Being an adult

[vampiress88]

Originally Posted by sam_b

Agreed - a very rare, and unfortunate exception.

That said, holding all of your wealth/savings in a single share in any company is high risk, so once it’s possible, even share scheme shares should be diversified and the money/portfolio isa wrapped to avoid cgt...

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My sharesaves I had before (forgot to do them before the deadline this year with new company) were that could take them out at anytime and they money we put in was given back. This is what I did as I couldn’t keep the sharesave any more and the shares had dropped so I didn’t lose anything thankfully.
Was stupid to forget the deadline this year. It was on the day we left for the hotel before our flight.

[Bootrip2]

Originally Posted by dreamisawish

I am actually comfortable with the loan, I understand that it's not effecting my credit score and there is also, sadly, a high probability not all of it will be paid off before it's written off. It's more just a number I do think about sometimes, and then I get a letter from student finance every quarter with an update and the interest is astonishing.

Student finance have also been pretty annoyed at me not working, they send a letter every four months asking for evidence I'm supporting myself through savings and not working cash in hand somewhere which is understandable but also feels pretty intrusive to have to keep sending them copies of four months worth of my bank statements every time they ask.

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Probably not a popular opinion, but i think that student loans should not be written off anyway, if you are unable to get a job to pay it off, it should be payed off through some sort of community service, maybe helping out in schools etc to help future generations or environmental work.

[klr15]

Originally Posted by Bootrip2

Probably not a popular opinion, but i think that student loans should not be written off anyway, if you are unable to get a job to pay it off, it should be payed off through some sort of community service, maybe helping out in schools etc to help future generations or environmental work.

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What about if you have a job, but you earn under the threshold for the repayment?

I technically earn under the threshold for repayment with my annual salary, however because of the bonus I received this year it took me over and I have been paying back my student loan since February, which I am okay with, I don’t mind repaying it, I just don’t normally earn enough even though I have a decent paid job.

[mushumadness]

I’m 37
Married with four kids and two puppies lol and sometimes I wonder when I did indeed become the grown up
Mortgages I’m ok with as I used to advise on it
But critical
Illness I always get lost on

[Andybear]

I'm 55 and a secretary in a firm of solicitors. A few of us are that age. There are a couple of people there in their 20s and they don't have the same work ethic as the rest of us.

[Tinkerbell 1]

I don’t think my views are going to be popular but here goes.

I work in Financial Services so consider my self pretty well educated on Mortgages, pensions, share saves, investments etc. My parents also educated as I was growing up.

I had my first mortgage at 19, have always maxed my pension and in the past 8 years have also maxed my share save and purchase of tax efficient shares through work.

The problem today as I see it are people’s expectations. As I child I rarely went on holiday and then only when in the UK til I was 16, other than Christmas and birthday never got gifts from my parents, my clothes were hand me downs from my cousin and I never had days out but we lived on the coast so not really a big issue, the seaside was our playground.

Today’s expectations are so different, generally savings and mortgages don’t seem to be the priority for my generation. The amount of my friends who tell me they worry about their retirement (We’re early 40’s) but have a large Mortgage, multiple foreign holidays and new cars on the drive. People just don’t seem to be willing to prioritise the future over today. I often wonder if they will regret this in years to come.

[Pumpkin Pie]

Originally Posted by Tinkerbell 1

I don’t think my views are going to be popular but here goes.

I work in Financial Services so consider my self pretty well educated on Mortgages, pensions, share saves, investments etc. My parents also educated as I was growing up.

I had my first mortgage at 19, have always maxed my pension and in the past 8 years have also maxed my share save and purchase of tax efficient shares through work.

The problem today as I see it are people’s expectations. As I child I rarely went on holiday and then only when in the UK til I was 16, other than Christmas and birthday never got gifts from my parents, my clothes were hand me downs from my cousin and I never had days out but we lived on the coast so not really a big issue, the seaside was our playground.

Today’s expectations are so different, generally savings and mortgages don’t seem to be the priority for my generation. The amount of my friends who tell me they worry about their retirement (We’re early 40’s) but have a large Mortgage, multiple foreign holidays and new cars on the drive. People just don’t seem to be willing to prioritise the future over today. I often wonder if they will regret this in years to come.

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Totally agree with you to an extent but I am now wondering who is the most sensible. We have always been savers (although that was a struggle when our children were young on one salary). We only buy if we can afford it and went without holidays quite a few times over the years ... BUT now we are getting older we look ahead and can see how most of our savings/assets could be taken away if we end up in a care home.

Who is the most sensible? The careful savers or the ones who spend and enjoy the moment?

[danisleigh]

Originally Posted by Pumpkin Pie

Totally agree with you to an extent but I am now wondering who is the most sensible. We have always been savers (although that was a struggle when our children were young on one salary). We only buy if we can afford it and went without holidays quite a few times over the years ... BUT now we are getting older we look ahead and can see how most of our savings/assets could be taken away if we end up in a care home.

Who is the most sensible? The careful savers or the ones who spend and enjoy the moment?

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I kind of agree with you, my husbands grandparents passed away within the last 2 years and all of the grandchildren inherited a large sum of money as they had always saved for a rainy day. That rainy day never came and I think his grandma particularly regretted not enjoying their money more. We try to have a balance...we have pensions and savings but also enjoy holidays and living out life to the Max, I don’t think you can do more than that.
I do agree about expectations nowadays though, when we bought our house we had hubbys grandparents second hand carpet patched into our lounge as we couldn’t afford new. We had second hand sofas and kitchen equipment and it took several years before we could replace them but I can’t see my son being happy with that if he bought a house.

[klr15]

Originally Posted by Tinkerbell 1

I don’t think my views are going to be popular but here goes.

I work in Financial Services so consider my self pretty well educated on Mortgages, pensions, share saves, investments etc. My parents also educated as I was growing up.

I had my first mortgage at 19, have always maxed my pension and in the past 8 years have also maxed my share save and purchase of tax efficient shares through work.

The problem today as I see it are people’s expectations. As I child I rarely went on holiday and then only when in the UK til I was 16, other than Christmas and birthday never got gifts from my parents, my clothes were hand me downs from my cousin and I never had days out but we lived on the coast so not really a big issue, the seaside was our playground.

Today’s expectations are so different, generally savings and mortgages don’t seem to be the priority for my generation. The amount of my friends who tell me they worry about their retirement (We’re early 40’s) but have a large Mortgage, multiple foreign holidays and new cars on the drive. People just don’t seem to be willing to prioritise the future over today. I often wonder if they will regret this in years to come.

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I think for me, there has to be a balance between the two. As much as you can save and plan for the future, the sad fact is, we can’t be sure we will have one, anything can happen tomorrow we just don’t know.

I am a saver, when I get my wage I deduct my bills and mortgage, put a certain amount in my savings account and then whatever is left I divide by 5 and that is my weekly budget. However I don’t have any issues with using some of that savings money for a holiday, I want to work to live, not live for work.

When it comes to material items I am much stricter, I have an old iPhone (£10 a month), only buy clothes when it is essential ect.. so I just think for me I have to have a balance.

[Tinkerbell 1]

Originally Posted by Pumpkin Pie

Totally agree with you to an extent but I am now wondering who is the most sensible. We have always been savers (although that was a struggle when our children were young on one salary). We only buy if we can afford it and went without holidays quite a few times over the years ... BUT now we are getting older we look ahead and can see how most of our savings/assets could be taken away if we end up in a care home.

Who is the most sensible? The careful savers or the ones who spend and enjoy the moment?

See more...

You’re right there is balance. I’m talking about being in a position to retire in my mid fifties v some of my friends who will have to work into their seventies and even then will have to live week to week. Hopefully during that time I’ll be fit and healthy and be able to travel and enjoy myself.

I’ll be leaving as little as possible!