The number of self-employed people has steadily increased over the last two decades, climbing from 3.2 million in December 2000 to over 5 million at the start of 2020, settling at 4.2 million this year.
21.03.2022 - 10:21 / manchestereveningnews.co.uk
The cost of living crisis is upon us - and each day seems to bring more bad news about bills, petrol, and supermarket shops. For many young people, the dream of owning our own homes looks more and more distant.
Just getting by is hard enough. Martin Lewis is on our screens every week offering tips and tricks to try and ease the blow, while TV property guru Kirstie Allsopp suggests young adults cancel their Netflix and make coffee at home as a way to save for a deposit.
But let’s be honest, most young adults don’t pay for Netflix, someone else does. Granted, I pay £9.99 a month for Spotify, but I doubt the £119.88 I would save every year to not have music would get me a mortgage.
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In fact, I know it wouldn’t. My banking app has taken to advertising mortgage services to me and this week informed me that first time buyers in my area need an 18 percent deposit of roughly £34,000 to even think about buying.
It would only take me just shy of 284 years to save up my Spotify savings to buy a property in Manchester. So sorry Kirstie. I think I’ll keep my Spotify and instead listen to music from the 1980s when my dad and a friend were able to buy a two bedroom London flat for £71,000 with a 4.3 percent deposit of £3,000. In today's money, adjusting for inflation, that would be a £202,000 property with a £8,500 deposit.
Another reality facing first time buyers at the moment is the gap created by wages earned and wages needed to buy. My graduate, entry level wage barely covers the cost of living, so there is no chance it would be considered enough for a mortgage.
Instead, I can fantasise about one day having a
The number of self-employed people has steadily increased over the last two decades, climbing from 3.2 million in December 2000 to over 5 million at the start of 2020, settling at 4.2 million this year.
The cost of living crisis is happening all across the UK with energy bills, food and fuel prices soaring as well as national insurance rising. But according to research there are certain areas of the country where people are much better, or worse off, than others when it comes to the cost of living.
A strange conspiracy theory has been making its rounds on social media, leading to Money Saving Expert founder Martin Lewis to publicly debunk it.
Thousands of people are expected to join nationwide protests against the rising cost of living today - with a demonstration planned in Manchester city centre. The People's Assembly has organised a march and protest in Piccadilly Gardens from 1pm this afternoon (Saturday).
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Martin Lewis has warned the cost-of-living crisis will be "the worst" that Brits have faced in 22 years including covid and the financial crash.
Rishi Sunak has been mocked for an “insulting” two minute, sixteen second speech to the Scottish Tory party conference.
A charity has warned Greater Manchester residents are ‘beyond breaking point’ as the cost of living crisis worsens.
A councillor in Oldham who has tendered her resignation after just 10 months in the job is understood to have cited the cost of living crisis as one of her reasons for quitting.