To ask when is the cost of living going to go down?

[scotpancakes]

When will working hard start to pay off? I scrape by every month. I can't afford to save, so I can't afford a house! I live in the South East and rent prices are crazy. Will this country ever become more affordable? For the past 16 years it's been doom and gloom and it just goes on and on!

https://abcnews.go.com/International/wireStory/financial-market-worries-uk-budget-ease-115402289

Thank you so much @PlopSofa and @feelinglikeiwishitwas really appreciate your kind words! Love the idea of taking portraits but not sure I'm that good. I might go down the cleaning route, as it seems EVERYONE (aside from me) is looking for a cleaner haha!

That’s nice to see but huge swathes of industry will stop investing particularly in staff - food retail has tiny margins and won’t be able to absorb the extra costs.

Would starting a business be better?! (Not one that employs staff obviously, so being a sole trader)!

I honestly think this post is so accurate. We really need mechanisms to allow people to change career direction in midlife and the training should be online to allow people to access it.

I retrained for a new career but it cost around £12,000 but I had no choice due to disability - I'm no longer able to work in my former career. My training course demanded in-person attendance and it made life most difficult for parents (especially single parents) and disabled / chronically ill people. There are much better ways of using technology to increase accessibility.

OP I just want to say - things are really hard at the minute financially for so many people. Don't beat yourself up for finding it hard. It IS hard.

@Jabtastic thank you. Your last sentence gave me comfort! I have a lot of very well of friends so I feel I'm always on the back foot but have to realise we're all in the same boat! Can I ask what you retrained as, out of interest?

Yes it really is mean. I think it’s supposedly to reduce sugar content but conveniently they are still the same price. I mean you can mess with a lot of things and I am being very light hearted here but to mess with a girls chocolate is too far.

I think Jacob Rees-Mogg said we'd start seeing the benefits of Brexit in 50 years time so 20-50 years after that maybe.

@scotpancakes If you mean literally go down, with the price of things falling month on month, then be careful what you wish for. Deflation is a horrible thing to happen to an economy because people put off everything they can, as it will be cheaper tomorrow (read up on what happened to Japan over the last three decades). For a small taste of that, look what happens when there is a rumour that the government is going to cut VAT or stamp duty. A small, "Goldilocks" level of inflation is a key component of a healthy economy. Obviously not 10% on RPI, of course.

What I assume you mean is, when will your household income catch up with recent increases in the prices of stuff you buy, and that's as much about the sector you work in and your individual employer as anything else — plus interest rates, if you have a mortgage. The cost of living is your little window into the entire economy. It isn't some dial that the government can magically turn back and isn't doing so just to make people suffer.

British root vegetables have struggled this year as the rain has rotted all the veg. So it is going to be a double whammy

Anything here OP https://www.gov.uk/government/publications/find-a-free-level-3-qualification/list-of-colleges-and-training-providers-able-to-offer-free-places-for-level-3-qualifications

For the CoL to become more affordable for all you'd need to reduce the gap between the top and bottom.

But given that the UK is a "me first" society, and vehemently opposed to any sort of wealth redistribution policies, we just have to accept wealth will continue to accumulate into fewer and fewer hands, with the rest of us fighting over the scraps.

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We are experiencing a cost of living crisis as a results of the Tory party fucking things up for the last god-knows-how-long.

Are people not seeing any costs going down? Yes it’s shit and everything is expensive- it’s depressing even going to supermarket. But I’ve renewed both my car and home insurance in the last 6 weeks and I was offered lower premiums than last year on both. Also my energy bills are less than when the price cap was higher last year. And I am looking forward to (hopefully) getting off my high 2 year fix mortgage I needed to take out in 2023 next year to a rate that doesn’t start with a 5.

Never, it will never go down. The Posh Boys have wrecked the country.

The cost of living crisis has been felt all over the world- much worse in many countries than the uk, even!

It will impact him I guess? vile creature

@FjordPrefect yes can't even leave this shit show now! Thanks Jacob

Really? because a recent holiday in Spain says otherwise. Bullshit.

@fedup33 best description of him I ever read was someone calling him a 'haunted pencil'

Inflation is the rate of increase,so whilst 4% is better than 11% , prices are still going up 4%,and from a higher base

Agree about the retraining, I retrained into tech several years back and it really opened up my options in terms of where I could live. It wasn’t this organisation but a similar one with a similar offering where they help you get a job afterwards as well. I reckon with a little research there are other career switch opportunities, especially with companies that are trying to improve diversity.

https://www.techswitch.co.uk/ - forgot to post the example sorry

It's not going to. Sorry. You need to work out a way to increase your salary or/and you could move to a cheaper part of the UK.

Food prices are going up post brexit. Fuel prices have come down but a lot of that reduction has not been passed on to consumers in all the products we buy.

At least heating and motor costs not as extortionate but its still bad.

Renting is so insecure and interest rate increases are bring passed on by landlords. Even if rates come down the won't reduce rents.

Your best bet is to retrain or look for promotion in your current job. You need to take on more work or more responsibility. Depending on what you do you might find it easier to be at a higher level in your job rather than slaving away at the bottom.. I wish you luck. It's not easy.

I'm guessing you have looked into rent to buy and shared ownership schemes? I personally would be willing to downsize in rental in order to get a deposit together if the mortgage itself is affordable for you. Renting in the SE can be so expensive.