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Thread: Why Am I Still Poor?

  1. #1
    Senior Member mariesgame's Avatar
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    Default Why Am I Still Poor?

    I thought I'd join in on the 'save $10,000' on here only I decided just to see if I could make that at all as a starting point.
    It's been going well, I'm currently on about £6,000 (change of currency I know) but I'm still in exactly the same position as before.
    I had a £2,000 overdraft to pay off which I actually have been out of, but I'm back into it now by £1,000. I can't understand where the money's gone. I've been keeping a detailed spreadsheet and I can see literally where everything has gone but I just don't really understand it - the only large amount of money I spent is £1,000 on a new laptop.
    Last year I was a student and got a loan of 3 grand every 4 months or so.. and I was absolutely fine. So how have the last 3 months cost me £5,000? Is that seriously the cost of living? (albeit like a stripper)
    sexy motherfucker!




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    Veteran Member cairalis's Avatar
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    Default Re: Why Am I Still Poor?

    I dont really understand...did you save £6000 this year? Or is that your savings from before? Whatever it is it is really great!

    Remember: you live in London...one of the most expensive places to live in the world! You make more money there perhaps but life is alsp so expensive! I think £5000 in 3 months is really not much if you live in London, I probably spend that or more in 3 mths and I live in the north...!
    If you keep track of all your spendings then you can see where the money goes...I dont know if you eat out a lot or treat yourself to Starbucks every other day, taking taxis instead of public transport etc...changing small every day things like this really make a huge difference in the end! Good luck dear!

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    Banned Melonie's Avatar
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    Default Re: Why Am I Still Poor?

    Daily Mirror story out today that UK food prices are inflating at 3.5% this month versus 3.4% last month. Gasoline prices are higher everywhere and much higher in areas like the UK that are dependent on North Sea crude. Rising taxes cause a double whammy of direct taxes on earnings plus indirect pass-on of business taxes via higher prices for virtually everything. And rising UK utility bills ( thanks in part to green energy directives ) have had a major impact, again both direct and indirect. And to top it all off, B of E money printing policy is again eroding the 'purchasing power' of the UK pound, making the UK pound denominated price of all global commodities increase automatically.

    If there's any 'bright side' to this, it's that the notably higher UK price inflation, the notably higher UK taxes, and the notably more severe loss of 'purchasing power' have been sufficent to draw your attention that things are changing for the worse ... and undoubtedly the attention of many other Brits as well. All of these trends are also taking place in the USA, but the slightly lower rates at which they are happening means that not many Americans are paying attention ... a la the proverbial 'frog in a pot of boiling water'- if you raise the temperature slow enough, the frog doesn' realize what's happening until he's cooked.
    Last edited by Melonie; 04-19-2012 at 12:16 PM.

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    Featured Member Incantatious's Avatar
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    Default Re: Why Am I Still Poor?

    I can't get over how much the prices of food have gone up here. If you kept a steely eye on food prices whilst you're shopping, you'd be quite a bit better off.
    Lidls and Asda it dude! x




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  6. #5
    Senior Member mariesgame's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by cairalis View Post
    I dont really understand...did you save £6000 this year? Or is that your savings from before? Whatever it is it is really great!
    No it's just my earnings since the start of this year. This doesn't include any money taken off for travel, house fee and work supplies (food + makeup). Let alone bills and rent. But none of those are that expensive. I just can't believe how quickly it's all mounted up - I'm normally really good with money!
    sexy motherfucker!




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    Featured Member Jessica1001's Avatar
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    Default Re: Why Am I Still Poor?

    How much did you expect to have saved by now?

    If you made only 6000 pounds since the beginning of the year, and now it's April 20, that translates to a salary of only 32k usd. If you live in London, I'm not surprised you have not been able to save anything, on that income. You'd have to be living like a pauper.

  8. #7
    Senior Member mariesgame's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by Jessica1001 View Post
    How much did you expect to have saved by now?

    If you made only 6000 pounds since the beginning of the year, and now it's April 20, that translates to a salary of only 32k usd. If you live in London, I'm not surprised you have not been able to save anything, on that income. You'd have to be living like a pauper.
    Thanks for the positivity!

    Anyway, spent the last few days putting together a monster spreadsheet and looking at all my bank transactions and I've realised my main problem. Because the job is cash in hand, I'll often keep £40 and put the rest in the bank, or pay for stuff with it like car repairs etc. Having looked at all the figures there's approximately £2000 that never even touched my bank account.

    The next thing is house fee. It's only £15 a night in my club. Because it's not very much, I haven't been tallying it properly. I haven't deducted it from the income each night until after I've put in the income into my spreadsheet - which means that what comes up as a total of about £7,000 (this is an updated amount as I have been working since I made the original post) should actually only be £6,500. The remaining £500 went straight back to the club as house fee before I even got my cash in my bag.

    The final big money drainer is my car. I drive my car 60 miles to work every night, and then 60 miles back. In my mind I have only been paying for fuel, and have neglected to consider tax, M.O.T, parking, congestion charges, fines (it's London - they're inevitable) and repairs. This has drained a further £1,000 of my resources.

    So it's no wonder.

    Impressively, I've spent less than £200 a month on luxuries I don't need.
    I don't buy food at the moment much because I live with my sister although I'm moving out at the end of the month which will increase my rent and food costs but seriously lower the cost of the car.
    I'm going to be much more strict with paying my money in from now on. And only look at my figures once I've deducted my house fee!
    sexy motherfucker!




  9. #8
    Veteran Member cairalis's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by mariesgame View Post
    The final big money drainer is my car. I drive my car 60 miles to work every night, and then 60 miles back. In my mind I have only been paying for fuel, and have neglected to consider tax, M.O.T, parking, congestion charges, fines (it's London - they're inevitable) and repairs. This has drained a further £1,000 of my resources.
    wow...having a car is such a big expense...! did you consider going to work by public transport? it would save you a lot of money!

    keep up the good work! it seems you have it under control...!

  10. #9
    Senior Member mariesgame's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by cairalis View Post
    did you consider going to work by public transport?
    of course, but the only real way is by train, and that's actually more expensive than driving. thanks for that national rail.
    sexy motherfucker!




  11. #10
    Veteran Member cairalis's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by mariesgame View Post
    of course, but the only real way is by train, and that's actually more expensive than driving. thanks for that national rail.
    really?! thats just wrong...!

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    Default Re: Why Am I Still Poor?

    I know what you mean, mariesgame. Even while halving the bills with my SO, things add up so quickly. I'm about to just give up and work at a shitty club closer to home so that I'm not spending $20 in gas and two hours just to get to work. Jeesh...

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    God/dess Sophia_Starina's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by mariesgame View Post
    I just don't really understand it - the only large amount of money I spent is £1,000 on a new laptop.
    Last year I was a student and got a loan of 3 grand every 4 months or so.. and I was absolutely fine. So how have the last 3 months cost me £5,000? Is that seriously the cost of living? (albeit like a stripper)
    Living like a stripper means what exactly?

    I'm a huge advocate for living well beneath your means while stripping. Just because you are making more money it does not mean you should spend more money. Prioritize your expenditures and save, save, save.
    Quote Originally Posted by Jay12 View Post
    ^What Sophia said.
    Quote Originally Posted by yoda57us View Post
    I wish there was an "auto-like" setting that I could just have applied to all of your posts Sophia....

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  15. #13
    Veteran Member cairalis's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by BringOnTheMen View Post
    +1

    Also, I'm not sure what the cost of living is in London but I've heard it's just as high if not higher than SF, in which you literally cannot survive on $5k/3 months. I think that's actually our minimum wage here. And I don't know anyone who makes minimum wage that can afford a car, much less "live like a stripper."
    £5000 is probably around 8000 USD

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    Veteran Member cairalis's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by BringOnTheMen View Post
    I thought that in the UK things cost the same dollar/pound amount? Like, a $1000 apartment here would cost 1000 pounds in London?

    Regardless, $8000 is still not a lot of money for 3 months. Where I live it would be enough to get by but not enough to save or indulge in anything extra.
    I cant really answer your first question, it really depends where you are I suppose. I think in general in the UK (outside of London) you get more for £1000 than you would for $1000 in the US...I live in the north of England and I have a 3 bedroom apt in the city and I pay £700, I doubt you can get a 3 bed in the US for $700...?

    In the UK £5000 in 3 mths is def more than minimum wage though, people make as little as £200 per week working full time!

  17. #15
    Senior Member mariesgame's Avatar
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    Default Re: Why Am I Still Poor?

    Quote Originally Posted by Sophia_Starina View Post
    Living like a stripper means what exactly?
    To be honest, before I really looked at my finances, I thought that I spent a lot of money on eating out, food, and treating myself. Turns out I've actually been spending less than £200 a month on myself.
    sexy motherfucker!




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