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How much do you have in savings?

217 replies

Lasvegas · 04/04/2006 13:00

Saw thread about spending more than £130 on yourself without consulting partner and it shocked me how much DH & I spend on luxuries compared to the rest of you. Him about £400 a week on betting, clothes, eating out and drinking, cabs, presents for me. Me about £100 a week mainly on dinner out, baby sitters and cabs. We are not particularly wealthy just that we spemd just about everything we earn, but we don't have any debts at all except the mortgage. We have a total of 12k in savings which would cover the mortgage for 6 months. If car needed new engine that would be £6K. So 12K not a massive amount. Maybe we should save more given we have 3 kids to support but DH loves to spend on himself and on me and tbh I'm not that worried as we both have good pensions, life assurance, critical health assurance etc. Also bro in law died aged 38 so we both kinds think enjoy life while you can. Is my attitude different to the rest of you? Do you save a proportion of your spare cash each month?

OP posts:
CountessDracula · 05/04/2006 11:58

LOVE the name Issy!

Issyfit · 05/04/2006 11:59

Thanks CD. MI should take the credit though.

oliveoil · 05/04/2006 12:47

I would love to be able to drop the line "and once, on Concorde" into a posting.

Fabulous!

x

catsmother · 05/04/2006 14:03

I agree with Lockets ..... it is not just "high" earners who find the life/work balance difficult to achieve.

Our household income is not high - at all, and we find the life/work balance impossible, never mind difficult to achieve.

DP leaves at 6.30am, gets back 8pm at the earliest (he is "expected" to stay later if required, yet gets no overtime). He spends £400 a month commuting, because we cannot possibly afford to buy a large enough home any where nearer to work. He earns £35k.

As soon as he gets back, and we've eaten, I then start work. I work evenings, and weekends, from home, earning a bloody pittance for a job which required you to have a degree ( I have a 1st BTW). In theory, it is possible to earn the grand sum of £9 per hour but it averages out to £3 an hour - less than the fecking minimum wage, and because I am self-employed there's sod all I can do about it.

During the day I am SAHM to 2 yr old DD, you know, all the housework, knowing she's being looked after by probably the best person to do so, but NEVER a second to myself. I could not, financially, have gone back to my previous job as once the travel & childcare was paid I would have cleared £200pm and we need more than that. There are no equivalent jobs - in either skills or pay anywhere near to where we live. Stupid, naiive me had no idea that once DD was born we'd qualify for zilch towards childcare (as I had done as a single mum). So ..... I work a FULL TIME job during anti-social hours for a fecking awful rate because in our circumstances it is the only way to scarpe the £400 pm extra we need.

I could go on ..... and on ..... and on ....

Savings ? .... you're having a laugh. Pension for me ? Ha ha ha.

We have NO couple time and our relationship is falling apart. We have NO time TOGETHER with our daughter, and the only ME time I ever snatch is a 10 minute shower. Our work pattern is completely destroying us. I feel shattered the whole time as I have so little time to relax.

Please, someone, tell me what I can do ? I am convinced we can't be the only family in this situation, yet as we are not high earners, we have absolutely no scope for more "flexible" working, negotiating a reduction in hours, or whatever. We have already moved as far out as we can to be able to afford a mortgage - compared to some our mortgage may be small but it is crippling us - yet we haven't been extravagant when we bought. In fact, my son now has to travel a round 30 mile trip back to his old school, so we actually made a hell of a lot of compromises. As I said, we wouldn't qualify for any meaningful tax credits as on paper we earn "too much" (irrespective of a large mortgage, large commuting costs and the Child Maintenance Dp pays to his ex). Like me, there are no equivalent jobs round here for DP anywhere near his current salary an/or even in his skill area.

Sorry .... I know I have gone off topic a bit, but it does bemuse me when much, much higher earners grumble about the difficulties they find in achieving life/work balance. If you have more money those difficulties can be more effectively assuaged (affording the welcome break of holidays for a start) ..... for some of us we work just as hard, over just as long hours, maybe even longer ..... FFS, could I work any harder ? I work F/T and every bloody single hour I work is during times which would qualify for overtime/anti-social payments with most employers.

I totally accept that 100s of 1000s of others also work hard ..... but hard work is NOT the sole domain of the high earners, who, when they eventually retire can at least usually look forward to a worthwhile pension and a fun-filled opportunistic retirement.

Yes - I know I sound bitter and that's not nice. Just so damned frustrated.

noddyholder · 05/04/2006 14:22

My health is crap AND I have no savings so I'm really in the s**t

wwwnotreallyhere · 05/04/2006 14:26

catsmother, would you be better off if you rented? We could rent somewhere decent for £850 pcm when to buy the same would cost a min of £1.5k in mortgage.

noddyholder · 05/04/2006 14:29

Do you really believe you can't have a second child on 7k a month.You could stay home and still have a child and live reasonably.The weekly spend is frivolity and you could do without spending it.It doesn't cost that much to have another baby!

SimilarIncome · 05/04/2006 14:31

What FairyMum says is true in our case too. My husband is home by 6.15pm most nights, ready to roll up his sleevs and start the bedtime routine. It's simply not the case that high earners are sacrificing the emotional needs of their family for material gain, to suggest that they are makes me Angry

SimilarIncome · 05/04/2006 14:33

Sorry, that should have said

"It's simply not the case that the majority of high earners are sacrificing the emotional needs of their family for material gain..."

lockets · 05/04/2006 14:35

This reply has been deleted

Message withdrawn at poster's request.

Issyfit · 05/04/2006 14:36

Oliveoil: Once and only once....and it was during a deal from Hell and all I wanted to do was sleep and the flight was too short for that.

Piffle · 05/04/2006 14:38

MY Dp has just taken on a role that will in 6 mths time, provide him with a massive payrise, upper 5 figures at worst.
The cost, working away 5 days a week.
We may have to give up our lovely home in Lincs, to move back down to Hants if it really becomes an issue.
I'm just sick thinking about it tbh.
I'd rather dp take a lesser paying job here, we downsize, but its not practical his skills are so niche.
Money means sod all
And as we are deeparately trying for a 3rd child... the mind boggles

noddyholder · 05/04/2006 14:38

I think that dasd who don't do those things are missing out regardless of what they earn

SimilarIncome · 05/04/2006 14:38

Because it is a sweeping generalisation that paints high earners as greedy and money-driven to the point of 'neglecting' their family.

anteater · 05/04/2006 14:39

But what will that £100K be worth in 20 years Blueshoes?

I would guess not a lot!

As a business man we invest any money not spoken for back in the business's. Pensions are imo a complete waste of £

If you are employed, then after a rainy day fund the mortgage must be the first thing to 'invest' in.

New cars must be thought of as a luxury (£40K car will cost £700 amonth in devaluation!)

wwwnotreallyhere · 05/04/2006 14:40

I know several accountants who earn £100k+ AND make it home early ish (6pm or before).

lockets · 05/04/2006 14:40

This reply has been deleted

Message withdrawn at poster's request.

SimilarIncome · 05/04/2006 14:41

Indeed, wwwnotreally here.

lockets · 05/04/2006 14:46

This reply has been deleted

Message withdrawn at poster's request.

SimilarIncome · 05/04/2006 14:47

Lockets, no. That's not what I was saying. That is not my generalisation, it was one that is bandied about by others.

thewomanwhosnotmeanttobehere · 05/04/2006 14:47

this thread seems to have taken a diversion - an interesting one though. dh is in the city. moved a couple of years ago to full on US bank squeeze every ounce out of you job. hated it. had lunch with his ex boss who asked him what it would take for him to go back. answer: a 4-day week. (plus a job that didn;t include the boring studff that made him leave in the first place). It is absolutely about dimishing returns. we have a nice house, nice car and hice holidays. I absolutely vehemently positively do not want more (as in I actively want not to have more iyswim). Our "wants" and our "can haves" are in balance and we are very lucky. I was talking to a headhunter recently - and he said it is very much on the increase in the city. He sees two city types. the really driven ambitious ones who want the prestige and the dosh at whatever cost. and the ones who have found themselves at a level where their material wants our met, so the only thing that can incentivise them is better conditions - wihc basically means less work.

SimilarIncome · 05/04/2006 14:48

I never said your Husband was neglectful, Lockets. Arghhhhhhhhhhhhhhhhhhhhh !

lockets · 05/04/2006 14:51

This reply has been deleted

Message withdrawn at poster's request.

FairyMum · 05/04/2006 14:55

I think the comments were more directed at some earlier posters who suggested people who worked were only motivated by money money money. Of course your DH is not neglectful. I think various posts just shows how different peoples circumstances are. Noone is neglecting anyone on this thread:)

kingmidas · 05/04/2006 14:56

Mine leaves the house at 7.15 and returns at 19.00 ish each day. Long hours but not excessive. Does manage to get home for the children's bed time, and devotes all weekend to the family (doesn't b*&ger off to play golf / football whatever)

However, I wouldn't mind him being available to attend dd's Pre School end of term Easter event etc and similar (which he rarely is)

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