To wonder why it feels like we have no money?

[Wheredoesitgo]

DH and I earn well between us. We aren’t mega wealthy or even close but we should be very comfortable and I just feel like we aren’t.

I just feel like we have no money? DH is self employed and had a tough few months last year and the tax return coming up isn’t helping but even month to month my earnings just seem to disappear with not a lot to show for it…

Would love to go away (2 primary school aged DC) but a week in Spain in July (just before school holidays by a few days to try and reduce the pride a bit!) is coming in at around £1100 plus each for a week AI (we spend less this way with the kids than self catering usually as they are fussy). They need spring/summer wardrobes but feel like I can’t really buy new and can only afford bundles on Vinted which I never find exactly what I want.

I dread the food shop as there’s just no way to get it cheaper.

I’d love some new boots but can’t justify the cost.

As I said we earn quite well so it just seems crazy to me that things feel so tight - anyone else in the same boat?!

What outgoings do you have that others do not?

Your list was the same as everyone else's.

How big is your mortgage, for example? You've chosen that house, you could have chosen a cheaper house and still could.

Money is really about making choices at your income level.

Haven’t read the entire thread but just watched this from the brilliant Gary Stevenson.

We’re all increasingly poorer because of the power and money balance sliding away from the population to a very small number of the mega wealthy. You may think this isn’t relevant- but the ultra wealthy, the multi billionaires are fighting for an ever larger slice of the pie, the available resources, the politicians and their policies, the media to influence us and the housing stock…and they’re winning.

This is what is driving it all imo and is very relevant to what you and many others (less well off like myself) are experiencing. .

The distraction they use to achieve this is hatred towards immigrants, foreigners, so they can continue and expand, to plunder the finite resources we all have to share.

End result is we all end up very poor.

Childcare is a big hit, made a huge difference for us when it was no longer required.

Strong suggestion, go abroad February or October half terms, when the weather is crap here, and holiday in the UK in summer when the weather is as good as it gets here. Camping or static caravan.

@verycloakanddaggers around 2.4K per month. We wouldn’t be able to move somewhere cheaper. Firstly - our house isn’t anything special anyway and secondly we wouldn’t get a good deal with DHs self employment.

we have very good LTV but took a shorter term and much less than affordability offered us but interest rates got us after fixed term.

I really don't know how you make a chicken last like that. I have 2 teenage boys. If I buy a chicken they eat the whole thing in a sitting. That's a 2kg bird. They'd eat the bones if they could. I'm sorry for not believing you, I just don't though.

@Namechangeforthis88 we wanted to do Feb half term but nowhere short haul is very warm so seemed risky!

Do you have any subscriptions - Netflix, Spotify, Disney+ Audible etc

@MILLYmo0se Disney and Netflix. We use Netflix a lot but could probably scrap Disney tbh.

Do you have any subscriptions - Netflix, Spotify, Disney+ Audible etc

OP has a household income of around 145K - £400/month on a car, 2.4K on a mortgage, I really don't think the £100/month on subscriptions will make that much difference.

No. They're just better with money than you.

There's so many of these posts....oh, we make more than 90% of the population but it's just soooo hard to manage. Give it a rest.

@HipToTheHopDontStop right. Everyone has the same outgoings. Got it.

@denhaag

No, not by just getting rid of the subscriptions but by shaving £100 here and there makes a huge amount.

I sympathise, OP. We are in a similar position. Unable to offer much advice but it seems that many others are struggling similarly - and yes, I remind myself that we are not living in poverty/a war zone and have a roof over our heads and enough to eat.

But I hear it all the time from people at the moment - that making ends meet feels far harder than expected even given relatively high incomes. Much harder than it did 10 years ago. And certainly harder than it seemed to be when we were kids. I guess it’s a perfect storm of insane house prices, mortgage increases and cost of living going up everywhere…but it doesn’t make it any easier.

No. Are you as bad with the words as you are with the cash?

I think the problem is everything is just sky rocketing. We were more financially comfortable a few years ago before I had a big pay rise yet now with so many costs increasing we seem to be tight each month. So many food items I buy have gone up 20-40%. Gas and electric obviously sky rocketed. Things like car insurance have gone up. Holidays we used to pay £3k out of term time when kids were little. Now it's £6k +. I don't know how long these increases are sustainable.

@HipToTheHopDontStop probably - but I’m not rude to anons on the internet asking for advice, so that’s a bonus.

Agreed. A quick search on jet2 with a free child place mid July from London I can see prices from 2.5k for ai for a week in Spain

They've made different choices. You made your choices, they made theirs.

You're in control of your financial choices.

@whydoihavetowork I think this is it really.

Things that were once affordable just aren’t so much as costs are rising so quickly. Much quicker than wages.

Op

I feel your pain - when is your mortgage up for renewal?

What rate are you in? They usually let you change up to 6 months early I think?

Sometimes it’s even worth paying the redemption penalty to get out early if it’s fixed at say £999

Housing, utilities and council tax are hurting everyone’s pockets in the U.K. - taking a massive chunk of monthly salary barely leaving enough for essentials

The lucky people are those with no mortgage costs!

I am looking to downsize because I’ve had enough of lining the banks pockets!

Even then I’ll get a big stamp duty fee when I try to do so!

@verycloakanddaggers absolutely. Never said otherwise 🙂

True enough, I'm just baffled that a family on that income is struggling with the food shop, buying clothes for their children and boots for themselves.
Sure, COL etc but it does sound like many people do not give themselves any wiggle room for the unpredictable. I remember interest rates of the 80s (I was a child, but saw the impact). If I found myself unable to buy my son clothes then I'd get a different car or a different house.

People who are really struggling don't have that option.

Some people deserve a bit of rudeness.
You are, relatively, well off. Bleating about the cost of living crisis while make 130 to 160 thousand pounds is distasteful.

Fritter away less and you'll be able to afford your overpriced AI holidays AND Tarquin and Arabella's mandarin lessons. You don't have a problem here.

@Quitelikeit I would love to downsize!

It's not just frivolous if you were seriously considering booking a holiday at £4400 for a week - when you can't even justify a new pair of boots on £130-160 thousand a year.