Very similar to my lifestyle, except I change cars once a year.
Gambling has got to be the absolute worst way to "spend" money.
Am I very wasteful with my money or is it the norm these days
- Thread starter willhub
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Very similar to my lifestyle, except I change cars once a year.
Gambling has got to be the absolute worst way to "spend" money.
Depends where you live...in my early 20s I lived in a rented shared house...it was cheap and very much fun lol ...
Thought I would hate it...but it was a professional house rather than a student , dole doss house...
Either way that sounds like Hell on Earth to me. I've had two lodgers who were great and it still started to grind on me after a while - I'm one of those weird people who needs alone time. I spend all day at work dealing with people and that's enough.
![[FnG]magnolia](/styles/overclockers/avatars/9.png){kind=avatar}
Caporegime
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I know this is nothing to do with your very well made point but I'm stealing this for a lyric or album title
Soldato
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How much did your house cost then compared to now? Would a similar low wage pay it.
Edit: the above post identifies this very well
Way for mass generalisations about the youth
The house is only a 2 bed semi and cost 73k, but I was earning less than 15k at the time, yet managed to save up a 12k deposit. I was dedicated to getting on the property ladder at all costs.
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You would have needed more dedication than that if you were born 5 years later. Perhaps you could have stopped eating for a few years.
But you agree it is more difficult now? Irrelevant of extra iPhone purchases..
I think there was a BBC article recently saying homes have gone up 200% and salaries about 20% (i.e. You wouldn't be able to afford said mortgage
Im one of few people my age lucky enough to be able to buy a house, and yes I agree it required a lot of saving.
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My current and last TV I bought 2nd hand from friends, the HiFi (home cinema) have not been upgraded, I tend to buy the best I can afford at the time of purchase and keep them for years. So every once a while I will have the latest tech, like eventually I can see myself dropping £1k on a new iPhone and for that 12 months I will look like an idiot who spent all that money on the phone but to balance it all out, it will be kept for 4-5 years.
lol. What are you buying for 73k in 2018?
Very easy to say that young people don't have the dedication, when they have had the means taken away from them and then mocked by the same people who have made fortunes from the increase in property prices because they happened to be in a position to buy when houses were actually affordable.
Everything is changing now in terms of ownership, people are happy to rent houses, lease cars etc and then as long as they can cover their monthly expenses that's about as much financial planning as they do.
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I've now cut back massively on my eating so i'm saving hundreds just from that, no more subways for lunch for me D: and i've also decided to walk around the office with a pot demanding my colleagues to give me their spare change, weirdly i've made £5 from it xD Going to a good cause mind....The Gravy Fund.
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lol. What are you buying for 73k in 2018?
Very easy to say that young people don't have the dedication, when they have had the means taken away from them and then mocked by the same people who have made fortunes from the increase in property prices because they happened to be in a position to buy when houses were actually affordable.
Everything is changing now in terms of ownership, people are happy to rent houses, lease cars etc and then as long as they can cover their monthly expenses that's about as much financial planning as they do.
But I'd be earning considerably more than 15k, so it's all relative
The house is worth 140k now, about double what I paid, but I'm also earning more than double.
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But I'd be earning considerably more than 15k, so it's all relative
The house is worth 140k now, about double what I paid, but I'm also earning more than double.
Yes, it's all relative and the relationship between wages and house prices has changed dramatically since 2002. I hope you're starting to twig.
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So an average salary and less than one year's worth of that salary as a deposit and you could afford "only" a 2 bed semi.
"Dedcation" is not the only reason you found it easier to get on the property ladder than people trying to do the same today.
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People just don't want to give up their new iPhone, expensive holiday every year and posh new car
I had none of that. I watched every penny I earnt back then.
I had none of that. I watched every penny I earnt back then.
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People just don't want to give up their new iPhone, expensive holiday every year and posh new car
Soldato
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Oh yes, I have some nice toys now
But they came long after my house. And long after I started earning better money.
I have earned the right to treat myself
It's self entitlement these days, the must have culture. Not everyone of course, but generally speaking.
Don't worry, it's just as bad for someone at 23. I find a large amount of the older generation that way, and keep seeing those my age using about six different descriptive words I can't even understand to explain something relatively straight forward, like they fancy another bloke, but not off looks, etc. The vast majority just get on with things, but the militant ones (e.g. everyone can think of the vegans here) are the nuisance. House deposit for me was going well, but decided to treat myself buying or doing things with the last few months worth of disposable income. Balancing life with saving isn't easy, wasn't before and isn't now.
But I'd be earning considerably more than 15k, so it's all relative
The house is worth 140k now, about double what I paid, but I'm also earning more than double.
Sounds very simplistic given groceries and transport/commuting costs always rise above inflation which would seriously impair your ability to save.
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It's not groceries and commuting costs that impare saving, it's iPhones and holidays
My brother goes on about 10 expensive city breaks a year.
Just depends on priorities.
You're speaking my language mate.
I had an iPhone 6 Plus for three years, sold it on (£200!) and bought the iPhone X, much the amusement of colleagues and friends who called me daft and flash for doing so.
But, they see nothing of upgrading their phones annually, on high priced contracts that roll on forever. I buy my phones outright and run relatively cheap, sim only deals (which often see me having more data/minutes/text etc. than that of my peers). But, because I bought the dreaded "£1,000 phone!!!11!!!", and their's are £700-£800, of course I'm the moronic fool with all the cash.
As you say, balance it all out over a few years and you begin to see the real picture. Mine runs much cheaper.
Elsewhere I've started to use Depop for used clothes (bought jeans for £12 that are £40 in River Island), they looked brand new to me.
To bring it back on topic I think there's many things one can splash their cash on these days, certainly more than back in the day. There's so many glamorous toys to desire but if you sit back, try to understand what you really want, and what you can live without, I'm sure we could all stand to save a few quid here and there. Whether or not it's wasteful is another question entirely.