It should be Jimjam not Jam

[Little Frank]

2 hours ago, Democorruptcy said:

It's not about whether two people were working or not. It's about standard of living, less debt means more living. If people are in a JAM now while rates are low, they are trapped in it forever, if rates rise and take their pay rises. 

Childcare subsidies are our taxes going to bankers, so people can pay more for houses by using two incomes. If housing costs were cheaper they wouldn't be necessary. 

You cannot look at housing 'debt' in isolation. The alternative (& higher probability for most JAMs) is renting. You would have to consider housing debt v renting over adult lifetime for any sort of reasonable comparison

[interestrateripoff]

http://www.dailymail.co.uk/news/article-3972832/So-really-Just-Managing-Struggling-JAMS-government-priority-just-interviews-thinks-label-applies-them.html

The 100k a year jams.

[SarahBell]

40 minutes ago, interestrateripoff said:

http://www.dailymail.co.uk/news/article-3972832/So-really-Just-Managing-Struggling-JAMS-government-priority-just-interviews-thinks-label-applies-them.html

The 100k a year jams.

They're not jams.. they're actually really stupid eekits

 

Childcare: It cost us £1,600 a month, almost £20,000 a year, which was crippling. We were forced to take out hefty loans from family members to see us through. We’re paying them back as and when we can.

 

[SarahBell]

The next lot:

Monthly take home: £3,100

Monthly outgoings: £2,942

Amount left over: £158

Outgoings: Childcare £50; Car £120; Petrol £200; Food £320; Mortgage £860; Council tax £230; Mobile phones £110; Broadband, home phone, TV £70; Gas and electricity £120; Home insurance £30; Life insurance £12; Clothes: £50; Hairdresser’s costs for Richard and Preston £20; Going out/takeaways £150; Credit card: £600 minimum (still paying off)

They could cut less hair, just watch freeview, stop going out for a while, 

The CC is killing them. That's what they need to concentrate on getting rid of.

I'd love to know how much they spend on Christmas. Cos it should be about £30 on presents for everyone and that's it.

[SarahBell]

The third lot?
Some people will think Gary and I are pretty well off because, in addition to our £135,000 three-bedroom family home — we use the loft as an extra bedroom — we have a terraced house worth £110,000 that we rent out, and we have recently bought a dilapidated property in the Dordogne for £47,000.


And they've got an allotment. Well buying a holiday home in France is great but it means (when it's renovated) you spend all your holidays there and ignore the allotment.
 

Edited November 26, 2016 by SarahBell

[winkie]

On 23/11/2016 at 5:57 PM, Democorruptcy said:

JAMS are Just About Managing but that's because of the JIM

Joint Income Mortgage Just About Managing (JIMJAM)

As opposed to their parents, who were SIMSITS

Single Income Mortgage Second Income To Spend

 

The more the country have more of the above the less the economy will or can grow.......local velocity of money flows to the top and far far away.....only people with spare money that is theirs that they have earned can create wealth......the wealthy will not invest if the people do not have or earn the money to spend that will grow their investment.......debt is draining the people's wealth away.....;)

On 23/11/2016 at 5:57 PM, Democorruptcy said:

On 23/11/2016 at 5:57 PM, Democorruptcy said:

Edited November 26, 2016 by winkie

[Frugal Git]

*Fabulous* stuff.

 

"The peer pressure from parents at the school gates to have the best holiday or drive the best car can be a little overwhelming."

* Because you're worth it?

 

"Even in Cornwall, we had to pay £1,000 for our tent and £400 for the campsite — plus eating out and trips."

* Yes. You *had* to pay a grand for a tent. You had to.

 

"Our car is a three-year-old Toyota Avensis."

* Oh the humanity! No-one should be subjected to that.

[ChewingGrass]

On 23/11/2016 at 6:59 PM, Brendan110_0 said:

Well that's what women's rights got us. Extra labour for the same pile of bricks at double price.

Paying more for the same - bankers love it, statisticians love it, the government loves it, it's what our entire economy is built on.

Just think of the GDP, youv'e never had it so good you ungrateful plebs, now shut up and work till you die.

[Bear Hug]

12 hours ago, interestrateripoff said:

http://www.dailymail.co.uk/news/article-3972832/So-really-Just-Managing-Struggling-JAMS-government-priority-just-interviews-thinks-label-applies-them.html

The 100k a year jams.

Monthly take home: £5,400

Monthly outgoings: £5,190

Amount left over: £210

Outgoings: Pensions £700; Childcare loans £1,000 (minimum); Car £250; Car insurance £60; Health Insurance £120; Mortgage £900;

Council tax £190; Utilities £230;

Mortgage Protection £75; Critical Illness protection £160; Dental care £30; Clothes £120; Petrol £200; Food £600; Phones £100; Vet bills and pet insurance for cats £200; Kids sports clubs £120; After-school club £120;Credit card £15 (£1,200 debt).

This just doesn't add up.  

Health insurance £120: unnecessary

Utilities £230: How do you spend £230 on utilities?  Do they burn £5 notes to heat their house?  Use satellite phone?

Mortgage protection £75: Someone still pays PPI?!

Critical illness protection £160: premium looks high.  Although I never had one. 

Food £600: there is definitely some eating out in that £600

Phones: £100?  Iphones all around then?  They could limit this to £20 easily

Vet bill and pet insurance for cats £200.  WTF?  What kind of cats cost this much?! Tigers?  Lions?  Or do they have 20 cats?!

Kids sports clubs and after school club £240 total:  there must be a cheaper option there..

I think there is at least £1000 wasted in there.  And £1200 on credit card with their income is not "debt", it's probably just their monthly balance that they clear in full every month.

Agree with £1000 tent comment - there are plenty of  tents that will fit 4 people for £100 and some enormous ones for £200.  I guess they needed a special tent for their 20 cats or a tiger.