To be shocked when adults have absolutely no savings at all?

Ha! Have a sit down then now before I tell you that not only do I not have any savings, I also gave to live in my overdraft all the time

I’m shocked when people who could have savings don’t have them, but I’m not shocked that some people don’t have savings because they need all their money to afford the basics. That must be hard and I would feel constantly anxious in that situation.

@Sharingisrarelycaring yes you might be right. I think we have both always tended to be like your sister. I suppose for about half of our lives we could have saved if we’d wanted to rather than enjoy ourselves, but the other half we didn’t have any spare money that we could have put away. Our credit cards were our friends during both periods 🤣

What is it that you don't understand about poverty, OP?

@Growlybear83 I think there’s an aspect of personality type that comes into play as well.

For example, my sister would have uni assignments due and do nothing until the night before, then she would pull an all nighter. I, on the other hand, would have my assignment completed a week early as I would be in a state of such stress and anxiety that I’d be useless the night before a due date.

Your example of living in overdraft/loans/credit cards is not something that I would feel comfortable with. The level of stress that it would add to my day to day life would far outweigh any joy I had in memories of good trips etc.

Perhaps those who are more risk averse prioritise savings and those that cope better with stress/pressure don’t feel the need to have the safety net and instead prioritise travel/pets/concerts/designer items? (Obvious disclaimer that this only applies to those who are in a position to save)

@OonaStubbsi don’t understand why you can’t see that not all people think the same as you. We decided many years ago that we wanted to enjoy our lives when we were able to do so. When we didn’t have a mortgage at a ridiculously high interest rate, we spent a lot of money on travelling and buying things that we wanted, much of it funded by credit cards. Once we had a child and I stopped working, we stopped spending. We never had any savings at all, but we enjoyed doing what we wanted in our 20s and early 30s. We then couldn’t afford to save anyway. We always had reasonable salaries but certainly weren’t high earners. If we needed a new washing machine or repairs to the house, we used credit cards, loans or overdrafts. My mum used to scrimp and save and I always thought she was foolish to not enjoy the money she had when she was able to, rather than having money sitting in the bank for the rainy day that never came.

What I don't understand is people who pay for extravagant things like holidays, new cars, designer clothes, while not having savings. Surely savings come first, and once you have a safety net, you can then think about some luxuries?

I am quite well off at the moment. My mortgage is paid and I have healthy instant savings, stocks and shares and ISas etc
However 15 years ago we were in an absolutely bleak situation with Dhs business failing through no fault of his, long story.

We were doing everything to hold it together, to keep the mortgage payments and bills to keep paying the childminder so I could work.
It was soul destroying and dh was on his knees. Then the balifs came. We managed to come to an agreement.
It would have been bloody awesome if I just had some savings to pull out of my arse at that point.
Unfortunately the savings had gone trying g to pay the mortgage.
That is why as an adult I didn't have any savings at that point in my life.

Made me feel so sad reading this. I wish I'd known you back then (and to have known some of you who have also indicated such dire straits). Sickens me that situations like this exist in the UK these days.

I don't have large savings and my salary is modest, after bouts of unemployment. OP, I get the saving mindset - my family were always savers and we were always encouraged to do the same, but a lot of it's luck. Life can be shitty and you just don't know what will be thrown at you next.

It amounts to the same thing. I had money saved up until before xmas & now I have none (unexpected household emergency). Exactly as if I had never had it in the first place.

For years I had nothing saved. A single mother living pay day to pay day, knee deep in debt. It wasn't a nice place to be, but it was life. I was lucky, I had a well paid job, but childcare was expensive with only my income to fund it.

I'm self employed now and in some respects more financially stable. I do appreciate now having a safety net, and I've had to fall back on it a few times since 2021. Just because I now have it doesn't mean I don't understand that others don't.

Try being a severely disabled, widowed parent and struggling to provide enough food every month as it is! I mention the fact that I’m a widow rather than simply a ‘single parent’ to explain that I (obviously) do not receive child support.
My disability suddenly became a lot more severe after becoming a widow and I can now no longer work. Thanks so very much for reminding me of what a loser of a mother I am.

£10k is more than I get in a year. I had to give up my job because of health problems and they've only become worse to the point I'm currently housebound. I get £824 a month in benefits.

Exactly, we have had more holidays than ever before as I can't keep the month in my bank because of UC rules. I am not able to save over £16,000 or my benefits stop. Over £6000 and I pay a fee. I need to be saving for the future but I can do I am spending it instead. Totally against my ethos.

I do think some people are just really bad with money. I have a friend who is currently behind on all the bills, her phone was cut off last week. She has two daughters who have left school and have part time jobs. Neither pay board, food or for their own phones. She also will put concert tickets and whatever else they ask for on her credit card. Including for a friend to attend with them. She earns good money, more than I do.

their credit cards are maxed out from putting holidays and weekends away on them and they prioritise eating out several times a week. But then she will forgo buying medication as they have run out of money.

its really awkward when she starts complaining about money and saying things like I don’t know what it’s like ect. that we are so rich. We earn less. We are just careful and don’t waste money and save.

If you claim UC, you get told on there that if you can save anything at all then you are getting too much money.
Can't bloody win.

The most I have had has been about £5k, and that was only because I sold a vehicle I could no longer use. I am lucky to not be overdrawn at the end of every month.

Shocked? Really?

I was shocked to read that you only have 10K saved when you're so judgey of others' savings... what do you think to that?

Meh some people are skint. They live payday to payday with nothing left to save.

If you can afford to save, then you're not skint.

You have an opinion that probably should be kept to yourself IRL. The universe has a way of punching you in the head and you may find yourself on your uppers with no grands saved up.

If this is genuine I'm shocked that you are so unaware of how many people live in the UK today. You really need to educate yourself about the society in which you live. if you can afford to save 10K presumably you can afford a newspaper or a television or to connect to the Internet to read about current affairs.

Sorry but you are obviously rich and this post comes across arrogant and tone deaf.

It's been a while since a thread made me roll my eyes and whisper "aw go fuck yourself OP" but here I am....

I have nothing at the moment! Left my job last year due to my mental health. I’m happy to just be alive. I don’t think you can judge these days everyone is kind of going through something.

.. Some people can't afford food.

Probably anything other than gruel or maybe bread and water.

I'm shocked that some people can be so wrapped up in their own little bubble that they have no idea about the lives of others and the struggles they may face.