What makes you privileged - financially

[IknoIkno]

Name changed.
I know we are in the worst pandemic since World War 2 and all.

I talked to a childhood friend earlier and she said(in a huff) I am financially privileged because I do not have a set budget for day-to-day expenses.

Is there such a thing as financial privilege?
To think it is the go-to defence for those with poor personal finances plans

@IknoIkno

Name changed. I know we are in the worst pandemic since World War 2 and all.

I talked to a childhood friend earlier and she said(in a huff) I am financially privileged because I do not have a set budget for day-to-day expenses.

Is there such a thing as financial privilege?
To think it is the go-to defence for those with poor personal finances plans

that is privileged. In my view, never having sleepless nights over money is privileged. And no, it isnt that other people do not financially plan. Some people just don't bring enough in because they arent paid enough

I would consider us to be financially privileged and we do have a budget for day to day living and are very good at financial planning.

Privilege is a word that sticks in peoples craw because it has connotations of being handed something for nothing- nobody likes their struggles being downplayed and everybody has had struggles in some area of their life.

Maybe it's more like:
Work + luck = eventually you'll end up financially comfortable
Work + no luck = struggling
No work + luck = financially privileged

You're privileged. Very privileged. I am too. Not because I'm superior, because I was lucky.

I've also been on the verge of being homeless, with a child. Same person. Same common sense. Same good handling of money.

You can lose it all. I hope you never do, OP, but having a bit of compassion for those less fortunate costs nothing.

The answer to that question depends on who you're comparing yourself to. If you're in the UK, no matter what situation you're in, you're automatically more privileged than someone living in an African slum, for example.

Anyone posting on MumsNet, on a mobile phone or computer, is financially privileged.

However, in Britain we always seem to want more than what we have, and the more you compare yourself to other people, the less privileged you feel you are .. but you privileged, just from being born in this country.

It would do us all good to remember that sometimes.

@StoneofDestiny

If you have worked hard and made sacrifices to earn a large salary, it's not a privilege. Unearned income is a privilege as you've not expended any energy, or missed out on things to get it.

See I think it is still a privilege. Things happen out of people's control and also there is a good measure of luck involved in earning a high income along with the graft.

I never considered myself privileged until I realised that my upbringing was the utter picture book example of privilege: parents who loved me, encouraged me, gave me boundaries and options, never needing to fear for my safety or where my food and shelter came from - all those are privileges.

IMO financial privilege is when one is able to earn more than one spends. I was never richer than when in my first job when all my earnings were mine to spend: no rent, no mortgage, no dependents, no car, no boring life insurance etc.
Now, I consider myself privileged because my job and my income are secure which has allowed me a position of strength, independence and security when my marriage failed.

I really wish people would actually do some maths before saying that anyone can be financially secure if they budget enough. Minimum wage is £340 a week gross. No matter how hard working and responsible you are, you will not be able to build any sort of long-term financial security for yourself on minimum wage.

Today I saw something (online) I don’t need. I already have similar in other colours and it is quite niche so I won’t get much use from it. It cost over £100. I thought it was absolutely beautiful and I was able to buy it without a second thought. That is a degree of financial privilege I couldn’t have dreamed of when I was younger.

Op your privilege is showing.

Some of the lower paid workers I know put in ridiculous hours doing a hard graft and can’t imagine life without strict budgets. The devastation an unexpected bill or broken appliance causes can result in them living off next to no food budget for the month.

Ugh!

I feel extremely financially privileged although by others standards I probably am not.

I don't want for much at all, I don't have much either, but what I have is more than many could wish for.

I think being in a position where you can afford to have a nice quality of life without incurring debt is pretty privileged. By that I mean, knowing that if you save or are careful you can have the things you want (not just the things you need). I know I am very privileged. We have a mortgage but no overdraft/credit card/loans. If we want to have a holiday or do work on the house, we have to save for it, but it is very attainable and saving doesn't have to hugely impinge on our day to day spending. We don't worry about things breaking down. Having grown up in a household where money was always tight and every penny was needed, it is lovely not to have to worry. I am very aware of how lucky I am.

I think your friend is right. Lots of people never get the chance to “plan” finances. They live hand to mouth. I consider myself to be financially privileged partly as a result of hard work but also due to opportunity. You are very out of touch if you think everyone gets the same chances in life.

Then you are sheltered with no understanding of poverty and living on the bread line.

This ^

Trying to make up my mind as to whether you have started this to be really goady, or if you really live in such a bubble, and are so shut down to people around you that you actually believe your ridiculous claims.

Of course YABVVVVVVU.

You know, even at 19, my dd - a student at the time, managing on £35 pw for everything after her (inclusive of bills) rent - ie, food, toiletries, travel, socialising, cothes, haircuts, presents, sports expenses, etc - said to me that yes, there are weeks when she feels broke, and there are obviously decisions to make every week about what she can and can't afford but she knows, deep down, that she would ALWAYS be able to come home, or, if genuinely in need, ask us for money. Even at 19, she realised that there were people who did not have that security. Week by week she often felt like it would be nice to have more money, but she knew she had a solid base and so many people just don't have that.

I agree - I'm sure footballers work less hard for more reward than people in jobs where they have to work in vile conditions and long anti social hours. Many TV celebs baffle us all by just how much they are paid for so little. Not all talent or skill is equally valued or rewarded in our society. The ones who may improve our lives, even save our lives or keep us safe from criminals are often the least well rewarded.

I've made this point before and been shouted down.
Actually having a good chance of getting a "good job" or high salary often indicates privilege in that you've had the opportunity to go to university or had a good education.
I think sometimes luck does play a part, either in being in the right place at the right time for a job, or living in an era where house prices and wages were rising at a similar rate.
If you mention luck people are offended as if you're inferring they didnt work hard.You can be fortunate because you worked hard and had luck.
Even having a natural talent for something be that sport, music, art etc could put you ahead of other people without meaning you worked any harder.

of course not having to worry about money is a privilege.

Two people who work equally hard at school, university, qualify in same professional career.
A marries and has two healthy children, grandparents are around and help massively with childcare. Both parents work full time and pay minimal amounts in childcare. Both remain healthy. Money not an issue. Retirement is spent travelling.

B marries and has a healthy child and a child with significant medical issues. One parent ends up giving up work to care for the child. Other works full time. Money is tight. Working parent suffers a heart attack at 50 and has to reduce work hours. Other parent has been able to return to work as child has got older but due to years out, position has massively been affected. Retirement is delayed and spent tightening the purse strings.

A might deserve the money they've earned but it doesn't mean they haven't been in a privileged position to be able to do that

We are very privileged. Privilege means to me:

-paying off mortgage early
-not having to look at prices of things in the supermarket
-not having to worry about household things and the car breaking
-being able to outsource any job you don’t like doing

I am financially privileged, OP, but I used to be broke and you know NOTHING of what it’s like. What’s worse, you’re arrogant enough argue with people who do.

Thanks :)
But it's an electrical boiler, and it the tank itself that fails. Theres no insurance product for it - looked into it last time!

I am very financially privileged in life......now.

My husband and I bought our house outright when we were 25. We have over £50k savings, we live comfortable and don’t need to count t what we spend. I don’t work. My husband does, in a very well paid job.

We came from nothing. Completely nothing. I have numerous college diplomas and university degrees. I am qualified in a specialised area of self employment that I will sometimes dip my
Toe into now and then.
My husband. Left school at 16 with no qualifications and became a pot washer. He worked his way up and now finally has an incredible job.

So we are very privileged and lucky. We have both worked so damn hard over the years, but
Ultimately it was the luck of the draw with my husbands job progression and saving every single damn penny, that made us able to be in the position we are now.

The OP is talking bollocks. I'm financially privileged not because I work particularly hard but because I am fucking lucky. I made a couple of good decisions and have sacrificed a modicum of short term pleasure, plus went back to work very quickly from maternity leave and worked all my kids' lives. And I made a good choice with my life partner. That's it. I'm not cleverer or harder working or better at financial planning than the majority but I am considerably better off than them.

I budget everything. I know exactly how much is in my bank account at any given time as I check it regularly. If I don’t live this way, bills don’t get paid. Things are tight! But we have a nice life, secure home, food on the table, comfy beds etc.

We live very comfortably compared to some. And incredibly frugally compared to others!

Is there such a thing as financial privilege?
To think it is the go-to defence for those with poor personal finances plans

🤣 cute.

I think most people can achieve some sort of "financial privilege" with some form of financial planning and living within personal means.

Then you know fucking nothing OP.

It's this narrow minded unempathetic right wing propaganda that keeps tory voters happy. The idea that poor people are to blame for their poverty, that they should work a bit harder, try harder, be smarter, and all their problems would be solved. Actually, stopping the very wealthy from hording all the riches would go a way to allowing everyone financial privileged.