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Money Frugality

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Everything posted by Money Frugality

  1. This. Your house is worth what you want minus the rest of your living life worth of extra commuting and extra travel costs to basic amendities.
  2. Also the majority of 60+ year olds who had high wage inflation over the years who can't afford to retire paradox.
  3. Your mistake was not looking at the figures.. This assumes the average graduate will be on 40k after 5 years. The average graduate isn't doing anything related to their course with starting salaries not even at 25k. Whether that's down to life choices or the current job market, I don't know.. Take this however you will: https://www.theguardian.com/education/2016/aug/13/quarter-of-graduates-are-low-earners These debts are going to be written off and the black hole will be staggering.. Repayments will all come down to inflation:wage growth and if it wasn't for traders shorting the pound to oblivion they will both remain low.
  4. They don't. I know people who get finance from alternative lenders who pay a 1k deposit and huge monthly payments..
  5. Rest assured, this is going to be a hung parliament.
  6. Dont be a fool it's everyone of all ages & incomes buying finance cars! It's just how obvious it is that it's been financed. On topic I've been posting about this for ages, the quicker it all blows up the better used cars/bikes are having their prices held artificially high by secondary sales financed. Auto trader stock may be worth a punt with the glut of off finance cars ready to hit the market soon. Pay up front to advertise fortnightly I believe their model is. It's on my watchlist for 2018 .
  7. Not bad for three months Average £1k per house. http://www.yorkshirepost.co.uk/news/billions-wiped-off-value-of-homes-1-8494169
  8. Meanwhile in Britain, the kids complain about house prices whilst their parents price them out with multiple BTLs.. The parents then complain they have to cough up a deposit because their kids can't buy a house.
  9. High household debt (£200B), (10.6% annual growth), pitiful savings (£100) , abysmal household savings rates (3%), inflation on the rise, weaker sterling, 9/10 new cars bought via PCP/Lease, Deposit Contributions.. http://www.telegraph.co.uk/business/2017/04/05/car-sales-surge-drivers-race-beat-new-tax-regime/ New VED is hardly relevant, after 1 year its reverted to a flat rate. Still, got to get that 17 plate right?
  10. For the *majority* of students there already isn't one except where the profession requires.. Its only a matter of time of time before SLC realise they're never even going to see half of the 45K debt PER PERSON especially with issues like outsourcing, automation, no job security and real wages declining. Its not not even been 5 years and Osbourne already froze the level at which repayment kicks in & the maintenance grants have been replaced with another loan. Doesn't take a Bachelors to figure out how it will end.
  11. Very common in my experience; I tend to worm tax into the conversation by sounding like I'm interested in being a landlord & half the time they'll say they don't pay and some don't even know they should be paying..
  12. People have no choice but to vote for them.. They can take the p1ss because they know there's no competition.. Am I the only one who got annoyed about handing out free school transport to kids who are on free school meals.. Rewarding the feckless for having kids once again.
  13. This is what I've been doing; I've found company pensions terrible for fund choices and even the decent passive funds they rebrand with their pension name at the front and stick an extra 1-2% on top of the original fund charge **PER ANNUM**! It will eventually get to a point where the contributions from the company aren't worth the extra charges. Workplace pensions are only good for the free contributions up to a certain level. Any job change gets slid into the good old HL SIPP with access to funds with sub .5% charges. It's bloody theft. Lucky you, most companies max out at 5% matching. Best I've had is 10% for 5 that was great for the year I was there. Swiftly transferred into my SIPP afterwards, just in time for brexit, thank you very much.
  14. Better hope your all saving in SIPP's, ISA's & Workplace pensions. Mind you, PPs are due to be capped to 10 years below the state pension age? Retire or die. E.g: Average life expectancy in Manchester - 70.2 https://www.ft.com/content/050fe9aa-fcf4-11e6-8d8e-a5e3738f9ae4
  15. This.. However. I believe 2013 was the year that new car sales peaked in the U.K. 3/4 are bought on finance. This year or next should have been/is the year there would be a flood of used cars on the second hand market but all I've seen is cars AND (key part) motorbikes sat on forecourts, eBay listings, auto trader at inflated prices.. Now from what I'm seeing finance is offered on used cars/bikes as well now so the lower income less credit worthy sucker (customer) can indulge too. You can't even low ball with cash offers now as they make more money on the finance! Also on a side note a colleague had a snapped chain on his BMW, pair of foreign folk came and bought it, said they were exporting it.. Obviously just 1 case but still.
  16. Agreed but looking at Winkies last sentence combined with durhamborns post.. They are right; Let it be. Their understanding of how to play the capitalist game is flawed and they're happy with that and there is nothing deniable about their logic. Earn money to buy nice things. Cant argue wth that. Besides I've noticed it doesn't matter what you say to anyone they don't change their minds so accept it and actively encourage them..
  17. Simple case of going broke trying to look rich.. On the subject of cars: People think it's a god given right to drive and will do so by any means and consider a car a status symbol.... Can you imagine that? 86% new cars bought on finance? Be the smarter person, it's hilarious when people think they're better than others when in actual fact everything they do is detrimental to what they strive so hard to achieve.
  18. Ah yes, all areas which take about 45 minutes to get to the centre and that's with light traffic. Also areas that arent a place you'd particularly like to live bar maybe Cheadle Hulme. Im sure as with most post 2005 new builds they all come with the obligatory council housing next door. Seems to be missing the part about how they'll be dealing with Manchester traffic too.. M60, Mancunian Way, City Centre, Sardine can Metro? Still at least they're building.. 200K 3 bed semi anyone?
  19. +1 This is also why the current inflation 'issue' is a non starter.. Put prices up and I'll save harder.. Eventually it will just lead to those putting up the prices getting less as the belts get tighter.. Same reason spoons, primark and Aldi are so packed. Charge more you get less.
  20. I've asked someone who's boomer parent is a retired btler how he expects to buy a house.. he said inheritance.. his dads 50..
  21. Apparently help to buy website states it is £50+vat max charge. I'm seeing conveyancers charging £100+vat for this.. Legal?
  22. Erm.. Online agents are what is needed. What do estate agents do? Stick your property on Rightmove and.. The vendor does the viewings nowadays, its quite easy to pass over solicitor details, buyer arranges survey etc done. Why would anyone warrant 5K fees to the estate agent that you can get for 200 quid online that will list your property on all the usual sites. Know a few who are doing this now and sold quite happily. The sooner you cut out the middle man the better imo. (Understandably from a buyers perspective an online *agent* may be a bit iffy but i'm referring to the seller just going through one in order to list on the usual sites and then doing the rest of the leg work themselves.)
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