Published on 12, July, 2020
Having totaled both my annual income for PIP and the best potential rental income, I still wouldn't cover my expenses. I would still earn less than a Grand a month. (and that would be me making cutbacks)
Hyperinflation always decimates a currency. Our buying power is being stripped. But so many are in debt, they're golddust come election time.
This issue can't be resolved by more earning. It's an existential issue. Getting off the Hamster Wheel is tough, but the rewards are there.
Hi Desmond. I don't know if you claim UC? You've not mentioned in this post. I get UC with LCWRA, but can also do 15hrs/week on top earning just over £500.
The reason I mention UC, is you'd also get a housing allowance. It's never fun to claim, but with me:
PIP = £240
UC (LCWRA) = £700
Housing Element* (in my location) = £650
Earnings* = up to £500
* I don't claim housing allowance at the moment as I live with parents, it's something I will claim when I move out. Earning is potential, I did some temp work before Christmas, but it amounted to £225... I struggle with work.
Just thought I'd highlight as I'm looking at accommodation at the moment, but one of my big issues is it seems to be standard practice that you need 30x the monthly rent, as an annual income, in order to rent???
My annual income would be £19.5k without including wages
The cheapest private rentals in my area are £800... x30 that's £24k... its crazy!!
Mortgage-based economies are always set to fall flat-about-face.
All the houses in my local area are snapped up either by Teachers, or ones returning home from London.
Agreed. I had a mortgage 3+ years ago for a tiny flat in Salisbury.... I ended up losing money on it. I've subsequently checked its size, and seen that in those 3 years it's gone up a whopping £1,000!!
I like the German rental model, and for me, I probably wouldn't buy again, a. It's probably unlikely I'll get a mortgage again, but b. It was a massive stress buying and selling... what is it they say? One of the top 3 stresses?
In Germany its very much renting. And where houses are owned. It tends to be divided by ground floor and first floor. The parents get upstairs, children downstairs. Until such a time when it makes more sense physically to swap.