Now Pensions got in touch with me recently. They want to get bloggers (and their readers) thinking about saving for the future – particularly about saving for retirement. And not at some point in the future, but now.
They want me to write about my weekly budget and compare this amount with the state pension of £107.45, to see what the difference between the two is, and how my family life would alter if you only had that amount to live on.
I had to fill the car with petrol on the way to school pick-up last week. Petrol was 136.9 pence per litre, and by the time I filled the car that amounted to 8214 pence.
£82.14 to fill the car. Which would leave £25.31 a week to live on once I had done that. Not going to happen, is it?
So would things change if we were living on a basic pension? Absolutely. Obviously, you would like to think that DH and I would be living mortgage-free by then, but there would still be utilities, food, clothing. It would be safe to say that we wouldn’t be able to run our Estate car on that kind of budget, if we could run a car at all.
So I guess what I am saying is that I need to stockpiling now whilst we can afford to buy clothes and luxuries because I don’t imagine there would be much left over after we’d paid the bills.
Good thing we’ve got a pension.
*disclosure: I was given Amazon vouchers in return for this post. All words, lack of budgeting and opinions are my own.
That’s awful. I’m sure I’ll be dependent on Alcohol once I reach retirement age… does one get a separate budget for that or is that was they call the heating allowance??
At this rate, we’ll still be working in old age, Lisa, so I don;t think it will be an issue.