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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask you to talk frankly about money !

337 replies

Moneyexpose · 20/09/2015 18:27

I don't understand why on this site , and even in rl, people are so shy to talk about money. Including myself, hence the name change !

So I'm inviting everyone to talk money. Feel free to name change if you feel uncomfortable. I feel knowing where other people stand and how they live (e.g. budgets, priorities) can be helpful for everyone. I'll start ;

Have a bf, no children, 24 years old
Earn £48k a year
Live at home with my parents whilst I save up, so no rent. No car either.
Spend £330 a month on transport
Save £2.2k a month for deposit (the £200 may sometimes get spent so im not strict on that)
Have £300 disposable income
Priority order; a home, holidays, shopping, eating out (if im honest, this is probably first Blush )

I know I can't police it, but can this thread please be free from negative comments. Feel free to ask questions so people can also get ideas on how to maximise income, savings etc. And mainly, to satisfy our nosiness (I know I'm not alone !)

OP posts:
lorelei9 · 20/09/2015 19:10

OP - if I had stayed in the parental home at that age, mine wouldn't have taken money from me either, they'd have refused.

genuine question - what do you do at 24 that you make such a good salary so young?

I just turned 40 and I'm all right but not making more money when younger was very silly. However....I don't think £48k was ever on the table for me as I'm not in a super-skilled line of work.

EatDessertFirst · 20/09/2015 19:11

Rather than start another thread, find somewhere more appropriate to preen yourself maybe??

wickedlazy · 20/09/2015 19:13

Dp earns about 12,000 a year, has just switched jobs (similar wage and hours) so hasn't gotten paid yet. When he gets back on track he will start giving me something monthly for ds again (he's not living with me at the minute due to other more personal reasons). He hates talking about money.

yorkshapudding · 20/09/2015 19:13

For the love of god please don't start another thread Hmm

LineyReborn · 20/09/2015 19:14

Well as long as you're 'genuinely laughing,' OP, and you think 'alone' means 'without parents,' then fair enough I reckon you're probably not quite in the Daily Mail league yet.

Original poster
Moneyexpose · 20/09/2015 19:14

Dawn I answered all the negative voices aswell so none were ignored.

Bear I'm not a student and I have been on this site for years (since I was a student)

Button I didn't think people would lie on an anonymous site - there's no gain to it.

john I wanted to learn from others. I have nothing to teach you. Why you would wish misfortune on me though, I don't know.

Gamer I've lived alone and paid bills for myself. Now I'm living at home to save up - not just going out and spending it all. I'm just been focused on getting a home

OP posts:
Nethun · 20/09/2015 19:15

money expose I was hoping to see how much other people earn and save so I could then ask for tips from others (and others could do the same)

What tips do you want? (Or need?)

Bearbehind · 20/09/2015 19:15

I've actually come across a lot of people like the OP in my line of work.

They are obsessed with having achieved earnings of x by such and such an age ie young and want to shout it from the roof tops but struggle to find an audience.

It's truly tiring and pathetic but it seems to please them.

Everyone around them just does the big eye roll and waits for them to grow up.

NerrSnerr · 20/09/2015 19:15

My advice from your OP?

If you managed to live alone at university without a student loan through evening and weekend jobs then you probably don't need much help as you know how to budget etc.

If you lived alone at university with no loan because the bank of mum and dad paid and you are now still indirectly being funded by them I would move out and rent ASAP just so you can begin to learn how to support yourself and live independently.

Personally I hate feeling indebted to someone else.

MaidOfStars · 20/09/2015 19:15

maid why do you say so?

Because if you move in with your partner, he is unlikely to pay your rent, food, utilities. Your parents are doing just that.

Therefore, you will be poorer.

BreeVDKamp · 20/09/2015 19:16

Hmm. I kind of see where you are coming from OP but I must admit I was a bit ShockHmm reading your OP.... I would be embarrassed/ashamed to be earning £48k, with very few financial responsibilities, and not even having offered to pay my parents rent. You are in an incredible financial position! I'd rather rent a place myself than live at home with my (lovely) parents though, I'd go mad!

I do think it can be helpful to be more open about money and I don't mind talking about it, personally.

Since you asked:
I'm 25, DH 28, one baby DC.
I earn zilch currently, and pre-dc earned less than London living wage (living in London, obv). DH earns £85k as of last month. We feel incredibly fortunate indeed!!

Own our own home (our 2nd purchase, moved when baby was 7 weeks old, agh!), have 1 car.

MaidOfStars · 20/09/2015 19:18

Dawn I answered all the negative voices aswell so none were ignored

Dawn outlined her currently precarious financial situation. In the interests of your OP, where you claim to want to share tips and budgetary advice, what words of wisdom might you have for Dawn?

Dawn Flowers

ButtonMoon88 · 20/09/2015 19:18

People don't talk about money because like religious and political beliefs it can get very personal and judgmental and change relationships very quickly.

Me and my partner are self employed and live in London, we earn considerably more than what we could if we still lived in the Midlands, where we are originally from, which leads us to believe we probably earn more than our pals who are still there. But it's not my business how much or how they manage their money.

You can google how to budget money without coming on here and waving figures around, which frankly if you have a shred of intelligence, you should have realised it would cause offence.

shoopshoopsong · 20/09/2015 19:18

Also - if you genuinely are asking because you want financial advice - living in a shared house is not living alone. It is SIGNIFICANTLY cheaper

ThroughThickAndThin01 · 20/09/2015 19:19

OP - I do understand you on the not paying rent to your parents, because to me, our DC's bedroooms are their bedrooms and they are always welcome to use them at whatever age they are/until when Dh and I downsize.

But I recognise that a lot of parents can't afford to do that for their dc. And the thought of adult dc living with their parents for free is inconceivable to very many people.

On MN you have a huge variety of people in a huge variety of circumstances. Much, much more variety than you - or any particular person - has in their circle of friends and relatives.

grumpybear68 · 20/09/2015 19:22

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Mrsfrumble · 20/09/2015 19:23

I don't refrain from talking about money out of politeness, I just find it boring and I don't care. I honestly have no desire to know how much my friends and acquaintances earn.

Obviously I care about poverty; I opened the thread because I thought it might be about tackling poverty by removing the stigma of asking for help when you need it or something.

But knowing how much a random well-off stranger spends on transport Confused? Zero shits given.

Original poster
Moneyexpose · 20/09/2015 19:24

shoop it's actually not that easy

pitrean If I can ask, are you guys saving for anything in particular or is it just because you are natural savers?

john Perhaps I want to start a family ?! Perhaps I once was pregnant ?! What an ignorant comment.

Nerr I did work at university for the living.
My problem is mainly about the future. I do have certain goals I want ro reach in terms of saving and a family. I wanted to see how other people have their setup and then I could ask for advice off what others have. For example, if you live together you obviously can get the home quicker and pay it off quicker, but if you buy your own individually then you are more protected, yes? Especially if you are not marrying

OP posts:
laffymeal · 20/09/2015 19:24

Dh is a drug baron, pulls in between £5-8k a month. I launder the money through a taxi firm we run. Also own 6 b&b properties, mainly DSS tenants, that brings in another £4k pure profit. We save via premium bonds and peer to peer lending sites like zopa. Hope this helps op, Ps people lie on the internet Grin

SiobhanSharpe · 20/09/2015 19:24

So what do you do to earn 48k at age 24 ?
And did your parents pay all your university expenses? Tuition, rent, living costs? I don't see any student loan repayments in your expenses.
Given all that you don't seem to have much in the way of savings for someone on a fairly good salary (although not as good as mine, unstealth boast) who freeloads who lives at home rent free.
i'm thinking escort

00100001 · 20/09/2015 19:25

Out of interest OP, how much do you need to save for a deposit? Are you going to purchase this with your boyfriend?

You're doing fine if you're saving over £2k a month, be assured that what you're saving is more than most people earn in a month.

lorelei9 · 20/09/2015 19:26

OP, I missed the post where you said you wanted tips. I don't think you need tips on maximising income but in terms of saving - I guess for you it will be about when you hope to buy.

So longer term investments may not be ideal but are you using your ISA allowance every year? Have you worked out if you are willing to have a "risk" section of savings for shares which you can hang on to if you ride out tough times in the stock market?

Are you cycling money through accounts to get the higher interest rates offered - much of the time it's current accounts e.g. Santander, offering better rates on instant access.

00100001 · 20/09/2015 19:26

Yeah, what is your job?

And do your parents pay for you to go uni?

MaidOfStars · 20/09/2015 19:29

But I recognise that a lot of parents can't afford to do that for their dc

For my parents, it would be an issue of principle, not money.

SiobhanSharpe · 20/09/2015 19:30

Santander only offers the high rate on up to 20k savings, and it is hedged about with lots of conditions.

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