Cable Forum - Rising cost of living

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Re: Rising cost of living

Things are getting so bad for nurses financially that the Royal College of Nursing is recommending they take their first ever strike. A vote is being held next month.
https://www.mirror.co.uk/news/politi...-ever-27691880

Meanwhile, in-touch Ministers focus on the important issues the nation faces like privatising Channel 4 and too much perceived civil service equality training. :erm:

Re: Rising cost of living

Quote:

Originally Posted by 1andrew1 (Post 36130649)

So where are they focusing on those issues, to the exclusion of everything else?:rolleyes:

Re: Rising cost of living

Quote:

Originally Posted by nomadking (Post 36130651)

So where are they focusing on those issues, to the exclusion of everything else?:rolleyes:

The fact that they have proposals to privatise Channel 4 but not to tackle inflation by getting some of the one million over 50s back into work who left the job market during the pandemic tells you all you need to know.

https://www.bbc.co.uk/news/business-62471260

Re: Rising cost of living

I guess good times is relative but over the past decades the percentage of wages spent on food dropped remarkedly. (I read somewhere it dropped from 25%+ to below 10%). If that were true then that is some capacity to save.
If you are buying luxuries that is also capacity to save, do you really need that luxury?

Re: Rising cost of living

Quote:

Originally Posted by tweetiepooh (Post 36130655)

Food is just one part of household expenditure so whilst that may have dropped - what about the sharp rise in house prices and rental costs?

Re: Rising cost of living

The September CPI, which is used to set next year's changes in Benefits, etc. will no doubt plunge well into single figures. I wonder how that happens?

Re: Rising cost of living

Quote:

Originally Posted by tweetiepooh (Post 36130655)

You may find this informative.

https://ahdb.org.uk/news/consumer-in...-money-on-food

Quote:

According to the Office of National Statistics, between 1957 and 2017 the share of household expenditure spent on food has halved. This partly reflects our larger incomes, smaller households and a greater choice of products at different price points. Over the same period, the share of our spending going on housing has doubled and spending on transport has also significantly increased.

Quote:

For many low-income families in the UK, food poverty is a pressing issue and putting sufficient nutritious food on the table is a struggle. The Eatwell Guide is Public Health England’s official guidance on a diet that meets standard nutrient requirements. Analysis by the Food Foundation showed that the poorest 50% of households who wanted to eat a diet following Eatwell guidelines would need to spend almost 30% of their disposable income on food. The lowest 10% of households by income would need to spend almost 75%.

---------- Post added at 14:29 ---------- Previous post was at 14:26 ----------

Quote:

Originally Posted by Taf (Post 36130671)

The September CPI, which is used to set next year's changes in Benefits, etc. will no doubt plunge well into single figures. I wonder how that happens?

Not sure if that’s accurate, as inflation is forecast to rise to 13% by the end of this year…

Re: Rising cost of living

Quote:

Originally Posted by Maggy (Post 36130632)

Thankfully I own my home outright.It's about the only high point in my life.

I worked two jobs for a few years, and was able to reduce my mortgage to £50 in 2018.
I keep it at that value as I can dip back into it as an emergency backup should I require.
I have not had to do so yet, but these bills are going to dig deep, so I may have to consider it.

Re: Rising cost of living

Quote:

Originally Posted by Paul (Post 36130697)

What kind of mortgage product do you have that allows the balance to sit there at £50 for four years? Even if you overpay I thought they still wanted monthly payments.

Re: Rising cost of living

First Direct, I forget its actual name, Ive had it for well over 20 years.
Its basically like a bank account with a huge overdraft, I can pay in, or take out, as I please.
They charge monthly interest (only if my linked main account goes below £50). The only requirement is its cleared by my 65th birthday.

[ You cant get them anymore, although they still do something similar, but the requirements for those are out of my reach ].

Re: Rising cost of living

Fair enough, seems like a clever way to have an easy (and i assume cheap) line of credit available.

Re: Rising cost of living

Quote:

Originally Posted by Damien (Post 36130701)

Fair enough, seems like a clever way to have an easy (and i assume cheap) line of credit available.

Yep, and its been used that way in the past. ;)
I've bought my car using it as a cheap loan, and at least two holidays in the 2000's.

Re: Rising cost of living

Quote:

Originally Posted by Damien (Post 36130701)

Fair enough, seems like a clever way to have an easy (and i assume cheap) line of credit available.

Plus they have to securely look after the deeds and paperwork

Re: Rising cost of living

Quote:

Originally Posted by Hugh (Post 36130682)

You may find this informative.

https://ahdb.org.uk/news/consumer-in...-money-on-food

---------- Post added at 14:29 ---------- Previous post was at 14:26 ----------

Not sure if that’s accurate, as inflation is forecast to rise to 13% by the end of this year…

I wonder how so many fast food joints continue to survive when so many now know how to cook?

Re: Rising cost of living

Quote:

Originally Posted by pip08456 (Post 36130740)

I wonder how so many fast food joints continue to survive when so many now know how to cook?

Knowing how, and actually wanting to, are two very different things. ;)