Mortgage Rate Rises

Delayed gratification. When you're older you'll spend less and "do" less so try ask yourself what the older you would say about any sacrifices youre making right now.

Eg is your 70yr self going to be glad you went without for so long during your better years just to have another £xxx in the bank ?
 
Yep. Which is why I've pretty much stopped doing it now. I even bought a hot spa last year!

The share market can do the rest of the heavy lifting now.
 
gazref said:
Delayed gratification. When you're older you'll spend less and "do" less so try ask yourself what the older you would say about any sacrifices youre making right now.

Eg is your 70yr self going to be glad you went without for so long during your better years just to have another £xxx in the bank ?
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100% glad. The early sacrifices paid off x10 fold. If you do it right the amount of years you sacrifice is far less then the amount of years you benefit. Though it will be different for everyone based on precise situations. One just has to work out the right balance of sacrifice to benefit.
 
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Feeling for a lot of people, this thread and others can have a semi brag vibe with 'so glad I fixed back in 2019'

And yes some people in the know may have made calculated decisions, but the large majority have been on 2, 5 and 10 year fixes since they started on the home owner ladder. So pot luck plays a big part of when you're contract came to an end.
 
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regulus said:
TBH, we're in the same position here. I spent about 8 years of my life going without, just to set ourselves up.

Our DTI expenses are 11.36% of our monthly income. I going to wait until it's sub 10% and then let rip. Nothing crazy, just some nicer things. Stuff we've started doing anyway, but more guilt free now.

We're looking at buying a new car for the missus. And not just a 'good enough' beater like she's got now, but something nice. I'm still trying to scare up the courage to ask over on Motors for their opinion.

Hell, last night I even bought Diablo IV on the PS5, at full asking price!
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A health scare for me and very recent loss of my partners mum really hits home "time is short". Her parents were quite well off but hearing her dad say "we had an these plans" makes it real.

Not waiting around any longer.
 
I bought Zelda Tears of the Kingdom at full price!

I do try to save more now, but there are things I still do while I am young, iike travelling. I am not putting that off because if I am injured or ill, I might be able to sit at home and play games, I won't be able to go see the world. So travelling is something i won't cut back on. It's not something I save for retirement.
 
413x said:
A health scare for me and very recent loss of my partners mum really hits home "time is short". Her parents were quite well off but hearing her dad say "we had an these plans" makes it real.

Not waiting around any longer.
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My partner went alone on a mortgage of 340k for a 600k 1bed at 4.9% 2 year fixed. Bit of a headache for me.
 
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Raymond Lin said:
I bought Zelda Tears of the Kingdom at full price!

I do try to save more now, but there are things I still do while I am young, iike travelling. I am not putting that off because if I am injured or ill, I might be able to sit at home and play games, I won't be able to go see the world. So travelling is something i won't cut back on. It's not something I save for retirement.
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Yep, always do that while you are still young and well. Dont be part of the "I go traveling when I'm retired" camp. Will be too old to do many things physically.
 
gazref said:
Delayed gratification. When you're older you'll spend less and "do" less so try ask yourself what the older you would say about any sacrifices youre making right now.

Eg is your 70yr self going to be glad you went without for so long during your better years just to have another £xxx in the bank ?
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Hehe. Why prepare when the government will bail you out at every given opportunity? We just blew our savings on a brand new car.

YOLO and all that yeah ;). GR86 is now in the build process!
 
413x said:
You literally never know when life is going to send you the ultimate curve ball
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Yep, seen it happen too many times. Get hit with an terminal illness way before retirement.

Didnt go anywhere for years due to saving (still did stuff within the UK) but soon as I got my mortgage. Make up for it by visiting a few countries.
 
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413x said:
You literally never know when life is going to send you the ultimate curve ball
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Yes, make the most while you are young, I realised from my dad and his mates when you hit a certain age, life is changes and old age thinking sets in.
Balance it out is the key.
 
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Mrwong said:
Yes, make the most while you are young, I realised from my dad and his mates when you hit a certain age, life is changes and old age thinking sets in.
Balance it out is the key.
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The opposite side of the coin is basic pension, basic food, no car, bus pass only.

You need a stash when you do retire.
 
malachi said:
Yep, seen it happen too many times. Get hit with an terminal illness way before retirement.

Didnt go anywhere for years due to saving (still did stuff within the UK) but soon as I got my mortgage. Make up for it by visiting a few countries.
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It's not just personal circumstances but geopolitics too. E.g. if you were delaying travelling to Syria or Hong Kong in the future, those places have fundamentally changed in recent years.
 
Chojin said:
It's not just personal circumstances but geopolitics too. E.g. if you were delaying travelling to Syria or Hong Kong in the future, those places have fundamentally changed in recent years.
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Well I always wanted to visit Russia and Ukraine (im serious) but that's clearly not going to happen now.

Went to HK in 2013. Not sure whats different now. Apart from if you are trying to buy property there:D
 
For all the talk of unaffordability, I see plenty of top end cars being driven around, didn't used to see many Bentleys but I've seen 3 different ones locally in recent weeks (could be one offs/visitors?) Lambos, Range Rovers, not only top end but lots of generally expensive cars around also.

I guess it's the rich and poor divide on show? COVID money? They can't all be builders...

Even in the motors section on here there are growing numbers of super cars.
 
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sigma said:
For all the talk of unaffordability, I see plenty of top end cars being driven around, didn't uses to see many Bentleys but I've seen 3 different ones locally in recent weeks (could be one offs/visitors?) Lambos, not just top end but lots of generally expensive cars around also.

I guess it's the rich and poor divide on show? COVID money?

Even in the motors section on here there are growing numbers of super cars.
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Leased cars, the way that industry is going. Like music, games and films etc.

"You'll own nothing and be happy"
 
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