Debts

[jabbawokkie]

i a pension since i was bout 18 i think i get 12 grand a year when i retire at 65 .i only pay 24 pound a month .Thats for first five years and there after i think .though will see what happens if i die

can i just say if you have had any loans check the ppi .i checked mine and on one account i got 2 grand back .ok they took almost 600 pound for doing it but i was only on phone for ten mins and cash was in me bank a month later

 

[jackabina]

Agree about the pension Edd. Unless you're a policeman, or work for the NHS, stick it under your mattress

Worst idea ever, it will just be inflated away. At the very least buy some premium bonds or get an ISA at least you will offset the loss on inflation.

It certainly is not the worst idea ever, and I didn't literally mean stuff it under the mattress. As far as i'm concerned, there are too many bastards out there after my hard earned money.
Unless you have a serious amount of money, interest rates are neither here nor there.
The best thing to do is enjoy your life. If on my death bed I owe no money to anyone and have £1 in the bank, i'll be happy. What is the point of leaving £1000's in the bank for you family if in order to do that, you've had to go without at a time in your life you should be enjoying it.

A high interest savings account is ok, but most pensions a big waste of time.
If you worry about how much mars bar will cost you 20 years, you worry too much.

 

[Jez]

People think of debt as a four letter word.
Some debt can be counted as good debt. For example, my credit card pays me £5 every month for just spending £300. Thats easily done in the family food shop. I just use the credit card and the standing order settles it. Happy days. The bank pay me for having credit. The same goes for 0% Finance, fantastic. You buy a car on 3 years 0%, put the money in an ISA, earn interest and pay off the car 3 years later, having earned a bit of interest.

The thread seems to have veered towards pensions.
True the Police, NHS & Military pensions are amongst the best around but they are changing. My military pension was set to be very good, (i'd say i've earned it) but as of 2015 things are changing for the worst. We get protected rights for everything up until 2015 (for me 18 years) but from then on the pension isn't as good. Essentially the senior officers and politicians who are all set to leave before then are ok. They have just left the rest of us to rot. Military morale is at an all time low, i see plenty of people leaving in the next few years, as they feel it's just no longer worth it. I however will still stay in, as i believe that i have one of the coolest jobs around. 8)

 

[CRAZYHAZY]

With regards to the Police pensions they are great, when you consider a sergeant and a constable can retire after 30 yrs Police service, to my mind they deserve every penny.
But you don't get it handed on a plate. I was a Police officer with Merseyside Police for 7 years until i left 28/12 last year for personal reasons.(nothing dodgy i may add :lol: )
During those years ive been punched and kicked half to death had a number of knives pulled on me, seen some of the most horrific injuries and deaths(some murders), dealt with rapes, had bag heads throw needles at me,death threats and had a shotgun shoved in my face.
The home office do not contribute a penny to our pension and every month £300 of my hard earned cash was taken from my wages. we had to pay a massive amount into it.
I managed to carry my civil service pension over so it has equated to approx 17 years Police pension.
which i will get when im 60. I will get a non-indexed linked pension which equates to approx 12000 a year.
The government are now ****ing with our pension as well as everyone else, they have the Police over a barrel,as they know we can't strike.(which makes sense really)
I am in total support of the army/teachers/NHS and feel for them ,the government just live in cloud cuckoo land :roll:

 

[Jez]

Totally agree. My Dad was a Policeman until retirement age. He still keeps an eye on things and tells me how things have now gone down the shitter.
Bloody politicians. About time they rolled their sleeves up and.... no wait they can't, that sounds like to much hard work!

 

[Jez]

During those years ive been punched and kicked half to death had a number of knives pulled on me, seen some of the most horrific injuries and deaths(some murders), dealt with rapes, had bag heads throw needles at me,death threats and had a shotgun shoved in my face.

The things we do for our fellow countrymen! I hope you are ok and haven't been too affected by your experiences

 

[CRAZYHAZY]

Same for you too mate.
Believe it or not i loved my job, just as you love yours, its just that the wife was constantly worried for me and to be honest with all the shifts , nights etc we hardly had a social life.

I may try to get reinstated later in the year as things have not worked out as well out of the force as i hoped.

Neil

 

[Jez]

I may try to get reinstated later in the year as things have not worked out as well out of the force as i hoped.

That is so often the way i'm afraid. Fingers crossed you turn a corner.

I'm keeping my options open. The Mrs is happy enough and actually loves the community spirit which we have on Station. The day she tells me she has had enough, i'm pressing the button. Until then, i'll enjoy the buzz (and bullshit)

 

[2stripes]

Interesting thread..

My debts over the last 5 years since I split with my Boys mum can be roughly correlated with being single..debts go down in a relationship...debts go up! :lol:

Dating students is an expensive business. Anyway I'm settled in a good place with someone now and with my debts peaking last October at about 10K after a previous relationship being too flash with a money grabbing ex who owed me a lot of cash I had a word with myself and started paying it off. I've cleared it down to about 6K now. It was flying down (I have a flat on a good rent and don't drive so my outgoings aren't too much and having been a student, I can live off practically nothing if I have to!) Then 3 months ago I met my lady friend and I've hit a bit of a wall again. This time though its not going back up again and she's supportive and wouldn't let me go near a credit card, least of all for her so after a couple of months of being carefree as you do at the start of a relationship, I'm knuckling down again and hope to get most of it cleared off by the end of the year. Then to move out of the 2 bed flat and start looking for a 3 bed house so I'll still be skint!

So yeah 6K now and falling again, the interest is very low due to balance transfers etc, I reckon £500 a month should be doable so light at the end of the tunnel, then the cards are being cancelled and I'm staying out of debt forever I hope!