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Are People On This Site More Careful With £££?

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I have a question- does visiting this site make the posters more astute with their money, more unwilling to get into large amounts of debt and more aware of the broader picture?

The reason I ask this is that most of my friends who are currently buying property are taking on MASSIVE amounts of debt and it horrifies me to be honest but yet it doesnt seem to worry them in the slightest.

I have never been that comfortable with debt but visiting this site has made me realise even more that I dont want to land myself with an enormous mortgage that could potentially ruin my life.

Is this a common trait?!

Why arent other people so concerned by the levels of debt they are taking on? (most of them are highly intelligent people!)

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I have been a lurker on this site for a few months and it has truly changed my life. I have had high paying jobs and cant believe the amount of money I have frittered away - either on expensive things (holidays, lifestyle etc) or on an oversize mortgage.

This site has converted me from a spender to an investor.

The change has been as dramatic as when I gave up smoking a decade ago.

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It's made me the opposite. I have a lot of disposable income each month, but I have no incentive to save as I just will not pay the ridiculous prices at the moment.

When I am ready to buy, I will be able to save a reasonable deposit in 12 months, and until that point, I will continue to furnish my rented house with luxury items :)

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It's made me the opposite. I have a lot of disposable income each month, but I have no incentive to save as I just will not pay the ridiculous prices at the moment.

When I am ready to buy, I will be able to save a reasonable deposit in 12 months, and until that point, I will continue to furnish my rented house with luxury items :)

Paradox, like you, I have significantly changed my spending habits. The frittering has stopped and the saving being maximised.

I genuinely think that there is major economic trouble ahead and regret that that todays `home sweet home`, will for many be a 4 walled prison within a couple of years.

I mean to be the `Angel of Doom` but I can`t see things going any other way.

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I have a question- does visiting this site make the posters more astute with their money, more unwilling to get into large amounts of debt and more aware of the broader picture?

Good question.

Does it make me more astute with my money? Yes, I suppose so. Coming here is a mental reward for saving hard as it makes you think of the bigger picture.

It also makes me worry about my savings more as well. Whether I should invest more into shares or other markets...I suppose worrying or examing your own finances seriously is the path to being economically astute anyway.

What is fascinating for me is hearing how 'careful' some of the most wealthy posters are here.

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What is fascinating for me is hearing how 'careful' some of the most wealthy posters are here.

I doubt there are too many wealthy people who are careless with money... though there are probably plenty who live a 'wealthy' lifestyle on borrowed money.

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I have a question- does visiting this site make the posters more astute with their money, more unwilling to get into large amounts of debt and more aware of the broader picture?

The reverse; I was already very careful with my money and that indirectly led me to end up posting on this site. I so hated being in debt when I got my mortgage for my flat that I saved every penny I could and repaid the whole lot in 6 years (I even disputed Northern Rock's fees for closing the mortgage account and got them halved). It was a good feeling to have a home that no-one could take away from me.

Since then I have sold the flat, rented for 6 months (cheap deal direct with private landlord through LOOT), and finally bought a house with a new mortgage.

I am now saving like crazy and have already repaid one £20K chunk of debt.

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What is fascinating for me is hearing how 'careful' some of the most wealthy posters are here.

The rich are allways a bunch a tight gets

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Ditto (as per RockDoctor), I have always been careful and that's what drew me here.

Am I careful with money? Yes.

Am I careful with money because I came here? No.

Edited by Nijo

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I agree about the 'careful' nature of wealthy people on here.

I was not at all careful when I until fairly recently. I suppose in one way I was wealthy and exhibited that by the way that I flew all over the world etc. It was not borrowed money I was spending but it was just me blowing my hard earned cash in an extravagant manner.

This was an attitude that did not value the 'wealth' that I had.

It came to an end when I overstretched on a mortgage.

Now, having STR, I have moved 180 degrees and I haggle for every last penny. In many ways wealth is a relative thing, as much a state of mind as anything else. When I was reckless with my cash I always wished I was 'rich' even though in many ways I was (when compared to many on lower salaries).

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I was a hardcore frugalista for 3 years before I came to this site-no foreign hols, no car, an end to binge drinking drugs and smoking, no mobile, cooking my own food, eating out once a fortnight max, no new clothes or shoes, £4 haircut (excellent barber), tunnel vision saving etc.

When I came here I met similar minded people which convinced me I was not weird after all, contrary to what others believe, including friends' children.

Having achieved various goals (too boring to mention) it's time for a change in priorities. Got a mobile now and am planning to get a car. Although I'm considering leasing over buying. Reasearch ongoing. No doubt frugalista tendencies will persist.

Respect to frugalista for inventing the term. Still tickles me now.

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Ditto (as per RockDoctor), I have always been careful and that's what drew me here.

Am I careful with money? Yes.

Am I careful with money because I came here? No.

Same here,

Strength in numbers! before I found HPC i couldn't believe the debt levels I would need to get on the housing ladder.

Coming here makes me realise I'm not the only one. Its definitely helped me see through the VI bullsh*t they've been peddling us.

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Yes it's a really nice feeling knowing there are a few more people out there who are unwilling to to be seduced by the dark side-if you know what I mean.

....once you become aware that the media/government/salesmen/employers are trying to erode whatever wealth-base you might be able to achieve,it is quite enlightening.

we are a special breed here.....and I for one am proud to be a total pain-in-the -ass and not play the ball game the powers that be want me to.I don't want to be a slave....simple as that.

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I have a question- does visiting this site make the posters more astute with their money, more unwilling to get into large amounts of debt and more aware of the broader picture?

Possibly ;)

Personally, a few years ago I was in a stage where I had the feeling that I would like to settle down and buy, but thought house prices were too high. So I started clearing some small debts (a couple of k), followed by hard saving, in preparation for when it was time.

A few years later (about a year ago) I found HPC, my thoughts on the market are still the same. But the benefits of HPC was to meet like minded people and all the eyes looking out for news and information.

Has it caused me to save more?... no.. I was on that game plan already... but I think HPC probably opened a few eyes to what I thought 4 years ago B)

Edited by beerhunter

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Some freinds jokingly say that i'm tight, but i prefer the word carefull. (But i always buy my round !!)

I have always been a saver, but not seriously and with no real end goal, and have never liked the idea of loans and paying interest.

But since reading this site it has given me a purpose and a goal.

I'm sure that in 20 years time i will be much better off for it, maybe mortgage free, having saved thousands on interest payments.

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I was tight with money before because I dont want to be crippled by debt, but its good to see so much conclusive evidence on here that points to me making the right decision.

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The rich are allways a bunch a tight gets

yes...that is why they are rich. A previous post was illuminating...there are people (like me) who live comparatively frugal lifestyles, but are actually sitting on growing amounts of wealth and are in debt to no-one. Then there are those who have wealthy lifstyles, but are actually just piling further and further into debt.

Of course there are also the super-rich who live Monaco lifestyles AND just get richer and richer.

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I have a question- does visiting this site make the posters more astute with their money, more unwilling to get into large amounts of debt and more aware of the broader picture?

The reason I ask this is that most of my friends who are currently buying property are taking on MASSIVE amounts of debt and it horrifies me to be honest but yet it doesnt seem to worry them in the slightest.

I have never been that comfortable with debt but visiting this site has made me realise even more that I dont want to land myself with an enormous mortgage that could potentially ruin my life.

Is this a common trait?!

Why arent other people so concerned by the levels of debt they are taking on? (most of them are highly intelligent people!)

Most people fuelling this credit crazy economy probably haven't lived through the miners strike, 70's power cuts or don't realise the meaning of UB40's one in ten song. They have no true understanding of the value of money as it's all paid by Visa or Mastercard. They never see what is spent. If you had to pay for everything with cash the world would be a much more balanced place.

Personally, i was taught to spend what you have and make the most of it.

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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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