How skint are you ?

[Jbrown76]

Inspired by this thread on Reddit:

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

Ah yes, I see what you mean.

I guess if I had moved money into savings, I see that as gone, so I too, would still say I was skint, despite having locked away savings or property equity. I how see that's illogical to some, but it's not to me, I almost don't count savings as "money" because it's not accessible or in my mind spendable, I'm very disciplined on that aspect.

I relate it to purely my general income and expenditure balance.

I get your mindset as that is what I do

But having been very much skint (skipping meals) when I was a single mum with an ex who cleared out the joint account I am always acutely aware that it is a choice not to spend my savings and objectively I am very definitely not skint

Just today, we received our last outstanding invoices from the past month or so.
I was out of my overdraft.
I paid off big one chunks of CC debt.
I had £1500 in my account. DH had £1800.

We were going to get back on our feet over the next few months .....and DHs car has broken down, and it's uneconomical to fix..
So back to square one we go.

I got paid on the 16th Jan and have £60 to last me until 16th Feb. This doesn’t include food shopping or bills so I feel pretty fortunate reading this thread, which is a real eye opener.
I know what it’s like to be dirt poor, having to wash my clothes by hand in the sink and skip meals, and have worked hard at paying off my debts after racking up thousands on credit cards on kindliness shite - clothes, makeup, meals out, holidays etc and generally living beyond my means.
I now try very hard not to use my credit card unless I really have to and have build up a very small emergency fund, which I’m proud of.

This was published yesterday

https://www.jrf.org.uk/deep-poverty-and-destitution

I tend to agree with other posters;
Skint= temporary lack of funds although temporary could be years eg: " we were skint when I was on maternity leave or paying for 2 sers of childcare". But there is an expectation or hope things will get better.

Poor or in poverty = enduring lack of resources, you can be skint living in a nice house with smart clothes. You aren't in poverty.

Deep poverty= as above with no chance of things getting better.

V. sad reading. End of last month I felt a bit skint , used up some Asda points and walked when I would rather have taken the bus, we all took packed lunches and the car's petrol gauge is on red. Now I have been paid I'll fill up the car and give the kids money for lunches. I wasn't poor or in poverty before payday.

I think the sarcasm was dripping off her fingers so fast, it almost shorted out her keyboard/phone.

So, you really thought that you were "skint" because you have to pay off a 15K vacation, get another vacation booked for a change of scenery and call it your "play money" that is short after "paying for all that" and Christmas gifts. Then informing everyone that you and your DP have very well paid jobs and lots of savings.

There is nothing, and I mean nothing, that fits "skint" in your post. I think it was quite rude to post and act like you were.

According to Merriam-Webster/Cambridge: Skint is a British adjective that means without money or penniless. Also lacking funds, especially in a temporary way.

’lacking funds, especially in a temporary way’ perfectly describes my situation.

Not all, I know people who were on free school meals and under the poverty line now living in £1m house. No help from parents except being allowed to live at home and save, whilst paying modest rent.

I realise that’s not the norm, but it does happen.

But you did realise. You’ve read posts from people who have £25 left to feed a family for a week.

And yet you couldn’t contain your glee and you contributed that you spent £15k on a holiday and you have a lot of savings.

You need to learn to read the room and keep it in.

OK, my comment seems to have caused a stir.

I should say "from my experience" as anybody I know under 50, does not have an extravagant home, huge savings and live on significantly less than their parents did at that age.

I am sure there are exceptions but I am talking about the majority.

You have LOTS of savings and your "play money" is shortened. You HAVE play money. You have no temporary shortage of funds with "lots of savings". Not wanting to touch savings does not put you in the same category of people who have little to no savings.
My opinion stands.

But hey, if you want sympathy, here you go:

Interesting how if you look at similar threads from a few years ago there wasn't posts about having savings as much. People seem to be more self absorbed, tactless and out of touch.

Someone needs to start a GoFu**Me page for them. I just cannot imagine their pain. /S🙄

Agreed. It's as tone deaf as jumping on a thread about ill health to boast how well you are. Or a thread about struggling with appearance to boast how beautiful you are.

I am both disabled and have a disabled child- money thinks I’m dead.

@ellie09
OK, my comment seems to have caused a stir.
I should say "from my experience" as anybody I know under 50, does not have an extravagant home, huge savings and live on significantly less than their parents did at that age.

I am sure there are exceptions but I am talking about the majority.

So what you are saying now is significantly different. You are now mentioning extravagant homes.

Amongst my friendship groups, and my sisters friendship group( we are all in our 50s) it has not been that difficult to get £100, 000plus saved and houses paid off.

Many if us live in terraced house, like you see on coronation Street, that were cheap to buy in the late 80's so paid off quickly. By the time a lot of us were in our mid to late 40s, the kids are late teens/adults have left home. With two wages coming in its been easy to save.
Pretty normal amongst my demographic and peers.

I've just added up my debts and I'm about the same but it's across several which is why I suppose it feels so much worse. If it was on one or two I don't think I'd feel so bad.

GoFu**Me page

@midnights0 we have £22k of debt not including the mortgage. I don't advertise this to friends or family. They all know we have some debt but not to this extent or that I am having to work overtime every week night. They just think I start later in my job each day when in reality I am doing 8am-8pm. I am totally exhausted.

Edited to add we can pay the debts every month, but I cannot see that we will ever get to the end of the all the debts. We have 2 large ones that are due to end Dec 2024. We have been paying these for 5 & 3 years respectively at a combined amount of £500pcm. Once these are gone, then the £500 will go towards other debts each month so we can start paying off larger amounts. I am wishing my life away to settle/clear the debts.

If I may ask, why do you have so much debt?! Was it unavoidable or just due to bad budgeting? Hope you can see the light at the end of the tunnel soon. And if you need financial planning help please seek it. Take care!

@midnights0 just wanted to say that you will get there eventually, even though it seems never ending and like there's never a way out. In 2020 I had over £18k debt and have now got just under £2.5k left to pay which will be done by the end of this year. Solidarity to you as it's shit

Sorry my post should have been to @Mybigtoenail90 but I tagged the wrong poster

Skint, but shouldn't be. I earn a decent amount and have two jobs (one main job and one part time). However, I am the only wage earner in the family and there are many additional demands from family, including care related bills.

Is the mortgage in both your names? Is the debt in both your names?

A few of my relatives have filed for bankruptcy and I think it was the right thing for them.

I would speak to a debt charity for proper advice.