GB72
Money List Winner
This is one area I am OK with as I have now been through no end of recessions, a credit crunch and near banking collapse and a pandemic and, yes I do worry, but there is always an end to the tunnel after a period of hardship.
The Mental Health Thread
- Thread starter DanFST
- Start date
This is one area I am OK with as I have now been through no end of recessions, a credit crunch and near banking collapse and a pandemic and, yes I do worry, but there is always an end to the tunnel after a period of hardship.
Robster59
Tour Rookie
Worry doesn't go away. I am still working but expect to retire in a 2-3 years time and the worry about having enough money to live on, so I've been dealing with my IFA to go through what I have in terms, but it has caused me a few sleepless nights at times.
My children, both in their early 30's have only recently (last 2-3 years) bought houses so I have been asking them about their mortgages. As it happens they took up 5 year fixed rate with still 2-3 years still to go on them but I worry about them as well.
My partner is a habitual worrier. Worrying about the worst things that could happen, even if it's not likely. I try to get her to look at it with some perspective but she doesn't sleep well, and consequently, I worry about her.
PJ87
Journeyman Pro
What counts as middle aged these days? (I'm 36) I do worry about the future and I have a tendency to over worry and set up fail safes in my finances to make sure the family are ok. (Which is why the solar panels went up to spend £150 a month on them and not giving it to the energy companies, once paid off it lowers the bills ofc)
I read somewhere that average age of first time buyer is 28 now so people under 45 won't have experienced these type of rates before
We are fortunate that I've been overpaying from the start so could knock that on the head to cushion the blow a bit. Then in 9 years the solar mortgage clears itself so that's £150 back in the pot per month aswell. Should cover all the increase
Part of my little worries got me to fix for 10 years in 2018 (people said I was mad to do so) so least I got 6 years for these to level off a bit but I'm planning for 5% in the predicted budgets to make sure right you need to afford this.
Car returns in 2025 to the lease. I plan to outright buy one or least low loan so it's paid off by 2028 as to make sure my family don't lose their home.
I do seem to be constantly update my 10 year plan to make sure what's affordable and not.
So long as we have a roof over our head, and the girls are happy and healthy then I'm good
Mudball
Assistant Pro
There are days, that I fear everyone will know that I 'actually' dont know anything.. What happens when they find out (will they turn me into pulp to feed the AI monster).
I think they call it imposter syndrome.
I think they call it imposter syndrome.
Mudball
Assistant Pro
Watching Ben Stokes documentary on Prime… a good reminder for those on this thread..
BiMGuy
LIV Bot, (But Not As Big As Mel) ?
I do. We’ve already had a dramatic fall in monthly income last year. However are still fairly comfortable. The wife spends money like there is an endless supply and doesn’t worry about what is potentially coming.
My current job isn’t exactly essential to the running of the company I work for and would probably be one of the first to go if there was a serious downturn.
We’ve got 3 years left on our fixed rate mortgage. One car with 8 payments left and no other loans or debts. There is quite a bit we could cut back on if needed.
But it still worries me.
Tashyboy
Please don’t ask to see my tatts 👍
It tough giving advice on mental health. Predominately because we are not walking in there shoes. But hopefully folk do see there is light at the
end of the tunnel. Trouble is some folk struggle to open their eyes in the tunnel so cannot see the light.
Having worked in the mining industry it was a weekly thing worrying about your job. Sept 92 I sat at the top of the green with my head in my hands thinking wtf have I done. in March that year I had just took in a £35K mortgage and the rate went up to 12%. Black Wednesday it was called. I had moved job/Pits in the July.
Suffice to say “ me head was a shed”.
What has life taught me.
Bottom line, I like Pauljames 87s train of thought. You are in it for the long haul. His planning is long term, solar panels, mortgage, car. Etc. It has to be. It’s not always going to be sunny.
However I see young folk that spend like it is going out of fashion. Spending habits have to change.
EG, back in the “Olden days”. You went out with £30. That’s what you spent. Now everything is pay by card or phone. Tap tap tap. Folk don’t know what they have spent. That night or the following morning it’s “ how much have I spent”. It all adds up.
You can guide folk and talk to folk but simetumes
They have to work it out themselves. Not talking about it is the worst thing possible.
end of the tunnel. Trouble is some folk struggle to open their eyes in the tunnel so cannot see the light.
Having worked in the mining industry it was a weekly thing worrying about your job. Sept 92 I sat at the top of the green with my head in my hands thinking wtf have I done. in March that year I had just took in a £35K mortgage and the rate went up to 12%. Black Wednesday it was called. I had moved job/Pits in the July.
Suffice to say “ me head was a shed”.
What has life taught me.
Bottom line, I like Pauljames 87s train of thought. You are in it for the long haul. His planning is long term, solar panels, mortgage, car. Etc. It has to be. It’s not always going to be sunny.
However I see young folk that spend like it is going out of fashion. Spending habits have to change.
EG, back in the “Olden days”. You went out with £30. That’s what you spent. Now everything is pay by card or phone. Tap tap tap. Folk don’t know what they have spent. That night or the following morning it’s “ how much have I spent”. It all adds up.
You can guide folk and talk to folk but simetumes
They have to work it out themselves. Not talking about it is the worst thing possible.
PJ87
Journeyman Pro
I like that my wife is very much in the moment, don't get me wrong having the twins has changed her to be more planning for them
But for example we actually going away for the night for our anniversary this year. First time since twins born as she ready to leave them
She just told me where she wanted to go and my planning skills were set to make it happen
Sometimes living in the moment is wonderful, so long as you don't put yourself in a position that will screw you over.
For example my Corsa is a 4 year lease. The guy was pushing 3 year for same monthly costs .. he couldn't get why I wanted 4. Don't get me wrong I can't wait to move it on and get a better one now I proved EV suits me .. but I knew January 24 I wouldnt be in position to buy a new one but Jan 25 I should be.
There will be light at the end of this one day. Just got to keep treading that water best you can.
Energy bills are coming down aswell. Just fixed the gas for a year at 7.56p a kw , could gamble they will go slightly lower but I'd rather just know for a year
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Felt this deserved to be in here
