To wonder how do people afford everything?

[JL642]

Just that. How does everyone afford everything?

Coffee shops etc packed here. Social media full of people doing expensive things.

DH and I ate high earners so I don’t get it.

One word... Credit.

Why do people say this? Lots of us have no credit, no debt, and a good disposable income. And before you have the next guess, no inheritance, no bank of mum and dad, and no lotto win either.
Just decent jobs and living within our means.

because it's been reported that the level of unsecured debt in the UK is at an all time high. No, not everyone is sticking things on the credit card and then just making minimum payments, but a lot of people are.

@Teateaandmoretea I am very grateful to the people who regularly upgrade their sofas as it gave me a supply of not new sofas to furnish my sitting room! We had a very scratchy cat. It was a lit less stressful to have him shred a £50 sofa than a £500 one.

The cat went to the great litter tray in the sky so we finally bit the bullet and bought new a couple of years ago.

Exactly this.

We can afford more because we live in a smaller property than I would like, in an area we don't necessarily love. We looked into moving two years ago and decided against it and instead refinanced into a much shorter mortgage at the lowest fixed rate, which means when mortgage rates increased we were unaffected.

As a result we still have some disposable income to work with, even given increased energy and food costs.

That is too simplistic a response!

it is one of many reasons. Priorities, different earnings, family support.

I can afford coffees and meals out - the only debt I have is my mortgage - which is being overpaid.

Oh, it's like going fishing in a barrel...

This.

You can't do that for very long though. Most people have fairly low credit limits, it wouldn't take long to max it and then you're done. And the days of getting more and more credit are long gone.

I’m not sure what you mean?

you are posting comments which are deliberately wrong to get a reaction? Why?

I'd say some of it is going to be problem credit, but it is also quite common for people to put larger purchases on credit cards through choice. For the protection. That would explain at least some of the headline figures about unsecured debt, particularly when people have a 0% interest period so no incentive to pay until that's over.

They are probably mortgage free or bought their house years ago so have much lower repayments. Where I am the mortgage on a 3 bedroom house is around 1500 a month. This is double what it would have been a couple of years ago.

Living on credit or inheritance/family money or a high income.I

I don't use credit cards and rarely overspend. I think the majority of people overspend though. It is a coping mechanism in many cases though.

I agree living within our budget

Yeah. I have some larger purchases on 0% because savings made interest. So logically it made sense. And yes, the protectioon can be handy. I run everything through card, pay at the end of the month (except that 0% one which eas used once for transfer) and very luckily because I did nee their help getting money back. So I show on stats as 1k on card but xk in savings.

These people you know have done ONE thing EACH but on social media it appears like EVERYBODY are doing EVERYTHING. Pick one cool thing to do and then brag about on social media. There. That's how they and also you can afford it.

I’m not going to lie. As much as the question has an obvious answer. I’d hope she was smart enough to know if all her friends did one thing a week or year, lol

I've got no kids and live in a small flat. So DP and I have lots of money to spend and save.

Everybody needs a treat now and then. That can be having a glass of [whatever] in front of the television, or having a mani-pedi, or going out to see a movie, or having lunch with a friend. Posting about it does not mean this person does this all the time.

Single Mum, low income. Cheap mortgage, own car outright, haven't been abroad since 2017, hadn't been before that since I was a teen with my parents. No credit card, no loans, no store cards. All second hand clothing. Budget meals. UK camping holidays. But I'm currently enjoying an espresso martini in a rooftop bar. Because why shouldn't I?

Others on this thread have nailed it… it’s priorities. You prioritise what’s important to you. I don’t go for coffee and cake, it’s just not important to me and I wouldn’t see it as a ‘treat’ because I can usually bake a better cake at home…

Whereas… PT sessions for lifting (to keep my sanity), shoes and my car (to remind me why I graft so hard, are way up there. A holiday this year I am not seeing as worth it for the cost….

We aren't high earners, we have a low mortgage, but we also don't spend stupid amounts on clothes, alcohol, beauty treatments etc. I go to cafes or coffee shops weekly though to meet friends/family, doesn't really cost much.

If you focus on people you know or FB ....you'll see what people are doing and how often.
I look around me, and yes, I see what you mean, but on my FB each person isn't jetting off on holiday each month, buying new cars, clothes and s eating out asthiigh they've money to burn. They are all doing interesting stuff now and again... but your focusing on just general public...and like someone people say, it's what you prioritise.
I don't drive, I don't smoke, I don't drink alcohol and I don't spend much on make up and clothes, never get nails done or cosmetic surgery......but I do send my kid skiing, days out galore and expensive breaks....we arjt in debt either. Totally opposite

I know exactly what you mean, it's annoying. People could have bought their house at the right time or get family help I guess. It's hard .