Oh I don't disagree. I have spent most of my adult life just buying whatever I wanted and going wherever I pleased. Money disappeared as fast as I got it.
Trying to kerb that now as I'm getting on a bit!
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Trying to kerb that now as I'm getting on a bit!
Enjoy your later years claiming benefits and shouting at people
Haha sounds like a plan
Haven't started that yet but in most otherways following on like my dad. When you get to a certain age you don't care what you say
And you also have to get to that age. Lots of things can happen between now and then. So it's understandable why so many young people have no future sight.
Personally I don't expect to live beyond retirement age whatever that is in 40 years or so. Probably 80 by then. Don't expect I would want to live when my body is starting to break down and fail. Alittle morbid but
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just over 2yrs for me, mum and dad made it to their 90's
This. Funnily enough, not once in my life have I needed to use a straight line graph or explain Shakespeare's use of language in my everyday life..
What happens in a case like this? Does any remaining money become inheritance or does the care home / state keep it and see it as profit?
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Soldato
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I am not really for financial education during school.
Personally I think it would struggle to take hold for most.
I mean we have had this conversation before but when I was in school endowments were the main mortgages, after that came the fad of interest only, and now most are fixing repayments
I've missed out some of the others like trackers etc
You had but no longer do MIRAS. You have added ISAs although they replaced another similar limited account that the name escapes me, ah yes TESSA
Pensions landscape also changed dramatically from mainly DB to mainly DC and the addition of SIPP
This is just part of the equation.
I would propose that there would be far more benefit of having some basic relevant to the time college night school education. Probably 3 or so weeks would allow the main subjects to be "taught".
Where the only people going specifically wanted the knowledge. I would happily give up a few nights myself, I am sure many financial professionals would.
Personally I think it would struggle to take hold for most.
I mean we have had this conversation before but when I was in school endowments were the main mortgages, after that came the fad of interest only, and now most are fixing repayments
I've missed out some of the others like trackers etc
You had but no longer do MIRAS. You have added ISAs although they replaced another similar limited account that the name escapes me, ah yes TESSA
Pensions landscape also changed dramatically from mainly DB to mainly DC and the addition of SIPP
This is just part of the equation.
I would propose that there would be far more benefit of having some basic relevant to the time college night school education. Probably 3 or so weeks would allow the main subjects to be "taught".
Where the only people going specifically wanted the knowledge. I would happily give up a few nights myself, I am sure many financial professionals would.
It’s bonkers that we don’t teach proper budgeting and basic financial skills, how to cook and how to do basic DIY stuff.
Its like the "you arent always going to have a calculator in your pocket" thing
Basic math is good but you don't need to know complex stuff unless you opt for it.
Pretty much nothing I learned in school was actual useful.
So many people don't have common sense when to comes to finances. Should be forced down kids necks on how the world works.
Most my colleagues at work are always skint because they just spend spend spend. Every morning it's "want a dominos?" "HECK YeeaaHHH we dooooo" while they get deeper into their overdraft waiting for pay day.
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That’s what parents are for. Schools aren’t there to teach basic life skills
Can't learn finances from parents who are bad at it themselves. Isn't there a massive drop of in birth rates with "successful people" compared to the the less privileged.
World is going to look like Idiocracy eventually.
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Didn't you cook at school or do wood work etc?
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We're not far from it already
Financial "education' is irrelevant if you dont have surplus money to begin with. Sticking money you can do without into stocks/pensions doesn't mean you're clever or educated, it means you've been paid enough to think about tomorrow. When I had 400 month to live on after bills and fuel I didn't know what an ETF was.
The pull yourself up by your bootstraps talk is just giga cringe that means you're divorced from reality. Low wages + high cost of living =Foxed
The pull yourself up by your bootstraps talk is just giga cringe that means you're divorced from reality. Low wages + high cost of living =Foxed
Good point. Might as well just give up if you're currently on low wages and haven't bought a house yet.
In other news, most people (even those that aren't rich!) have property and a retirement fund and many don't make very good decisions about how to manage them.
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I've commented on this before but there was a real eye opener for me when I went out for dinner with some colleagues at my old workplace about six months ago, most of them were about a decade younger than me. One of them was nearing completion on a house and they were talking about interest rates in a very matter of fact way that the current situation (at the time when rates were 4%) was crazy and that rates would have to come down soon. It was considered a temporary blip with no possibility they could rise much further and the older ones amongst us who cited the higher rates we had 15+ years ago were sort of laughed off as though we were talking about how we used to ride our horses to work and light our homes with candles. I think because almost a whole generation has entered adulthood with near-zero interest rates and seen that sustained for a decade, that's their baseline of normality. There were people on this forum too saying things like "I'm thinking I should stay on SVR for a bit until rates fall".
That said, longer fixes being cheaper than shorter ones indicates that it's not just the homebuyers thinking rates will drop in the medium term, the lenders must do also.
We never cooked proper meals, they changed the curriculum just before I started so we spent years designing healthy snack bars with packaging, bars ding and advertising instead of cooking actual meals. My brother a couple of years older used to bring home a meal for the family!