Anyone else in their 30s and worried?

[NairobiGal]

Of course this might apply to other age groups but I can only speak for myself. I'm in my 30s. Saved and saved to get a mortgage which years ago would have been possible on my wage. Now, once I've saved enough to get a 5% mortgage, it's not possible and my savings are rapidly declining because my wage no no longer covers everything. I'm lucky to be in a position where I have a bit saved, as some of my friends have nothing and are getting further and further into debt. I'm worried that by the time we are out of this mess, if we are ever out of it, my savings will be next to gone, I'll be back to square one, and will be nearly 50 by the time I can save enough to get a mortgage. I know owning a house isn't the be all and end all, but I'm so disheartened that I spent all those years saving and it's now going on rent, groceries, fuel. Etc. Maybe I'm just feeling sorry for myself but I'm just fed up. For instance when my parents were on a similar equivalent to my wage when I was younger, they could afford a holiday every year. I've never taken my son on holiday and he's 4. I'm not entitled to a holiday but things have changed so much. I thought things were meant to get better for each generation. Not worse. I'm really struggling.

OP I know your savings taking a hit will make it tricky but there’s a huge decrease in property prices expected next year. All hope is not lost if you can by some miracle Cling to your savings. And if you can’t then you build again, everything doesn’t have to be perfect in your 30’s. I struggled with feeling like I didn’t have my shit together enough when I turned 30 and it’s not fun

Any chance he can help you out if its his dream?

They’ve still got a property though

Even if it’s a flat

Hardly stuck when it’s something most people know, kids cost money, money you’d need to upsize

I don't think it was a drip feed at all. Whether I'm a single mum because I was abused, or simply because my relationship broke down, it doesn't really matter does it? The circumstances are still the same. The history of exactly how I got here doesn't change that I'm here now. And I'm not saying there was a time where everything was amazing for everyone but it's not that hard to see that things are a lot shitter than they've been in regards to the cost of living than they have been for a very, very long time.

What victim blaming bullshit. Red flags that were ignored.... how ironic that you are yourself plainly ignorant of how domestic violence works. As a survivor of DV myself I find your attitude utterly offensive.

As a parent of children in their 30s I do sympathise.

However it wasn’t all the land of milk and honey when we were that age.

Mortgage rate of 12% anyone. An old campervan we couldn’t take away as fuel was so expensive relative to our earnings. I was a teacher and so not badly paid.

Few holidays - one foreign one that my MIL paid for.

Everything’s ended up ok - now.

Seriously you were 17 when you got together. 17 year olds are not exactly known for their superb judgement.

Yup! But nah, they knew exactly what they were doing and not one red flag

Always glad my life can be a source of mirth for strangers on the internet.

I really feel for your age group. My parents could live comfortably on one low middle income when i was a child. My grandparent's monthly financial needs were covered by the INTEREST on their savings. I was fortunate. Things change generation to generation, i was never going to live off interest or be a one income household, and I had nothing, but married someone whose parents covered our down-payment. We went to uni when it was still free. I don't have children so I've been able to save for early retirement. I feel for my colleagues who like you work hard but struggle to attain some things that just make life that bit nicer. If things keep on this downward trend where will it leave us? I watch and read a lot of dystopian themed things and the futures they depict feel with reach.

OP I'm mid 30s and have owned for over a decade. I don't think it was completely impossible for people in normal jobs of our generation. Yes loads harder now but people our age had better opportunities- you yourself did own. I was NMW when I bought and now husband on average income. We didn't have help to buy. We saved for ages and lived frugally before. However, I do acknowledge that what helped was low rent before buying, having someone to buy with, and subsequently having both a recession keeping rates low and a high paying profession which has allowed us to overpay meaning now we aren't under as much threat from rises. Also life hasn't dealt us a shit hand - we haven't lost jobs, had the sort of scenario you experienced with relationship breakdown post buying, and are well.

It is all well and good people dishing out advice but things do sometimes happen to us which we cannot completely plan for which changes our luck for the worse. Anyone of our generation who had a tough start or things happen before now preventing them from buying or putting them back out of the property ladder will now likely find it hard to get on.

I think it's clear that you are here for an argument and your responses are now turning into digs which are not constructive in the slightest. You'll refute this I'm sure but you are incredibly narrow minded and appear to lack in emotional intelligence. Enjoy the rest of your evening on whatever threads you may choose to demonstrate how unkind you are to the rest of mn.

Read the fucking room.

You sound really immature and unpleasant. You lack basic discussion skills and empathy - your Awfully Marvellous Life Planning apparently didn't extend to acquiring any social skills.

Your brainless squabbling with people on other threads for the sake of it is one thing: you're on very, very thin ice victim blaming women who have been in abusive situations.

Grow up.

Op, ignore cherylcrows. There's always one....

I empathise so much. The first house I bought cost about £2k more than my annual salary. I bought it with a 100% mortgage that had an interest rate of 9 or 10 %.

The last house I bought, 3 years ago, was 4 x my annual income - my income has also quadrupled between my first and last - ie property prices have increased 4 x more than a steep career path.

What would I suggest? Put any savings you have into a LISA. Annually you receive a government incentive of 25% in addition to any interest it earns. To keep the incentive you need to use the money to buy a house in the UK.

I'm not saying this will save you, but at least you'll benefit from the government incentive and hopefully tgat will mean even if you dip into your savings, you may be able to keep hold of sone of it.

Good luck x

I doubt it.

You sound like the kind of poster whose actual life doesn't tally with their imaginary MN one.

Personality excluded.

It’s totally s**t @NairobiGal - I know it’s not much comfort really but honestly, you’re not alone!

I'm sorry I thought you were responding to OP who I thought had mentioned DV. Those sorts of red flags are way more complex than just being able to ignore cut and run.

I dont disagree alot of people will have red flags they could have acted on but its often more complex and there aren't always signs either. I've looked at what the poster you were responding to has said and it seems it wasn't expected. So yes, still victim blaming.

You just seem to view things quite black and white.

All I'd say OP is don't give up, keep trying to save anything you can. I am sure your time will come. Life can change very quickly, both for the worse and better.

Says the person getting overly invested in other peoples lives

Very sad indeed