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!

Being single is expensive and even more so as a parent. Looking at my friendship group rapidly approaching 60 so much older than you even though all benefitted from a time of cheaper housing it’s the ones in long term relationships that are so much better off. Is your ex a decent co parent?

Post budget inflation is expected to rise from 1.5% to 2.5% according to the OBR. So if anything it’s expected to be worse.

The UK has a better welfare state than many though obviously not prefect, it’s actually one of the main reasons why there isn’t unrest. Both Smith and Marx believed this to different degrees.

Sorry if my message sounds very insensitive but I'm afraid nothing will drive the costs down anytime soon. Complex issues are at play such as climate change affecting crops and energy prices, political decisions, economic realities, wars affecting world food chains and fuel prices etc...
It's not an easy fix.

I am almost 60 and I wouldn't say it is the new norm. It is just the norm.

We have had to move around the country several times for work. We ended up living hundred of miles ftom our families.

Luckily, we have never been particularly materialistic do have managed and saved for the future.

It’s also totally impractical in many careers. If you are a 40 year old single mum working as a teacher, you can’t “retrain” to be recruited into the Goldman Sachs graduate training scheme. You more than likely can’t retrain to be a magic circle lawyer. Even retraining as a dentist, assuming you have the grades to get in, is going to involve at least five years out of work (going through dental school) then several years of low salaries as a trainee/junior.

It’s good advice if you are in a low paid unskilled role, or long term unemployed. For people on average salaries though, “retraining” isn’t a foolproof route to a six figure salary.

I don't think it will either. I am a teacher and although I had a good pay rise I am still not on an amazing wage.
The COL is having a big impact. Nearly 30% of children are living in poverty in the UK and it's still rising. It's bonkers. How the hell are people on low incomes supposed to live.
In fact, poverty has increased highest in families where at least 1 parent works.

People are working just to exist and any little pleasures such as a small holiday and days out are not achievable for many now. I took my self to Costa the other day and am looking at £4 for a coffee. A small treat has become unaffordable. Even a bloody caravan holiday at the coast is a stupid amount. I looked at booking a pantomime for 4 and it was nearly £200!

Tbh I chose a poorly paid profession ( healthcare) and now rue my decision. Dd wants to be a banker ( thank god). In short if u want more money retrain to a well paid job.

What are you trying to say? We had out first holiday for years.We enjoyed a meal and wine for about 30 quid.

@Cel77 just by saying that, you're not insensitive at all ☺️ appreciate the reality and the kind approach xxx

This isn't helpful for you now but I honestly think it's very difficult to climb out of this once you have already started private renting and having children, especially as a single person. Nearly all millennial homeowners I know bought as a couple (and therefore dual income) in their 20s before the expense of having children - those who had children while privately renting in their 30s have very little hope of buying.

Short of an inheritance, I think your only options are really moving or re training (which has a price tag and timescale attached!)

It doesn't go down, it just goes up.

Deleted as missed off quote.

How does that mean there is no COL crisis in Spain? Do you think that the Russia Ukraine war somehow only impacted the uk?

We're in a similar situation - DH has reached a sort of plateau and not had a substantial pay rise in 10 years, however, in the past six years, I've both gone up from three days to four and also had a promotion to get me back on the same level as I was pre-children (had to leave job and get one at a lower level after DC2 was born). We're also out of the nursery years so lower childcare costs.

So we've managed to so far weather the COL crisis and do relatively okay. However, we can't really improve things much further (unless I go up to full-time, which will be tough with two primary-aged DC, one of whom is ASD) and we're both in the same financially-screwed sector, so pay rises and promotion opportunities are just not going to happen.

We were fortunate to fix our mortgage for 10 years just before interest rates rocketed so our current tactic is to try and pay off the majority ASAP whilst we can.

I get it @scotpancakes I used to feel ok on my wage, but it has not risen inline with inflation in the past 15 years and like you I am now at the lower end of squeezed middle clinging on trying not to get pulled into poverty whilst still having no help from either employers or government in either increasing my income or keeping my job all the while getting very little help from government whilst raising small children and equally getting the bare minimum from the children's other parent. I can't move and already work in a 'flexible' job...so flexible that as soon as we get too expensive they offshore the jobs, hence being able to keep our wages suppressed regardless of experience and knowledge. I have been through at least 2 other cycles of this in my career and this has been the worst, probably because I have children in tow.

Sending love @FlippyFloppyShoe I love a 'flexible' job. Which also means you have to give away a spare kidney as thanks for the flexibility! You also are too scared to leave said 'flexible' job as you'll lose the flexibility benefit!! Here is you ever want to chat over DM!

It’s so hard both financially and mentally running a household these days on one income, and supporting kids. As at least one person has said, it’s either retraining or relocating (it doesn’t need to be to Hull!). I retrained as a counsellor. There aren’t many jobs, but you can earn more than £40K - £60K both as an employee and as self-employed, particularly if you choose to train as a CBT therapist.

Do you have any plans on buying your own home, or getting a shared ownership property?

@benfoldsfivefan oh that's really interesting! I am very familiar with CBT as it's something I've done myself. Where did you train for this?

Lol I just checked out the CBT courses too, but I'm not sure I'm the kind of person they would be looking for! Shame really.

Never. This is the new normal. They know much people are willing to pay for food/energy/bills so will keep price gouging and using various excuses such as inflation (which has decreased), NI increase, minimum wage increase ect

It's never going to happen.

Eat oats with your mince. Top tip.

@scotpancakes I did a Masters in person-centred therapy (sometimes called normal counselling and you can do a PG Dip in it if you don't want the Masters) at a university in the north west, but that university also does the post-grad diploma and Masters in CBT. A lot of places all over do CBT training if you go the self-funded route and want to do an accredited course: https://babcp.com/Careers/Training-in-CBT/How-do-I-become-qualified-in-CBT 

Alternatively you can do a CBT Diploma course that isn't accredited, usually at a local college.

Also there's a NHS Talking Therapies training programmes where you get paid NHS Band 6 pay but these are very competitive and you need a mental health qualification first. These opportunities are advertised on Indeed.

I think it's hard not to feel created if you did all the 'right' things and still like you're struggling. It's like the contract 's been broken.

The ideology I was fed was this:
Leave school young, get a crap job like we did and you'll struggle.
'Struggle' meant
Buy own house
Get by.
1 old car.
No holidays.
Every penny watched.

I didn't want that. I wanted enough to:
Buy a house
Go abroad once a year.
Have a decent 2nd hand car.
Have the heating on 20.

In order to do that, i:
Went to university
Got a profession
Bought a small house in an affordable area

And surely that should be enough? I'm lucky, although I bought at the height of price madness in 2006, I bought with now dh. We have everything on the list, but only just. And as for these mythical savings everyone is meant to have....

And if we're only just getting the nice rewards for working, how many more people must be just working to survive? Like our grandparents did? But my grandparents expected nothing more, because that wasn't for 'the likes of us'.

And it's great to tell everyone to retrain, but what happens (hypothetically) if all the mid level professionals and manual workers retrain? Who does all the lower paid work then?

What jobs should people be expected to do to enjoy a life with a few treats?

I don’t think it will get better. Food shopping is the one I’ve noticed the biggest increase with. I guess when my children leave home the bill will decrease but otherwise I think that’s it. We have a house and pay a substantial mortgage and we manage to save each month towards Christmas/annual holiday (UK) but we don’t have lots spare for eating out, treats etc.

however I’m grateful that we both have a job and we have a nice home but yes sometimes it feels a bit relentless

Noticed the toddler session at soft play has been hiked up again. I think they think we don't notice!