To think there should be more help for middle class families

[RootinandTootin]

This isn't a hate mongering post, those on lower incomes and can't work should be helped. My issue is that there seems to be little to no support at all for middle class families. Myself and partner work 5 days a week and have 2 kids. Not a terrible wage so I can't complain about that but the energy cost, food bills and fuel are going to cripple us soon enough. We also have Christmas to think about and a couple of birthdays inbetween. I just feel so unbelievably stressed out all the time about it. I'm praying this all calms down by the end of next year when our mortgage is coming up to renewal. There is pretty much no help being offered to us (unless anyone has some hints). I can't see it getting any better and its pretty depressing, alongside other personal issues going on at the moment I just want to cry.

I think o sort of understand what you are meaning, but you have gone about it the wrong way.

Middle class- I think you mean Middle income, or an average family.

Of course the govt shouldn't be paying for your Xmas/birthday.

The bare bones of the matter is life is getting more expensive, no one can afford what they could a few years ago. Everything has gone up in price and income has largely stayed the same.

Majority of people need to cut back on non essentials

I don't disagree that wealth distribution is mad in our country and full time work should provide a better quality of life.

I think everyone thinks they are "middle class" though. In reality many of the people who consider themselves thus are on (relatively) low incomes.

MC families shouldn't need help - they should have a decent standard of living. Getting haircuts and going out for meals should be normal and expected.

This is a rich country. Ok, current political situation hasn't done much for everyday people but it is a rich country. Children shouldn't be hungry. There shouldn't be this race to the bottom of freezing houses and being grateful for a miserable existence.

If you want public services (schools, hospitals, roads, care homes), you need to pay tax. Tax and public services are good things for average, normal people. And by normal I mean households with incomes under 250k*. (They are also great for businesses who benefit from skills, safety, infrastructure but that's a rant for another day)

I've worked alongside government and it's wasteful to the highest level. I was in a pack of consultants being charged on a daily rate of 6k EACH for months and I didn't have anything to do. I couldn't give a shit about benefit fraud - it's nothing in the grand scheme. It's propaganda and a dog whistle.

• yes I'm aware this is a WHOLE lot of money. I'd say it's the level where income - that is earned through working - tops out.

On a much smaller scale I've also seen major wastage and overstaffed as in not much to actually do, mainly in the days of the mid to late 00s in the surestart children centres. I remember thinking how much public money is basically being taken the piss out of. When it's public money, its not treated as valuable as the private sector have to.

Why should people have to sell their home they've worked hard for? This isn't about wanting a government hand out or people living beyond their means, its about households who have previously been able to live with a bit of wriggle room being pushed further and further to not affording the life they built and managed to fund because the cost of living had rocketed, people can't manage the mortgages which have jumped, utility bills and the weekly food shop. Also if everyone sells their home the money will very be quickly be eaten up by bills and rent, then what?

Yeah, this already happened in 2008 (and before). And it will happen again without a government handout. It’s called an economic crisis.

Its a fact of life that hard work is no guarantee of financial security.

From your previous posts you should not be giving out any advice at all.

I haven’t given out any advice. This isn’t an advice thread.

@disc

Balls. @Discovereads you were spouting on about people taking second mortgages and whilst you weren't telling anyone to do it, it was general advice. Now you're just being weird. I think you almost... Enjoy this?

Sure sure I could sell it - and where will I find a rental property that is wheelchair accessible,

The same way I did. I rent and am in a wheelchair. Lots of wheelchair users rent.

You clearly missed or just ignored my previous post in answer to a post of yours where I responded to "advice " you gave..

Don’t be daft. The equity in your home is your money.
Im not saying it’s a “golden ticket” I pointing out the fact that in desperate times you can absolutely access the equity in your home. I’ve done it.
Interest rates are between 2% and 10%.
Yes it is easy and repayments are very low because it’s over a 25yr term. So taking out £20k @ even a 7% interest is a monthly payment of £138.62.

You've also lost 4 homes as you said on this thread.

@Discovereads I am aware of what an economic crisis is, I wasn't asking that

No. You own the equity in your home. The rest of the value of your home is the debt you owe to the mortgage company. I’m not saying the “pile of cash” is the total value of your home, I have said repeatedly it is the equity you own, which is true.

And no, you don’t pay all the interest on your mortgage before you pay a penny of principal. First you have a minimum % equity you have required via your deposit. So from day 1 you have equity on the house. And then every mortgage payment, you pay both interest and principal so your equity grows. Yes early on, most of the payment is interest, but it’s never all interest. Your equity Aldo grows as the house value increases, and they have been increasing at substantial rates the past decade and a half.

No, it’s not why.

It's not, it's entirely dependant on house price and what you sell it for. For instance, an estate agent tells me my house is worth 100k. I get a settlement figure of 50k. Excellent, I think 50k to pay off my debts (that I'll not be able to pay back, mind). So I sell it, and I only get 80k. The equity I thought I had, is now much less. I've only got 30k.

Do you understand that?

And frankly LOL at interest rates of 2%

You're suggesting that people who can't feed their kids, so have £0 left. Nothing. Nada. Nowt. Borrow more money and pay back an extra £138.62 a month, from their nothing they have left.

Where are they finding this extra re payment? Considering they borrowed this money because they had nothing left? Magic money tree? Up their arse? Sell a kidney?

Entirely agree

Yes, but to be genuinely in poverty you must be both asset poor and cash poor.

7% is a huge amount of mortgage interest, even over years and most people cannot afford £138 a month on top of their other bills. Please STOP spouting this very bad advice to people!

No, it still doesn't work like that 🤦🏼‍♀️

I’m NOT advising. I am responding to posters who are wrongly stating you cannot access the equity of your home when a homeowner in the event of a crisis.

Sorry but you sound like you are incredibly bad, reckless and nieve with money.
Well you can fuck right off. You have literally no idea what drove me into such a situation where I had no choice but to try and save my home for as long as possible. Thanks for the fucking judgement.

It wasn’t advice. It was me CORRECTING your idiotic claims that it is impossible to access the equity in your home without selling it.

It’s not FUCKING ADVICE!!!