I know it's not new but anyone else really hacked off about the child benefit cuts?

[Blah11]

To be fair you live within your means. People on higher wages will have a bigger mortgage more finance for car, maybe their children attend more clubs or go to private school etc

 

[MrsButterfly]

Before tax we have a joint income of around £60k. We don't NEED child benefit per se but we do find it really valuable to benefit our lo. We do not live a life of excess at all but at the end of each month we don't have much left. This thread has made me reflect on where our money is actually going but after mortgage and household bills and childcare we genuinely don't have a lot left. Maybe we live in a more expensive area. Because we only have a company car so don't have car expenses either. And haven't had a holiday for two years.

But anyway, I've posted this just as a counter to some of the "you don't need CB over £50k" posts. My boy wouldn't go hungry without it but the £80 a month means we do get to do things with him on weekends to benefit him - which I assumed it was for. Please don't think everyone earning over £50k joint income have got it easy. I recognise we are ok financially but certainly are not living it up and we have to be sensible with cash each month.

 

[buttonnose82]

Like I said, we lost it, and to us, £135 a month was a lot to lose, we have a mortgage to pay etc just like everyone else, it isn't so easy to just sit and say you can live without it, it isn't easy to just sell up and move to save money, we have already lost money on our home due to HS2, if we try to sell we would be in mega negative equity.

'Wealth' is based on a lot more than income

Like I said earlier, I could some what deal with losing it IF it had been done fairly, but it hasn't, I am a SAHM, yeah I could go out and get a job, but the reality is, by the time we pay out for childcare I wouldn't bring anything home.

We have cut down where we can, we struggle just like some on lower incomes do, it is narrow minded to see a single figure and believe life is full of fairies and butterfly's if you have that income, reality isn't like that.

 

[babyhopes2010]

you do tend to live within your means. people with more money will spend more. take more out on loans and finance as they have that extra money to dipose of.

we were earning alot until our life went tits up and we dont have alot now. IF we hadnt taken out the loans ect....we would be ok and not struggling.


the more u earn the harder it is to budget if ur circumstances change for the worst.
what has happened to us made me realise how we wasted our joint income of 50k+ a yr and im sorry but on that income u do end up having alot of spare money to waste on things u dont need.


BUT at the same time i see the other side of the debate. WHY?! shouldnt people still be entitled to it after all they end up paying alot into the 'system'

 

[buttonnose82]

Besides, the system is totally floored, my hubby has a client at work, she doesn't work, is a millionaire (as in cash terms not just property) and still gets child benefit, but because she invests enough of her money that she doesn't 'earn' more than £60,000 a year in bank accounts etc, she can still claim it.

 

[Midnight_Fairy]

We could lose ours next year just as we have to pay for our son to attend a private school if we lose tribunal but will just have to adapt. I do agree with the joint/single earner being unfair x

 

[Midnight_Fairy]

Besides, the system is totally floored, my hubby has a client at work, she doesn't work, is a millionaire (as in cash terms not just property) and still gets child benefit, but because she invests enough of her money that she doesn't 'earn' more than £60,000 a year in bank accounts etc, she can still claim it.

That's unfair!

 

[dani_tinks]

We lost ours. Hubby has a very good salary but we live to our means. He pays SO much tax, we have a huge mortgage etc etc. I'm a SAHM, CB was my money to get Jacob's bits and bobs. It was very handy and I did notice when it was taken away, however we are coping just fine without.

 

[babycrazy1706]

Wow that's so greedy!!

 

[maryp0ppins]

How people think they can't live without £80 a month cb when they earn over 50K is laughable... If you can't manage on 50k then I think you need to look at what crap your wasting money on.

We get £16,000 a year and we more than manage and have money left to spend and save.

Where are these people going wrong . Perhaps lessons in money management


Or cut down on less coffee mornings .

There's people on here that have REAL money worries and that "measly" £20 a week as described means ALOT to them..... Its rather insensitive to then worry how your luxuries are now going to paid for when its cut from your high wage packets

Laughable? I actually find your tone in your post snotty. What if your rent or mortgage is over 1k a month?(reality for those who private rent in the SE for a 2 bedroom place) Then nursery fees near 1000-1200 a month? That leaves you 800 for all household bills,food,clothing,running of a car etc (estimating you receive 3k a month after tax). Its a real reality that those who receive NO gvt assistance are having to think about how they will afford to have any children. OH and I bring in 48k a year and we are trying to work out how we will manage to have children in the next few years.

 

[babycrazy1706]

Yeh I guess it can be a struggle for the higher earners too. Everyones situation is different and unique. Xx

 

[rhdr9193..x]

Woahhh £1000 a month on a car? What you driving a Ferrari? If you are moaning about £80 a month child benefit and losing it, swap the car for an Astra and save yourself £800 a month!

I think it should be on combined income, between me and OH we earn about 16k a year and still manage to get by, I understand living down south is more expensive etc though. £50k would set us up for a long time, that's money we could only dream of. X

 

[Tasha]

It is not as simple as just swapping though is it? For £1000 a month (although I think she said almost so could be £600-£999 really) it is likely the car is on finance and therefore you are tied into a contract, even if you send it back you owe them money. Plus that could be £600 a month on finance and then £300 on insurance, or £400 a month on finance, £300 on insurance and £200 on petrol, so it just depends on how it is broken down.

 

[rhdr9193..x]

It's all about lifestyle choices though isn't it? Even £600 a month on car finance is extortionate! To be complaining about £80 a month when you are paying that much out on a car is just serious unknown territory to me, I can't get my head around it!
I think I prefer being poor, even if I was earning that wage there is no way I could justify spending that much on a car. X

 

[Tasha]

If you enter financial contracts such as loans, car finance and the like before children because it as easily affordable back then, you cant just undo it because you have children now, so it isn't as black and white as being a lifestyle choice in the here and now. If you got finance for a car before children and you had a joint income of £3k a month then £600 may of been not a big deal, but then after having children and suddenly your nursery fees are £50 a day (that is the absolute cheapest you can get it around here but mostly £75+) so over £1000 a month, your mortgage is £1000 a month now that you need a two bed (which is much lower than rent here and I know where you live can be seen as a lifestyle choice but not always because sometimes you need to be in a particular area for the job you do), well then suddenly £600 a month becomes a huge dent because not only is two thirds of your income taken from two necessary bills (a roof over your head and childcare for your children) but also you need insurance and petrol, food, electricity, heating, tv license, council tax and all the other bills with the remaining £400.

 

[Dk1234]

Things are very different in America I gather

 

[dgirllamius]

When I was having some work done on my old smart car we were waiting in the Mercedes building and were sitting next to this rather expensive looking Mercedes. I looked at the board and saw it cost 1000€ a month. I was like wow who earns that? What would the insurance be like not to mention the tax! petrol too (I think it was a petrol engine and petrol is more expensive here than diesel).

 

[weewdy]

I also think it needs a shake up and turn it into an opt in/out system instead. To the high earners i think its a shame because at the end of the day they are working for their money and paying rediculous amounts of tax to our government. The main problem is the amount of benefit cheats that can sit on their bum all day claiming all different benefits instead of getting out to work. Dont get me wrong i know they arent alot of jobs at the moment and some are on disability, which i totally agree with if its genuine. In my area around 30% of people work. A girl i went to school with has never worked in 10 years, her oh doesnt work, she has 3 kids and she gets more money a month from the government than what i make working 30hrs per week. The only benefit i get from the government is the cb.

So i personally feel the high earners should still receive the cb if they want to receive it.

 

[lindseymw]

If we didn't have kids, chances are we would have got a car that would probably cost £1000 a month

We pay £400 a month for our car. It was £17,000. Of course, we didn't need a £17k car...but we wanted it and can afford it.

As I said earlier, if CB benefit was based on joint wage, we would lose it (cut off is £44k I believe?) and whilst we probably would survive quite easily without it, it does get spent every month.

But we are in a lucky position in that we have a very small mortgage that has 1 year left as DH bought the house 13 years ago.

Paying £1000 a month for a mortgage/rent is very realistic even where I live (up north). Rent for a 3 bed semi is around £700pm.

 

[Quackquack99]

I also think it needs a shake up and turn it into an opt in/out system instead. To the high earners i think its a shame because at the end of the day they are working for their money and paying rediculous amounts of tax to our government. The main problem is the amount of benefit cheats that can sit on their bum all day claiming all different benefits instead of getting out to work. Dont get me wrong i know they arent alot of jobs at the moment and some are on disability, which i totally agree with if its genuine. In my area around 30% of people work. A girl i went to school with has never worked in 10 years, her oh doesnt work, she has 3 kids and she gets more money a month from the government than what i make working 30hrs per week. The only benefit i get from the government is the cb.

So i personally feel the high earners should still receive the cb if they want to receive it.

I disagree with this as I believe that majority people on benefits genuinely need it, yes you do get some people who abuse the system but not all. In fact this country is losing billions of pounds every year due to massive corporation using loopholes to avoid paying any tax. That is the main problem.