How is inflation effecting you in 2022?

[Minimalist]

2 minutes ago, FlorinCollector said:

Yep getting old. 26 this year. 

It gets worse mate honestly… From hair falling out yer napper and going to bed early on the weekends. You just look at your cash youve worked for and think "holiday, weekend away or prewarm up mid life crisis purchase"

prewarm up mid life crisis might be @HerefordBullyun blow up dolls

[Roy]

34 minutes ago, Minimalist said:

Cheers for the reply @Roy, reciprocal as ever pal. I hope Pacquiao knocks the head clean off ye over there!

I'm in the USA now, currently employed speech writing for President Biden and fundraising for the Ukraine.

 

[Petra]

7 hours ago, FlorinCollector said:

For once? Could you explain a bit please mate. I thought the public sector always received lower pay rises than in the private sector?

There have been many years when public sector has received what may appear to be small rises, however, vast numbers elsewhere got less or none, only highlighted by some who did get more. The other thing though is that the majority of public sector jobs still are jobs for life unless you are really unlucky and get ‘down sized’ or privatised.

[Petra]

4 hours ago, Roy said:

I attended university for free too. Sorry.

Perhaps it's time we had fewer graduates and more skilled tradesmen, is that the idea?

Why does a plumber cost so much and is so hard to find? It wasn't always that way. Everyone knew a plumber once.

Many graduate courses are worthless anyway, too many 'ologies', as Dame Lipman used to call them.

How many archaeology graduates are employed in the (a) field? More likely painters and decorators today.

 

 

 

Very few graduates are actually employed in the field that they studied. Unless you are after a job in a very specific field the idea of a degree for many employers is what you are capable of and how you can do certain things.

[HerefordBullyun]

5 hours ago, Minimalist said:

It gets worse mate honestly… From hair falling out yer napper and going to bed early on the weekends. You just look at your cash youve worked for and think "holiday, weekend away or prewarm up mid life crisis purchase"

prewarm up mid life crisis might be @HerefordBullyun blow up dolls

Hey you leave my latex wives outta this!

Shes been nothing but loyal to me!

Edited April 14, 2022 by HerefordBullyun

[papi1980]

Edited April 14, 2022 by papi1980

[GoldDiggerDave]

On 12/02/2022 at 20:44, GoldDiggerDave said:

A few times that I bought tonight at Lidl 

can of tomato soup was 33p  now 40p   21% increase

1 litre of UHT milk was 50p now 55p       10% increase

jar of coffee was £1.89 now £1.99            5.2% increase 

Forget stacking PM's I'd be better off flipping tins of soup! 

The same 1 litre of milk tonight             £0.50p in Feb now £0.65p         30% increase 

The same jar of coffee                           £1.89 in Feb now £2.09              10.5% increase

Butter                                                      £1.79 in Feb now £2.09               16.75% increase        

Cheap bread                                           £0.36p in Feb now £0.45            25% Increase

 

And what is the government pretending inflation is running at?  

 

 

[Uksilverstackers]

1 hour ago, GoldDiggerDave said:

And what is the government pretending inflation is running at?  

 

They only say the amount they think they can get away with / cannot hide anymore.....

Edited April 15, 2022 by Uksilverstackers

[GoldDiggerDave]

I'm trying to predict what these compounding price rise will look like for a family by the end of the year.  If you are student in England I'd like to know what effect the increase on your student loans is having. Also if you have had any recent increase that effect you let me know.

Gas/Electric   monthly increase                   £120-£160

Petrol/diesel  per family                                £70-150

Food                                                               £50-80

Council tax                                                     £6-8.50

Insurances/telecoms                                     £9-15

Wetherspoon+20%                                        £8-12

 

Easy £350 or £4,200 per year as it stands currently,  if they increase interest rates and historically (this has been a mechanism to counteract inflation) by 2% then it will add around £155 per month extra to an average variable mortgage.    In this scenario a normal family will have to find at least £500 per month more, just to maintain the life they had at the start of 2022.     

I might be in the wrong forum as most of us are wealthy or Independently wealthy and will be able to absorb what is ever is going our way.   There will be millions of households that can not absorb or re budget.  

 

 

 

 

[FlorinCollector]

@GoldDiggerDave I was talking with my mates the other night. The biggest issues I think will peak when first time buyers who bought at peak house prices have to refix for the first time. I would say most new buyers up here go on a 2 year fix because there LTV is so high. Most being 90-95%. Most will already be at least a year into this so not too long before they need to get a new rate which will be higher.

[Stacktastic]

1 hour ago, FlorinCollector said:

@GoldDiggerDave I was talking with my mates the other night. The biggest issues I think will peak when first time buyers who bought at peak house prices have to refix for the first time. I would say most new buyers up here go on a 2 year fix because there LTV is so high. Most being 90-95%. Most will already be at least a year into this so not too long before they need to get a new rate which will be higher.

It will be fine. they will have to sell at a loss, rent & still have spiralling living costs & own nothing

But at least they will be happy. 😛 

[CANV]

Met a mate of mine who smokes.  A bag of tobacco has gone from 23 quid to nearly 30 this year ..   get back on the Dover run !!

[Minimalist]

4 hours ago, CANV said:

A bag of tobacco has gone from 23 quid to nearly 30 this year

I remember they were £4 when I grew up. That is an incredible jump.

[GoldDiggerDave]

My basics in lidi have gone up 20-30%, fuel 34%, energy 54%  can people just blindly absorb these costs will they just go on as normal and just accept having less money and/or get further into debt?  I just can't see how a normal family can sustain £350-£500 extra outgoings per month without a swift rise in wages.

 

 

 

 

 

 

 

 

 

 

[FlorinCollector]

@GoldDiggerDave I think the answer is most will borrow more and more. Although there are a lot of job ads out there unless you are moving to the same field it takes months to get through any process for a new job. Taken from themoneycharity.org.uk

Found out today as well in America student loan payments and interest accrual has been frozen throughout covid. This freeze comes off federal loans on the 1st of May. This will be another smack to the consumer although not the UK, it will make a difference to asset prices I am sure. 

[Minimalist]

10 hours ago, GoldDiggerDave said:

My basics in lidi have gone up 20-30%, fuel 34%, energy 54%  can people just blindly absorb these costs will they just go on as normal and just accept having less money and/or get further into debt?  I just can't see how a normal family can sustain £350-£500 extra outgoings per month without a swift rise in wages.

If stealing happens, you cant blame them.

[Petra]

1 hour ago, FlorinCollector said:

@GoldDiggerDave I think the answer is most will borrow more and more. Although there are a lot of job ads out there unless you are moving to the same field it takes months to get through any process for a new job. Taken from themoneycharity.org.uk

Found out today as well in America student loan payments and interest accrual has been frozen throughout covid. This freeze comes off federal loans on the 1st of May. This will be another smack to the consumer although not the UK, it will make a difference to asset prices I am sure. 

Some people obviously have a heck of a lot of debt as there surely must be a lot like me with no credit card debt? Stopped that malarkey  many years ago!

[FlorinCollector]

@Petra Yep credit cards are not good if you are in impulsive buyer or if you cannot keep within your means. I have paid interest one time on a cc and it was 64 quid and it was annoying. I couldn’t deal with that every month.

[FlorinCollector]

Looking at rough figures for a household with £2,100 in credit card debt. With an interest rate of 25.9% which is what my cc would have charged. That would be £45.33 in interest per month if my maths is correct. Or roughly 2oz of silver to for us to understand lol. @Petra

[Petra]

44 minutes ago, FlorinCollector said:

@Petra Yep credit cards are not good if you are in impulsive buyer or if you cannot keep within your means. I have paid interest one time on a cc and it was 64 quid and it was annoying. I couldn’t deal with that every month.

You go down the line of paying off each months … sensible , cheap credit, lasts how many months? Then it all starts to snowball🙁

[GoldDiggerDave]

Credit cards are evil  been there in my younger days.  You get them on the premise for a holiday or emergency and before you know it, you are leaning on them for the MOT, insurance etc many now are 39.9% interest.  Credit cards have always been a very expensive form of borrowing.  
 

Best to have your fingers burned with these when you are young, you will stay well clear of them after that, I remember picking up a nettle bush as a kid only did that once, same for fire walking in my green plastic frog wellington boots! 

[CANV]

some debt is great.  mortgage at 6 per cent below official inflation.  12 behind real inflation. 

credit cards, payday loans all terrible.   though the biggest thing I see youth wasting their money on is cars..  

I told both my brats when they got mobile to only buy a (hopefully) reliable old banger. as they would crash it or someone would hit it due to their s**** new driver parking...

when they had a few more bob and needed a reliable car for work I again said.. lease a 1.2 petrol Nissan/vauxhall  type thing that would last 100 k miles and do 60 to the gallon.  

they both did. they both bought em at the end of the lease deals..  both still going. minimal tax insurance maintenance, never went wrong ..  tyres 60 quid. 

 my mates kids are pissing money out of the window on German leased s****

[GoldDiggerDave]

@CANV The best car I ever had was a £20 Rover 216 gsi was a bit of a banger buy still lasted me 3 years parked it anywhere was not bothered if it got another scratch or dent.   

Car finance has always been a mechanism to generate debt. You have educated your kids well.   

[Paul]

1 hour ago, GoldDiggerDave said:

@CANV The best car I ever had was a £20 Rover 216 gsi was a bit of a banger buy still lasted me 3 years parked it anywhere was not bothered if it got another scratch or dent.   

Car finance has always been a mechanism to generate debt. You have educated your kids well.   

This popped straight into my head how some would react being told what to do with their money 💸💰

 

 

[ady]

On 15/04/2022 at 20:01, GoldDiggerDave said:

The same 1 litre of milk tonight             £0.50p in Feb now £0.65p         30% increase 

The same jar of coffee                           £1.89 in Feb now £2.09              10.5% increase

Butter                                                      £1.79 in Feb now £2.09               16.75% increase        

Cheap bread                                           £0.36p in Feb now £0.45            25% Increase

 

And what is the government pretending inflation is running at?  

 

 

You are buying the wrong items stupid!