Are you worried about money right now?

[NevillesLeftNadger]

Obviously there's a lot of financial worry about, with rising rents and mortgage costs and the price of food and fuel and other commodities shooting up. Personally I'm scared that our savings are depleting to nothing and that the kids will just need more food/more expensive stuff etc as they get bigger. We don't take holidays, or get take aways or have day trips and I'm already scared about next winter's fuel costs and whether we'll be able to replace our old car when it does.

On the other hand we have a home we won't lose and it's insulated and (currently!) in good repair so that's a lot less to worry about.

But equally there must be lots of people insulated from all of the financial stress judging by how busy cafes and restaurants and theme parks and holiday cottages etc still presumably are.

So I'm just being nosy and wondering whether most mumsnetters are in a financial fret or feeling like they'll sail through it all. Are you worried about money currently?

No, we have no money worries. I appreciate we are very lucky.

Yes, every day.

I'm not worried about money and I don't know anyone that is. Everyone around me is having holidays, renovating houses, going out to concerts and having meals. They aren't particularly high earners- teachers, shop workers, delivery drivers, social workers.

I'd say things are under control currently. I don't have loads of spare cash but I am managing to save for a holiday, which does feel like a luxury in the current climate. All the basics are covered. That being said, you won't see me out in cafes, restaurants etc as they all feel very over priced at the moment. It doesn't feel worth it to me.

Not hugely worried, as due to job changes our household income has increased fairly significantly this year. However that increase was supposed to fund upsizing into a house better suited to the needs of our disabled child, but instead will just be needed to keep afloat now. We can pay our bills though so we’re in a better situation than many, for which I am grateful.

Yes and no, we have always worried about money even when we don’t really have to.

We aren’t on the breadline but we are careful with our money and plan for everything.

So at the moment we aren’t panicking and can afford a few luxuries but we are always checking bank accounts and planning for rainy days.

We are super fortunate that we both have good jobs (not high earns as we still get child benefit) and talked the other night that I’m part time and always have the option of increasing my hours if I needed.

I know our local food bank has seen a massive drop in donations which is a sign of what’s happening, I feel for people living pay check to pay check and I honestly can’t see it getting better soon which is awful

I'm not worried as things are now because we moved 2 years ago and took a 5yr fix mortgage and a 2yr fix energy, so mortgage is fine, but i am worried where things might be when it ends in 3yrs
Energy i am getting worried, we have a good house, well insulated, but i am concerned we're in for a colder winter than we're used to. Might look for an Oodie sale :-D

Im worried. We have no savings. People around us don’t seem to have those problems though. I don’t know why it seems to be only us because the people around us are in lower paid jobs. They have contract phones, house renovations, cars on payment plans and holidays and we have none of those things. We couldn’t afford to have any of those things even if we wanted them.
Yes, money worries keep me awake at night.

I'm going through changes in circumstances and lifestyle (due to impending divorce partly) family have been helping with costs of school and exams, and also general fees for extra curricular. I never imagined I'd accept help with that sort of thing, but I have. The DC is too old to move schools and to do it in the final two years would be madness in my opinion.

So, yes, money worries. Including home and day-to-day costs. Utility bill is the biggest worry as I have piling debt now.

While we're both working, things are ok.
We've both been through redundancies before so I don't take anything for granted.

I've also used my savings

Short term no. Long term yes.

Cash rich, property poor.

Yes. Everything has increased so much over the last 6 months. We are still fine financially but we’re not particularly flash anyway (old cars, don’t often go on holiday) so it’s not like there’s loads to scale back on if things keeping getting worse. We were able to save previously but are struggling to put anything away substantially now.

No. We're both high earners, and the start of the CoL Crisis happened to coincide with my youngest DC starting school, so our childcare costs dropping precipitously and me going back to working FT. We were also, by sheer good luck, on long-term energy and mortgage fixes.

Same here!

I have no money worries . I am in my fifties and have paid off my mortgages. I have a very good pension .
I am very grateful this crisis didn't happen when I was a lot younger and am very grateful to be financially secure .
FWIW you only have to look at the food hall in my local M & S to see not everyone is struggling .

Hugely worried, we bought a house that needs completely renovating and childcare costs have jumped from £55 a day to £79 a day this year already. I feel sick. He is in 4 days a week.

Been told my promotion isn't happening either now as company cannot afford it.

I'm one of those who you see enjoying myself in cafes and at events. What you don't see is the 60 hours per week I work to pay for it. I appreciate I'm lucky to have my health to be able to do this and children old enough to leave.
If I had to rely on my mainnsalary alone I would be extremely worried about money.

Yes same. We earn OK in comparison to our peers (I think) but we don’t seem to be able to afford most of the things others can. Although someone I know did admit they borrowed money on their mortgage to buy a brand new car, so I suppose they have ways of financing things that I’m just personally not comfortable with. (And I suspect that some of my friends still have aspects of their lives bankrolled by their parents despite being mid 30s!)

But equally there must be lots of people insulated from all of the financial stress judging by how busy cafes and restaurants and theme parks and holiday cottages etc still presumably are.

For many people, the squeeze is going to be slow and constant. They will have already felt it a bit, but maybe still have an expectation/desire to do those things so are still spending (more) on them. However, if food & other prices keep going up and as more and more people get to the end of a mortgage fix and have to move to one with 3 or 4 x the interest, I would expect to see discretionary spending slow right down for many.

There are always some for whom it won't make an impact (eg during the 'credit crunch' I had never been richer) but the massive hike on mortgages is going to hit a large number of people, sooner or later.

Yes and no for me too. I have also been on a 2 year energy fix which ends in October and I fixed my mortgage last year for 5 years at 2.35%. I am concerned about what will happen after that though, I am also in the process of moving and have taken another 40k on my mortgage which is making me nervous. The issue for me is that I am 46 and want to get the mortgage cleared in the next 14 years which will not be doable if interest rates remain high. I have a secure job but am single, not fussed about holidays and the car is 8 years old. Main focus is overpaying on the mortgage over the next 4 years whilst the rates are so low. Food hasnt been too bad with just me and DS 18 and diesel has gone down again so that has helped a bit.

Yes I am I'm on long term disability benefits( no col payments) and I have to consider if every £ I spend is worth it
It makes life very dull

Not for the immediate future, no. But I'm mindful that circumstances can change in a flash.

Our mortgage finishes in a few months and DH has a well paid job. We have two more years of supporting DD at university so a lot of our big expenses are coming to an end.

BUT we really need to start stuffing our pensions. Calculations about when we can retire hadn't taken into account the huge increase in food prices. Our food bill last week was over £60 and that didn't even have any beer or wine. Not long ago that was about £45.

No I am not worried about money, I’m very fortunate. I’m 54 and my friends who are slightly younger aren’t worried either. Where I live restaurants etc are busy and I travel a lot and the planes always seem to be full.

Not any more. Children are now grown up. House is just about fully paid off and we have gone on a few long haul holidays in the last year. What I have noticed is that sheer number of people who are spending on the latest phones, cars and even Business Class on airlines (yes we went Bix Class) is full.

There will always be people who dont work or rely on benefits and get stuck in the 16 hour working trap. I also think there is also a sizeable minority of people who are working on the black market and who pretend to be living seperately to ensure neither side loses their single parent status.