Where does your income go?

Where does your income go?

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Discussion

The Selfish Gene

5,535 posts

212 months

Thursday 4th October 2018
quotequote all
mikeiow said:
The Selfish Gene said:
fair play to you Frank - I'm totally biased but I hate Uber, and fwiw think it's outrageous they've been allowed to continue in London.
A bit off topic now, but I’m curious why you hate them.

I get that their business model puts a lot of noses out of joint...but I like the fact that if I (or my daughter!) get on one, we know the car, we know where it is, the driver may have ratings. No cash is needed, things are tracked. It is the modern way to use taxis: even our local companies in Leicester have started using apps.
I see also that they are now considered (by at least one judge!) to be “fit and proper” - https://www.bbc.co.uk/news/business-44612837
I haven’t used them a massive amount, but each experience has been very civil and polite, timely, and reasonably priced.

I have posted about it before Mike - and I've been accused of everything from racism to being a black cabbie (i'm neither)

1. google the amount of sexual assaults carried out by Uber drivers in London
2. google the tech they used to hide criminal behaviour previously (and one of the reasons the licence is under debate)
3. the standard of driving is atrocious in London, frankly they're dangerous (based on motorbike every day through central London, and how they stop, Uturn, lift and coast)

the only thing they do - is provide cheap transport, but at what cost?

Certainly never let your daughter take one alone ever, even during the day.



EddieSteadyGo

12,287 posts

205 months

Thursday 4th October 2018
quotequote all
The Selfish Gene said:
I have posted about it before Mike - and I've been accused of everything from racism to being a black cabbie (i'm neither)

1. google the amount of sexual assaults carried out by Uber drivers in London
2. google the tech they used to hide criminal behaviour previously (and one of the reasons the licence is under debate)
3. the standard of driving is atrocious in London, frankly they're dangerous (based on motorbike every day through central London, and how they stop, Uturn, lift and coast)

the only thing they do - is provide cheap transport, but at what cost?

Certainly never let your daughter take one alone ever, even during the day.
Uber isn't perfect but in my opinion the risk of a sexual assault on Uber isn't materially higher vs a mini-cab or black cab.

https://www.channel4.com/news/factcheck/factcheck-...

They do though need to comply with the rules - sometimes I get the sense they like to act as if they are still a start-up, rather than one of the most valuable companies in the world.

Frank7

6,619 posts

89 months

Thursday 4th October 2018
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keirik said:
At least with uber they'll take you where you want to go, whereas a black cab won't let you in the car until they know your destination "sorry mate, not going card of the river" even though thats illegal
The old ones are the best, what’ll it be next week, Blackpool landladies? Irish are all drunks.? Scots are all miserly?
I think you meant south, not card, and I’d be lying if I said that it had never happened, it did happen, but rarely if ever does it happen nowadays.
If you’ve not been allowed to get in until you’ve stated a destination, then you’ve been singularly unfortunate IMO, when I was out there, sometimes a job would say, “Waterloo Station please”, while standing at the f/n/s window, sometimes they’d get in, sit down, and say, “Angel, Islington please.”
Didn’t make no never mind to me where they went, I took anyone, anywhere, the meter went round, they paid on arrival, that’s how I earned a living.
As for legalities, you don’t HAVE to stop for anyone, if someone hails you, and your years of doing the job gives you a bad vibe about the person, just nudge the gas.
Likewise, if you’re on a rank, and someone virtually carries someone half pi*sed to your cab, and says, “Take him/her to Camden”, you can just say, “No thanks”, and be perfectly legal.

K50 DEL

9,275 posts

230 months

Thursday 4th October 2018
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gazapc said:
I'm sad enough to download my bank statement, assign each payment a category (e.g. food, car, holiday), then throw it through some Excel pivot tables to give monthly spend tracking. Been doing this for 5+ years now with 4500+ individual line items. Once set up, it only takes 10 mins every month to do.

Averaging over the last year, monthly:
£525 mortgage
£200 Food
£110 utilities, mobile, internet (includes outright purchase of £300 phone)
£110 on train commute
£110 council tax
£350 on car costs + fuel (also includes some one off restoration costs on classic)
£300 on holidays (obviously lumpy spends throughout year)
£100 cash per month (mostly pub I imagine)
£270 on other assorted stuff e.g house & life insurance, house maintenance, clothes, birthday presents etc..

Leaves a few hundred left over every month. Have a healthy emergency fund. Building up some funds in a S&S ISA.

Money I never see:
£175 + £350 employer contribution going into work pension.
IIRC, £165ish going into student loan repayments

Being 28 I don't see myself as doing too badly, not rolling it in but not exactly just getting by. Interestingly my take home pay has essentially doubled since I started the spreadsheet!
And I'm sad enough to want to do that... any chance of a template lol

okgo

38,463 posts

200 months

Thursday 4th October 2018
quotequote all
Frank7 said:
The old ones are the best, what’ll it be next week, Blackpool landladies? Irish are all drunks.? Scots are all miserly?
I think you meant south, not card, and I’d be lying if I said that it had never happened, it did happen, but rarely if ever does it happen nowadays.
If you’ve not been allowed to get in until you’ve stated a destination, then you’ve been singularly unfortunate IMO, when I was out there, sometimes a job would say, “Waterloo Station please”, while standing at the f/n/s window, sometimes they’d get in, sit down, and say, “Angel, Islington please.”
Didn’t make no never mind to me where they went, I took anyone, anywhere, the meter went round, they paid on arrival, that’s how I earned a living.
As for legalities, you don’t HAVE to stop for anyone, if someone hails you, and your years of doing the job gives you a bad vibe about the person, just nudge the gas.
Likewise, if you’re on a rank, and someone virtually carries someone half pi*sed to your cab, and says, “Take him/her to Camden”, you can just say, “No thanks”, and be perfectly legal.
It happens all the time. Probably I have this sort of issue 2 or 3 times a week

Also the amount of cabbies that take the total piss with their card machines is a joke. Again 2 or 3 times a week I encounter one that is 'broken' - the story soon changes when I refuse to pay.


That said there are mostly good ones out there that hate the types that do the above.

The Selfish Gene

5,535 posts

212 months

Thursday 4th October 2018
quotequote all
keirik said:
At least with uber they'll take you where you want to go, whereas a black cab won't let you in the car until they know your destination "sorry mate, not going card of the river" even though thats illegal
will they?

What about all the times they cancel on a person whilst they're waiting because they're aware that there is a x multiplier coming?



Billy.RS

82 posts

71 months

Thursday 4th October 2018
quotequote all
Having a good spreadsheet is the key to watching your finances. I spent a good 10/15 mins a day jiggling mine around seeing where I can move money/what works/seeing how far this months salary is going to stretch LOL biggrin

But I have to do this at the moment, as my salary is not the best. I'm due a somewhat big spike in pay once I qualify soon from my exams (Autumn '19).
Background info; 21 Living at home with single parent, currently cutting ties with my project cars, working locally (South East) commuting by car, 10K miles a year, a little bit of CC debt but nothing huge. How it pans out is like this:

INCOME - £1,360.39 pm
-Living expenses:
Housekeeping 150.00
Phone, Netflix, Spotify 51.00
Gym 35.00
Work Lunches/Food/Necessities 70.00
Barbers (twice a month) 32.00
-Car:
Fuel, Bus Fares & the odd Taxi 170.00
Car Tax (MK1 MX5) 21.44
Coilover Finance (regret this) 52.34
Insurance (paid annually) 0.00
Car Emergency Fund (Consumables) 20.00
-Out-Out:
1 Booze-y night out a month 100.00
Date nights, Days out, etc 160.00
Minimum CC repayments 6.00
-Saving:
S&S ISA 50.00
Pension contribution 35.00
Travelling/Holiday Fund 100.00
Christmas (yep I save monthly for that!) 15.00

Which leaves a tad under £300 pm on the table for me, which I've been using for the past 6 months to clear my credit card debts (A few concerts and a slight splurge on clothes), and to save cash for a new car (R50 Cooper). Will re-evaluate this probably after Christmas so I can maximise savings, which will probably involve upping the ISA & Pension contributions, and leaving myself a rainy-day fund
Savings are currently £4.5K in the S&S ISA, about £200 in the Holiday kitty (not long come back), and £2K in cash ready to drop on the new car. I'll recoup this, and more hopefully, once the projects are out of the picture.

I'm far from doing 'well' I know, but some of my friends earning almost double save little or less and have larger debts, so I train myself not to panic too much about things especially whilst my salary isn't at its best. Next goal really is to get on the property ladder, giving myself just 8 years to do it in (before 30 would be nice). I know things will work out, just difficult to vision sometimes smile

EddieSteadyGo

12,287 posts

205 months

Thursday 4th October 2018
quotequote all
The Selfish Gene said:
will they?

What about all the times they cancel on a person whilst they're waiting because they're aware that there is a x multiplier coming?
If they really knew a period of surge pricing was coming, they wouldn't make themselves available on the app.

I'm not saying your scenario couldn't happen, but it isn't an obvious problem as far as I have seen.

The ones I speak seem happy to take the rough with the smooth. Which in the long term is to the benefit of the drivers, the company and its customers.

On the point related to surge pricing, it might sound bizarre, but paying a higher price at peak times in a way is a good thing as it gets more drivers out on the road. This makes it much easier to get home. You get the estimate of the cost on your phone prior to starting your journey, so you can decide if it is acceptable before you start.

Frank7

6,619 posts

89 months

Thursday 4th October 2018
quotequote all
okgo said:
It happens all the time. Probably I have this sort of issue 2 or 3 times a week

Also the amount of cabbies that take the total piss with their card machines is a joke. Again 2 or 3 times a week I encounter one that is 'broken' - the story soon changes when I refuse to pay.


That said there are mostly good ones out there that hate the types that do the above.
At least I featured in your last sentence, although I didn’t “hate” them, but I disliked them intensely, for bringing the job into disrepute.
I sympathise with you on the “not working” card machines, I’ve heard that a lot from friends still out there, I’m guessing it’s from drivers who really only want cash, maybe to flannel the tax man.
It was not a problem when I was working, I had a card reader before they were mandatory, to me, it was another way to earn, I took cards all day long.
Many times I was reading the paper on a rank outside a good hotel, and the doorman would come to me, third or fourth on the rank, and say, “Credit Card job to the airport Frank, you want it? The guys in front don’t take them.”
Naturally, at £50 odd a pop I was all for it, the dinosaurs who didn’t take cards would scream that I was killing them, as they only took coin of the realm.

okgo

38,463 posts

200 months

Thursday 4th October 2018
quotequote all
I report them to TFL now.

Many of them of course have izettle connected to their phone, just another way to dodge tax, but I can tolerate that of course, but sticking a bit of paper over a clearly working card machine is not ok.

I was in Richmond recently and the first two in the rank refused to take card, when I got to the 3rd, he asked why had I not gone to them, I said why, he jumped out of his cab and had a go at them for making them look like chancers. Good on him.


ashleyman

7,003 posts

101 months

Thursday 4th October 2018
quotequote all
I'm starting to dislike Uber in London now. It's becoming a joke. I regularly use it when Addison Lee is fully booked which is quite often at peak times.

I usually go from Central out to Sutton in Z5. The app doesn't tell drivers where you are going until they pick you up, as in, you physically get in the car, then it tells them where they're going. What the drivers have been doing to me is phoning me and asking where I am going. I say Sutton and they're like cool, ok and then hang up. The app then ditches the driver and a new one is assigned - this happens because the drivers are declining the fare. It could be because they don't have enough fuel, don't want the long trip - lots of reasons. But still very annoying.

On Friday that happened 4 times before someone actually turned up to get me. I then cancelled on him because he had a flat tyre and I wasn't getting in his car. Uber charged me £6. I disputed the cancellation charge but there's no way to tell them why I cancelled it.

In the end I managed to get someone to come get me, purely by ignoring my phone until I saw them and was in the car.

I get why they would do it but it is still super annoying.

mcg_

1,445 posts

94 months

Thursday 4th October 2018
quotequote all
ashleyman said:
I'm starting to dislike Uber in London now. It's becoming a joke. I regularly use it when Addison Lee is fully booked which is quite often at peak times.

I usually go from Central out to Sutton in Z5. The app doesn't tell drivers where you are going until they pick you up, as in, you physically get in the car, then it tells them where they're going. What the drivers have been doing to me is phoning me and asking where I am going. I say Sutton and they're like cool, ok and then hang up. The app then ditches the driver and a new one is assigned - this happens because the drivers are declining the fare. It could be because they don't have enough fuel, don't want the long trip - lots of reasons. But still very annoying.

On Friday that happened 4 times before someone actually turned up to get me. I then cancelled on him because he had a flat tyre and I wasn't getting in his car. Uber charged me £6. I disputed the cancellation charge but there's no way to tell them why I cancelled it.

In the end I managed to get someone to come get me, purely by ignoring my phone until I saw them and was in the car.

I get why they would do it but it is still super annoying.
Did wonder if they knew the destination before they arrived. I assumed they didn't as the bloke wasn't particularly happy about going from Euston to Northampton at about 1am....

gazapc

1,324 posts

162 months

Thursday 4th October 2018
quotequote all
K50 DEL said:
And I'm sad enough to want to do that... any chance of a template lol
Happy to send but
1. Away on hols atm.
2. Its super easy, download data, add 2 extra columns with one stating month and one stating spend category. Then add pivot table filtering by month.

K50 DEL

9,275 posts

230 months

Friday 5th October 2018
quotequote all
gazapc said:
K50 DEL said:
And I'm sad enough to want to do that... any chance of a template lol
Happy to send but
1. Away on hols atm.
2. Its super easy, download data, add 2 extra columns with one stating month and one stating spend category. Then add pivot table filtering by month.
Good man, I'm on hols from Monday but drop me a PM through here and i'll pick it up

johnwilliams77

8,308 posts

105 months

Friday 5th October 2018
quotequote all
K50 DEL said:
Good man, I'm on hols from Monday but drop me a PM through here and i'll pick it up
Just take option 2 - you work in IT?!

toon10

6,257 posts

159 months

Friday 5th October 2018
quotequote all
gazapc said:
I'm sad enough to download my bank statement, assign each payment a category (e.g. food, car, holiday), then throw it through some Excel pivot tables to give monthly spend tracking. Been doing this for 5+ years now with 4500+ individual line items. Once set up, it only takes 10 mins every month to do.

Averaging over the last year, monthly:
£525 mortgage
£200 Food
£110 utilities, mobile, internet (includes outright purchase of £300 phone)
£110 on train commute
£110 council tax
£350 on car costs + fuel (also includes some one off restoration costs on classic)
£300 on holidays (obviously lumpy spends throughout year)
£100 cash per month (mostly pub I imagine)
£270 on other assorted stuff e.g house & life insurance, house maintenance, clothes, birthday presents etc..

Leaves a few hundred left over every month. Have a healthy emergency fund. Building up some funds in a S&S ISA.

Money I never see:
£175 + £350 employer contribution going into work pension.
IIRC, £165ish going into student loan repayments

Being 28 I don't see myself as doing too badly, not rolling it in but not exactly just getting by. Interestingly my take home pay has essentially doubled since I started the spreadsheet!
I developed my own spreadsheet which has been refined over the years too.

Tab for each month, which is a copy and paste from my online account. I go through each line and assign it to a line item grouped by car, house, personal, etc. I have a budget sheet at the end which automatically picks up the details and lets me know any overspend vs budget (highlighted in red) and lots of other details. Totals, averages, % of income, etc. Major nerd to setup but easy to update and maintain now. My other half calls me a nerd, my financial adviser calls me a godsend. I don't always control my spend but I know every week if I'm spending too much on shopping, nights out, etc.

brickwall

5,262 posts

212 months

Saturday 6th October 2018
quotequote all
ashleyman said:
Post about Uber drivers calling, then cancelling trips to destinations they don't want to go to.
This also really pisses me off. Drivers are not allowed to do it, and yet it's common practice at airports. I've found the solution is to play them at their own game.

When a driver calls and asks for my destination, I give them one that's in the same direction, but desirable for them (decent distance, but also where they'll get another fare very quickly). From Heathrow - pick Mayfair or Chelsea.

Once in the car and safely on the move, say "Oh I've just had a message from spouse/brother/friend, so I'm actually going somewhere different. I've updated the destination." Off we go. So long as it's in the Uber area you're ok. At worst they'll slightly downgrade your passenger rating - big deal.

D1bram

1,514 posts

173 months

Wednesday 10th October 2018
quotequote all
Great thread and very timely for me, having just tried to get my finances in order recently.

Background: 38, live in North East England and earn just over £60k. Fair to say I'm a bit older and further into my career than the OP, but I've enjoyed quite an immature approach to finance recently.

I split from the now ex-wife over 3 years ago and then started a bit of a period of renewed youth, for a time I spent without really thinking towards the future, peaking while I lived with my parents for a few months after my marital home was sold... I was like a teenager but with the money to do what I wanted. Fun times. But I realised recently that despite living in a cheap part of the world and earning a decent salary I was ending each month further and further into my overdraft.

So I've totted up where it goes, trimmed some absolute frivolity (gin and beer subscriptions), got my mobile phone spend in line (I pay for my folks too, I was spending £160/month until recently) and have given myself more reasonable allowances for food and socialising.

On top of my mortgage I have car finance (PCP), some debt carried over from the divorce (luckily I also came out of it with a reasonable house deposit) and I pay off a credit card debt for my folks.

I've broken my expenditure into three sections; Stuff I'm committed to, stuff I have on DD but could cancel anytime and cash expenditure.

Plan is to stick to this as much as possible, with the money I have left over taking the occasional hit (car insurance/service, dentist, home maintenance) but hopefully mounting up over time.

Long term... I really need to start thinking about retirement (have various basic pension pots scattered about) and aim to get the debt paid down.

One driver for this though lifestyle choice, it is comforting to know that I can explore opportunities which mean a reduced income if needs be.

Outgoings
Mortgage 753.71
Utilities 145
Council Tax 99
Ford Credit 356.88
MBNA 100
Loan 306.01
Home Ins 15.31
TV Licence 12.25
Subtotal 1788.16

Virgin 30
GYM 18.99
Mobiles 30
Account 12.5
Amazon 7.99
NetFlix 7.99
Subtotal 107.47

Food 300
Fuel 280
Spending 350
Subtotal 930

Total 2825.63

Salary 3640

Spare 814.37

Wish me luck!

Edited by D1bram on Wednesday 10th October 17:46