Anyone else lost a bit of ambition now they’ve been taxed to the brink?

[Peasontoastt]

I used to be extremely ambitious and was really eager to reach some sort of financial security. As a consequence, I’m in what’s considered a highly paid career, I work hard and it took me many years to train.

Just as I paid off my student loan (which took many years), I then had a baby and returned to work to be stuck with the childcare dilemma. I struggled through that phase and have come out the other side but being taxed so much, no child benefit, still paying for nursery even though dd has ‘free’ hours now. It’s likely that savings are going to be bashed next, so what’s the point in even putting anything aside when there’s likely going to be a 4K cap on ISAs.

I used to feel so ambitious and of course I know money isn’t everything, not by a long shot. But having worked my way up the ladder and with huge responsibilities only to feel penalised financially for doing so…what is the point? Yes I have more financial security than someone claiming benefits but equally, I am not being flippant when I say a few years of resting and being at home and being frugal is starting to seem so much more attractive. Has anyone else started feeling this way? I feel taken the piss out of by every financial angle!

Seriously? That’s truly awful advice.

Exactly. That’s all we can do.

This is interesting; what and how could be tackled?

Try that with a disabled child and no help. There are lots of forms of ‘working hard’ - many of them sadly aren’t rewarded with money.

It's a more expensive equivalent of avocados on toast. None of us Millennials could afford to get on the property ladder because we frittered our money away on lattes.
In reality luxury things are cheaper than they were. But you get used to luxuries (holidays etc) very quickly and take them for granted. Whereas things that actually make people feel well of long term- housing etc is more expensive. So people that can never afford the simple family home their parents had st that age feel understandable resentment. But even people with a lovely house feel oppressed by their mortgage. The holidays don't seem that expensive in comparison. And if they had to give up a holiday because times were tighter/taxes rose that would feel deeply unjust.

To me it just seems obvious - everyone take one less holiday a year so the disabled don't starve. We have a real and increasing number of genuinely disabled people and increasing healthcare costs for an increasingly ill population. Surely finding a way to divert a small amount of this money would make sense.

You come up with excuses why people can't unskill or work more hours yet demonise a poster who has a supportive partner abd us no drain.

You can do any of the above and it is of no concern. What is the problem is when you have a begging bowl out directed at the tax payer.

No, they were responding to a comment that the person in question would up their hours if their DH no longer supported them financially. That’s exactly what many mums that I know have done when they have separated from their DC’s father. Most of them use before and after school care to facilitate it. It really isn’t that unusual.

YANBU

With fiscal drag etc, we're not far from the minimum wage being in the higher tax bracket

If PP did not have her DH, she would have a "begging bowl" too.

This was for @WunTooThree about the housing aspect of Universal Credit! What and how could be tackled?

No, they didn’t. That’s Z common misconception. There was no magic money pot they paid into that was invested for them to draw on later. Today’s tax and NO contributions are paying yhd state pension.

Come 2070 that population with have grown to 25%. And the cost of adult social care and health care for over pension age is also currently around 50% of the healthcare and adult social care bills - unless we tackle the reality that we are an aging population and having fewer kids we as a country are going to be in a huge amount of trouble.

I wholly agree with everything else you’ve said but I’m sick to death of being called a drain though whilst pensioners are a sacred cow.

Ah sorry. I have no idea. I do know that a lot of UC payment is on housing element.

What is the solution? More social housing? Probably.

If she chose her partner well who says she wouldn't be resourceful career wise, have investments, insurance in place.

Oh boo hoo. You earn too much to be able to get child benefit. Try worrying about how you're going to pay for your food shopping or your rent. Whether you can get new uniform for your child or take them for a single day out in the holidays.

But she is berating people for not "choosing their partner well".

Before and after school clubs aren’t as widespread as mang yhink and frequently isn’t suitable for kids with disabilities.

You either rely on your own job, your partner or private income. Each person should be responsible for themselves and not the tax payer.

And do you know that the poster in question doesn’t have access to before and after school care, or that her DC are disabled?

There is a welfare system for people who rely on it though.

Ah I see! Yes agree but I am one of those who through no fault of my own has found themselves in receipt of UC specifically for housing costs. Rightly so I am not eligible for other UC but if the housing element was stopped I don’t know what I would do.

I am looking for a role that pays more and am already full time, got rid of my car etc but is a bloody nightmare situation that I really would rather not be in… even social housing wouldnt help me. Whilst grateful my financial position is very precarious.

Just to add though. I cannot quite understand how I am in this position. I have worked hard, prgressed, saved etc etc - I did not expect to be in this situation whatsoever.

I know. Sorry. My point really was that everyone's a drain at some point in their lives. Some of my favourite old people (in my life) almost certainly didn't pay as much in tax wise as they are now "taking" from the system in terms of healthcare etc. But they did maleke a massive difference to my life and countless other people's lives whose taxes are now supporting them. Which seems fairer than making them jump of cliffs like vikings. I just also think we should support the next generation (and other groups) as well.

What is going to happen before 1970 though is trillions and trillions are going to pass to some of the people working now. And that's going to increase the divide just as the next cohort get too old to work. Their needs to be some thought about how to navigate that or there.is going to be more resentment and instability.

Well, PP will be sitting at home in her PT role that is funded by her DH, and telling you that you need to work more hours, even if it kills you. Work sets us free.

I agree, but it would be political cryptonite. There were Americans interviewed just before the US election who said they were voting for Trump because of how hard life was now. The example given was they had to choose between cutting down down on how many trips they took that year, or not paying for their children's ballet lessons. And how the elites in Washington don't care about ordinary working families that are struggling. Compared to lots of poorer Americans (many of whom also voted Trump) they were the elites. But no-one actually feels like that.