thewig Posted March 6, 2019 Share Posted March 6, 2019 (edited) 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 March 6, 2019 by thewig Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted March 6, 2019 Author Share Posted March 6, 2019 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! Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 6, 2019 Share Posted March 6, 2019 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 Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
happyguy Posted March 6, 2019 Share Posted March 6, 2019 It depends what the husband earns - he may earn bucket loads. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 6, 2019 Share Posted March 6, 2019 (edited) Big salaries come and go, although this only looks like a joint income of £66K. I would have thought that job security is the most important thing when considering any mortgage. Edited March 6, 2019 by Bruce Banner Quote Link to comment Share on other sites More sharing options...
happyguy Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
thewig Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 6, 2019 Share Posted March 6, 2019 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! Quote Link to comment Share on other sites More sharing options...
winkie Posted March 6, 2019 Share Posted March 6, 2019 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? Quote Link to comment Share on other sites More sharing options...
Andy T Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
Clarky Cat Posted March 6, 2019 Share Posted March 6, 2019 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) Quote Link to comment Share on other sites More sharing options...
elephant Posted March 6, 2019 Share Posted March 6, 2019 £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. Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted March 6, 2019 Share Posted March 6, 2019 (edited) 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 March 6, 2019 by hotblack42 correction Quote Link to comment Share on other sites More sharing options...
juvenal Posted March 6, 2019 Share Posted March 6, 2019 2 hours ago, Si1 said: https://www.buzzfeed.com/floperry/of-the-most-middle-class-things-overheard-at-waitrose Thanks. There's some real crackers here! Quote Link to comment Share on other sites More sharing options...
Freki Posted March 6, 2019 Share Posted March 6, 2019 (edited) 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 March 6, 2019 by Freki Quote Link to comment Share on other sites More sharing options...
Errol Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
user not found Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
Freki Posted March 6, 2019 Share Posted March 6, 2019 36 minutes ago, Sausage said: But they're IO!! So also need to factor in cost of repaying the capital. No that was black belt debt junkie, white belt is talking about mortgage and IO is not around those days Quote Link to comment Share on other sites More sharing options...
longgone Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
Freki Posted March 6, 2019 Share Posted March 6, 2019 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 Quote Link to comment Share on other sites More sharing options...
longgone Posted March 6, 2019 Share Posted March 6, 2019 1 minute ago, Freki said: 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 i looked at that is it saying 90% of the population earn 42k ? Quote Link to comment Share on other sites More sharing options...
user not found Posted March 6, 2019 Share Posted March 6, 2019 7 minutes ago, longgone said: i looked at that is it saying 90% of the population earn 42k ? Think it means if you earn £42k 90% of people earn less than you. Quote Link to comment Share on other sites More sharing options...
winkie Posted March 6, 2019 Share Posted March 6, 2019 (edited) 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 March 6, 2019 by winkie Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 6, 2019 Share Posted March 6, 2019 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. Quote Link to comment Share on other sites More sharing options...
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