bikes some 50 quid others 3K and the occasional holiday I can't be arsed on any luxuries
Posted 5 months ago # -
Mr Smith, my fixed is at about 5.5% so it won't make too much difference
Me, my wife and 6 month old daughter in a 2 bed flat.
100k mortgage, about 80% LTV.
No debts but no real savings either.
Combined household income maybe £35-40k depending on what hours my wife does.We are currently saving 4-500 a month though so will aim to maintain that and cut the cloth accordingly. My wife and child fill me with joy so as long as we can pay the bills we are fine. If I lost my job we'd be in a bit of trouble, but we wouldn't go homeless or hungry. We can always move to Poland and live on cabbages
Posted 5 months ago # -
I'm pretty solid. Single 32.
Mortgage has about 45k left on it but the house is worth at least 120k.
Job for as long as I want it and not impossible to find another by any means earning ~50k.
Enough in the bank to pay the mortgage off (which I'm going to do very soon) and have about 10k left.
No other debts.
Plan to buy myself a camper van again shortly but with other vehicle sales I'll still have no mortgage and 5-8k in the bank.It's all in my long term plan not to work too much or too hard or too long.
Posted 5 months ago # -
how do you all think you will be if interest rates return to a historical norm of 6% in a few years time
Delighted.
Posted 5 months ago # -
[you also don't know how old everyone is. Mortgage paid off at 30 is impressive. Mortgage paid off at 60 is less so ]
Good point... I hadn't thought of the possible age range !! It's just that everyone on here SOUNDS[i] so young
Posted 5 months ago # -
Very!
Posted 5 months ago # -
no income stability (self-employed), no investments/savings/backup (thanks to divorce), but great opportunities in my line of work and I have decent experience/skills and a shit load of tenacity
things could be much much worse
Posted 5 months ago # -
28, Single, 1 dependant (While we're using financial speak
Have varying amounts of equity in 2 1/2 houses (2 are rented).
£5.5k student loan, but rightly or wrongly i dont consider this "real" debt.
Income is £30-34 depending on bonuses / rental yields.
Sneaked a final salary pension before it closed too, which is probably quite a feat for someone my age.Modest amount of savings (mainly to cover void rent periods / house maintenace)
Probably borked if rates rise loads, but I really cant see them rising to historical levels (4-6%) for some time.
I don't consider myself cash rich (granted Im probably asset rich compared to most 28 yr olds) as maintenace / student loan repayments take alot of my monthly income. Therefore I like to manage my finances carefully.
Posted 5 months ago # -
2 months of car loan to go then we own that.
Only other debt is the mortgage (£112k on a £300k house) but unfortunate circumstances mean I will be largely paying that off once the legal side is sorted out.
Then I plan on not having any more large debt again in my life (I *may* consider a modest house move in a couple of years time though).
Posted 5 months ago # -
I have at least £18k of student loan debt that I'll probably never pay off unless I somehow come into a lot of money. Other than that I'm fine, the student loan isn't really anything to worry about.
Posted 5 months ago # -
£220k left on mortgage, 15% equity.
No loans.
Pay credit card off every month.
No savings (spent on car)and currently not paying into a pension.
Currently saving for wedding.
I'm concerned about not having a rainy day fund but figured it was better to spend savings on the car than having them sit in a bank earning less than inflation interest.
My fiancée has quite a bit of credit of loan debt and credit card debt but is paying them off (slowly).If interest rates return to 6% It will be tough but I've done my sums and can afford it. Job security is more worrying.
Posted 5 months ago # -
When at college I racked up about £300 on a Visa card which sounds pathetic by today's standards, but was a student's upper limit in 1995. I watched in horror as it rose inexorably for a year before I could pay it off. I look back on that as a cheap lesson learned!
As such I'm very debt averse (aside from mortgage), but strangely not pro-savings? If my wife hadn't made me automatically funnel money off into pensions/savings it would never have occured to me.
PS; Job security (in the private sector at least) is an oxymoron, if you think you've got it you're deluding yourself.
Posted 5 months ago # -
MrSmith - Member
I wish it would happen a lot sooner. No debt and a drop of savings which I'd like to see retain its value.
how do you all think you will be if interest rates return to a historical norm of 6% in a few years timePosted 5 months ago #
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