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Financial literacy

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By *heGateKeeper OP   Man
over a year ago

Stratford

How good are you at managing money?

How have the last year been for you financially? Have you been able to pay off debt, boosted your savings or have you accrued debt you didn’t previously have due to the uncertainty?

Are you surprised at home much money you have left at the end of the month now you aren’t topping up the profits at Costa and Pret?

I used to be terrible with money (I kind of still am) but in the last year I’ve been able to clear the balance on two of my cards which I’m incredibly proud of. It’s been a long process and it’s taken a lot of reflection, learning, introspective critique and habit changes but I’m incredibly proud of where I’ve got to, and where I’m heading towards.

The next step is to boost my emergency fund and be completely debt free by the end of the year, which is achievable given the way it looks like my work life balance is heading

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By *manaWoman
over a year ago

Basingstoke

I now use dave ramseys methods and it's been a godsend. Financially I am in a comfortable position now, all thanks to dave

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By (user no longer on site)
over a year ago

I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter.

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By *ilkandhoneyxWoman
over a year ago

leicester

i’m shit with money, still thousands in debt lmao

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By *ad NannaWoman
over a year ago

East London

My children manage to spend my money very well.

I'm not in debt and not starving, so, I'm all good.

I've been helping one of my children out during lockdown, as she was only working 2 days every fortnight at first, then got a new job, and is a single parent with no help from the dad.

I'm frequently skint, because of helping my children, but I'm happy.

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By *manaWoman
over a year ago

Basingstoke


"My children manage to spend my money very well.

I'm not in debt and not starving, so, I'm all good.

I've been helping one of my children out during lockdown, as she was only working 2 days every fortnight at first, then got a new job, and is a single parent with no help from the dad.

I'm frequently skint, because of helping my children, but I'm happy.

"

Love this! Xx

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By *manaWoman
over a year ago

Basingstoke

To reiterate... I love how good a mum you are not that you're skint! x

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I now use dave ramseys methods and it's been a godsend. Financially I am in a comfortable position now, all thanks to dave "

The debt snowball was actually how I paid off the cards. I’d previously tried the debt avalanche method to no avail and ended up frustrated and buying more shit I didn’t need

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter. "

That’s amazing (both that you’re doing well and that you left)

Did you manage the finances in the relationship too or was it all new to you?

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By *heGateKeeper OP   Man
over a year ago

Stratford


"i’m shit with money, still thousands in debt lmao"

Has it changed either positively or negatively in the last year? Why do you think you’re shit with money?

I know I’m too generous and pay everything for everyone leaving myself with fuck all

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By *heGateKeeper OP   Man
over a year ago

Stratford


"My children manage to spend my money very well.

I'm not in debt and not starving, so, I'm all good.

I've been helping one of my children out during lockdown, as she was only working 2 days every fortnight at first, then got a new job, and is a single parent with no help from the dad.

I'm frequently skint, because of helping my children, but I'm happy.

"

I’d break my self imposed Costa ban for you

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By *inky_couple2020Couple
over a year ago

North West

We've made inroads into credit cards we had to take out after we lent my mother many thousands of pounds that she didn't pay back. We've definitely benefited from working at home for a year now, no/few travel costs, our daughter became 3yrs old at the start of the pandemic so nursery fees reduced (all 3yos get some Govt funding irrespective of income) and we aren't doing stuff at weekends that costs money. Also no holiday or weekends away to spend money on.

Well aware we are very lucky. We've invested some of savings in home improvements that were desperately overdue.

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By (user no longer on site)
over a year ago

I'm good with money.

I've been at the shitty end with fuck all to my name, a loaf of bread and 3 tins of beans to last 3 days in the middle of winter with no heating as I was too skint to put it on.

That made me budget hard and its always stuck with me.

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By *urls and DressesWoman
over a year ago

Somewhere near here

I’ve made a huge u turn in the past year with money, I just seem to have more and manage it better. I’m not in any debt except a car loan, I don’t have credit cards or loans etc. But by the end of the month I’m not longer scrimping and wondering how I’m going to put food on the table.

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By *pursChick aka ShortieWoman
over a year ago

On a mooch

I’ve had nothing coming in and everything going out this last year. I was lucky no debt and redundancy to live off at the start.

When you’ve been on the bad end of money management you soon learn and I’ve been managing it successfully for 20 years, you never go back there.

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By *heGateKeeper OP   Man
over a year ago

Stratford


"We've made inroads into credit cards we had to take out after we lent my mother many thousands of pounds that she didn't pay back. We've definitely benefited from working at home for a year now, no/few travel costs, our daughter became 3yrs old at the start of the pandemic so nursery fees reduced (all 3yos get some Govt funding irrespective of income) and we aren't doing stuff at weekends that costs money. Also no holiday or weekends away to spend money on.

Well aware we are very lucky. We've invested some of savings in home improvements that were desperately overdue."

that’s something else that stung me, being too generous to family members although I live by the rule don’t give it if you can’t afford to lose it, you still don’t expect people to take the piss

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By *stbury DavenportMan
over a year ago

Nottingham

I'm okay with money. No debts, a little saved. I don't know how to make my money work *for* me, though, so I don't feel able to claim financial literacy.

I've *been* poor in the past, though. I know what it's like to be cold, hungry, and sleep on floors. I've only avoided homelessness through the charity of others. All through no fault of my own.

Things are better now, but living with no safety net is fucking scary. Late-stage capitalism is a nightmare.

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I'm good with money.

I've been at the shitty end with fuck all to my name, a loaf of bread and 3 tins of beans to last 3 days in the middle of winter with no heating as I was too skint to put it on.

That made me budget hard and its always stuck with me.

"

Budgeting was difficult for me at first but moving all my DDs to the first of the month and reviewing all my outgoings helped massively.

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I’ve made a huge u turn in the past year with money, I just seem to have more and manage it better. I’m not in any debt except a car loan, I don’t have credit cards or loans etc. But by the end of the month I’m not longer scrimping and wondering how I’m going to put food on the table."

Well done. It’s a great feeling isn’t it

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By (user no longer on site)
over a year ago


"I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter.

That’s amazing (both that you’re doing well and that you left)

Did you manage the finances in the relationship too or was it all new to you?"

I tried to manage the finances while my ex spent money willy nilly without thought for anyone else.

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By *inky_couple2020Couple
over a year ago

North West


"We've made inroads into credit cards we had to take out after we lent my mother many thousands of pounds that she didn't pay back. We've definitely benefited from working at home for a year now, no/few travel costs, our daughter became 3yrs old at the start of the pandemic so nursery fees reduced (all 3yos get some Govt funding irrespective of income) and we aren't doing stuff at weekends that costs money. Also no holiday or weekends away to spend money on.

Well aware we are very lucky. We've invested some of savings in home improvements that were desperately overdue.

that’s something else that stung me, being too generous to family members although I live by the rule don’t give it if you can’t afford to lose it, you still don’t expect people to take the piss "

At the time I was asked for the money, I didn't feel like I had a choice. We couldn't really afford to lose it in the long term. I now know more about my mother's financial (and other) behaviour. She won't get a single penny from me ever again.

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By (user no longer on site)
over a year ago


"I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter. "

This is a common story (well common to me!) amongst a lot of women who have had to strike out alone after a relationship

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I'm okay with money. No debts, a little saved. I don't know how to make my money work *for* me, though, so I don't feel able to claim financial literacy.

I've *been* poor in the past, though. I know what it's like to be cold, hungry, and sleep on floors. I've only avoided homelessness through the charity of others. All through no fault of my own.

Things are better now, but living with no safety net is fucking scary. Late-stage capitalism is a nightmare. "

That’s the end game for me.... making my money work for me but I also feel like it’s a long game and so many get stung with get rich quick scheme.

The lack of a safety net is worrying. They ‘suggest’ keeping an emergency fund which is separate to other savings of 3-6 months of the cost of being you which is what I want to have by this time next year all being well.

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter.

That’s amazing (both that you’re doing well and that you left)

Did you manage the finances in the relationship too or was it all new to you?

I tried to manage the finances while my ex spent money willy nilly without thought for anyone else. "

Common occurrence it seems. Money attitudes are so important in finding a partner

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By *heGateKeeper OP   Man
over a year ago

Stratford


"We've made inroads into credit cards we had to take out after we lent my mother many thousands of pounds that she didn't pay back. We've definitely benefited from working at home for a year now, no/few travel costs, our daughter became 3yrs old at the start of the pandemic so nursery fees reduced (all 3yos get some Govt funding irrespective of income) and we aren't doing stuff at weekends that costs money. Also no holiday or weekends away to spend money on.

Well aware we are very lucky. We've invested some of savings in home improvements that were desperately overdue.

that’s something else that stung me, being too generous to family members although I live by the rule don’t give it if you can’t afford to lose it, you still don’t expect people to take the piss

At the time I was asked for the money, I didn't feel like I had a choice. We couldn't really afford to lose it in the long term. I now know more about my mother's financial (and other) behaviour. She won't get a single penny from me ever again. "

I took the same approach. I won’t lend that person £20 now. Not cos I can’t afford it, but out of principle

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By *heGateKeeper OP   Man
over a year ago

Stratford


"I've always been good with money.

I left an abusive relationship about 2 years ago, I left with just over £100 to my name. Now, I usually have at least a £1000 spare. Lately my ex has given up paying maintenance which was £80 a week and I can still afford a comfortable life for me and my daughter.

This is a common story (well common to me!) amongst a lot of women who have had to strike out alone after a relationship"

Were you the money manager in the relationship?

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By (user no longer on site)
over a year ago

I'm fairly crap with cash but lockdown has brought out a bit of shrewdness in me as well as a little debt but all is quite manageable with some cash savings to boot.

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By (user no longer on site)
over a year ago

This year has financially fucked me

But it's taught me the lesson that I don't really need anymore stuff.

So I'm learning how to be better with money - which is difficult.

I didn't realise how expensive everything was - even essentials like food.

I have much more respect now for families that have to provide for children with little money.

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By *os19Man
over a year ago

Edmonton

Before 1992 I was youngish and reckless with money and found myself unemployed for 6 months and very quickly found myself in a bit of debt.After finding a job late 1992 I started to save a third of my wages a third for bills and a third for me. Although I have a overdraft I have used it once and that was by accident so I was reimbursed and I had a Santander 123 credit card once for a year but was unable to take advantage of the adds with it so once the year ended I gave it back at the branch.If I can’t afford to pay for it in cash or have the savings for it I don’t buy it.

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By *eliWoman
over a year ago

.

I'd say I'm fairly good - I put myself through an undergrad and a Masters with little help (one month of rent paid when I was in hospital) by working in a nightclub, later a bar and then as a PA. I didn't particularly have a choice, I either learned how to budget or landed myself into debt.

Now I'm 31 with no debt, no student loans and a mortgage (admittedly that's in part to my partner's salary!). The last year I've saved a small fortune in diesel, no coffees from Cafe Nero or lunches out because I wanted to catch up with friends, manicures, getting the 'fro blowdried, all the little things that soon mount up.

I remember when I was little and my Mum was still doing her training and we were poor poor - the only reason I had the education I did was because of a music scholarship. I think because of my upbringing I've been so keen to avoid a repeat of that and sometimes I border on thrifty.

The savings I've made this year have gone into my shares and also mean I have a good security blanket in case anything happens. It also means that (fingers crossed) when it comes to me taking maternity leave, we can still live comfortably.

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By (user no longer on site)
over a year ago


"I'm good with money.

I've been at the shitty end with fuck all to my name, a loaf of bread and 3 tins of beans to last 3 days in the middle of winter with no heating as I was too skint to put it on.

That made me budget hard and its always stuck with me.

Budgeting was difficult for me at first but moving all my DDs to the first of the month and reviewing all my outgoings helped massively. "

I have 2 bank accounts. One that my wage goes into and the bills come out of. Another for my spending money- food, petrol, clothes etc.

That way my bills account has enough to cover the bills. I also set up text alerts for when my spending money account gets below a certain amount.

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