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Post by Danno on Jan 30, 2022 8:51:33 GMT
So apparently you can now buy now, pay later to feed your family www.theguardian.com/money/2022/jan/29/buy-now-pay-later-grocery-schemes-are-a-debt-trap-for-struggling-familiesI have no doubt that the energy companies are devising something similar for next winter with a clause that, if you default on payments, they will pop over in June and freeze you and your loved ones with liquid nitrogen. It's early and I'm going back to bed before really digging into this, but I can't yet figure out how they're making any money from this. There's no interest, the goods aren't being sold at inflated values and there aren't any sign up charges. The only thing I can think of is crazy default fees, but they're targetting people that are already in financial hell. It's really weird. |
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H-alphaFox
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Post by H-alphaFox on Jan 30, 2022 9:08:51 GMT
People should just get better paying jobs.
Crisis averted.
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geefe
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Post by geefe on Jan 30, 2022 9:38:00 GMT
I am quite thankful that, in context, ours haven't rocketed like some people. We're not hitting the £250 a month bracket.
But I am 90% certain I'll be getting solar panels. I'm south facing, no obstructions and on a hill. It seems to benefit home and part time workers much more as you can put things on using just the solar. May also get an electric oven.
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mcmonkeyplc
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Post by mcmonkeyplc on Jan 30, 2022 10:21:11 GMT
We've been thinking about getting solar for ages but the energy prices might just tip the balance to actually doing it.
Also this is exactly how capitalism is supposed to work. Price changes the demand and supply of goods and services. 😊
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sport✅
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Post by sport✅ on Jan 30, 2022 10:27:43 GMT
People should just get better paying jobs. Crisis averted. |
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H-alphaFox
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Post by H-alphaFox on Jan 30, 2022 10:28:57 GMT
Smart girl.
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Deleted
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Post by Deleted on Jan 30, 2022 11:20:40 GMT
I was reading about the NI hike last night. That, inflation rising, fuel increases and mortgage rate increases and you're going to break a lot of people. Had I not got a new job with a pay rise, I'd have been one of those people as I've almost no spare cash.
Obviously the firm's doing buy now and pay later on food are expecting people to miss payments and then they'll send in the debt collectors if need be. They are like dogs with a bone when it comes to debt and will chase it for years. It's disgusting that they're allowed to do this and this incompetent bloody government should be stopping it, but all they are focused on is the Clown In Chief.
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Bongo Heracles
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Post by Bongo Heracles on Jan 30, 2022 11:23:29 GMT
I got a promotion this year and most of the extra money has been wiped out with cost of living increases. I would imagine pretty much every pay review this year is going to be an effective pay cut.
EDIT: promotion last year.
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Post by GigaChad Sigma. on Jan 30, 2022 11:26:42 GMT
Between buying a new place, NI tax (double whammy as a contractor) energy bills and general price increases.
Living on your own is expensive biznizz!
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Deleted
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Post by Deleted on Jan 30, 2022 11:33:41 GMT
I got a promotion this year and most of the extra money has been wiped out with cost of living increases. I would imagine pretty much every pay review this year is going to be an effective pay cut. That's more or less where I'll be. I was chuffed about the pay rise but I think it's mostly going to go on energy, (renews in March), mortgage (renews in October), NI and food and fuel. Still, it keeps the wolves from the door for now. Just worrying that we've not got a lot of luxuries to cut back on (Amazon Prime, Disney+ and £20 a month on phones). We don't go out, have holidays or spend on ourselves and I've got a house that needs rewiring and thread bare carpets. And I consider myself pretty well off, so I've no idea how others cope. |
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Post by simple on Jan 30, 2022 11:56:12 GMT
I got a promotion this year and most of the extra money has been wiped out with cost of living increases. I would imagine pretty much every pay review this year is going to be an effective pay cut. Same. We both earn above average wages here but I’m skirting close to my overdraft most months. Nursery is the biggest single outgoing but I couldn’t work without it even if it takes two-thirds to three quarters of my pay (depending how long the month is/school holidays) and leaves me with maybe £100 for non-essentials. |
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Post by Jambowayoh on Jan 30, 2022 12:02:09 GMT
People should just get better paying jobs. Crisis averted. But if we gave them better paying jobs they'd get use to things such as regular food and paying for somewhere to live. We can't have that. They won't work hard enough such as people like Prince Andrew. |
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H-alphaFox
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Post by H-alphaFox on Jan 30, 2022 12:10:23 GMT
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Post by darkling on Jan 30, 2022 12:18:33 GMT
There's never been a more appropriate time to introduce a Universal Basic Income to protect people from the current trend of unchecked capitalism and corporatism.
... and how do we fund this UBI? Simple. Tax companies that have replaced human jobs with machines.
Supermarkets would be a good start (self-service checkouts).
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Post by Dougs on Jan 30, 2022 12:32:21 GMT
Any benefit from not commuting has been wiped out too. Going to be tricky when I head back into London.
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Post by khanivor on Jan 30, 2022 12:53:16 GMT
I’m of the opinion that anything that is sold to a debt collector is a debt that no longer exists between me and the lender and therefore can be ignored with zero moral dilemma.
Any debt owed to a predator lender, it’s your moral obligation to not repay.
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Post by clemfandango on Jan 30, 2022 13:20:16 GMT
The problem is most people live to their means and have no savings. We don’t...
On paper we live up north (south manchester) and earn well over £100k between us. That sounds okay but we have £600k house with £400k mortgage, two kids who cost a fortune, holidays to pay for, a house that already costs £300 per month for gas, electric and water, Cc bills, two car payments a month, etc etc. We haven’t got a pot to piss in after buying food and every bill goes out. The cost of living increase is having a massive effect on everyone.
We are lucky in way as I know we can cut back in areas to negate its effect. But people who are on averages salaries or less are really going to struggle.
Fuck the tories..
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Frog
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Post by Frog on Jan 30, 2022 13:25:44 GMT
Might be time to downsize the house a bit, no point in spending every penny you earn to keep a roof over your head.
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Post by Jambowayoh on Jan 30, 2022 13:28:42 GMT
Or getting your kids to work up a chimney to bring some cash in.
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askew
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Post by askew on Jan 30, 2022 13:34:37 GMT
HTF is a can of Heinz Baked Beans £1 now  |
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Post by clemfandango on Jan 30, 2022 13:35:10 GMT
Might be time to downsize the house a bit, no point in spending every penny you earn to keep a roof over your head. We have only just moved into it. Probably not the best decision we have ever made! I think we will be going down to 1 car which will save us quite a bit |
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Frog
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Post by Frog on Jan 30, 2022 13:42:40 GMT
AHH what a nightmare. We have thought about moving a few times as we could use a bit more room but just don't want to risk a similar situation. Just going to try and become mortgage free as soon as possible now and try and save some money for being old(er).
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Post by dfunked on Jan 30, 2022 13:43:42 GMT
HTF is a can of Heinz Baked Beans £1 now What the actual fuck? I didn't even bother looking at prices last time we did a shop and grabbed some branston ones instead. The unstackable bastards aren't going in my cupboard any more. Especially not at that price! This sort of stuff makes my pitiful pay increase in my last job even more insulting. |
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Post by Tonka (🐑,🪤) on Jan 30, 2022 13:45:13 GMT
I read an article by one of those FIRE bros. "How to put one million in a savings account in five years"
It literally boiled down to "Bring your own lunch to work, put 17K into your account each month"
I'm surprised that there's still people without one million in their savings account. It's all so simple.
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H-alphaFox
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Post by H-alphaFox on Jan 30, 2022 14:13:30 GMT
It's just further proof that we are all fucked and incapable of implementing meaningful change.
This is all clearly acceptable otherwise it would not be repeated the world over.
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Post by gammonbanter on Jan 30, 2022 14:17:31 GMT
But capitalism gave us cheap shit in the first place?
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スコットランド
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Post by スコットランド on Jan 30, 2022 14:27:19 GMT
The problem is most people live to their means and have no savings. We don’t... On paper we live up north (south manchester) and earn well over £100k between us. That sounds okay but we have £600k house with £400k mortgage, two kids who cost a fortune, holidays to pay for, a house that already costs £300 per month for gas, electric and water, Cc bills, two car payments a month, etc etc. We haven’t got a pot to piss in after buying food and every bill goes out. The cost of living increase is having a massive effect on everyone. We are lucky in way as I know we can cut back in areas to negate its effect. But people who are on averages salaries or less are really going to struggle. Fuck the tories.. Yeah, sounds like you have it real tough. Maybe Jack Monroe could help. |
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Frog
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Post by Frog on Jan 30, 2022 14:31:23 GMT
Yes Clem, you aren't allowed to talk about how inflation is affecting you as you aren't the poorest person in the world.
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Post by Reviewer on Jan 30, 2022 14:32:46 GMT
Even high earners will think it’s a major issue if they have to make any sort of cut back, even if it’s one less holiday in a year. It’s obviously not the same issue as not being able to feed yourself but it’s still not a good thing.
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Post by Jambowayoh on Jan 30, 2022 14:34:47 GMT
The problem is most people live to their means and have no savings. We don’t... On paper we live up north (south manchester) and earn well over £100k between us. That sounds okay but we have £600k house with £400k mortgage, two kids who cost a fortune, holidays to pay for, a house that already costs £300 per month for gas, electric and water, Cc bills, two car payments a month, etc etc. We haven’t got a pot to piss in after buying food and every bill goes out. The cost of living increase is having a massive effect on everyone. We are lucky in way as I know we can cut back in areas to negate its effect. But people who are on averages salaries or less are really going to struggle. Fuck the tories.. Yeah, sounds like you have it real tough. Maybe Jack Monroe could help. 🤦♂️ Christ, it's not a zero sum game. |
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