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?

I don't have much savings, no. But last year I did. I bought a wet room with savings, and also used them a few years ago for a family holiday to DLP.

I need to replenish them again which does take time.

For others, no it isn't possible to save when you're just surviving every month. Not everyone is born into fortunate circumstances.

But life is for living. If you get hit by a bus next week at least you used your savings to enjoy yourself on a luxury holiday first🤷‍♀️

Privilege should be shamed, if it’s coupled with wilful ignorance.

I’m not shocked by this but it’s because I’ve learnt from meeting various people in life that just because people appear a certain way, doesn’t mean it’s true.

I know people that live pay day to pay day and don’t do anything outrageous, it’s just the cost of their living.

An old boss of mine built their own house in the country, every mod con going, expensive tropical holidays and top of the range car. I was shocked that they admitted that they had zilch in savings. Not even £1k!

I know one old chap who hoards cash in his council house so it doesn’t affect his pension credit.

My only gripe is people that plead poverty but recklessly spend their money, but that’s because of my own negative experiences with people like this.

I do think the benefits system penalties saving and standing on your own 2 feet. My friend lost her job through no fault of her own and had just bought a house as a single person. She would have been far better off with no savings and no house of her own..not saying people shouldn't fund their own unemployment through savings but it hardly encourages people to stand on their own two feet.

And she did go on holiday a couple of times when she was unemployed, and I didn't blame her as she only saw it as a way to get her savings down to the point of eligibility flr benefits. System needs to change.

100% this. Life is for living not having money in the bank and no lived experience.

My grandad wouldn’t put his heating on and lived on beans on toast m. He never left the UK and rarely ventured further than the pub at the top over his road - he died in 1985 with almost a million £ he squirrelled away fur a rainy day that never arrived.

Id rather die a pauper with amazing memories

But isn't it possible to work your way to a better tomorrow, barring health issues?

You’ve never been a pauper though, have you?

Some people can’t afford to save anything.

Some people could but have different priorities.

I assume OP is referring to the second type of people, who maybe have flashier cars and designer clothes, vs the person who spends modestly in order to save.

In the OPs defence I agree that we should talk about that. I spend too much often, and should save more, invest more etc. Societal pressure and social media and so on do sell you a dream of a life to attain for, which maybe promotes YOLO spending in a way that prevents many people from saving. The issues will and are arising from that as the population ages and birth rates fall. But at the same time spending drives the economy….

It’s a complex and interesting discussion. Easy to just shut it down and name call though!

Some of us are eating leftovers so our kids can eat and haven’t had central heating oil in months hope that helps you understand.

We all should have savings but not everyone can afford to OR we have some money saved and spend it and are back to square one…

You’re saying that as if 1. there are millions of high earning jobs out there and 2. The country/society wouldn’t complete collapse without minimum wage workers.

The system is set up the way it is , because of 2.

I don’t understand this attitude. You’d rather keep accepting benefits than save more so you don’t need them.

You don’t believe people are on the breadline with no surplus money? How would you put £100 away if you had no spare income after paying for food and shelter?

Again but surely throughout life, schooling, education people don't plan to make NNW their entire life. Maybe something happens that throws them a curve ball, maybe they get ill, or their DP leaves or their kids have health issues.

I think that’s an awful attitude. Im one of the people on this thread who has said Ive never had savings when I could have afforded to save and during times when I couldn’t afford to, but I have never expected, or received, state support. The only ‘benefit’ I can ever remember receiving in my adult life before I retired was getting free prescriptions for five years when I was having cancer treatment and free dental treatment for a year when I had my daughter. We had debts for most of our life, either because we spent the money we had or because we didn’t have enough money to make ends meet and couldn’t have saved if we’d wanted to, but if the level of debt had ever become unmanageable then we always accepted that we would have to move house and downsize and would not have relied on state handouts.

No because I’ve worked since I was 18 years old but I’ve spent money on living life not saving for a rainy day.

Op maybe you could give 100 people £100 savings from your buffer? You might sleep easier

Good for you. But however hard you've worked to get what you have, it's a guarantee some people will have worked just as hard and still be on the bones of their arses. It's graceless imo not to acknowledge that for most people luck, alongside hard work, does play a part.

They're on UC and going on holidays? As in it's not someone else paying for them, they are using benefits to go on holidays?

Of course luck plays a part - I've had plenty of failed projects along side the good ones. But as they say the harder I've worked the luckier I've got.

Exactly this.

The balance isn't there, I only have the extra money due to the UC which racks up. It's higher than my wages the UC, I can't just switch to wages when that is only 40% of my monthly income?