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Nelly

You Really Wont Believe This

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no way! have u read the whole thing?? somewhere midway the guy goes

"I'll have to find some time to draw up a budget! Don't suppose i'll really know what i'll be paying out until im in the house and paying bills!!"

If people buy houses with as much research needed to buy a T-shirt, then no wonder sellers don't want to drop the asking prices. There's always a fruitcake around...

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He can't be serious surely.

He's basically saying he's got a very optomistic budget that still fails to balance his incomings with his outgoings. He's not even factored food into the equation or home insurance, how can he even think of buying when he doesn't know he can afford it.

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Don't reckon his girlfriend will be hanging round for long if he can't afford to take her out.

He'll be hanging from his loft in a year or two! :(

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The dickhead says he weight trains :D

Down the line, hundreds of those "Final Demand" letters will make excellent weights - stick

um in a wheel barrow and HEAVEE!!!!!

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Ok here's a rough budget...

Incomings: £1300 approx (overtime can add up to £300 per month but this may finish)

Outgoings:

Mortgage £350

Rent (shared ownership): £166

Cahoot Flexible Loan: £130

Morgan Stanley CC: £95 min payment

Barclaycard CC: £30 min payment

Car Loan: £176 (due to finish Apr '06)

Council tax: £62

Gas and Electric: £30

Car insurance: £50

Petrol: £120

Gym: £25

Total: £1234

This doesn't include contents insurance and annuals like MOT etc. Nor any socialising, haircuts, clothing....

Dear god, what else has he omited from that list, I don't see any water bill or telecoms for starters. So he's left with £66 per month (in reality he's in deficit of course), I think my council tax went up way more than that this year alone, same goes for recent increases in gas and electric, the water companies have also agreed something like a 7% per annum increase recently for repairs.

What if interest rates go up? Another reason why it's better to have a £50k mortgage at 11% than £100k at 5.5%, look at the headroom for tightening in the latter case. What if the credit card or loan companies put on the squeeze and ramp their rates up?

I really feel sorry for the chap, I just hope he can get promoted quickly or find additional work.

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Dear god, what else has he omited from that list, I don't see any water bill or telecoms for starters. So he's left with £66 per month (in reality he's in deficit of course), I think my council tax went up way more than that this year alone, same goes for recent increases in gas and electric, the water companies have also agreed something like a 7% per annum increase recently for repairs.

What if interest rates go up? Another reason why it's better to have a £50k mortgage at 11% than £100k at 5.5%, look at the headroom for tightening in the latter case. What if the credit card or loan companies put on the squeeze and ramp their rates up?

I really feel sorry for the chap, I just hope he can get promoted quickly or find additional work.

I think the most important omission has got to be ....FOOD !! :blink:

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Maybe he should rent the place out for two years. The rent will pay off his non-mortgage debt! He can live with his parents. And as a bonus, he gets to eat!

Hopefully the rent would offset the corrosive capital loss.

No fun buying at the top of any market, obviously all the friendly advice and spin has got to this poor chap, I tend to ignore pearls of wisdom from people who could not re-afford their own homes, that's about 90% of the adult population.

I think the most important omission has got to be ....FOOD !! :blink:

You're such a doommonger! :ph34r:

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"I recently took a pay cut at work temporarily as i got promoted and lost overtime/bonuses. However i have a few years of pay increments so things should get easier. "

Sh*t! lets hope he doesnt get promoted again !

Seriously though.. are people this stupid, or is it one of you guys trolling for fun?

Edited by Flick

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Seriously though.. are people this stupid, or is it one of you guys trolling for fun?

I doubt anyone has that much creativity.

This is the first time i've lived on my own so I don't know what bills/household items cost. Either way the budget shows that my outgoings are gonna be higher than incomings so it's a case of try to earn extra money or find a way of restructuring my current debt.

[...]

After speaking to friends about their household bills I know my water/electric/gas won't be anywhere near the figures you mention.

Yeah, he's right on that point!! :o

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This is just hilarious... I can never quite believe the low levels of financial acumen that some people possess :(

But dont worry the solution we keep hearing these days is....

get a lodger. :lol::lol::lol::lol:

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TTRTR need not worry :-

Im really not comfortable with a stranger living in my house, especially if my girlfriend moves in. (sic)

No, I wont say anything! (I'm sure she's a lovely girl).

Edited by BuyingBear

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Council tax of £62 a month . Has he calculated this including the 25% discount for sole occupancy which will go up once his babe has moved to the nest ?

I really feel sorry for this guy as I've known a few like him . Prozac/Valium within 2 years . Book-keeping should be compulsory at schools .

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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