How are people managing to pay the bills in this shit show

[Allthenameshavegone1972]

My daughter, fiance & dgs moved into their small, rented house nearly 3 years ago. Finding it a big struggle every month with the rent being £860. We, & her in-laws are guarantors for their rent.
I've found out her fiance has asked to borrow money for rent from his mum & for the second time my daughter has asked to borrow as he has not had the overtime. They obviously can't afford it. Both trying to get pay rises but it's hard in this day & age.
At the grand old age of 60 I was hoping to take a break from my office job, which I hate, for a few months and then go temping or work part time. We can afford for me to do that. If, on the other hand, I'm working full time then we can afford to be guarantors for their rent. Cant win either way!
She wishes theyd never rented now. They were living with her inlaws who have the space for them. She wishes she'd saved that rental money for a deposit instead. Their only option is to go back living with them, or all us parents carry-on working til we drop to pay for their rent. At 60 years old we should not have the pressure of working til we drop to pay for our adult dc's rent. We're not going to be in the best of health to work forever as we get older.
My dd is despairing, saying that she can't see life getting any better. I agree, unless us parents die relatively young without needing a care home and they inherit from us.
This shit show of a housing & col crisis is at breaking point, something had to be done, but I don't know what! 😡😡

What cars did they finance ?

They can afford it they just can’t manage their money properly

min wage is 11.44 an hour soon to go up

that’s at least 1700 each a month take home

they should have 2500 left - where is that going

What do you think the issue is then, OP?

Rooms in a shared house are between 600 and 900 around here depending on location so that rent seems very cheap and I would expect a couple to be able to afford it.

So where is their money going?

They have modest rent, no childcare fees and they both work - presumably full-time as you've not said otherwise. Even if they're both on minimum wage, they'd have a take-home of over 3k plus child benefit and potentially help towards their rent.

After rent, where's the other 2k of their income going?

We were paying that in our first house together 12 years ago. It’s very low rent. The answer is we both earned about £1200-1500 per month and we paid our rent from that, and had some leftover. When we had dd and needed childcare, my salary just about covered the £1000 a month with £200 leftover. We lived frugally and Dh started a business to earn more. Both our salaries are significantly higher now and we saved for a deposit, but it took us a decade of saving to buy our first house.

I honestly think they’ve been a bit hasty with renting a house. They should’ve stayed with the in-laws and saved up for a deposit and see if the in-laws and you guys could contribute anything towards the deposit to help them along. People seem to have children first and worry about buying a house later but find themselves stuck renting and unable get out of it. But as PP have said, that rent isn’t particularly high and perhaps they could sit and write down all their outgoings and see where they could try and reduce spending

How did you not know op. And write that post about your daughter despairing, life not getting better about you having to work till you drop to pay their rent, about how it was about him not getting overtime, how they’d have to move in with their in-laws.

did no part of you think they are clearing three and a half grand a month and being economical with the truth to get money??

They can’t even pay their rent. How would they cope with a mortgage!

I sympathise. I am subsidising the rent for two adult children who work long hours. Contrary to popular belief about young people, they don’t eat out, go on holidays or eat ‘avocado on toast’.

I was having an argument with chatGTP this morning about housing. I got it to admit there was no hope and that the housing crisis will only get worse. Here are the stats:

Current deficit of housing units stands at 4.3 million
New (potential) households are formed at a rate of 600k per year(this includes impact of migration)
Current building rate is 200k units per year.
Building rate deficit is arounf 400k units a year which means that in ten years’ time we will be short of around 8 million homes.

chatGTP thought that this would trigger social unrest, the return of slum conditions and the emergence of shanty towns.

Our young people are looking at a life time of indentured servitude to the nation, paying taxes through the nose but unlikely to have normal experiences like home ownership and being able to have children.

I wish young people would wake up and protest this situation, rather than protesting foreign wars and climate change.

OP you daughter must be telling porkies. Even both earning min wage they should be able to afford £900 rent a month. That’s fairly cheap

If they working full time I'd be asking if they have debts as that's really cheap rent and I'm the Midlands and it's not expensive rent compared to London but you looking over 1k for a month rent for basic terrace house... Are they buying just food, paying bills and rent... Can they get UC or any other benefits. Citizen advice maybe

Maybe they are paying off debt?
Could one of them lift share?
It's too bad we all insist on our own car.

If both are working full time with no childcare costs then they are bad with money.
rent
council tax
utilities
insurance
petrol
food
car repairs/tax
tv licence
mobile phone
dental plan
prescription charges

cant see how that can’t be paid for on two full time salaries.

Mortgages are often cheaper than renting.

Chat gpt isn’t a person, it does not admit or argue. 💐

Tattoos, nails ,expensive phone contracts, take away coffees, gym fees, false eyelashes, Audi car payments? Their money is being wasted somewhere. If they’re lived with the boyfriend’s parents then they really should have had at least 10k saved per year of living there ? Some people are bad with money but of course it’s always the economy’s
Most of us survive by getting an education when we don’t have any dependants, buying a house and having children when we have some savings in the bank. Stick to the expected order and you’ll stand a better than average chance of being ok.

You should let your children live with you while they save up for a deposit ?

Doesn't matter what kind of talk or forensic examination is done re their finances and choices, if they don't economise somewhere you either sub them, or they default on the rent and you have to pay anyway as guarantor.

Isn't that correct?

That's cheap rent these days. And a couple?

Very similar here. We have a great car that thankfully with being careful and having a friend who owns his own garage so he has always given us great advice and helped keep our second hand cars in good condition.
It's lovely not having a monthly car payment.
We do have a savings pot for just incase this car gives up.
But again we will just get another second hand car.

Who is going to give this couple a mortgage? They can't have any savings?
My mortgage is less than their rent but my deposit was around 60k ten years ago.

It’s due to having bad credit and/or debt.

That's why people are saying they should have stayed with the boyfriend's parents to save up, rather than renting. They could have then got a cheaper mortgage.

Let me guess, they had to have fancy cars?