So things are tough at the moment for a lot of people, me included. I don’t know if I’m being overly pessimistic or not.
I’m a single mum the wrong side of 45. I own a house in a reasonable area (mortgage which is paid off when I’m 62). I have always worked full time but my wage / market rate for my job is pretty stagnant. I have a number of combined pensions which aren’t worth much, taking a big hit with Liz truss budget. My employer are cutting costs and are getting rid of people but mostly through the negative way of giving no work / impossible tasks. Even if I got offered redundancy, it would only be a few months buffer and my employer doesn’t tend to do that anyway. I’ve been looking at alternative roles but not only are they less money, they want new/different skills than I have,(not easy to learn independently/not at a workplace). I think ultimately I will lose my job this year and worry that I am not going to be able to find another one- my skills and knowledge are mainly relating to my current company.
Life is sooooo expensive - I have a strict budget but still spend a lot on heating and food - much more than previously. My mortgage comes off a fixed rate next year and will go up. I’ve cut all unnecessary expenses all that goes out now is :
mortgage, Gas, electric, water, council tax, house insurance, broadband, payg mobiles, tv licence, food/toiletries/household which I’ve down branded or cut down to reduce costs. Also car insurance /car tax/ car mot/fuel. It would be very difficult to not run a car - it would impact my job options a lot, plus any leisure time as limited what’s in walking distance and public transport is patchy, with the trains being very expensive.
With the current cost of living, I could take a £5k pay cut and all the essentials would by covered but any less it would be minus every month. But that still wouldn’t leave any buffer for clothes / shoes / electrical appliance replacement (washing machine, oven etc), house maintenance/ improvement / furnishings, days out / takeaways etc. But I can’t keep changing jobs to get a pay rise (less likely as get older and pension situation) and the highest pay rise I’ve had whilst in a company is 3%. I’m also conscious that I need to save more for my pension but I can’t seem to do the sums to make it happen. I could move to a different (rougher) area and save some difference, but after all the fees, it would not likely be much and would only save about £150 per month on the mortgage. My travel costs would go up for work / insurances. I think my son would be devastated if we moved out of the area and his life chances are much better if we stay here.
Yes I could win the lottery (play 1 line per month), or get offered an amazing job, but I think I’m being realistic when I think the chances aren’t good.
So, it seems I’ve got another 20+ years of slogging it out, just to keep a roof and food, stressing how I’m going to buy new shoes, or other things I can’t do without like washing machine, whilst praying that I don’t get made redundant from any job I have. And that’s not even thinking about what happens after as I calculate my pension won’t cover living expenses even with the mortgage paid off. Hopefully my son will have found a reasonable paying job by then and be living independently so I could sell and move to rough area by myself having the proceeds from the house to support me if I don’t live too long. I’ve thought about working evenings / weekends but the rates are crap and taxed plus I’m knackered / perimenopausal. I’ve thought about learning new skills but nothing really appeals to me apart from unrealistic options like helicopter pilot. I’ve tried to learn coding but it just isn’t for me.
I have no family and do have friends but their circumstances are all different to mine (not saying they have no problems ) . It’s also harder to maintain relationships when watching every penny.
so, is this really it ? :(