"I'm Skint"

Richdog said:
Ahh, the UK obsession with buying houses and getting tied into mortgages as early as possible in life, thus financially crippling themselves during what should be the most fun times of their lives... never really understood it myself.
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Sadly the UK rental market is so poor it's either buy early or otherwise later financially cripple yourself with rent (plus saving to buy).

The only reason I can see renting being a better idea is if your salary is likely to significantly increase by moving job roles/locations regularly. (even then could rent out your initial house)

Considering most mortgages aret far off rental prices (smaller even in many cases), once you're past the initial deposit plus a rainy day fund you can still have fun :p.

I have had to reduce my 2 holidays a year down to 1 though this year :p
 
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Richdog said:
Ahh, the UK obsession with buying houses and getting tied into mortgages as early as possible in life, thus financially crippling themselves during what should be the most fun times of their lives... never really understood it myself.
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Most people, myself included wouldn't cripple themselves to buy a property. Also I can't think of a single other investment that I have ever made which has done as well as the almost 50% my property has increased in value in the last 2 years. It's an odd one, on one hand your paying out large sums to a mortgage but on the other hand your house has the potential to earn more than you do in a year.

Swings and roundabouts really, if your renting all your doing is helping to clear somebody else's mortgage for them which to many might also seem like madness.
 
Richdog said:
Ahh, the UK obsession with buying houses and getting tied into mortgages as early as possible in life, thus financially crippling themselves during what should be the most fun times of their lives... never really understood it myself.
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Not a good idea for anyone still moving around but just above is an example of someone with a lodger paying him more then his mortgage every month. That big debt can also be cheaper then renting, depends how people play it.
Personally I'd want to fix rates right now for a decade or more, I think its an opportunity if it should fit your circumstances
 
Richdog said:
Because it is unnecessary, and unhealthy.
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Unhealthy is buying two packs of 53p biscuits as a week's worth of food, because the fleapit you rent lacks the facilities to cook anything cheaper and heating takes up most of your money.

Richdog said:
You could buy a large saver bag of oats and eat them with water each morning.
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Trying to LOSE weight here, not pack it on with carb overload!! :p

Richdog said:
If your profile description is still true then I fail to see how you can be so poor that you need to skip meals, when there are truly poor people that eat two to three square meals a day.
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If you think a hydro-engineering technician is in any way a highly paid job, please feel free to have words with my management...
If you think that my hobbies are especially expensive, think again. Most of that I can do for free.

I don't desperately need to skip meals for financial reasons. I did once, but that was a few years ago. I just stayed in the habit of not eating and now I actually have a few quid to spend.
But there are things in life which cost proper money and I can't have all of them, so I choose to make cuts. Right now I'm saving up for a Golf.

Jeez, no wonder the OP doesn't get any company at lunch, if people with less money are now having to explain and justify why they aren't splashing the cash!! :D
 
daz said:
I appreciate what you're saying but from what I understand the book is based on decent statistics of a relatively substantial sample size.

Anyway I just thought it was an interesting point - It was just a question mark about consumerism and consumption in general; mainly in response to those that said their outgoings increased just as quickly as their wages were rising with nothing left spare after everything else was accounted for. :)
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That is a fair point too mind ;)
 
Well I have several thoughts on this

1. People who say there skint and are actually saving most of there wage a month as they have little outgoing. You know that's not the same thing as actually been skint don't you? Given there saying this around people who I actually know are skint

2. People who do save and have age on there side and yet put there money in accounts with the most pitiful rates of return and don't realise there money is actually being eroded by inflation year on year! But it's alright because I am saving!

3. When I started earning decent money I am so glad I started investing it. Shares, funds, p2p etc. It helps I find business and economics interesting so saving and reading about all the different investments etc has actually become a hobby almost. Plus a lot of have costs to get out so this also discourages you from selling and buying consumerist tat.

4. I wish I had started investing earlier. It's not rocket science.
 
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Guest2 said:
I've heard it for years from numerous different friends but to me just seem like a poor excuse. Nights out I could understand but some even say it when I ask them if they want to get lunch which is £7 for a full meal and pint!

Based on someone earning 20k the takehome would be £1415

Base figures for a nice(ish) apartment / half rent in a good house;
Rent £400
Bills £250
Food £220 (£50 x 4.33)
Lunches (£8 x 20) £160

£385 disbosible income a month left over

How can people be skint if you have a job earning 20k + (presuming you are sensible, none alcoholic / drug user / gambler / hooker addict etc.)
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People are dumb with money. Simple as that. Wander of to the graphic card section from time to time and you'll notice that a lot of people are willing to part with their entire net worth (or a large percentage of it) for some of the latest crap.

Some people see it as their duty to ensure they're left with nothing at the end of the month and just live it up without any thought for tomorrow.

So yes, can easily enough believe when people utter that.
 
You live to your means.... and budget.

Don't budget and be prepared?

Always be prepared for a rainy day and have bit set aside always because they will happen.
 
Diddums said:
I know someone who earns £50k a year and still struggles to make ends meet. It all started with "I'll grab a capital one and vanquis card to sort out my credit score".

This guy now eats beans on toast and can't take a weekend off work without having to plan out the next 3 months of overtime to sort out his bills. It's embarrassing.
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Apart from getting into diffs in the first place, I applaud the guy as he didn't take the easy way out with bankruptcy. I guess it depends on your viewpoint.
 
helpimcrap said:
You live to your means.... and budget.

Don't budget and be prepared?

Always be prepared for a rainy day and have bit set aside always because they will happen.
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No **** Sherlock had one of them today....... :mad:

Garage said £390 to fix car for MOT, turned up and he said a shock absorber that usually cost £50 for most cars is £100 for our car! :eek:

Bang another £50 on that price!:eek: Good job I had a few extra in my pocket.
But now am bloody skint got about £120 to last a week for the whole family.

This might sound a lot but trust me its not with outgoings, petrol, dance fees etc.

So as someone said above its down to ones perspective of the meaning of skint. ;)
 
Another one that used to make me laugh were work colleagues who worked on Creda/Hotpoint with me. Many of them would live their lives taking overtime into account but never thinking when there might not be any. I saw many fights on the shop floor that I nicknamed 'overtime wars' because workers got so serious. I actually lived my life on 3 days a week so I'd have plenty to spend which meant I lived in a terrace with a rust bucket car but 3 years later we were able to afford a nice semi still on 3 days wages.
 
When the planets align;

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:D
 
20k Salary doesn't go far these days, my outgoings are £28k alone :(

Mortgage 305
Ground Rent/Lease 145
Loan 185
Water 20
Gas 30
Elec 30
Virgin Mobile/BB/TV 45
Food 200
Fuel 200
Gym 20
Council Tax 90
Car Tax 25
Car Ins 20
Home Ins 15
Lotto 10
PSN/Flix/Amazon 20
Bank Account 5
Saving 235
Pension 250

It's true though, the more you earn the more you spend, I was earning around 20k in my early 20's and I don't have that much more disposable income now. Although I do own my own place and drive a nicer car now.
 
you live within your means.

When we earned £60k between the two of us we spent £60k, now the better half has given up work we earn 20k and we spend 20k. Every month is a skint one.

Some of the OPs bills are way off, take home is already incorrect so that's a bad start point!
 
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