To be shocked when adults have absolutely no savings at all?

[ThisJollyReader]

I’m going to be honest, I find it quite hard to understand when adults have no savings at all. Not even £100 put away. I’m not talking about people going through a temporary rough patch but just having nothing set aside whatsoever. Personally, I try to keep around £10k as a buffer (I know everyone’s situation is different), but even putting that aside, I would still feel uncomfortable having nothing at all.

AIBU to feel like having at least something put away is important or am I being too harsh?

You are easily shocked and a bit goady.

What is it with all these goady threads?

You are being too harsh. If you’re living on the breadline it can be impossible to save. I live off of my credit card for the last week of the month before my and my husband’s wage comes in!

👇

🙄

A sweet tea and a lie down is good for shock.

You’re being too harsh. There are many people on the poverty line in this country who cannot even pay their bills, let alone put money aside. It’s not a temporary thing for many people, it’s their life.

Be grateful you don’t understand - of course it’s important to have a buffer but it isn’t realistic for many people.

Genuine question- had it not occurred to you that savings aren’t static and that even if you have them at one point they need to be spent or relied on at another point?

life is long- surely it’s not a surprise to you that people emerge from unemployment, divorce, house move etc. Having exhausted savings which even for well earning people can take years to build back up?

Oh gosh yeah, I also can’t fathom how people can sleep at night if they don’t have at least a couple of spare houses stashed away, just in case.

I’d say you are easily shocked and probably a bit hard-of-thinking to boot.

Still, recognition is the first step on the road to change.

Only £10k? wow. That won’t get you very far really, I budget for double that and then some.

shocking.

You’re right that having no savings puts you in a precarious position but goady and wrong to post about being shocked- it’s pretty obvious that some people are struggling to clear debt, never mind have £10K in the bank.

That’s ridiculous thinking. Lots of people don’t have the money to save. There is no ‘spare’ cash. I manage to save a bit now and then, but then there’s always a crisis to pay for so it’s gone again. Please don’t assume everyone has the capacity to save.

Surely nobody is this lacking of critical thinking?

Is it AI?

I get that savings go up and down over time and that life events can wipe them out. I was more referring to people who don’t have anything set aside at all on a ongoing basis, rather than people who’ve had to use their savings due to circumstances.

It's good you can save.

I am in a better position now, but I had a number of years where I just about covered my bills and food, but didn't have any savings at all. In fact I was overdrawn a lot of the time.

You play the hand life deals you.

Many people would be happy to get to the end of the month without being in their overdraft.

I’m not sure I’m meant to save when my money runs out a week before payday…..

In principle, I understand what you’re saying. I’ve known people who had credit card debt and no savings due to overspending on designer clothes, for example, that’s daft.

But that’s completely different to struggling to pay your basic bills and therefore being unable to save up a buffer. Many people are really struggling with the COL atm.

But how do you know whether you know the intimate details of their finances at a time they’re are recovering from the wipe out or not?

how do you know the intimate details of their finances 20 years ago, or enough to guess where they’ll be in another 20?

Lots of people have no savings.
Some people on here will have no savings.
This post may make them feel less than as you look upon them in disbelief/derision about their situation.

She’s clearly a pauper, darling. Probably shops at Lidl and doesn’t even extend the pinky when sipping tea from the Wedgwood china.

I understand if they have kids, have had health issues or had to support a DP with health issues or have had to care for relatives.

But like the average person who's had a normal life and worked? Yes.

If you’re able to save, and maintain, savings of 10k the you’re extremely LUCKY in your life circumstances.

Some people are less lucky, and do not have the option to achieve this. It’s not as simple as discipline or budgeting.

Having been in a financially abusive relationship and now as a divorced single parent who had to spend every spare penny to buy a suitable house for my children and I to live in, I have nothing in savings.

You can't have every been through tough times financially if you can't understand how people don't have at least £10k in savings. I would love a £10k buffer, even £1k would be nice but it's just not realistic at the moment. So many people live on the breadline, life is very expensive nowadays and a lot of people's wages haven't increased at the same rate as living costs.

Flesh coloured scrunchbum leggings shock me.
That we have an idiot running the free world also.

The idea that some people do not have the means or inclination to save - not so much.

I advise a wee dram of Whiskey and a little
sir down in a peaceful place to overcome your trauma OP. Make it Malt and you might need to draw on those savings of yours.