Wealth - Can't you just feel it?

I’ve just checked and I’m certainly a lot better off than I was at the same time last year. But of course then I was unemployed and wasn’t allowed to claim benefits because I’d been too honest. It’s nice to know the government’s there to support you in times of need, isn’t it?

Ahh – National Insurance – one of those non-optional insurances that really gives you cover…

Posted over 2 years ago by pottytime

I’m poorer than last year but definitely richer than10 years ago, Though I was then a 19 year old on a backpacking working holiday with all my worldly possessions in one bag, you’d hope I’d have achieved a little something since then.

Posted over 2 years ago by Rin

When i moved to london about a year ago I moved from one of the worst paying areas of the country to one of the best. This pretty much doubled my salary overnight. Since then, as no-one else in the country wants to work in my field, prospects look good.

However, I don’t see this as strong economic leadership from Labour, but more that they completely fucked up the educational system. We no longer have native people/employees to do the job of a degree educated ‘professional’ – kind of strange when Tony Blair’s over riding aim at the beginning of his time as prime minister was to get 50% of kids through university. It’s a good job i like kiwis and aussies and saffas, god bless them for keeping our country from grinding to a halt.

Posted over 2 years ago by iAmJonny

I’m definitely better off than 10 years ago, for similar reasons to Rin – I was a student. So I’m guessing they aren’t really referring to people who could expect to have a major change in their income over that period. Even though I’m now on roughly twice what I started on, I don’t feel twice as wealthy. Especially since house prices are double what I could sensibly get as a mortgage, but I’m not prepared to indebt myself to oblivion.

Posted over 2 years ago by CravenMaven

yeah, I’m better off as in I’ve got lots more dosh to spend, I had nothing back then. I was working for the minimum wage back then in a bar, with a few tips on the side.

I don’t necessarily feel it though, as I have not managed to get a house, loads of credit cards that I got to support myself until I actually started earning dosh over last few years… story of London I guess. And I guess I do spend more disposable income on poncey cheeses and bottles of wine.

Depending on what industry you work in, I think there’s been a real chance to earn some money in London over last couple of years, but it’s still expensive to live here, I’m not sure what the Daily Mail means by wealth. If it’s saving, bonds, houses, only some people seem to have this.

Posted over 2 years ago by ellie

Not to defend the Mail or anything, but I don’t think the point is that any one person personally should feel more wealthy than 10 years ago – since we all have about 10 years of education or work experience or dole money behind us, so we should have moved a peg or two up in the world. A more accurate comparison would be between two same-aged people in similar occupations ten years apart.

But pottytime you’ve put your finger on the problem – a lot of this wealth is based on house prices and cheap credit. If your house goes up in value, you don’t have more house, you just have a more expensive house in a more expensive neighbourhood, ie you’re pretty much standing still. You may feel wealthy (which encourages you to go out and buy plasma TVs and double lattes) but that feeling will of course tend to fade if house prices fall or cheap credit goes away, both of which are looking quite possible at the moment.

Posted over 2 years ago by comradem

10 years ago i was 15 – living at home, had my clothes bought for me, my phone bill paid and generally didnt have to pay out for anything. : )x

those were the days my friend we thought theyd never end

Posted over 2 years ago by Twiglet

And given the article was published by Associated the main cause of this rise in ‘wealth’ will be massively inflated housing prices.

So by ‘we’ that’s all those fortunate enough to be on the housing ladder a long time ago.

Posted over 2 years ago by sfm

Yeah, we have sort of gotten richer.. BUT things are going up in prices! Like the basics stuff – Milk, Eggs etc. all going up as seen on the news. Mostly though, petrol prices and public transport has gone up even though the government want to encourage more people to use public transport! Was diggin out my winter coat from a few years ago, and was about to throw the train ticket away – seeing the fees I have paid back then made me think how bad things are getting in relation to having to commute to work from a long way! It was around £12 to get to London Kings X, and now it’s at least £17 – £18 to get there! Grrr…

Posted over 2 years ago by Kerryc

some time ago i read about “the cocacola economic evaluation” – you can rate overall growth by the price of a can of coke. About 10 years ago it would set you back about 25p, now if you walk into a corner shop it would cost you 50p. double the price, double the average wage, double the disposable income etc.

i’m sure it would probably work with anything, mars bars, loaf of bread, a days travel on the tube, the number of cranes on the london skyline.

although having a degree adds approximately £10k to your yearly earnings, so that might throw everything off a bit

lies damn lies statistics

Posted over 2 years ago by iAmJonny

Bloomberg (financial news etc) actually do have a Mars bar index, or they did a few years ago. They also have a Big Mac index.

Posted over 2 years ago by pottytime

10 years ago I had a lot more money, if by that you mean disposable income. Then taxes kicked in, IR35 (Thanks Gorden, yes I will remember that if you call an election) and now I have a lot less disposable dosh. Comfortable: yes. Affluent: definitely not.

But things live travel costs are going up much faster than my salary. So I guess I am getting poorer. Where are the Daily Mail coming from?

Posted over 2 years ago by Challinor