• Welcome to DOSBODS

    Please consider creating a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

Sign in to follow this  
JoeDavola

50% Savings Rates...

Recommended Posts

Just now, Cunning Plan said:

This is just FUCKING outrageous.

Encouraging people to have a bit set aside for emergencies is pretty sensible and the likely payout is small fry. As policies to get pissed off with, this barely even registers for me TBH.

Share this post


Link to post
Share on other sites
Just now, Hail the Tripod said:

Encouraging people to have a bit set aside for emergencies is pretty sensible and the likely payout is small fry. As policies to get pissed off with, this barely even registers for me TBH.

I think what's annoying is that taxpayer's money, ie the money of those who are able to manage their finances and save in the first place, is being used to subsidise those who are too dim to see the benefit of saving money. 

It's basically another government 'wipe your arse for you' scheme. 

Share this post


Link to post
Share on other sites
Just now, Hail the Tripod said:

Encouraging people to have a bit set aside for emergencies is pretty sensible and the likely payout is small fry. As policies to get pissed off with, this barely even registers for me TBH.

It is the signal it sends, rather than the actual amount, that pisses me off.

And if you can save £50 per month, maybe your tax credits are too high?

Or perhaps it is a trap - if 90% of people manage to save, it would be a bloody good argument to reduce the benefits.

Share this post


Link to post
Share on other sites

Hows does that make sense though, if you are receiving tax credits then surely there can be no justification for it to be available to be saved. You get tax credits because you need to money to pay for the essentials of life not sloshing around as extra cash. 

 

 

 

Share this post


Link to post
Share on other sites

I think this new scheme sums up nicely what actual choices you currently have at the ballot box:

New Labour (Conservatives)

The Communist/Nazi Party (Labour)

The European Union Party (LibDem)

The Even more Communist Party (Greens)

The Traditional Conservatives with no leadership Party (UKIP)

I don't vote much these days... You'll get Marxism in one form or another.

Edited by TheNoSnowMan

Share this post


Link to post
Share on other sites
6 minutes ago, Cunning Plan said:

It is the signal it sends, rather than the actual amount, that pisses me off.

And if you can save £50 per month, maybe your tax credits are too high?

Or perhaps it is a trap - if 90% of people manage to save, it would be a bloody good argument to reduce the benefits.

I don't think anyone that clever works in the benefits offices. 

More likely the Banksters have been putting pressure on the civil service to get more people using bank accounts etc. 

Share this post


Link to post
Share on other sites
8 minutes ago, Cunning Plan said:

It is the signal it sends, rather than the actual amount, that pisses me off.

And if you can save £50 per month, maybe your tax credits are too high?

Or perhaps it is a trap - if 90% of people manage to save, it would be a bloody good argument to reduce the benefits.

Maybe they are about right if you save a bit and don't rely on Wonga or similar when an unexpected expense comes up, or can bulk buy a good deal from time to time rather than living hand to mouth all the time. Government pisses money away on counterproductive shit all the time, this seems wasteful but with at least some potential marginal benefit.

Share this post


Link to post
Share on other sites
12 minutes ago, gilf said:

Hows does that make sense though, if you are receiving tax credits then surely there can be no justification for it to be available to be saved. You get tax credits because you need to money to pay for the essentials of life not sloshing around as extra cash. 

Enabling and even encouraging people to accumulate capital is the best way to move people off benefits ultimately.

Share this post


Link to post
Share on other sites
6 minutes ago, Hail the Tripod said:

Enabling and even encouraging people to accumulate capital is the best way to move people off benefits ultimately.

I agree with you (on this and your original comment) however I suspect we differ in our optimism. 

Although I might be more strongly in favour of that statement if it was capital they accumulate from their own efforts rather than being given as a handout. 

I suspect this won't move a single person off benefits, could be wrong.

Edited by gilf

Share this post


Link to post
Share on other sites
11 minutes ago, JoeDavola said:

At the end of the day it's another £300 a year of your money given to those who know how to play the system.

Plenty of people on tax credits do have that amount of money to spare, and they'll be savvy enough to be taking full advantage of this.

As I said before, I've spent 12 years in a sometimes stressful industry, and before that 4 years working to get a good degree.

My mate fucked about for those 16 years, and works 3 shifts a week at a min. wage job. He has 2 kids, a wee council house, takes foreign holidays, is able to spend plenty of money and time on his hobbies...

...by doing 3 shifts @ min wage.

I texted him the other afternoon and he'd finished work at 1pm and was sitting playing videogames with his kids, while the rest of the world are either still in work or stuck in commuter hell. He doesn't have a care in the world. And ya know what, fair play to him. I wish I had his attitude to life.

It seems obvious to me what this country is set up to encourage, and if you're working a stressful job then unless your earning an absolute fortune you're a fucking chump.

I don't have kids so subsequently get a big fat zero in bennies. 

That said, you can fight the system by a. minimising (legally) the amount of money you pay in tax and b. restructuring your life in order to exploit the system (this is obviously much easier if you don't have kids).

Eg I got out of the London rat race, bought a cheap place in the country and built up an online business which doesn't pay a huge amount but is enough to live on comfortably if I live frugally. So I don't have to pay massive amounts of rent/mortgage, commuting costs etc. I've already had a great cheap holiday this year (cost about £400 for a fortnight in the sun through budget airline and air bnb) and I'm planning two more this year already. 

Edited by Austin Allegro

Share this post


Link to post
Share on other sites
3 minutes ago, gilf said:

I agree with you (on this and your original comment) however I suspect we differ in our optimism. 

I imagine the number of people who don't routinely save who successfully claim this cash benefit will be vanishingly low, but anything with even a marginal benefit rather than a catastrophic worsening is a win.

3 minutes ago, gilf said:

Although I might be more strongly in favour of that statement if it was capital they accumulate from their own efforts rather than being given as a handout

I suspect his won't move a single person off benefits. 

Tax credits go to people with poorly paid jobs, not no jobs don't they? I share the misgivings to some extent, but I can imagine most people trying to save for this scheme but periodically using the money for emergencies and failing to claim the £600 carrot. Which would demonstrate the utility of saving at minimal cost. 

I don't see why it should be limited to people in receipt of benefits though, it should be limited to people with no pre-existing savings.

I can imagine running a similar scheme (minus the tax credits stricture) for my sons when they start work.

Share this post


Link to post
Share on other sites
11 minutes ago, Hail the Tripod said:

I imagine the number of people who don't routinely save who successfully claim this cash benefit will be vanishingly low, but anything with even a marginal benefit rather than a catastrophic worsening is a win.

Tax credits go to people with poorly paid jobs, not no jobs don't they? I share the misgivings to some extent, but I can imagine most people trying to save for this scheme but periodically using the money for emergencies and failing to claim the £600 carrot. Which would demonstrate the utility of saving at minimal cost. 

I don't see why it should be limited to people in receipt of benefits though, it should be limited to people with no pre-existing savings.

I can imagine running a similar scheme (minus the tax credits stricture) for my sons when they start work.

That's correct, although unless the tax credits are below £50 a month then all the money saved under this scheme will have come as a result of receiving the tax credit in the first place.

But anyway I've no desire to argue with you as I say I broadly agree, any opposition comes from a rather jaded position based on my own personal experience of people I know on benefits. Equally those people wouldn't be saving the money anyway so it's rather a moot point. 

Totally agree on the second highlighted point. 

 

Edited by gilf

Share this post


Link to post
Share on other sites
31 minutes ago, Hail the Tripod said:

I can imagine running a similar scheme (minus the tax credits stricture) for my sons when they start work.

Funnily enough that is exactly what I am doing with my son. For every £ he saves by August, I will convert it to $ at 1:2 for his US college spending fund.

Bugger is he earned £190 yesterday alone so this might not have been my best plan!

I am praying the exchange rate keeps improving.

Share this post


Link to post
Share on other sites
1 hour ago, JoeDavola said:

At the end of the day it's another £300 a year of your money given to those who know how to play the system.

Plenty of people on tax credits do have that amount of money to spare, and they'll be savvy enough to be taking full advantage of this.

As I said before, I've spent 12 years in a sometimes stressful industry, and before that 4 years working to get a good degree.

My mate fucked about for those 16 years, and works 3 shifts a week at a min. wage job. He has 2 kids, a wee council house, takes foreign holidays, is able to spend plenty of money and time on his hobbies...

...by doing 3 shifts @ min wage.

I texted him the other afternoon and he'd finished work at 1pm and was sitting playing videogames with his kids, while the rest of the world are either still in work or stuck in commuter hell. He doesn't have a care in the world. And ya know what, fair play to him. I wish I had his attitude to life.

It seems obvious to me what this country is set up to encourage, and if you're working a stressful job then unless your earning an absolute fortun a top banker you're a fucking chump.

 

Edited by twocents

Share this post


Link to post
Share on other sites
59 minutes ago, Austin Allegro said:

I don't have kids so subsequently get a big fat zero in bennies. 

That said, you can fight the system by a. minimising (legally) the amount of money you pay in tax and b. restructuring your life in order to exploit the system (this is obviously much easier if you don't have kids).

Eg I got out of the London rat race, bought a cheap place in the country and built up an online business which doesn't pay a huge amount but is enough to live on comfortably if I live frugally. So I don't have to pay massive amounts of rent/mortgage, commuting costs etc. I've already had a great cheap holiday this year (cost about £400 for a fortnight in the sun through budget airline and air bnb) and I'm planning two more this year already. 

Aye I don't have a car, 10 min walk to work, and rent a nice flat that's no bigger than what I need. So I can sit in a relatively low stress job and be OK financially.

I'm not doing badly, but it still boils my piss to see stuff like this.

Share this post


Link to post
Share on other sites
1 hour ago, Hail the Tripod said:

Enabling and even encouraging people to accumulate capital is the best way to move people off benefits ultimately.

Then remove all income tax for the first 100k earned.

 

Much simpler and fairer.

Share this post


Link to post
Share on other sites
1 hour ago, gilf said:

Hows does that make sense though, if you are receiving tax credits then surely there can be no justification for it to be available to be saved. You get tax credits because you need to money to pay for the essentials of life not sloshing around as extra cash. 

 

 

 

Precisely

I resent being taxed to enable other people to save my money

for them to spend on holidays, a new car, a single fag or drop of beer, or a single TV license or new mobile phone

 

Edited by Hopeful

Share this post


Link to post
Share on other sites
35 minutes ago, Cunning Plan said:

Bugger is he earned £190 yesterday alone so this might not have been my best plan!

He's taking a big risk trading that level of income in for a degree.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.