0:00:02 > 0:00:05- How much is your weekly grocery shop?- About £120.
0:00:08 > 0:00:11- How much for a bottle of shampoo? - £2.09.
0:00:13 > 0:00:16- Do you take a packed lunch?- Yes.
0:00:16 > 0:00:23I'll probably go to the pub and spend 20, 30 quid on beer and not think about it.
0:00:23 > 0:00:27Em, fingers, £20, every two or three weeks.
0:00:27 > 0:00:30- Would you do £200 on a meal?- Yes.
0:00:32 > 0:00:39# The best things in life are free But you can give them to the birds and bees
0:00:39 > 0:00:42- # I need money - That's what I want
0:00:42 > 0:00:46- # That's what I want - That's what I want
0:00:46 > 0:00:48# That's what I want
0:00:48 > 0:00:53- # That's what I want - That's what I want...- #
0:00:53 > 0:00:59£40,000 is an average income for a British family today.
0:00:59 > 0:01:04It's the typical take home pay for a household where two adults are working.
0:01:04 > 0:01:09There are people who feel flush living on this amount of money,
0:01:09 > 0:01:13but for others it's a daily struggle.
0:01:13 > 0:01:18So what do the choices we make about money tell us about ourselves?
0:01:18 > 0:01:25All the families and households in this film live on the same net income,
0:01:25 > 0:01:29but their circumstances and their priorities are all different.
0:01:29 > 0:01:31'Money...'
0:01:31 > 0:01:34Is £40,000 enough for you?
0:01:35 > 0:01:36No.
0:01:36 > 0:01:40- How do you feel on £40,000? - I'd like to earn more.
0:01:40 > 0:01:42Entirely comfortable.
0:01:43 > 0:01:47- Quite stable.- Stable. That's a good word.- Like that one?
0:01:47 > 0:01:49Yeah. Stable, comfortable.
0:01:49 > 0:01:53- Is that enough for you, that income?- No.
0:02:07 > 0:02:09I left school at 16.
0:02:09 > 0:02:12And not a moment too soon!
0:02:12 > 0:02:18I've been a train driver for 17 years and I've been at Eurostar for 10 years.
0:02:18 > 0:02:22How did you become a train driver? What do you have to be able to do?
0:02:22 > 0:02:26Drink lots of tea. Em...and whinge.
0:02:27 > 0:02:32Tell red and green from one another is a good thing.
0:02:32 > 0:02:37I think it's the best possible job that I could have,
0:02:37 > 0:02:41bearing in mind I don't think I'm awfully good at too many things.
0:02:41 > 0:02:47- When you decided to be a train driver, was the money a factor at all?- No.
0:02:47 > 0:02:54I really felt that one should have a job that you like doing because it cuts into your day a bit.
0:02:55 > 0:02:59Nev and his wife Deanna live in Ashford in Kent.
0:03:01 > 0:03:06Deanna is a newly-qualified teacher and Nev earns twice what she does.
0:03:09 > 0:03:15It's Nev who takes primary responsibility for organising the finances for the two of them.
0:03:15 > 0:03:21There's two ways of doing finances. There's the proactive approach and the reactive approach.
0:03:21 > 0:03:25I believe there's not many things in life that are actually surprises.
0:03:25 > 0:03:29So I try and allow a sum of money
0:03:29 > 0:03:34for replacing stuff or for how much things are going to cost.
0:03:34 > 0:03:40'Nev has devised his own elaborate and very particular accounting system.'
0:03:40 > 0:03:47- Your money comes into your account or a joint account?- My money comes into my account.- Then what?
0:03:47 > 0:03:55- I like to then move that money into my virtual pot system.- And what do you have pots for?- All sorts!
0:03:55 > 0:04:00- Yeah!- Go on, tell me. - Food, entertainment, holidays,
0:04:00 > 0:04:05- em, stationery... - Miscellaneous.- Miscellaneous.
0:04:05 > 0:04:12Car maintenance, petrol. We had a DIY pot when we were decorating the bedroom.
0:04:12 > 0:04:18- White good replacement pot. - White good replacement pot. - Saving for the new central heating.
0:04:18 > 0:04:23- How do you know what everything's going to cost, Nev?- Well... - Do you research it?
0:04:23 > 0:04:27Oh, he's the master researcher! At anything, really.
0:04:27 > 0:04:33Are you looking for the cheapest dishwasher tablets or are you looking for
0:04:33 > 0:04:37your favourite quality dishwasher tablets on special offer?
0:04:37 > 0:04:44I'd rather buy something that I knew worked. There's organisations available to help you decide.
0:04:44 > 0:04:50- Would you research your washing powder or your washing liquid?- Yeah.
0:04:50 > 0:04:54- Kitchen towel?- Yep! - Toilet roll?- Toilet rolls.
0:04:54 > 0:04:58Do you research what is the best toilet roll or go on experience?
0:05:01 > 0:05:08No, again the organisation that I use and go on their website, it's got its recommendations.
0:05:08 > 0:05:14But you like to know from an objective source that there's a guarantee of quality
0:05:14 > 0:05:18- and then you buy when it's on offer? - It's important to aim for that.
0:05:18 > 0:05:23- #- Money, money, money Money, money, money
0:05:23 > 0:05:25- #- Money, money, money...- #
0:05:43 > 0:05:47How did you two meet? How long have you been together?
0:05:47 > 0:05:53- We came from the same village in the Philippines. - Same town.- Same town.
0:05:53 > 0:05:56And how long have you been a couple?
0:05:56 > 0:05:59We got married 2006.
0:05:59 > 0:06:03So we've been married more than four years now.
0:06:04 > 0:06:09After three years of marriage, Janice and Kenneth had their first child, Kenan.
0:06:09 > 0:06:16When he was still a tiny baby, Janice unexpectedly found herself pregnant for a second time.
0:06:16 > 0:06:21So I got pregnant when he was at three and a half months.
0:06:21 > 0:06:25Then when I had my scan, they said it was triplets and I was shocked.
0:06:25 > 0:06:32The first thing that came out of my mouth is, "We need to change the car!"
0:06:34 > 0:06:38I was thinking about the impact on the finances.
0:06:38 > 0:06:44So these are naturally conceived triplets? Three identical girls.
0:06:44 > 0:06:48- How unusual is that? - One in 200 million.
0:06:49 > 0:06:53'Janice was working as a physiotherapist in the Philippines
0:06:53 > 0:06:59'when she was recruited by the NHS to come and work in a hospital in Harlow.
0:06:59 > 0:07:05'Kenneth came to Britain to join her, leaving behind his job as a qualified architect.'
0:07:07 > 0:07:10So when you came here, tell me what happened.
0:07:10 > 0:07:18I tried to look for some jobs, but they said I need experience and to be qualified here,
0:07:18 > 0:07:22so I need to study one and a half years to be qualified here.
0:07:22 > 0:07:27And then I look for some jobs that I can do to earn money here
0:07:27 > 0:07:34- and then I found it in DHL. - So you're working in a DHL warehouse?
0:07:34 > 0:07:40Yes, in a DHL warehouse. It's a manual job. Not really hard, but it's a manual job.
0:07:40 > 0:07:45If you compare it to what you are doing before, it's really different.
0:07:47 > 0:07:51Janice and Kenneth have been bringing home 40 grand between them,
0:07:51 > 0:07:56but this is only possible if Kenneth works very long hours.
0:07:56 > 0:08:01Before, when we didn't have Kenan, I am doing seven days a week.
0:08:01 > 0:08:04So about 10, 12 hours a day.
0:08:04 > 0:08:10- And have you thought about doing the year and a half's training to become an architect here?- Yeah.
0:08:10 > 0:08:17I am thinking about that, but... you know, there's always a conflict with having a situation like this.
0:08:17 > 0:08:23At first, I tried to work first for about a year
0:08:23 > 0:08:28then I was planning to study, and then Kenan came out,
0:08:28 > 0:08:31so my plan was postponed again
0:08:31 > 0:08:36and we adjusted again and then after that
0:08:36 > 0:08:40Janice got pregnant and it was triplets, so...
0:08:40 > 0:08:44There's nothing I can do. So I need to prioritise my family.
0:08:44 > 0:08:49- Do you feel frustrated about that? - Yeah, really. Yeah.
0:08:49 > 0:08:51- You can see it!- Yeah.
0:08:51 > 0:08:53JANICE LAUGHS
0:08:53 > 0:08:58But you just have to accept it, especially now with the triplets.
0:08:58 > 0:09:01What can you do?
0:09:02 > 0:09:06- There's nothing I can do. - He's very emotional today.
0:09:22 > 0:09:26- Andy, how old are you?- I'm 49. - Becky, how old are you?- 13.
0:09:26 > 0:09:30- And Gaynor, how old are you?- 44. - And how old is the dog?
0:09:30 > 0:09:33One, tomorrow!
0:09:35 > 0:09:39Can you tell me what your household income is, net, annually?
0:09:39 > 0:09:41Net, about 40,000.
0:09:41 > 0:09:45And that's your income, Andy, because Gaynor's not working.
0:09:45 > 0:09:49Correct. That's purely my income through my work.
0:09:49 > 0:09:55'Andy takes home his 40 grand working as a manager in an IT company.
0:09:55 > 0:09:58'And Gaynor is a homemaker.'
0:09:58 > 0:10:03- How do you organise your finances? - It's quite simple. The money comes into my account,
0:10:03 > 0:10:08all the direct debits are set up so it all comes out of my account.
0:10:08 > 0:10:12- I give Gaynor an allowance each month.- How much do you give her?
0:10:12 > 0:10:15- £500?- About £500, yeah.- £500.
0:10:15 > 0:10:20Which I do the shopping with and any socialising.
0:10:20 > 0:10:26- How much do you spend on groceries a week?- Em, it's probably in the region of about...
0:10:26 > 0:10:29It probably is around about £100.
0:10:29 > 0:10:33Yeah, we've got a weekly budget of about £100-£150.
0:10:33 > 0:10:39- It's £100. - We easily do £100, with nappies.
0:10:39 > 0:10:43I probably spend around £60, £70 a week on groceries.
0:10:43 > 0:10:46Do you like cooking, Gaynor?
0:10:46 > 0:10:48SNIGGERS No.
0:10:48 > 0:10:54- How often do you cook? - Two or three times.- Per week?- Yeah. - I cook more than that.
0:10:54 > 0:10:59- Four times a week, probably. - OK, I'll give you four.- Four times.
0:10:59 > 0:11:06- What do you guys eat the rest of the time?- Fish and chips, em... doner kebab, Indian.- Indian.
0:11:06 > 0:11:11- Thai. Anything, actually. Yeah, what we fancy. - Depends what we feel like.
0:11:11 > 0:11:16- Is that a financial issue when you get a take out?- No.- Not really.
0:11:16 > 0:11:21- Is that coming out of Gaynor's £500? - No.- No.- I buy that.
0:11:21 > 0:11:23- Have you got everything?- Yeah.
0:11:23 > 0:11:28Gaynor went to state school, but Andy had a private education.
0:11:28 > 0:11:35For both of them, educating Becky privately is their top financial priority.
0:11:37 > 0:11:40I benefited from it.
0:11:40 > 0:11:44It was an all-boy school. Becky's is all-girl. No distractions.
0:11:44 > 0:11:49I just personally believe I got a much better education.
0:11:49 > 0:11:54- The class sizes are bigger than I would like really.- What - 21, 22?
0:11:54 > 0:11:58But even that is less than the state schools. And I value that.
0:11:58 > 0:12:03I value that the class sizes are smaller and I'm happy to pay for it.
0:12:03 > 0:12:09I'm also happy to pay for the fact that because we pay they actually have better facilities
0:12:09 > 0:12:11and better opportunities.
0:12:11 > 0:12:17There does seem to be a bigger broadening of the mind within a private school, I think.
0:12:17 > 0:12:22- Are the school fees your biggest outgoing?- Yes.- Yes.
0:12:22 > 0:12:28- Bigger than the mortgage?- Oh, yes. - It's almost double the mortgage in monthly terms.
0:12:28 > 0:12:33I liken it to slitting our own throats on purpose, on occasions!
0:12:33 > 0:12:39- It's basically £750 a month, about £3,000 a term. - And I'm on scholarship.
0:12:39 > 0:12:46- So we get a discount from that of 15%.- Which is cool.- So how much is that worth, the scholarship?
0:12:46 > 0:12:50- She asks us that.- I think it's worth about £1,500, maybe?- Yeah.
0:12:50 > 0:12:53- About that.- A year?- A year, yes.
0:12:53 > 0:12:59- Once you've got that scholarship, do you have it throughout your school career?- No.
0:12:59 > 0:13:05- That's where the pressure goes on me a little bit. A lot.- Does it feel like an extra pressure?- A little.
0:13:05 > 0:13:08But I know how clever I am, so...
0:13:09 > 0:13:13Don't let me brag. I will just go on and on.
0:13:13 > 0:13:19- If the two of you had more than one child, would private school be an option?- No.- No.
0:13:19 > 0:13:21No, couldn't afford it.
0:13:22 > 0:13:27- How do you feel on £40,000? - I'd like to earn more.
0:13:27 > 0:13:33- You obviously don't feel it that intensely or presumably Gaynor would be out at work.- Yeah.
0:13:33 > 0:13:35Yeah, I guess.
0:13:35 > 0:13:38# My life be like, oh, ah
0:13:38 > 0:13:42# My life be like, oh, ah
0:13:42 > 0:13:45# Oh, ah, yeah, oh... #
0:13:54 > 0:14:00So my first question is can you tell me how old you both are, how many children you have
0:14:00 > 0:14:03and how old your children are?
0:14:04 > 0:14:07- I'm 44.- And I'm 43.
0:14:09 > 0:14:13- My name's Brian.- I didn't ask you your name, Brian.- Didn't you?
0:14:13 > 0:14:19- I've forgotten the list of questions!- We've got two children... - No, we're going to start again.
0:14:19 > 0:14:26- Sorry.- OK, so can you tell me how old you both are, how many children you have and how old they are?
0:14:27 > 0:14:33- I'm 43.- I'm 44.- We've got two children.- Alexandra and Matilda.
0:14:33 > 0:14:37Alex is 8 and Matilda is 3.
0:14:37 > 0:14:41How would you describe your financial situation at the moment?
0:14:43 > 0:14:45Tight.
0:14:45 > 0:14:49Yeah, there's a word and I can't think what the word is.
0:14:50 > 0:14:51Um...
0:14:52 > 0:14:54Draining.
0:14:54 > 0:14:59- How much is your weekly grocery shop?- About £120.
0:14:59 > 0:15:03And are you scrimping to bring it in at that price?
0:15:03 > 0:15:06Yes. I won't even buy a shop pizza.
0:15:06 > 0:15:11Well, it's £1.75. I can make four pizza bases at that price.
0:15:11 > 0:15:17- And do you try and buy organic? - I do try. I think it's better value for money, shockingly.
0:15:17 > 0:15:21You get better flavour, you get more meat on an organic chicken.
0:15:21 > 0:15:24- Are your vegetables organic?- Yes.
0:15:24 > 0:15:32Yes, carrots and celery, yes. And I have a delivery every week of organic fruit and veg.
0:15:32 > 0:15:35- #- Money, money, money...- #
0:15:37 > 0:15:43- Do you care about whether your vegetables are organic and your meat is free range?- No. No.
0:15:44 > 0:15:47Do you care if it's organic?
0:15:47 > 0:15:50- Yeah, I do.- That's the rules, yeah.
0:15:53 > 0:15:57- #- Money, money, money Money, money, money...- #
0:15:58 > 0:16:02'Monica and Brian and their two girls live in Bournemouth.
0:16:02 > 0:16:07'A couple of years ago, Brian took redundancy from his job.
0:16:07 > 0:16:11'He and Monica, who'd been a full-time mum for five years,
0:16:11 > 0:16:17'decided to set up a small business together running their own cafe.'
0:16:17 > 0:16:23At what point did you decide that you wanted to embark on the venture that was the cafe?
0:16:23 > 0:16:27- What brought that on, Monica?- I'd always wanted to work for myself.
0:16:27 > 0:16:32My friends laugh at me. There was always some scheme on the go,
0:16:32 > 0:16:38whether it was hair scrunchies in the '80s or knitting or something. I was always dabbling.
0:16:38 > 0:16:45I always knew I wanted to work for myself and all my jobs have been where you've been your own boss.
0:16:46 > 0:16:52But the panic set in and made me really want to do it when my dad died suddenly.
0:16:52 > 0:16:57- I thought, "Oh, my God. Life's really short."- How old were you?
0:16:57 > 0:16:58Forty.
0:16:59 > 0:17:06- So it was a mid-life moment, literally.- Definitely. I should have just got a sports car, you know.
0:17:06 > 0:17:12And had either of you any experience of catering, the catering industry?
0:17:12 > 0:17:19Only from having the odd foreign student and I've always done food for parties and food for family.
0:17:19 > 0:17:26'Although an initial success, the cafe went bust after only eight months.'
0:17:26 > 0:17:29So what did you do wrong?
0:17:29 > 0:17:31- We...- Took on too many staff.
0:17:31 > 0:17:33Yeah.
0:17:33 > 0:17:38- We were...- Trusted people we shouldn't have done.- Yeah.
0:17:38 > 0:17:45An old drunk said to us four words. I think he was right. "Too nice, too trusting.
0:17:45 > 0:17:47"That's where you went wrong."
0:17:49 > 0:17:55Monica and Brian had remortgaged their house and ploughed Brian's redundancy payment into the cafe.
0:17:55 > 0:18:00When the business failed, they were declared bankrupt.
0:18:01 > 0:18:05- Oh, that keeps happening. That's the second time.- You have to give me £2.
0:18:08 > 0:18:15- And so you personally lost £70,000 or £80,000 of your money? - About 85, yeah.- £85,000.
0:18:15 > 0:18:23- And had... That's a lot of money. - Mm. It's everything we'd built up in the houses.- All the equity.
0:18:23 > 0:18:29- By doing houses up, moving. - Plus your redundancy. So it was all the money you'd ever made.
0:18:29 > 0:18:31Yeah.
0:18:31 > 0:18:35'Brian now has a new job working for a utility company.
0:18:35 > 0:18:42'His salary, combined with tax credits and money from taking in lodgers, brings their annual income
0:18:42 > 0:18:44'up to forty grand.
0:18:44 > 0:18:51'However, the bankruptcy means they're not allowed credit cards and can never be overdrawn.'
0:18:51 > 0:18:57Is it limiting what you can do now? Is it day to day limiting you that you can't get any credit?
0:18:57 > 0:19:03Yes. It's actually doing me good. It's teaching me to manage my money, as my mum said.
0:19:03 > 0:19:07I have done for years. If I haven't got the money, we can't do it.
0:19:07 > 0:19:11If we want to do something, I have to save up and find it.
0:19:16 > 0:19:22- And did you not have that sort of sense of financial management before?- No.- Did Brian?
0:19:22 > 0:19:26- A little bit. No. - You were both as bad as each other?
0:19:26 > 0:19:29- He's worse?- He's worse!
0:19:32 > 0:19:38We need change to give people, but then we need to know how much we put in in the first place
0:19:38 > 0:19:42or we won't know how much we've made, will we?
0:19:42 > 0:19:50I'm just wondering if you feel better in yourself or you felt better when you could spend freely?
0:19:50 > 0:19:51Hmm.
0:19:51 > 0:19:54I feel more, um...
0:19:55 > 0:19:57Is the right word pious?
0:19:59 > 0:20:02For being able to now do that.
0:20:02 > 0:20:06But, um, I feel more stressed and worried.
0:20:06 > 0:20:11- It's not fun.- No, it's not as fun as slapping a bit of plastic.
0:20:12 > 0:20:19- Is a good day when you come through the door and think, "I didn't spend anything"?- Yes, yes.
0:20:19 > 0:20:23# My life be like, oh, ah Yeah, ooh
0:20:23 > 0:20:27# My life be like, oh, ah Yeah, o-oh... #
0:20:36 > 0:20:41You own this house. How much is it worth, roughly, do you think?
0:20:41 > 0:20:44Maybe 195. Something like that.
0:20:44 > 0:20:47It's a modest house, worth about £110,000.
0:20:47 > 0:20:50- Two...- About three hundred?
0:20:50 > 0:20:53- Yeah? Three-ish.- Yeah.
0:20:54 > 0:20:58Well, when we bought it, it cost us £460,000.
0:20:58 > 0:21:02We bought it in the market at 165.
0:21:02 > 0:21:04Last time I heard it was 250.
0:21:04 > 0:21:10About three hundred and...ten thousand pounds?
0:21:10 > 0:21:15- How much money do you owe on the house?- More than that. - £360,000.
0:21:15 > 0:21:20- OK, so you're in negative equity. You owe more than it's worth.- Yeah.
0:21:20 > 0:21:24- # Money talks- Listen - Money talks- Get money
0:21:24 > 0:21:29# Dirty cash I want you Dirty cash I need you... #
0:21:29 > 0:21:37Kate and Jay live outside Bristol. They've been together for 11 years, are not married with no children.
0:21:37 > 0:21:41We never wanted any. Didn't like them very much!
0:21:43 > 0:21:47Kate is a nurse specialising in multiple sclerosis.
0:21:47 > 0:21:50And Jay is an electrician.
0:21:52 > 0:21:57They both have plenty of disposable cash and Kate loves to shop.
0:21:57 > 0:22:04Saturday is kind of chores and food shopping and things like that.
0:22:04 > 0:22:09And then Sunday is my play day, which generally involves shopping.
0:22:09 > 0:22:13- So you go into town, without Jay? - Without Jay.
0:22:13 > 0:22:19- We don't shop. We shop for Jay... - When we have to.- When we have to. We don't shop for me with Jay.
0:22:19 > 0:22:22Would you say you buy something every Sunday?
0:22:22 > 0:22:24Yep.
0:22:26 > 0:22:28Yeah, definitely.
0:22:28 > 0:22:34- I've got quite a few scarves... - You DO have quite a few scarves! - I quite like scarves.
0:22:34 > 0:22:38- Do you have a lot of scarves? - Not a lot.
0:22:38 > 0:22:42- 15, 20 scarves.- More than most scarf shops.- No, I don't.
0:22:42 > 0:22:44No.
0:22:44 > 0:22:48- You can never have too many scarves. - You can't!
0:22:49 > 0:22:55- And what about shoes and boots and things? How much are you spending on those?- We've got lots.
0:22:55 > 0:22:58- Sandals, yeah.- The pumps drawer.
0:22:58 > 0:23:02We've got probably 80 pairs. ..Heels drawer.
0:23:02 > 0:23:04- When you say "we"...?- Me.
0:23:04 > 0:23:07That was the royal "we". Me.
0:23:07 > 0:23:10I'm not sure. Going out shoes.
0:23:10 > 0:23:14How much might you spend on a pair of boots or shoes?
0:23:14 > 0:23:20I'd probably spend... I don't know. A pair of boots, anything up to 150?
0:23:20 > 0:23:24And then, I don't know, up to 50 on a pair of shoes.
0:23:24 > 0:23:27Do you budget for the groceries and things?
0:23:27 > 0:23:35- It's about £80 a week. - Where do you shop, Kate?- Wherever I've got money off vouchers for.
0:23:35 > 0:23:42- So you're a voucher person? - Well, they send me like £7 off and £5 off.
0:23:42 > 0:23:45I'm not a 20p off. I'm... Yeah.
0:23:46 > 0:23:50Let's see what's in your fridge, Kate.
0:23:52 > 0:23:54Food, Vanessa!
0:23:54 > 0:23:56Lots of packet meals.
0:23:59 > 0:24:00OK...
0:24:01 > 0:24:03Chicken.
0:24:05 > 0:24:08- More chicken.- More chicken.
0:24:08 > 0:24:10What else have we got?
0:24:10 > 0:24:12Chilli.
0:24:13 > 0:24:17Chilli con carne and rice. OK. What's this one?
0:24:17 > 0:24:21- OK. Is that for one or for two? - That's for two.- Two for £5.
0:24:21 > 0:24:28Dinner for £5 for the two of you. What's the most you'd spend on a ready meal for two?
0:24:28 > 0:24:29£10?
0:24:29 > 0:24:35- Would that be a special occasion? Friday night or something? - Yeah, maybe. Yeah.
0:24:36 > 0:24:40OK, that's the fridge interrogation over.
0:24:42 > 0:24:48- Your white goods replacement pot is pretty healthy at the moment. - Yep.- How much is in there?
0:24:48 > 0:24:52Er, so we've got... £60 target each month.
0:24:52 > 0:24:55And we've got 300 in at the moment.
0:24:55 > 0:25:00The next targeted white good to be replaced is the dryer,
0:25:00 > 0:25:06- cos I need a much more economical one.- How do you know how much that will cost you?- Again, research.
0:25:06 > 0:25:11- Guesswork. These pots...- Have you researched your next dryer, Nev?
0:25:11 > 0:25:16- Don't need to. I've got the website to go to.- So you know which one.
0:25:16 > 0:25:22- And how much is it going to cost? - I think that the one I'm after is about £450.
0:25:22 > 0:25:27It says "Dentist". How much do you put in the dentist pot a month?
0:25:27 > 0:25:32- I usually put in £20 a month. - And how did you work that out, Nev?
0:25:32 > 0:25:37Em, roughly what I spent in a year or a guess.
0:25:37 > 0:25:45When you try to do your research, might you say to your dentist, "How much will it cost me this year?"
0:00:00 > 0:00:00No.
0:25:46 > 0:25:50I think he might think I was somewhat off the wall with that.
0:25:50 > 0:25:58I was trying to work out whether there were things that Deanna might want that don't fit your system.
0:25:58 > 0:26:01So what are the things Deanna wants?
0:26:01 > 0:26:06- What are the things you can't have, Deanna?- Shoes, clothes.
0:26:06 > 0:26:09No, it's not that bad.
0:26:09 > 0:26:13- What about double glazing? Do you want that, Deanna?- I do, yes.
0:26:13 > 0:26:20- Can she have that, Nev?- No. - Why not?- I just think that it's a waste of money.
0:26:20 > 0:26:26- And we'd be better off...- Freezing. - ..getting maximum value from these windows, which are still there.
0:26:26 > 0:26:31- Have you got a window maintenance pot?- No!- No, no savings for that.
0:26:31 > 0:26:34That's one we need.
0:26:34 > 0:26:37# Money # Money, money, money... #
0:26:39 > 0:26:42I generally quite like cars.
0:26:45 > 0:26:51So I try and buy myself a new-ish car every two years maybe.
0:26:51 > 0:26:55- The car cost us... - It cost us ten grand.
0:26:55 > 0:27:00I did have a brief spell when the BMW N5 was beckoning to me.
0:27:02 > 0:27:07I've never been really into cars. They've never done much for me.
0:27:07 > 0:27:11- How many cars have you got? - Three.- Three.- Three.
0:27:11 > 0:27:15- How many drivers are there in the family?- Two.- Two!
0:27:15 > 0:27:19What's the most you've ever spent on a car, Kate?
0:27:19 > 0:27:22About 17,000.
0:27:23 > 0:27:27So if you buy a car for 17,000, roughly what would you get
0:27:27 > 0:27:35- for the one you're trading in? What are you actually spending? - Probably seven. Five or seven.
0:27:36 > 0:27:41So you're having to find £10,000 every couple of years to upgrade?
0:27:41 > 0:27:43Yeah.
0:27:43 > 0:27:47I love my car. I love cars, generally.
0:27:47 > 0:27:51- What would an impulse buy for you be, Kate?- Oh, gosh.
0:27:54 > 0:27:57A car, possibly.
0:27:57 > 0:28:03- You'd impulse buy a car?- I could easily impulse buy a car, yeah. Easily. And have done.
0:28:04 > 0:28:11Every day we're going to buy stuff for the triplets, we have to search first rather than impulsive buying.
0:28:11 > 0:28:17We need to save a lot of money. Every single penny helps and we have to keep it
0:28:17 > 0:28:22so it's like buying a buggy or a simple blanket for the baby,
0:28:22 > 0:28:28I have to search on the internet for the cheapest. And that's how we save.
0:28:28 > 0:28:34- I presume you've had to buy three of everything. Three cots, three high chairs...- Yeah.
0:28:34 > 0:28:37And then you've got Kenan as well.
0:28:37 > 0:28:43- Are you buying your nappies wholesale now?- Yeah, wholesale, so we can save a lot.
0:28:43 > 0:28:49- How many nappies are you getting through a day?- Oh, dear. If they're feeding six times a day,
0:28:49 > 0:28:53they change the nappy six times. Times three. So 18 nappies a day.
0:28:53 > 0:29:00- You've had to buy an enormous amount of kit. How much was the car? - The car cost us...- Ten grand.
0:29:00 > 0:29:02- Ten grand.- For the car.
0:29:02 > 0:29:07It's a big impact on the budget. Obviously, we did not expect...
0:29:07 > 0:29:10We know that we're having triplets, but it wasn't planned.
0:29:10 > 0:29:15It just happened. It was like you asked for one and you were given three.
0:29:15 > 0:29:20So everything was like a big change in the budget.
0:29:20 > 0:29:23Is there anything you buy that's for you?
0:29:23 > 0:29:25For me?
0:29:26 > 0:29:27No.
0:29:27 > 0:29:29Even my haircut, Kenneth does it.
0:29:29 > 0:29:32Look. Yeah?
0:29:32 > 0:29:35Before you had children, did you spend money on yourself?
0:29:35 > 0:29:40- Holidays.- Holidays. I love holidays.- She loves holidays.
0:29:40 > 0:29:42I love holidays.
0:29:42 > 0:29:45But I can't afford it at the moment.
0:29:47 > 0:29:49- Barbados.- Maldives, Maldives.
0:29:49 > 0:29:52- Twice.- Maldives, Maldives, Kenya.
0:29:52 > 0:29:57Just package holidays, two or three times a year if I can.
0:29:57 > 0:30:03If you're talking about cruises, we will go for the four to five-star as opposed to the six-star.
0:30:03 > 0:30:09- But are you looking longingly at the six-star brochure? - Of course I am, of course I am.
0:30:10 > 0:30:14We then had four, five skiing holidays maybe?
0:30:15 > 0:30:19For a break for a few days, I'd rather spend some time in Scotland
0:30:19 > 0:30:22or the Lake District or somewhere like that.
0:30:22 > 0:30:25Those big trips, how much would they cost roughly?
0:30:25 > 0:30:31- The Maldives were very expensive. - It was about 5,000.- No, it was 7½. - Was it? Kenya was 5,000.
0:30:31 > 0:30:36Kenya was about 5½, but the Maldives was about 7½.
0:30:36 > 0:30:40How are you affording that amount on holidays?
0:30:40 > 0:30:43We probably are living a bit beyond our means.
0:30:44 > 0:30:47Do you have credit cards?
0:30:47 > 0:30:50I haven't got a credit card, no.
0:30:51 > 0:30:53Have you ever been overdrawn?
0:30:53 > 0:30:56I haven't ever been overdrawn.
0:30:56 > 0:30:58Have you ever been in debt?
0:30:58 > 0:31:03I've had a loan once - £5,000 for a car,
0:31:03 > 0:31:09which I bought myself for my 30th birthday. I had the loan, I think it was three months, then I paid it off
0:31:09 > 0:31:12And are you proud of that, Kate?
0:31:12 > 0:31:14Yeah, I am proud of that.
0:31:14 > 0:31:17I like the fact that I can manage my money.
0:31:17 > 0:31:21A lot of my friends are in debt for whatever reason
0:31:21 > 0:31:26and never have got any money left at the end of the month.
0:31:26 > 0:31:29Yeah, I am proud of that.
0:31:29 > 0:31:32And I think, you know, that comes from my mum
0:31:32 > 0:31:37and it's just kind of working hard and managing your money, isn't it?
0:31:39 > 0:31:41BABIES CRY
0:31:45 > 0:31:48WOMAN SINGING SOFTLY
0:31:55 > 0:31:58When are you going back to work, Janice?
0:31:58 > 0:32:01- I'm going back next week, Monday. - Full-time?- Full-time.
0:32:01 > 0:32:04How is that going to work?
0:32:04 > 0:32:07Kenneth applied for a change of hours,
0:32:07 > 0:32:12then he was allowed to work from four o'clock in the afternoon till 12 midnight.
0:32:12 > 0:32:17And I will be working from a quarter to eight to a quarter to four.
0:32:17 > 0:32:22- You'll come back from work and Kenneth will go straight out?- Yeah.
0:32:22 > 0:32:27You'll get back just after... at a quarter past midnight. Janice hopefully will be asleep.
0:32:27 > 0:32:33- Yeah.- Then Janice will get up and go to work, so you won't see each other in the morning.
0:32:33 > 0:32:39- Will you see each other at all? - Possibly. He needs to wake up becaus the babies will be awake by seven.
0:32:39 > 0:32:43- So you'll see each other at breakfast time?- Yeah.- Yeah.
0:32:44 > 0:32:48And so, financially, you're going to be worse off
0:32:48 > 0:32:53because on that schedule, neither of you can do any overtime.
0:32:53 > 0:32:57- There's no time left to do any overtime.- No.
0:32:58 > 0:33:00At least we're not paying child care
0:33:01 > 0:33:05And how do you feel about the fact that you've had triplets?
0:33:05 > 0:33:09We're so blessed. We asked for one and we were given three.
0:33:11 > 0:33:15There must be a reason why we have the triplets.
0:33:15 > 0:33:23We don't know about it now, not yet now, but I think in the future we will know why we have triplets.
0:33:24 > 0:33:31So you are blessed, Janice, but in another way, it's an incredible burden to look after them.
0:33:31 > 0:33:33- It is.- Yeah.
0:33:33 > 0:33:37And I said to Kenneth that probably it is a test of my patience
0:33:38 > 0:33:41And how is your patience holding up?
0:33:41 > 0:33:43It's getting better.
0:33:44 > 0:33:46BABY CRIES
0:33:46 > 0:33:49- Are you planning on having any more children?- No, no more.
0:33:49 > 0:33:53I've done my share for humanity. I'm saying it loudly.
0:33:53 > 0:33:56I've done my share for humanity.
0:33:56 > 0:33:58BABIES CONTINUE CRYING
0:34:00 > 0:34:05- Do you save regularly for your grandchildren or anything like that?- No.
0:34:05 > 0:34:10- You're not in a position to save any money for the children for the future?- No.
0:34:10 > 0:34:14- You're trying to save money for their future?- Yeah, we need to.
0:34:14 > 0:34:19How can we afford four kids in the university all at the same time?
0:34:24 > 0:34:26ELECTRIC GUITAR MUSIC
0:34:42 > 0:34:44- Do you live alone, Gerard?- Yes.
0:34:44 > 0:34:48- Are you single?- Yes. - Do you have any children?- No.
0:34:48 > 0:34:50- How old are you?- I'm 47.
0:34:50 > 0:34:53Tell me what you do for a living.
0:34:53 > 0:34:58I teach at the University of Glasgow where I head up the Department of Scottish Literature.
0:34:58 > 0:35:05- I also run the Centre for Robert Burns Studies. - So what's your net income, Gerard?
0:35:05 > 0:35:08Around £40,000 a year disposable cash.
0:35:08 > 0:35:10And what's your gross income?
0:35:10 > 0:35:13Around £60,000 a year.
0:35:14 > 0:35:17My father was in the merchant navy and then, latterly,
0:35:17 > 0:35:22he was a maintenance fitter in the shipyards at Clydebank for most of his life.
0:35:22 > 0:35:27Were you the first generation of your family to go to university?
0:35:27 > 0:35:31Yes, both my brother and I attended university
0:35:31 > 0:35:37and that was something that was certainly not open to my parents as a possibility.
0:35:40 > 0:35:42Are you religious, Gerard?
0:35:42 > 0:35:45Yes, I certainly believe in God.
0:35:45 > 0:35:48Are you a regular churchgoer?
0:35:48 > 0:35:50I go to Mass regularly, yes.
0:35:50 > 0:35:54- How often is regularly?- Every week. Sometimes more than that.
0:35:54 > 0:35:57When I'm in the mood, on a daily basis.
0:35:59 > 0:36:06I certainly try to live my life to some extent according to ethical, religious principles.
0:36:07 > 0:36:11And I think probably, if anything,
0:36:11 > 0:36:17it's the religious part of my formation that leads to my attitude towards money,
0:36:17 > 0:36:22so quite honestly, I would rather give money to charity to some extent
0:36:22 > 0:36:24than to be indulgent.
0:36:24 > 0:36:29How much do you give to charity a month, would you say?
0:36:29 > 0:36:34There's probably a couple of hundred quid a month that goes to miscellaneous charities -
0:36:34 > 0:36:36church and other charities.
0:36:36 > 0:36:41How do you make a calculation about how much to give to charity?
0:36:41 > 0:36:44I don't make very precise calculations.
0:36:44 > 0:36:47I'm just aware that on a monthly basis,
0:36:47 > 0:36:51I can give 30 or 40 or 50 quid to this charity, to that charity,
0:36:51 > 0:36:55so therefore, I let the cheques flow out.
0:36:55 > 0:37:02The idea of simply too many people in the UK, let alone the wider world
0:37:02 > 0:37:05who don't have their proper share of resources,
0:37:05 > 0:37:10that idea is something I probably think about and am aware of every day of my life
0:37:12 > 0:37:17How would you describe your current financial situation?
0:37:17 > 0:37:23It's entirely comfortable. I can have a very nice bottle of malt whisky whenever I want.
0:37:23 > 0:37:25I can go for nice meals with friends
0:37:25 > 0:37:32I can indulge myself in guitars, which is my one real weakness, I suppose.
0:37:32 > 0:37:36And apart from that, I don't need to worry too much.
0:37:36 > 0:37:40Are you wealthier than your parents were?
0:37:40 > 0:37:44I'm probably around three times wealthier than my parents ever were.
0:37:44 > 0:37:50It is the case that I try to live fairly ethically, fairly modestly, fairly simply.
0:37:50 > 0:37:53That's a kind of conscientious choice.
0:37:53 > 0:37:57What would a treat in the supermarket be for you, Gerard?
0:37:57 > 0:38:01It might be something a wee bit indulgent food-wise.
0:38:01 > 0:38:03It might be, um...
0:38:03 > 0:38:06a pizza with cheese crusts.
0:38:06 > 0:38:11But the main treat for me would be a bottle of malt whisky.
0:38:11 > 0:38:17I have gone as high as £90 for a bottle of malt whisky when I've been in the mood, but that's not often.
0:38:22 > 0:38:26How much would you typically spend on a bottle of wine, Andy?
0:38:26 > 0:38:29I always look for the ones that are half price.
0:38:29 > 0:38:33How much would you spend on a bottle of wine typically?
0:38:34 > 0:38:37Anything from £3.19
0:38:37 > 0:38:40to £70.
0:38:40 > 0:38:45I'd probably go to the pub and spend 20, 30 quid on beer and not think about it.
0:38:47 > 0:38:51How much would you spend in a night in the pub, Jay?
0:38:51 > 0:38:56You can't actually spend that much because I generally drink with my brother,
0:38:56 > 0:39:01so we'll buy rounds and we'll end up drinking, say, six pints.
0:39:01 > 0:39:06And if a pint is £3 each, then you got a kebab at the end of it,
0:39:06 > 0:39:10it's the same every time we go to the pub. £22 is a night out.
0:39:10 > 0:39:14That's beer and kebab. You can't go wrong, can you?
0:39:18 > 0:39:21The main treats for me, apart from food,
0:39:21 > 0:39:26would be spending money on guitars and music gear.
0:39:27 > 0:39:30What's the most you've ever spent on a guitar?
0:39:30 > 0:39:34I once flew a guitar in or had a guitar flown in from Los Angeles -
0:39:34 > 0:39:37a custom-made Fender Telecaster,
0:39:37 > 0:39:41which was about £1,300, and a very nice bit of kit it is too.
0:39:41 > 0:39:45I'm not suggesting you're going to die soon because you're only 47,
0:39:45 > 0:39:49but what are you going to do with that money, Gerard?
0:39:49 > 0:39:55My late mother used to say to me, because I've got no children, "Where's all the money going to go?"
0:39:55 > 0:39:57And it's a good question.
0:39:57 > 0:40:02Part of me thinks I probably should just run out and spend £30,000 on guitars,
0:40:02 > 0:40:05but I don't think I will quite do that.
0:40:05 > 0:40:11But I would like to think that I would leave money to some kind of ethical trust
0:40:11 > 0:40:14or some kind of educational purpose.
0:40:15 > 0:40:18My heart's preference would be to leave money
0:40:18 > 0:40:24towards scholarships for people probably from working-class backgrounds.
0:40:45 > 0:40:47Tell me how you met.
0:40:48 > 0:40:50- In a nightclub.- Hmm.- Yeah.
0:40:50 > 0:40:53You were on a work do, I was on a hen do
0:40:53 > 0:40:56and our eyes met...very drunkenly!
0:40:58 > 0:41:01'Gary is a sergeant in the Metropolitan Police Force.
0:41:01 > 0:41:06'His wife Sarah's job as a part-time manager for a travel company
0:41:06 > 0:41:09'brings their combined income up to £40,000.
0:41:09 > 0:41:15'The couple live in East Grinstead, have two small boys, Dominic and Joshua,
0:41:15 > 0:41:18'and have been together for ten years.'
0:41:19 > 0:41:24Ten years ago when you met, how much debt did you both have roughly?
0:41:24 > 0:41:26A lot, yes.
0:41:26 > 0:41:32- Do we want specific figures?- I wouldn't be able to give a specific figure.- No, not at that stage.
0:41:32 > 0:41:38There was a lot of debt. Gary owned his own house, but I probably had about 20 grand's worth of debt.
0:41:38 > 0:41:42- Gary, did you have as much as that? - Probably.
0:41:42 > 0:41:47'Gary and Sarah have tried to get on top of their debt and are doing what they can
0:41:47 > 0:41:50'to pay it off in regular instalments.'
0:41:50 > 0:41:53What are you singing, Dom? What is that?
0:41:54 > 0:41:56SINGS TUNE
0:41:56 > 0:42:00What is that, Dominic? Have you made that up?
0:42:00 > 0:42:04Before you had Dominic, had the two of you ever had a conversation
0:42:04 > 0:42:08about the possibility of having a child with a disability?
0:42:08 > 0:42:13- It doesn't even occur to you.- No. Not at all.- It doesn't even occur.
0:42:13 > 0:42:15Well done, Josh.
0:42:15 > 0:42:22When Dominic was born, did you know immediately that everything was not OK?
0:42:23 > 0:42:30He was eight weeks premature, so we obviously knew that he had had delays in hitting milestones.
0:42:30 > 0:42:36He was a pretty healthy, robust child. Once he was out of special care, yes, we saw delays,
0:42:36 > 0:42:40but we put it down to being prematur and that eight-week delay.
0:42:40 > 0:42:46Then he was in hospital with a chest infection and we found out after that.
0:42:47 > 0:42:51- So, yeah.- How old was he when he...? - Eight months.- Eight months old.
0:42:51 > 0:42:57At that point, they diagnose cerebral palsy, but they don't know the severity of the effects of it.
0:42:57 > 0:43:02They do an MRI, so they can see the areas of the brain that have been impacted
0:43:02 > 0:43:08and his areas were areas affecting gross motor skills, fine motor skills.
0:43:09 > 0:43:12That's all they could really tell us at that stage.
0:43:12 > 0:43:15# Here's Dominic standing tall
0:43:15 > 0:43:18# Here's Dominic standing tall
0:43:18 > 0:43:21# One, two, three, four, five
0:43:21 > 0:43:25# Here's Dominic standing tall... #
0:43:25 > 0:43:30'It's been over three years since Dominic was diagnosed with a permanent disability.
0:43:30 > 0:43:36'Sarah and Gary are hoping that a ground-breaking operation on his spine can improve his mobility.'
0:43:38 > 0:43:42The doctors said that it won't make him walk independently
0:43:42 > 0:43:45but it will help him walk with a walker
0:43:45 > 0:43:49because his legs get in the way and that stops him doing that.
0:43:49 > 0:43:54It will help his sitting, it will help his posture, it may free up his right arm.
0:43:54 > 0:44:00- 'This operation is very expensive and is only available in America.' - Thanks very much.
0:44:00 > 0:44:04'On Gary and Sarah's joint income of £40,000,
0:44:04 > 0:44:10'they struggle to cover the daily costs of caring for a disabled child,
0:44:10 > 0:44:13'but they've had to raise an additional £60,000
0:44:13 > 0:44:17'to pay for the trip to the States and the surgery.'
0:44:18 > 0:44:21We did a sponsored abseil for 60 people,
0:44:21 > 0:44:24parachute jumps, bucket collecting.
0:44:24 > 0:44:28- A golf day.- A golf day. A black tie event at Wentworth Golf Club.
0:44:31 > 0:44:36- Sponsored runs.- Lots of people have done sponsored runs, cycling.- Cycles
0:44:36 > 0:44:42- We did a quiz night. - A local guy did a 24-hour motorbike challenge round the UK.
0:44:42 > 0:44:46- Yeah.- And we did a big quiz night. - Iron Butt.- Yeah.
0:44:46 > 0:44:52- Yeah.- And who organised all this fund-raising? That's an awful lot of work.- We did.- Sarah did most of it.
0:44:54 > 0:44:59'Even after the operation, Dominic will still face an uncertain future.
0:45:00 > 0:45:04'For Gary and Sarah, there are many unanswered questions.'
0:45:04 > 0:45:09You don't know what he's going to do. Will he walk after this, will he not walk?
0:45:09 > 0:45:13Will he get on with the motorised wheelchair, will he not?
0:45:13 > 0:45:16Will he be able to be in a house and live on his own?
0:45:16 > 0:45:21- Will he be able to drive a car? - You think about crazy things - will he be able to drive?
0:45:21 > 0:45:24- Will he be able to go to work? - Will he get a job?
0:45:24 > 0:45:29If he can't get a job, will he spend the rest of his life on benefits?
0:45:29 > 0:45:32Will we be caring for him until we're really, really old?
0:45:32 > 0:45:38Does it give you financial worries? Do you think, "I need to make financial provision for that"?
0:45:38 > 0:45:43That is the biggest burden of it all We'll deal with Dominic and what he can't do.
0:45:43 > 0:45:49We'll make his life as happy and as loved and as enjoyable as we can possibly make it,
0:45:49 > 0:45:54but in order to do that, it is finances that we will have to manage
0:45:54 > 0:45:57You're really running!
0:45:59 > 0:46:03And at the same time, you're trying to pay off your debts from before.
0:46:03 > 0:46:07- Hmm.- That all sounds a bit overwhelming.
0:46:07 > 0:46:11- Jump like a rocket.- You're going to jump like a rocket. Good boy.
0:46:11 > 0:46:15'I could probably cry my eyes out right here and now about Dominic.
0:46:15 > 0:46:22'And, you know, it eats away at me every single day whenever I see a normal child.'
0:46:23 > 0:46:26So what, we've got some debt?
0:46:26 > 0:46:31You know... What does it matter? We'll deal with it. We're being sensible.
0:46:31 > 0:46:35We're not putting our home in jeopardy or anything like that.
0:46:35 > 0:46:39- We're just living our life and... Sorry.- It's all right.
0:46:39 > 0:46:43I think, what is the point in wasting your life worrying about it?
0:46:43 > 0:46:46Perhaps that's burying your head in the sand
0:46:46 > 0:46:50and people obsessed with their budgets will think, "This is crazy."
0:46:50 > 0:46:53But actually, we've got bigger priorities.
0:46:53 > 0:46:56- Two, three... - LAUGHTER
0:46:58 > 0:47:00# If I were a rich man
0:47:00 > 0:47:03# Yubby dibby-dibby-dibby Dibby-dibby-dibby-dum
0:47:05 > 0:47:08# All day long I'd biddy-biddy-bum
0:47:08 > 0:47:11# If I were a wealthy man
0:47:11 > 0:47:14# I wouldn't have to work hard
0:47:14 > 0:47:18# Yubby dibby-dibby-dibby Dibby-dibby-dibby-dum
0:47:18 > 0:47:22# If I were a biddy-biddy rich
0:47:22 > 0:47:26# Idle-diddle-daidle-daidle man... #
0:47:26 > 0:47:28LAUGHTER
0:47:28 > 0:47:36- How much are your monthly mortgage payments?- With these lovely interest rates, they're about £440, I think.
0:47:36 > 0:47:38£400 a month.
0:47:38 > 0:47:42- So how much are your mortgage payments a month?- 800, um... Yeah.
0:47:42 > 0:47:44- Do you have a mortgage?- No.
0:47:44 > 0:47:48- Do you own it outright? - Yes, I own it outright.
0:47:48 > 0:47:53- And do you know how much your monthly mortgage payments are? - £1,370.
0:48:04 > 0:48:07Can you tell me when you were diagnosed with cancer?
0:48:07 > 0:48:10Yeah, it was this time last year.
0:48:12 > 0:48:15The German, um...
0:48:16 > 0:48:21The consultant told me it was testicular cancer.
0:48:21 > 0:48:26He was very good about organising an operation very quickly.
0:48:26 > 0:48:28I've had a big advantage.
0:48:28 > 0:48:34I got told about this cancer and it's been and gone. It may come back or it may not.
0:48:34 > 0:48:40We're all going to die and none of us know how it's going to be, so mine has just been a wake-up call.
0:48:43 > 0:48:45We don't think about it
0:48:45 > 0:48:48until we're confronted with it,
0:48:48 > 0:48:54then when we are confronted with it, you can decide how to deal with the rest of your life.
0:48:55 > 0:48:58Did your spending change at all since the diagnosis?
0:48:58 > 0:49:04Have you treated yourself more or spent money to enjoy the moment more?
0:49:04 > 0:49:10I did have a little spell when I thought about doing that sort of predictable thing.
0:49:11 > 0:49:16But I think I've been trying to be good with money for too long
0:49:16 > 0:49:22and I did have a brief spell when the BMW M5 was sort of beckoning to me,
0:49:22 > 0:49:26but these things don't change your life, really.
0:49:26 > 0:49:31I think on your death bed you remember holidays, you remember entertaining,
0:49:31 > 0:49:34um...friends, just moments like that,
0:49:34 > 0:49:38so that's where we've tried to spend money on now.
0:49:40 > 0:49:46It's easy to imagine thinking, "Don't know what's going to happen, let's go out for a lovely meal."
0:49:46 > 0:49:47Um...
0:49:47 > 0:49:49Yeah.
0:49:49 > 0:49:53But a lovely meal is not going to put you in debt necessarily.
0:49:53 > 0:49:57You know, I mean, everyone's got different scenarios.
0:49:58 > 0:50:01But let's say you did £200 on a meal.
0:50:01 > 0:50:03That's recoverable from.
0:50:03 > 0:50:09Going out and spending too much money on a brand-new car, that's not so easy to recover from,
0:50:09 > 0:50:12so I try not to do that on a regular basis.
0:50:12 > 0:50:16- And would you do £200 on a meal? - Yes.
0:50:16 > 0:50:21- £40 to £50, I think, is probably the rate. - That's a reasonable amount for you.
0:50:21 > 0:50:26Without thinking about it, I would easily spend £40, £50, £60 on myself
0:50:26 > 0:50:31- You don't really like eating out, do you?- I'm not... - You're not a foodie.- No.
0:50:41 > 0:50:43I'm nearly 61.
0:50:43 > 0:50:45I'm nearly 71.
0:50:46 > 0:50:52Can you explain how long you've been together and how the two of you met?
0:50:52 > 0:50:55We met as I meet all my husbands, playing bridge.
0:50:55 > 0:50:57One diamond.
0:50:57 > 0:51:02'I'm not sure whether we took to each other immediately, but eventually, we did.'
0:51:02 > 0:51:07- Did you, Stuart? Did you take to Martha-Ann immediately?- No.
0:51:08 > 0:51:10You're not playing on your own here.
0:51:12 > 0:51:15Can you explain what you both do for a living?
0:51:15 > 0:51:17Nothing.
0:51:17 > 0:51:19We're both retired now.
0:51:19 > 0:51:22We retired last year.
0:51:22 > 0:51:27- What did you do for a living? - I was a PA to a director of a mobile phone company.
0:51:27 > 0:51:30- And you, Stuart?- I was a solicitor.
0:51:33 > 0:51:37'Stuart and Martha-Ann have been married for 15 years.
0:51:37 > 0:51:43'They live in North London where they've downsized from a house to a flat.
0:51:43 > 0:51:47'They used to be on a combined salary of £80,000,
0:51:47 > 0:51:53'but having both recently retired, they're now adjusting to living on half that amount of money.'
0:51:55 > 0:52:02Obviously, we have a rather lower income than we did when we were both working,
0:52:02 > 0:52:07but then we don't have quite the same overheads and expenses as we did.
0:52:07 > 0:52:12People say you won't need this, you won't need that and you won't need the other.
0:52:12 > 0:52:18We don't buy lunches at work any more, but I still have to buy lunch for here or whatever we're doing.
0:52:18 > 0:52:20We still need clothes.
0:52:20 > 0:52:25I still want my make-up and my perfume and shoes and what have you,
0:52:25 > 0:52:27so to be honest,
0:52:27 > 0:52:30in that sense, real expenditure is no different,
0:52:30 > 0:52:36but we're living on perhaps half of what we had previously.
0:52:38 > 0:52:43Can you describe your average week now? Tell me the structure of your week.
0:52:44 > 0:52:48On Mondays, I go out for a walk with...
0:52:49 > 0:52:51It sounds dreadful. ..Age Concern!
0:52:52 > 0:52:56And then Monday afternoon tends to be bridge.
0:52:56 > 0:53:02The four of us get together, the fou girls get together to play bridge.
0:53:02 > 0:53:05And then Tuesday evening is my lace class.
0:53:05 > 0:53:09Wednesday tended to be again an exercise day.
0:53:10 > 0:53:13Thursdays we've tended to keep for us.
0:53:14 > 0:53:18For things that we want to do together.
0:53:18 > 0:53:22And Fridays, catch as catch can, really.
0:53:22 > 0:53:25And what about you, Stuart?
0:53:25 > 0:53:30- What does your week look like now? - I don't have so many activities as Martha-Ann.
0:53:33 > 0:53:37On Monday afternoon, I quite frequently play bridge,
0:53:37 > 0:53:41so that's what I regard Monday afternoons for.
0:53:41 > 0:53:43Tuesday,
0:53:43 > 0:53:45I do table tennis in the morning.
0:53:45 > 0:53:50And apart from that, I don't think I have any very regular activities.
0:53:51 > 0:53:54I'm much more relaxed about it.
0:53:54 > 0:53:56Come on, Chris, we can win this.
0:53:59 > 0:54:02How much do you spend on food, do you think?
0:54:02 > 0:54:05Well, we were working it out the other day
0:54:05 > 0:54:12and I think we spend somewhere between £400 and £500 a month on food, one way or another.
0:54:12 > 0:54:16- Is that a lot?- I think it is. There are only two of us living here
0:54:16 > 0:54:18All right, we do entertain.
0:54:19 > 0:54:21- Is it too much?- I think so, yes.
0:54:21 > 0:54:26I don't know how long we'll live and how long we've got to make this money last for.
0:54:26 > 0:54:30Stuart's father was 96 and his mothe 86. That's a good, long...
0:54:30 > 0:54:35You're both keeping fit and you both look very well and young for your age,
0:54:35 > 0:54:37so you might have another 40 years.
0:54:37 > 0:54:41Exactly. My father's 89 and still going strong.
0:54:41 > 0:54:45So have you planned for that financial future?
0:54:45 > 0:54:47- In theory, yes.- No.
0:54:47 > 0:54:51In theory, yes, we've got our pensions and we've...
0:54:51 > 0:54:57But we've not made any extra provision. We haven't thought about having to go into care homes.
0:54:57 > 0:54:59I hope it doesn't have to happen.
0:54:59 > 0:55:05- And you reckon you're overspending on your income at the moment? - I think so.
0:55:05 > 0:55:09When you're drifting round the supermarket, are you thinking,
0:55:09 > 0:55:12"It would be nice to have asparagus for dinner,"
0:55:12 > 0:55:16or are you thinking, "It would be nice to have asparagus for dinner,
0:55:16 > 0:55:20"but I'm trying not to overspend, so I'm going to buy cabbage"?
0:55:20 > 0:55:23The asparagus is already in the basket!
0:55:27 > 0:55:32No, I still buy the asparagus, I still buy the strawberries out of season.
0:55:32 > 0:55:36There are some fruits I draw the line at buying out of season.
0:55:36 > 0:55:39- Which ones?- Cherries I won't buy out of season.
0:55:39 > 0:55:43They don't taste nice and they're extortionately expensive
0:55:43 > 0:55:48And similarly, things like peaches and nectarines sometimes aren't very nice.
0:55:48 > 0:55:54- That's because they're not very nice, not because they're too expensive?- It's a balance, isn't it?
0:55:54 > 0:56:00If they tasted nice, I'd buy them, but because they don't and they're expensive, I won't spend the money.
0:56:06 > 0:56:11Financially speaking, is this the life that you pictured for yourselves?
0:56:11 > 0:56:16I don't know what financial expectations you had, but have you realised them?
0:56:17 > 0:56:19'Great strike!'
0:56:19 > 0:56:22I... I don't know why.
0:56:22 > 0:56:25I probably thought that we would somehow...
0:56:25 > 0:56:31I knew how much was coming in and I somehow thought we would be better off...
0:56:31 > 0:56:33than we are.
0:56:33 > 0:56:40It sounds awful because £40,000 is not an insubstantial income, 40,000-plus.
0:56:40 > 0:56:44We don't lead a bad life and we live in a very nice home
0:56:44 > 0:56:47and it sounds very spoiled, I suppose,
0:56:47 > 0:56:51to say that it's not enough somehow.
0:56:52 > 0:56:56You imagined that you would have had more?
0:56:56 > 0:57:00Yes, I think more flexibility, more freedom perhaps than...
0:57:01 > 0:57:08But when you ask me the question, what freedoms and flexibilities don't I have? I'm not actually sure.
0:57:08 > 0:57:12Have you got a pot for Deanna if the worst should happen
0:57:12 > 0:57:16or have you got a pot in case you can't work?
0:57:16 > 0:57:20Are you providing for those things at the moment?
0:57:21 > 0:57:26No, because they come under, in my mind, the things that are too big to deal with.
0:57:27 > 0:57:30I can't start a pot up...
0:57:31 > 0:57:34Well, actually, a funeral pot might be useful to have,
0:57:34 > 0:57:39but you can't live life as if it's about to end or the money's about to run out.
0:58:04 > 0:58:06# We're in the money
0:58:06 > 0:58:09# We're in the money
0:58:09 > 0:58:14# Yes, we've got a lot of what it takes to get along
0:58:14 > 0:58:16# Let's spend it
0:58:17 > 0:58:19# Let's lend it
0:58:19 > 0:58:24# Let's spend it, lend it, send it rollin'...
0:58:24 > 0:58:26# Along... #