How skint are you ?

[Jbrown76]

Inspired by this thread on Reddit:

https://www.reddit.com/r/AskUK/s/iR5TPqfSR7

About £3k in current account but we both got paid yesterday so have about £2k in bills to come off that.
£500ish spread between other current accounts which I use for different bits and pieces
£8k in savings

We aren’t skint but we aren’t exactly comfortable either: the 8k is earmarked for new windows and doors which we do need.
We have about £800 on credit card but it’s 0% - we put some large purchases on it, it will be paid off after our next payday.

We have been at the point where we had £50/week after bills fairly recently so this feels pretty flush although I think it’s probably average.

I don’t know why it’s unlikely for most.....it totally can be done.....I graduated with a ridiculous amount of debt, as well as working during term time and holidays.....I remember having no money to
even get to work and having to walk to work (pub) and getting tips and having money to get the bus home....bought my first property which was a mess....but liveable, did it up room by room before selling it. Very much overstretched on second property.....didnt go on holidays for a good few years while got into a better place. Have never lived beyond means and have worked incredibly hard at career.

I do feel that if I can do it from my background then other people can too.

low wage, unpaid carer. one child one adult. No pets. No car (yet)

no debts. Emergency savings and accessible credit in the form of decent overdraft. Have around £4K savings with another 2k overdraft.

I also have a minimum of 6weeks food in the pantry that is rotated. Nothing flashy and it’s really not that much. Just canned soups, beans, pasta, instant noodles, rice, tomatoes, sugar, dried fruits, pickles etc all can be made into basic meals.

I live comfortably but frugally.

i never used to be. I used to have significant debt and barely have my stuff together.

but in terms of security, I’m good for a few months of it all fucks up.

Really?

You can't imagine why it could be unlikely for many?

For starters you are privileged to get to go to uni - lots of people can't...their own health/disabilities, caring responsibilities for family members, poverty and the need to support a family, unable to achieve the grades, abusive relationships....the list is endless.

You are coming across as incredibly naive I'm afraid.

I was already struggling through December and owe over £3k to my energy company and then out of nowhere my dad has died while also penniless and in debt. So now I have to get a loan to pay for a funeral for him because I was his only family member left.

I have an appointment with the funeral home on Monday and they want £1k just to start booking things. I've barely slept in weeks. My partner is also very sick (waiting for a lung transplant) and my whole life is just spiralling right now. I'm certain I'm going to be homeless before the end of the year.

If you are on any means tested benefits, please have a look to see if you qualify for the DWP funeral grant.

Sorry about your dad, @DoAWheelie . That all sounds really shit, and also the definition of skint. I can't believe anyone with tens of thousands in the bank could post on a 'how skint are you?' thread without worrying about thumbing their noses at people who have less than nothing, yet are still expected to pull cash out of their arses for essentials. 'Hey, I have money, and you could too, if only your life and circumstances were exactly like mine.'

Just looked it up, it seems like I will but it will only cover half the cost I've been quoted for the most basic service (no cars/flowers/celebrant and the cardboard eco coffin) so I still need to find somewhere to get a loan.

This is my kind of humour. See you on live at the apollo I hope.

They usually give around £1800. Better than no help at all though. Make sure you keep all receipts/ invoices..

160k in savings. No mortgage or debts. Ordinary job. Sorry. (I don’t know either. I think Im maybe good at saving).

I had put next month's mortgage money into a "pot" in my bank. I'm halfway through spending it.
I owe the council their council tax that was due at the start of the month.
I haven't paid the gas bill.
DH's car has crumbled into rust - he has been bravely soldering a new exhaust in the garden. He can't work until it's done.
I put a sun £9.50 holiday on the credit card this week, but it's not £9.50 it's more like £100.
I have borrowed from the children's savings, making a note so I can repay exactly with interest, but no idea when I can.
A 3.5k bill is marching towards me, which I have no idea how I'm going to pay.
Just spent 55 quid at lidl which I'm kicking myself about.

I'm not in a great place financially for a few months now
-£1400 in bank and its at the limit
Around £1500 in debt , credit card and arrears for different bills
Will get paid in about 2 weeks but that won't take me anywhere near out of the overdraft and will only have a few hundred of overdraft money for next month
Have food in the freezer but will have to spend on the credit card again

Not skint at all but was until about four years ago when I was really stretched. 4 CC judgements and the energy company sending bailiffs. It was unbearable. Having no money is a terrible thing. I have savings now but I'm very, very frightened of dipping into them incase everything goes wrong again.

Before you accept the quote check if your Council/local authority where your parent lived offer a low cost funeral for residents. I know it can feel strange to check prices on something so emotional but honestly it's worth doing.

I don't see that as a bad thing. A levelling of the playing field would benefit most people. Imagine property prices when the market is not driven by inheritance and the bank of mum and dad.

Before the pandemic we were quite well off with very good savings, now we’re skint as in spent up every month. Constantly being threatened and hounded by Eon Next for more money which is stressful.

that was a deliberate choice, not an accident

You both made a wise choice in each other which is great!

However, it's still linked with an element of luck - obviously in retrospect I see my exH was abusive & a financial disaster from early on but that wasn't clear to me at the time.

I, too, thought I was marrying someone who loved me & shared my life values & goals.

That's the element of luck you have had. You can make all the deliberate choices you want - sometimes events are beyond your control.

I'm so sorry 💔 that's so sad to read.

900.00 in current account until the 31st.

no back up savings though - I am terrible at saving 🤣🙈

Oh I stand corrected I have 1026.00 until the 31st.
just need to get top up fresh food shop for the week.

I was thinking this too. Never rely on an inheritance, it's not an entitlement and not a given. I think some are naive about care home fees. A few years in a care home for something like dementia and you can wave goodbye to any inheritance. I know of one person who spent nearly 7 years in a care home at around £50k a year. It would probably cost far more today! More likely £60-75k pa.

That's really wonderful that you have turned that debt around and paid it down so quickly! You should be very proud of yourself. 😃

We also paid down a lot of debt (mostly due to my stupidity) and we were clear, except for Christmas but knew I could pay that off the next month.
Then the transmission in the car went out. 5K on my cc that will take a long time to pay down. I believe the bad stuff comes in threes. My DH has an MRI for his prostate on Mon and then probably a biopsy. That's the second. Will wait for number three to knock me upside the head.

£1,600 in the bank for the month, but the bills are yet to come out.

Massively in debt - DP lost his main client in September and hasn't replaced them or found a new job.

I've taken out 2 loans to make ends meet since he lost the work, plus maxed out my credit card and PayPal credit paying for Christmas (I know this was stupid).

No savings.

Dad's new prescription glasses will be £300 😱 and it's DS's birthday coming up.

I don't know how I'm going to make this month work.