It’s one week to go before pay day and after reviewing my monthly bills, bank account balance and my purse I’ve found my bank account is covered in cob webs and worse my purse has been rented out to moths! How am I going to manage another weekend and week before the cob webs are dusted away and sunshine begins to gleam from my purse? With the grey pallor lifting from my cheeks I was left pondering a thought. Would the “the nothing” in my pocket, purse or bank account today be more valuable than ‘the nothing’ that was in my pocket, purse or bank account when I started university in 2003. Let me review back to 2003. As a university student my main outlays would have been petrol to get me to university and food to sustain brain power. Funny enough those happen to be the two things I need in my pot at the end of the rainbow to cover invariably! Take petrol for instance, in 2003 I paid approximately 75p per litre for petrol but by the end of 2013 average prices were sky rocketing to 131p per litre. The cost of a loaf of bread during the same period was approximately 60p for an 800g standard white loaf of bread. By the time it got to 2013 I was paying anywhere between 80p to £1.00 for a loaf bread that would tantalise my taste buds. And so the comparison could go on and on and on. It disturbs me that not one of the MP’s ever stopped to ask my opinion on the ever increasing cost of living. The wage increases were never in line with the cost of living increases that I have faced. I am saddened to think that “the nothing” I had in my pocket, bank account and purse in 2003 was actually worth more than it is today. It leaves me to question:
Will “the nothing” I have in my pocket today be worth the same in 5 years from now? I doubt it!
Perhaps I didn’t fully know or understand what “the nothing” in pocket 5 and 10 years ago was worth to me or what I had back then. However, one thing I do know it that the nothing in my pocket now will be worth more than the nothing that I will have in my pocket 5 and even 10 years from now. After considering this concept I have decided that I need to appreciate my “nothing” in my pocket, bank account and purse now before it depreciates even more!
If you need advice on the nothing in your pocket please contact Eloise Howe ACA, Michael Fitch LLB FCA (Director) or Iain Lundie ATT CTA (Director) on 08456 89 90 91 or visit www.fitch.tv . Fitch Chartered Accountants specialise in advising SMEs and Charities on a range of tax, accounting, auditing and regulatory issues.