Financial security

MonkeyLove

MonkeyLove

Striker
How long could you last if your income dried up?

Nothing worries me more then money and being we've just had our 2nd child and my wife doesnt work Ive been trying to bump up the backup plan if anything happens.

I've only been in current job 6 months so would get fuck all redundancy but as of next week after probation have a 3 month notice which is a nice buffer.

After that maybe 2 months of savings and then I'd be in to downsizing the cars and if it all goes completely to shit we have a decent equity in the house so would never starve.

But it still f***ing worries me so God knows how some people who are already well overstretched, in insecure work, or with no assets must feel. Particularly if they have dependants.
 


Me and our lass have been debating what percentage of our income we should be spending on a mortgage. Shes very much like you:lol:
 
MonkeyLove said:
How long could you last if your income dried up?

Nothing worries me more then money and being we've just had our 2nd child and my wife doesnt work Ive been trying to bump up the backup plan if anything happens.

I've only been in current job 6 months so would get fuck all redundancy but as of next week after probation have a 3 month notice which is a nice buffer.

After that maybe 2 months of savings and then I'd be in to downsizing the cars and if it all goes completely to shit we have a decent equity in the house so would never starve.

But it still f***ing worries me so God knows how some people who are already well overstretched, in insecure work, or with no assets must feel. Particularly if they have dependants.
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Ask yourself would you take a terminal illness or never work again in your life. I'm sure most would take never working again. Money isn't necessary to make you happy. Stop worrying and enjoy your life and family while you can.
 
MonkeyLove said:
How long could you last if your income dried up?

Nothing worries me more then money and being we've just had our 2nd child and my wife doesnt work Ive been trying to bump up the backup plan if anything happens.

I've only been in current job 6 months so would get fuck all redundancy but as of next week after probation have a 3 month notice which is a nice buffer.

After that maybe 2 months of savings and then I'd be in to downsizing the cars and if it all goes completely to shit we have a decent equity in the house so would never starve.

But it still f***ing worries me so God knows how some people who are already well overstretched, in insecure work, or with no assets must feel. Particularly if they have dependants.
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What about the dog?
 
MonkeyLove said:
How long could you last if your income dried up?

Nothing worries me more then money and being we've just had our 2nd child and my wife doesnt work Ive been trying to bump up the backup plan if anything happens.

I've only been in current job 6 months so would get fuck all redundancy but as of next week after probation have a 3 month notice which is a nice buffer.

After that maybe 2 months of savings and then I'd be in to downsizing the cars and if it all goes completely to shit we have a decent equity in the house so would never starve.

But it still f***ing worries me so God knows how some people who are already well overstretched, in insecure work, or with no assets must feel. Particularly if they have dependants.
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We still have a safety net in this country so as you say, you'll never starve.

I was in the same situation as you 10 years ago and have made significant progress since then - i'd be able to get by for about 5 years on reduced outgoings - however retirement would be a bleak prospect.

Stick in at work and badger them for opportunities to better yourself. We all know they're c+nts only in it for themselves but let them know you can assist and they'll see you as one of them.

Don't let your financial concerns stress you out. It's not real
 
MonkeyLove said:
But it still f***ing worries me so God knows how some people who are already well overstretched, in insecure work, or with no assets must feel. Particularly if they have dependants.
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One of my mates does just live payday to payday, no assets (rents house) built up a shit load of debt anarl. But he genuinely doesn't give a shit. I think a lot of people in that situation do think like that or they wouldn't have got in that situation in the first place or at least try everything to avoid it.

I'm more a bit like you, I take a bit more cautious approach so that I have a backup plan if the worst happens, but whilst still being able to live a bit & enjoy yourself.
 
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monkeytassle said:
Constant worry
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Why?
Couldnt you just make changes to lower outgoings.
If we both had no income (very unlikely) and couldnt get other jobs (again unlikely) we would just sell up, cars, material things, equity in the house as a last resort and use that until we get sorted. Not something I would ever want to do but it's an option as a safety net. Stops me worrying about it anyway I suppose.
If we were down to one income we could manage just about.
 

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