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AIBU?

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Original poster

To think it’s normal to live paycheck to paycheck?

58 replies

Colacubegirl · 20/02/2025 14:11

I work part time and have young DC. I just really struggle to save, as soon as I put £100 away I end up needing to spend it the next month.

I have so much pressure on myself to save some money for the future, I really want to, but really struggling with cost of living and this year is so busy. 4 weddings! Lots of milestone birthdays etc. Christmas has just been and gone.

Do you live month to month?

OP posts:
Loveduppenguin · 20/02/2025 14:59

But I hear you @Colacubegirl after all my bills and budgeting (and saving) I should have 243 left to literally play with and/or save. I was delighted this morning because I have 228 in my bank account and I get paid on Monday. I thought great I can do a few nice things with the dc this weekend, turned on the heating an hour ago and the oil is gone…so I’ll need 300 for that 😩🙄

flipent · 20/02/2025 14:56

I was, for a long time. I thought I was budgeting as well as I could, but never seemed to be getting anywhere and there were always surprises.

I started using YNAB about a year ago, and for me it has helped massively.
Lots of people can do the same theory without the online tool, but it worked for me and I've managed to build up a cushion that I never could before.

Zusammengebrochen · 20/02/2025 14:50

There's no normal on MN, when it comes to income, because the incomes vary so much. If you've not got much coming in relation to living costs then, yes, it's reasonable to be counting the pennies towards next pay day though.

JohnofWessex · 20/02/2025 14:47

Yes

I suggest that there are some harsh comments on here

We all need to make sure we have a sufficient 'cushion' for one off expenses eg to be able to replace washing machine/cooker/car and there are expenses that come up annually eg car tax & insurance MoT etc so yes benefits need to include an element for 'saving'

Have you looked at the Help To Save account?

https://www.gov.uk/get-help-savings-low-income/how-to-apply

It's not as flexible as you might like or the Ecology Building Society Regular Savings Account

www.ecology.co.uk/savings/savings-accounts/regular-savings/?_gl=1m6oevr_upMQ.._gs*MQ..&gclid=Cj0KCQiAwtu9BhC8ARIsAI9JHamFuamucZCYFIsibQ1-So1W4FiWiFrzC6_n3jcQNGwUZHg4-i3EvuIaAlMlEALw_wcB

Loveduppenguin · 20/02/2025 14:30

I think a lot of people do yes but as others have said it really depends on your priorities a lot of the time. But for some it’s not the case I suppose

BettyBardMacDonald · 20/02/2025 14:26

Colacubegirl · 20/02/2025 14:11

I work part time and have young DC. I just really struggle to save, as soon as I put £100 away I end up needing to spend it the next month.

I have so much pressure on myself to save some money for the future, I really want to, but really struggling with cost of living and this year is so busy. 4 weddings! Lots of milestone birthdays etc. Christmas has just been and gone.

Do you live month to month?

Weddings, birthdays and Christmas aren't as important as adequate cash savings and pensions. They aren't "needs."

That's how people end up constantly on the edge.

TameSacha · 20/02/2025 14:24

You’re on benefits, right?

Those benefits are supposed to be to cover yours and your children’s essential costs. Not building up savings and people’s wedding gifts and the like. If you’re covering your family’s costs, you’re doing just fine for now. Don’t beat yourself up over it.

When your children are older you can increase your hours, build your career and start saving.

TameSacha · 20/02/2025 14:14

If you’re a part-time worker with young kids (and a single parent?) then yes I’d say it’s completely normal.