how do people stay out of debt and move up in the world?

buy a house, do it up/put an add on on it, and sell up and move on. ive just bought my first house for 215,000, and we're hoping to sell up next year sometime for 300,000. it was in a bit of a mess thats why we got it so cheap. just finishing it off now :)
 
I've worked in a school as an IT technician years ago mind you, all these are is stepping stones to better jobs.. Make sure you learn all you can and get them to pay for some decent qualifications, Eg microsoft certifications.. then get a better job. you'll be in a strong position in the future when you look for jobs employers love to see that a young lad has lasted in a school job..

as for your question I have no idea, I'm always in the red!!
 
Loads of ways.....but being 20 I wouldn't worry too much about it. Whilst buying a house (and having a mortgage) and getting married are part of parcel of life (for a lot of people), the majority of people wouldn't expect you to be to concerned about this at the age of 20.

As for moving up in life, be ambitious, study outside of work to enhance your career, move companies to get payrises if your current employer arent willing to give you anymore cash. Live within your means, whilst credit is readily available these days, do you really need a 42" TV on 20%APR that will take you 3 years to pay?

Seriously though, don't spend the next 10 years worrying about paying your mortgage off early, whilst it may be a nice position to be in, there's probably an awful lot in life you may miss out on.
 
Stop trying to keep up with the Joneses. You don't need a bigger TV, a bigger house, a better car. None of this is the key to happiness.

Avoid the "Buy more things" culture and do something that makes you (and those that you love) happy.

Quit the Rat Race.
 
cleanbluesky said:
1
2) Don't buy that big, flat, shiny Lookedy Toov TV set on interest free credit

3) Don't buy DFS sofa, regardless of whether you'll have to pay now, or not
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ive already got the big TV and my parents work for a company called emporio homes (used to be sofa works) so i got my sofas on the cheap :D there always telling me never to go near DFS

luckily ive already got everything i want in the way of luxuries (for now :p) the only expense still to come is that the missus will be driving soon, but shes already bought her car and we're saving £200 that goes into a shared account towards her insurance, tax, mot, and any other required work that may occur over the year, she already has this years payments saved up so we're ahead of ourselves which is also good

thanks for all the advice posted, im going to try and see what i can do about more qualifications through my job and for now ill stop worrying about trying to get "up in the world" as it were

i guess i should really learn to drive at some point so i can widen my job possibilities too
 
Deluxe1 said:
If rather be in a lower paid job that i loved (as you do) than in a higher paid job that allowed me to purchase more material items but hated.

Its all about balancing it out.
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agreed, as long as you can afford a house and the opportunity to go on holiday/go out a bit then the happy job side of it is a winner. :)
 
Deluxe1 said:
If rather be in a lower paid job that i loved (as you do) than in a higher paid job that allowed me to purchase more material items but hated.

Its all about balancing it out.
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well said and agree with you, its just hard finding the balance.
 
[TW]Fox;10787544 said:
Didn't notice that bit. Have to agree. Chill out and enjoy life before you shackle yourself with marraige to a girl you've known in a mature fashion for only a couple of years and a load of kids.

You've got decades and decades to build your life. Don't rush into it.
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There is that point of view.

I was married by 20, with a baby on the way.

By 32 I've got two houses ( i have one on buy to let) and all ive ever done is drive a van.
I've always got the DFS sofa on buy now pay latter, and done the same with electricals, I've just bought a new TV today on buy now, pay later.
If you pay it by the due date, it makes no odds. If you have the money people say, why not pay for it now?

Because i dont want to, thats why.

My old man was the same, he made his money, had money in the bank and he still bought now and paid later on things.

You need to know your limitations and dont over spend, credit cards and interest free credit are handy things if you have more than half a brain, but also the worse things to get involved with if you dont.
 
easyrider said:
Debt is life.

Unless you have rich parents or win the lottery.

At some point DEPT has to happen even if its for a short time.

Property developers on their first road will go into dept to start

There is good dept and bad dept.

Student loan for example is good dept.

Paying 28% apr on a credit card is bad dept.
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Any reason for continuously spelling debt wrong?
 
atpbx said:
There is that point of view.

I was married by 20, with a baby on the way.

By 32 I've got two houses ( i have one on buy to let) and all ive ever done is drive a van.
I've always got the DFS sofa on buy now pay latter, and done the same with electricals, I've just bought a new TV today on buy now, pay later.
If you pay it by the due date, it makes no odds. If you have the money people say, why not pay for it now?

Because i dont want to, thats why.

My old man was the same, he made his money, had money in the bank and he still bought now and paid later on things.

You need to know your limitations and dont over spend, credit cards and interest free credit are handy things if you have more than half a brain, but also the worse things to get involved with if you dont.
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If you've got the money in the bank, you have to be a fool not to use buy now pay later. It's interest free money against the money earning interest for you...

All the people who claim credit is bad or evil just have no discipline.
 
vonhelmet said:
I'm sure DFS stands for Dodgy Finance Schemes.
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They arent though.

You get the sofa, you pay nothing for a year, then pay the balance over 3 years with no interest.

They dont charge you for settling early its the cost of the sofa spread over 4 years.
 
atpbx said:
They arent though.

You get the sofa, you pay nothing for a year, then pay the balance over 3 years with no interest.

They dont charge you for settling early its the cost of the sofa spread over 4 years.
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The problem with DFS isn't the finance, it's the inflated prices and poor quality of their suites. If you're a cash buyer, you're basically paying what you would pay if you took it on finance elsewhere, because DFS have effectively put the finance charges on all their prices then said "it's the same for cash or finance" with their offers.

DFS were around twice as much as the well established local furniture shop we got out corner suite from (25% off at their 150th birthday weekend). But if you factored in the finance they offered (we didn't take, we paid cash), the costs worked out similar (ignoring the discount).
 
But I was under the impression that DFS was very cheap, because they have a daily sale?

Surely the quality of the furniture they sell cant be that bad?

If not DFS, where?
 
Mrbios - you're doing exceptionally well (from my point of view anyway). Stick with what you have, don't overextend yourself. Just work your way up the career ladder for now.
 
sunama said:
Surely the quality of the furniture they sell cant be that bad?
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Oh yes it can. It's made from the cheapest wood they can find and then held together with cheap staples. If you turned one over and took the bottom cover off you'd be shocked at how badly built it is.


M
 
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