To believe that some people stay broke because they don’t want to make sacrifices?

[ForSharpBrickKoala]

It’s hard to save money but isn’t it true that a lot of people could improve their financial situation if they made different choices? AIBU to think it’s not always about the system?

We quite easily spend between £8000 & £10,000 a year on holidays, if we didn’t spend that on what we enjoy I’m sure we’d spend it on something else 🤣

A bank account paying 4%? Where does this exist? My current account pays less than 1%, in common with many others.

I think personal experience and observation both play a role in shaping opinions and I’m always open to different perspectives. I’ve seen how financial struggles can impact people in different ways - some make sacrifices and find a way to improve their situation, while others stay stuck due to circumstances, mindset, or systemic barriers.

That said, I know poverty is complex and I don’t think there’s a one size fits all answer.

Living rurally is a majorly false economy, it's always more expensive.

Virgin is 4.65% for the next tax year (down from 5.25%), there are lesser known banks that pay more. But for savings, don't leave money in your current.

Halifax have a regular saver which is 5.5% but you can't withdraw for a year.

yes, i am EU and Eastern EU. My salary was 200 euros ages ago. Never saved amazing amount. Then came as aupaur. Never saved amazing. Married a British man who has a job which gives and keeps on giving. Started a job now and for the first in my entire life saved a little bit.

Yes, I absolutely do. I honestly don’t think there’s an issue with making do either. It’s more the bizarre juxtaposition. People have very different value systems. Although it is rather vulgar to think that any one who could afford a car costing 100k wouldn’t want to contribute significantly to their under-funded school. But that’s a good example of how people differ in terms of attitudes to money.

Yeah, but you didn’t actually answer the question though 😂

Have you formed your opinions by living through poverty yourself or by observing some poor people?

They are keeping the generational wealth away from you by making you think you are NOT GOOD ENOUGH to experience it.

its bollocks. The system is set against you.

I earn lots, I save lots. My children will have more generational wealth than I did.

the system is still against me, and against them.

lolz at the idea that buying trainers or avocados or a house or Range Rover makes you a rich person. What a load of boot lickers on this thread

and now we really see the legacy of 14 years of Tory rule. People actually believe it

@WaneyEdge marcus instant access savings 4.35%

That would work if you never had any unexpected things to pay for but life's not really like that

I don't know what you are trying to say with that comment, but some people live in areas with decent state schools so they don't need to pay for private schools. In such areas you will see posh cars.

It's not about priorities.

We could have afforded private school but we didn't. We didn't need to because of having good state schools locally (but were they "good" or did they have a "good" intake - discuss) but also chose not to due to fears about job security.

I don't know if it's still the case but before the 2008 credit crunch I did have the impression that a lot of people were living on credit to fund their lifestyles. Now I suspect that credit is needed to make ends meet.

I ran a facebook group during covid, I had a lady who really engaged and took a lot of comfort in the group. She messaged me privately to ask to run a crafting session she clearly had learning difficulties, lived alone, spoke about her abusive parents, albeit she still relied on them in some ways and just struggled with life. She couldnt work, she didn't have the support in her upringing to be able to overcome her challenges.

I tend to think that to be successful to any degree in life you need at least one of these things, good family, good intelligence, good looks, good physicality, good personality. Some people sadly have not one of these things. And you need at least one of them to get on in life. If you have more than one you will do ok. Have them all and life is peachy. Have none or one and things are tough

I think that often we make choices that cost us. Also the poverty trap is very real and that scrabbling for pennies sort of prevents you considering the bigger picture.

I do think a lot of people use substances to escape from life. The take away coffee, pack of cigarettes, booze, drugs. Pick your poison.

I live within walking distance of 90% of my family, born and raised here so you could be right, but in addition I need a car to actually do my job too. I am fortunate that things have improved for me but it doesn’t mean I have forgotten how many many people live. And for me it certainly was not lack of education.

The answer is yes and no, as with a lot of things.

I once got asked how we afforded to go to a West End Theatre as a family a couple of times a year. One possible answer to the person that asked would have been "by not taking the package holiday abroad you do every year." In fact we could probably go monthly and still be quids in.

Often things are a choice. You can afford to do X which you'd like to do, or you can afford to do Y which you also want to do, but not both.

But the poverty trap is a big thing. For example, the tyre goes on the car. You buy the cheapest tyre at £60. You'll need to replace it again within a year, and that's assuming it doesn't puncture again because being a cheap one, it's both more likely to puncture and if it does puncture more likely to need a new one.
If you could have afforded it, you can pay for the £100 tyre which lasts three years and is less likely to puncture etc.
Or you need more washing powder. You only have £2 to spend on it, so you have to buy the small packet, because you can't afford the packet that's three times the size but only double the price.
And your oven goes wrong. You know it's really getting to the stage that it needs replacing but you can't afford a new one. So you keep getting it repaired at £100 a shot. A new one cost £300 but you don't have that money at any point when it goes wrong. Your neighbour knew hers was going wrong, so she bought one in the 50% off sale before it broke.
It is more expensive to not have money.

If you are struggling for money you can save buy eating cheaply, home repairs, never getting little treats etc. And I'll guess most people have at times had something they're saving up for where they have done that sort of thing. But it's different doing it for a short time, than doing it with no near hope that you will get out of the situation.
I could live off baked potato and butter for a week. I'd be pretty bored with it after a fortnight, after a month I'd be longing for something different and more tasty. If you're trapped with little money, you're looking at doing that for months, possibly years before you could relax, so it feels pointless.

It says ‘some people’. That’s not a sweeping statement.

Of course some people are broke because they buy what they want, when they want and end up with no savings/ debt.

I am sure most, if not all us, know someone like this.

OMG @ForSharpBrickKoala your crass stupidity and privilege are showing.

what a dick!

My perspective is based on a mix of observation and personal experiences with financial struggles, though I wouldn’t claim to have lived through extreme poverty. I understand that lived experience brings a different level of insight and I don’t pretend to know what it’s like for everyone.

You might not get rich but you definitely get comfortable.

But of course, you have to earn a decent amount to save a decent amount in the first place.

Life is much less stressful with a year's income in the bank.

Im unlikely to be on my death bed and think oh I'm so glad I never bought a takeaway coffee and a lemon muffin. But then I'm a massive risk taking hedonist.

You’re taking crap. How are they creating £20k a year (for which you’d have to earn, £45k gross) by not buying £150 trainers? Give your head a wobble

@MargaretThursday
I totally agree🙂

People make decisions around their priorities too. For instance I could have more money if I worked longer hours or took a second job but time, for me, is more valuable than more money. I want to be able to do what I want with my time and live not just work for someone else's benefit.