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HOLA441
2 hours ago, nome said:

More commonly known as a ''stealth boast''

Last place I used to “work” someone did a lot of that. Horsey type pseudo-milf material which made it somewhat easier to stomach but it was all about “do you know how much we were quoted for a holiday to St Lucia?... twenty grand a head! Who can afford THAT?!”

Edited by thewig
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HOLA442
41 minutes ago, winkie said:

Yes, if £5.5k income every month of the year guaranteed.....36% income as you say is easily affordable.......all depends on other expenses, responsibilities and debt usually car, transport, school fees, children including other children.......people tend to live up to their incomes however much they earn.....very many spend more than they earn, however much they earn.......how rich you are has little to do with how much you earn.;)

exactly

over the years as my salary increased i didnt feel any better off as you end up spending more!

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HOLA443
7 minutes ago, thewig said:

Last place I used to “work” someone did a lot of that. Horsey type pseudo-milf material which made it somewhat easier to stomach but it was all about “do you know how much we were quoted for a holiday to St Lucia?... twenty grand a head! Who can afford THAT?!”

https://www.buzzfeed.com/floperry/of-the-most-middle-class-things-overheard-at-waitrose

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HOLA444
1 hour ago, winkie said:

Yes, if £5.5k income every month of the year guaranteed.....36% income as you say is easily affordable.......all depends on other expenses, responsibilities and debt usually car, transport, school fees, children including other children.......people tend to live up to their incomes however much they earn.....very many spend more than they earn, however much they earn.......how rich you are has little to do with how much you earn.;)

This. 

36% of take home pay at historically low rates is just crazy. They are probably on what? 80-90k a year. 2k mortgage is probably, depending on the deposit, around 450k? 5 times joint earnings is just crazy no matter what way you look at it. 

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HOLA445
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HOLA447

To an extent I agree with you but it is personal choice and if the guy is a top brain surgeon for instance then one assumes his job is secure.  

No one knows their personal circumstances.  

Some people are more risk averse than others that is personal choice.  It would be a dull world if we all thought the same way.  

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HOLA448
29 minutes ago, happyguy said:

To an extent I agree with you but it is personal choice and if the guy is a top brain surgeon for instance then one assumes his job is secure.  

No one knows their personal circumstances.  

Some people are more risk averse than others that is personal choice.  It would be a dull world if we all thought the same way.  

I agree.

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HOLA449
33 minutes ago, happyguy said:

To an extent I agree with you but it is personal choice and if the guy is a top brain surgeon for instance then one assumes his job is secure.  

No one knows their personal circumstances.  

Some people are more risk averse than others that is personal choice.  It would be a dull world if we all thought the same way.  

Absolutely, as long as they don't get bailed out if it all goes wrong.... Moral hazard!

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HOLA4410
Just now, happyguy said:

To an extent I agree with you but it is personal choice and if the guy is a top brain surgeon for instance then one assumes his job is secure.  

No one knows their personal circumstances.  

Some people are more risk averse than others that is personal choice.  It would be a dull world if we all thought the same way.  

Is it a risk worth taking.........many are unable to offload their homes now......buying something that might be hard to shift if and when they need to........live life with a comfortable surplus that can be invested in other worthwhile things or live in a bigger more expensive and more costy to run box......or are they just wanting to impress others?;)

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HOLA4411

Agree that computer says no, especially 4 kids, single earner.  £2000 a month is probably half a million mortgage.

Pretty common for couples with full time average-ish jobs to have a heavy mortgage of £1k a month though.

 

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HOLA4412

I would assume that interest rates will increase at some point

There'll be a lot of people who've taken out a mega mortgage at the lowest rates ever. I suppose they'll then have the choice of taking the hit to their living standards, selling up, or extending the term and paying out well into their 70s and 80s (I'm sure there'll be plenty of banks there to "help" people in this situation)

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HOLA4413

£5k a month income and what sounds like currently only a £1k p/m mortgage payment but they have no savings?!  Do these sound like the kind of financially responsible people who should be let loose on a £2k p/m mortgage?!  They would be so fvcked if interest rates went back to sensible levels.

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HOLA4414
3 hours ago, Sausage said:

A 30yr old female colleague like that! Every day there's a complaint about how much she has to spend on school fees... Nursery... School meals... All are actually boasts of how "rich" she must be.

If she is spending all the income she is not and never will be 'rich'.
Wrt to thread topic, it shows a rather a poverty of ambition if the mumsnet debt junkies think a family income of £66k is something to brag about, well in the SE at least.  Most of our friends in couples had dual incomes of about that over 10 years ago and that was in Gloucestershire.  Its a good single income but hardly big time.

Edited by hotblack42
correction
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HOLA4415
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HOLA4416
44 minutes ago, hotblack42 said:

If she is spending all the income she is not and never will be 'rich'.
Wrt to thread topic, it shows a rather a poverty of ambition if the mumsnet debt junkies think a family income of £66k is something to brag about, well in the SE at least.  Most of our friends in couples had dual incomes of about that over 10 years ago and that was in Gloucestershire.  Its a good single income but hardly big time.

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom/

https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax

 

Edited by Freki
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HOLA4417
2 hours ago, happyguy said:

Some people are more risk averse than others that is personal choice.  

Absolutely. I don't think anyone ever suggested it wasn't their choice.

However, they must be prepared to suffer the full consequences of any choices they make - no bailouts, no whining later on etc.

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HOLA4418
5 hours ago, winkie said:

Yes, if £5.5k income every month of the year guaranteed.....36% income as you say is easily affordable.......all depends on other expenses, responsibilities and debt usually car, transport, school fees, children including other children.......people tend to live up to their incomes however much they earn.....very many spend more than they earn, however much they earn.......how rich you are has little to do with how much you earn.;)

But they're IO!! So also need to factor in cost of repaying the capital.

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HOLA4419
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HOLA4420
2 hours ago, hotblack42 said:

If she is spending all the income she is not and never will be 'rich'.
Wrt to thread topic, it shows a rather a poverty of ambition if the mumsnet debt junkies think a family income of £66k is something to brag about, well in the SE at least.  Most of our friends in couples had dual incomes of about that over 10 years ago and that was in Gloucestershire.  Its a good single income but hardly big time.

30k was average 20 years ago. still not sure how they convinced the masses otherwise. 

75-85k is probably average now for dual full time earners. 

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HOLA4421
8 minutes ago, longgone said:

30k was average 20 years ago. still not sure how they convinced the masses otherwise. 

75-85k is probably average now for dual full time earners. 

https://www.statista.com/statistics/416102/average-annual-gross-pay-percentiles-united-kingdom/

https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax

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HOLA4422
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HOLA4423
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HOLA4424
Just now, Sausage said:

But they're IO!! So also need to factor in cost of repaying the capital.

Praying that inflation will kill the principal original loan plus any extra debt taken on from growth of HPI no doubt.;)

Owe loads but only costs £2.50 a month......therefoe can well afford it.

Edited by winkie
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HOLA4425
15 minutes ago, longgone said:

i looked at that is it saying 90% of the population earn 42k ?

The description is badly written.  The 90th percentile is the value that 90% of a data set is below.  So the comment "the average yearly total income for the bottom 90 percent of earners was approximately 42.5 thousand British pounds" beside the chart is a misinterpretation of their own chart.

7 minutes ago, Sausage said:

Think it means if you earn £42k 90% of people earn less than you.

Sausage is correct.   

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