Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

ken_ichikawa

It All Of This Credit?

Recommended Posts

Is it just me being a scrooge, or is it credit or are they on the take? or am I merely jealous?

In that looking around various circles of acquaintances they all seem to have very nice stuff which I know costs an absolute arm and leg....

Yet none of them appear to have incredibly high paying jobs...

Mark bought himself a Honda FireBlade a £10000 motorbike which is top insurance group,

he's 19 so insurance is at least £6000. What does he do? He is an apprentice on min wage.. :blink:

Ok then you get Mike D, an enemy in skydiving I utterly hate this guy but every few weeks he turns up with some shockingly expensive new gear. £6000 rigs which get changed every couple of months. He also happens t odrive a porche boxer or something. He's a 2nd Lieutenant on £20K according to the army website.

Then Luke, who is disabled from a motorbike crash who drives a new Focus RS.... he has no official income.... :huh: (doesn't own a house can't have MEWed)

Then a guy called Wave, he's a postie yet he owns a garage filled with expensive motorbikes. I'm pretty sure posties aren't paid hundreds of thousands yet he happens to have a garage with about £90,000 of motorbikes in it, none of them older than 2-3 years. Along with multiple cars.

So seriously where do these people get their money from? Although I live a transient life style and save heavily I'm pretty sure I couldn't buy the things those people have?

Share this post


Link to post
Share on other sites

In a word yes. To clarify we (mr & mrs miyagi) have an income of 50k+, it's not enough.

Share this post


Link to post
Share on other sites

Yea all on credit then we get debt forgiveness or some stupid IVR and they get off scott free after having enjoyed the goods for several years but don't worry SMI will pay their mortgage too.

We're doing something wrong here KI.

Share this post


Link to post
Share on other sites

Yea all on credit then we get debt forgiveness or some stupid IVR and they get off scott free after having enjoyed the goods for several years but don't worry SMI will pay their mortgage too.

We're doing something wrong here KI.

+1

Given my time over again I'd play the game completely opposite.

Wasting time in education to get a career was a mistake too, simply sitting on a till in Tesco and buying a house five years earlier would have been a much better move. Throw in a couple of BTL's from around 15 years ago and I'd be on easy street, my investment 100% backed by taxpayer scum.

Share this post


Link to post
Share on other sites

+1

Given my time over again I'd play the game completely opposite.

Wasting time in education to get a career was a mistake too, simply sitting on a till in Tesco and buying a house five years earlier would have been a much better move. Throw in a couple of BTL's from around 15 years ago and I'd be on easy street, my investment 100% backed by taxpayer scum.

+1

I'm 42. My mistake was an extended education and short term academic jobs that didn't qualify me for a mortgage until it was too late and BTL and, later, liar loans had driven the house market into orbit. There was a brief window in 1997 when I could have got a mortgage as I had a temporary "permanent" job. I didn't take it as I wasn't planning on staying in the area. A grave mistake. As another poster said, I would have been better off working at Tescoes and getting a mortgage in 1995 or so. In fact, the subset of my cousins who did the equivalent of this (in Australia) and then started BTLing are stupidly well off - all of them are millionaires.Those of us who delayed getting on the "ladder" by getting an education and moving around for early career jobs have all been shafted - no exceptions. The difference is that stark.

Share this post


Link to post
Share on other sites

There're an American book called the "Millionaire Next Door" which states that the flash people with the 4x4 or sports car and Rolex genereally don't have a pot to pee in and are up to their necks in debt.

On the other hand the quiet bloke with the Toyota and Seiko could well have assets of $1m - house paid off, good level of savings in the bank.

I'm sure that will hit a chord with many on here...

I cycle to work on a 10 year old bike and live in a pretty modest area close to work. No car repayments to worry about and I don't care how much a litre of unleaded costs. Unlike the bloke who's just leased a BMW... Rather have low blood pressure and foreign travel than be a flash git.

Share this post


Link to post
Share on other sites

Everything is not always as it seems......just because someone drives a flash car does not mean it belongs to the driver...it does not mean the the driver paid for it.

...just because there is £10 in your pocket the day before payday does not mean it has to be spent.

...just because someone has something, does not mean we all want they have got. ;)

Share this post


Link to post
Share on other sites

Everything is not always as it seems......just because someone drives a flash car does not mean it belongs to the driver...it does not mean the the driver paid for it.

...just because there is £10 in your pocket the day before payday does not mean it has to be spent.

...just because someone has something, does not mean we all want they have got. ;)

+1

I don't want a BMW, I don't want a motorbike, I don't want a new TV or SKY, I don't even want to buy a house.

I've got a nice car thank you. I live in a great flat and I have a TV that I like just fine and have had for years.

But many people are kidded into believing these are lifes aspirations or you are a loser. All because you must 'show your wealth' to warrant respect and stature (apparently).

But it's all false. Anyone can get these things if they really want to. Slap it on a credit card, get a lease car, whatever.

Share this post


Link to post
Share on other sites

It's debt. A lot of people do this! :huh:

Share this post


Link to post
Share on other sites

It might not be all dept, could be inheritance money, they might just be good at spotting bargains or they could have a hobby outside of work which they use to supplement their income.

Some people I know who earn less than me are driving cars that cost 10 or 15 times more but its usually rich parents or the like

Share this post


Link to post
Share on other sites

The person in my department with the biggest telly and, for a while, the newest car is funding it all out of debt. Live now pay later.

Share this post


Link to post
Share on other sites

The person in my department with the biggest telly and, for a while, the newest car is funding it all out of debt. Live now pay later.

....then in the next breath they are complaining they are priced out of the property market..... ;)

Share this post


Link to post
Share on other sites

+1

I don't want a BMW, I don't want a motorbike, I don't want a new TV or SKY, I don't even want to buy a house.

I've got a nice car thank you. I live in a great flat and I have a TV that I like just fine and have had for years.

But many people are kidded into believing these are lifes aspirations or you are a loser. All because you must 'show your wealth' to warrant respect and stature (apparently).

But it's all false. Anyone can get these things if they really want to. Slap it on a credit card, get a lease car, whatever.

...Over 25 years ago when I was saving for a deposit, I went without a holiday for two years, drove around in an old banger, went without to make a down payment on a poky flat most would not look twice at....my peers were living it up spending money going out, going on exotic foreign holidays and buying new cars whilst still living at home getting their meals cooked and washing done for them...... ;)

Share this post


Link to post
Share on other sites

...Over 25 years ago when I was saving for a deposit, I went without a holiday for two years, drove around in an old banger, went without to make a down payment on a poky flat most would not look twice at....my peers were living it up spending money going out, going on exotic foreign holidays and buying new cars whilst still living at home getting their meals cooked and washing done for them...... ;)

That's an interesting point, and I do remember 25 years ago, and I saw the same. Nothing changes, except the width of ties! :huh:

Share this post


Link to post
Share on other sites

Ken - regarding the postie...

Ever wondered why you never receive that cash in the mail that granny sent you?

Also, the £ that many Royal Mail workers earn is actually quite good. Helps that the place is heavily unionised. However, Royal Mail cannot carry on like its still 1979 and will need to modernise before long.

I also wonder what might have been if I hadn't stayed on in full time education. :unsure: I was heavily into cars so most of my cash would have probably been ploughed into souping up a secondhand Vauxhall Astra 1.4 :ph34r: rather than saving up for a deposit on a modest house. In 1996 my sister split up from her then fiancé and used the money saved up from that wedding towards a deposit to buy a 3 bedroomed house for £39k. Thought I would get my chance to buy a similar type of house for less than £50k some years later but missed the boat.

There're an American book called the "Millionaire Next Door" which states that the flash people with the 4x4 or sports car and Rolex genereally don't have a pot to pee in and are up to their necks in debt.

On the other hand the quiet bloke with the Toyota and Seiko could well have assets of $1m - house paid off, good level of savings in the bank.

I'm sure that will hit a chord with many on here...

+ 1. Same point also addressed in Robert Kiyosaki's 'Rich Dad Poor Dad' . I am considerably less envious of other peoples' material goods and lifestyles these days as for all I know, it has probably been paid for on the knock. I have no debt and thus no worries in that respect. :)

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 336 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.