Millions have saving of less than £100
Discussion
TheLordJohn said:
paulrockliffe said:
Similarly, if you track your finances using software, getting as many transactions onto your bank statement as possible, rather than undocumented cash, makes that much easier and more accurate.
Are you on crack? When I withdraw £100, my account shows £100 less than it used to...As oppose to when my mrs spends £150 on my debit card and it takes 3 days to show up on my online banking.
I'll concede that if you need a daily reconciliation you'd be better off recording your cash spending than looking at a bank statement. but then you'd be better off looking at what your receipts say rather than the cash withdrawal on your bank statement. Not all withdrawals appear same day for me though, so that isn't necessarily more accurate on a daily reconciliation.
If you can cope with a monthly reconciliation a few days after the end of the month then a statement that says, "Greggs £1.80" is far more useful than one that says, "Cash £100". You either don't record what that was spent on or it's a pain in the backside to reconcile to another set of records that you're holding.
My mum, who is now 89. and has been living off pensions for high on 30 years has managed to accrue
£6000+.
That's £17 per week averaged over 30 years.
Mind you she was brought up during rationing, Spitfires v Smartphones. I still have arguments with her over less than £1 .......
Perhaps we need a WWIII to get us back to reality?
£6000+.
That's £17 per week averaged over 30 years.
Mind you she was brought up during rationing, Spitfires v Smartphones. I still have arguments with her over less than £1 .......
Perhaps we need a WWIII to get us back to reality?
TheLordJohn said:
paulrockliffe said:
Similarly, if you track your finances using software, getting as many transactions onto your bank statement as possible, rather than undocumented cash, makes that much easier and more accurate.
Are you on crack? When I withdraw £100, my account shows £100 less than it used to...As oppose to when my mrs spends £150 on my debit card and it takes 3 days to show up on my online banking.
What bank are you?
Willy Nilly said:
If poverty is classed as having 60% of median income, then the remaining 40% will always be classed as being in poverty no matter how much money they have.
I think you've misunderstood the maths. The median income is the amount of money that 50% of the people earn either side of. If you take 60% of that amount of money, some proportion of the population will earn less than it, but without knowing the frequency distribution of income, you can't say what proportion.
"Relative poverty" is just rebranding "inequality" in a way that sidesteps the debate about whether it is inherently problematic or not (which is a political position). It's a form of begging the question.
z4RRSchris said:
5% pension from work. Don't pay in myself
I spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if s
t hit the fan
You sound like you have a good time. I'm similar age...ish, same line of work, same city, trying to make myself spend more and worry about a rainy day less. Teach me the way to enlightenmentI spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if s
t hit the fan Edited by z4RRSchris on Friday 30th September 19:22
freenote said:
z4RRSchris said:
5% pension from work. Don't pay in myself
I spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if st hit the fan
You sound like you have a good time. I'm similar age...ish, same line of work, same city, trying to make myself spend more and worry about a rainy day less. Teach me the way to enlightenmentI spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if s
t hit the fan http://www.imdb.com/title/tt0182442/
Extension work source:
HTH
freenote said:
z4RRSchris said:
5% pension from work. Don't pay in myself
I spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if st hit the fan
You sound like you have a good time. I'm similar age...ish, same line of work, same city, trying to make myself spend more and worry about a rainy day less. Teach me the way to enlightenmentI spunk it on rent, cars, food, holidays, clothes watches taxis booze and the girlfriend
I could sell some of my material goods if I really wanted to if s
t hit the fan Edited by z4RRSchris on Friday 30th September 19:22
It's important to have fun now, but from the sounds of it Z4RRSchris is too far on the spend side to balance the best now with the future. Which is perfectly fine for him to do as it's his money (assuming the rest of us don't have to bail him out later if he ends up jobless with no savings)!
TheLordJohn said:
In my experience, those who prefer to pay for everything on card tend to have a lot less control over, and be more blasé, with their money.
Those who use cash more than card, tend to look after their money better.
I'd be interested in the size of the evidence base behind this statement. Those who use cash more than card, tend to look after their money better.
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