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One in three families

Could you pay your rent/mortgage?  

41 members have voted

  1. 1. Could you pay your rent/mortgage?

    • For 3 months
      9
    • For 6 months
      5
    • For 9 months or longers
      27


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One in three families in England could not pay their rent or mortgage for more than a month if they lost their job, a study for the charity Shelter suggests.

 

I find this very difficult to believe.

 

The online YouGov survey questioned 8,381 adults, including 1,581 members of working families with children.

 

It concluded that 37% of such families would be unable to cover their housing costs for more than one month with no job, while 23% said they would be unable to pay their housing costs at all.

 

Some 48% of families in the survey named the cost of housing as the biggest drain on their budget, the charity reported.

 

http://www.bbc.co.uk/news/uk-england-37017254

Edited by El Cid

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I have no doubts about this at all. A lot of people have no savings at all.

 

The worst thing is there will be plenty who are maybe slightly better off but only 2 or 3 months breathing space.

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I find it very easy to believe.

 

Me too ..........

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Majority of folk live hand to mouth so i find this very easy to believe and rather sad..

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I grew up in a household where the next mortgage payment always was a struggle. It made me very conscious of the fact that saving up and living within your means is in fact useful.

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I'd be interested to know what other factors come into play - what other monthly expenses they have for example and how necessary they are.

 

I've known people, once they get a new place, then use their savings or pay monthly for new TVs and furniture, so they have absolutely nothing going into savings for a rainy day.

 

When I bought my house, we used existing or second hand furniture. We lived frugally, we didn't subscribe to Sky for a good year or two until we'd built up some savings to fall back on.

 

But now I see people who get a new place and then want to fill it up with new stuff.

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I'd be interested to know what other factors come into play - what other monthly expenses they have for example and how necessary they are.

 

I've known people, once they get a new place, then use their savings or pay monthly for new TVs and furniture, so they have absolutely nothing going into savings for a rainy day.

 

When I bought my house, we used existing or second hand furniture. We lived frugally, we didn't subscribe to Sky for a good year or two until we'd built up some savings to fall back on.

 

But now I see people who get a new place and then want to fill it up with new stuff.

 

That is something that worries me as well, a young couple we know got a new house through the government first time buyer scheme, lovely house but they had no furniture. Within 2 weeks the house was full of nice furniture, two 50" tellies, Sky TV with the biggest broadband package and so on. All bought on credit.

 

Fortunately they both have decent jobs and work incredibly hard for what they have, so I have faith that if they keep that up it will all be paid down soon enough, but their ethos, as that of many young people these days, seems to be that it is fine to have a significant debt.

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One in three families in England could not pay their rent or mortgage for more than a month if they lost their job, a study for the charity Shelter suggests.

 

I find this very difficult to believe.

 

The online YouGov survey questioned 8,381 adults, including 1,581 members of working families with children.

 

It concluded that 37% of such families would be unable to cover their housing costs for more than one month with no job, while 23% said they would be unable to pay their housing costs at all.

 

Some 48% of families in the survey named the cost of housing as the biggest drain on their budget, the charity reported.

 

http://www.bbc.co.uk/news/uk-england-37017254

 

I read the article earlier. I'm not sure why it's so difficult to believe though.

 

I assume that it's 1/3rd of people who don't own a home outright though, so that's not 1/3rd of all adults as many older adults own their own home and have no monthly bill to pay.

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More than 1/2 of tenants can't pay their rent as it is. With the majority of tenants receiving some form of housing benefit/LHA to help them pay their rent.

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More than 1/2 of tenants can't pay their rent as it is. With the majority of tenants receiving some form of housing benefit/LHA to help them pay their rent.

 

Not that I'm always suspicious of any 'facts' you provide, but where's the source for this?

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Currently 6 months but there have been times when I have been hanging about waiting for banks to open to move money from point A to point B to keep very demanding wolves from the door. We are circling the wagons at tinfoil towers ready for the upcoming financial apocalypse so there is no large expenditure because I'm not going through that again.

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