Jump to content
House Price Crash Forum
debtfree

'cut Out Curries'

Recommended Posts

The following is an extract from todays 'The Metro' - London issue.

FIRST-TIME house buyers ned to cut out takeaways, nights out and other luxuries if they are to meet their savings targets for a deposit, a bank has warned. The average person currently saves £270 a month. But they would need to put aside £500 a month to save the deposit of £11,710 they typically hope to achieve over two years, the Alliance & Leicester said. 'This is a clear mismatch', an A&L spokesman said.

:lol::lol::lol:

what utter and complete tosh.

You'd have to give up cooking anyway, as you can't buy a place that comes with a dining room !!

The kitchen would be in the lounge along with the boiler and half your belongings.

Share this post


Link to post
Share on other sites

What would a deposit of £11K get you? :rolleyes:

Must give up eating, must not go out, must save, must save, must save.

All this time I thought house prices were over-valued. But really, we're just not saving enough.

I don't know where they get that figure of £270 a month from. A lot of poeple I know can't save anything at all.

Share this post


Link to post
Share on other sites

I wonder if we'll see a protest from the London Curry Association Board complaining that the A&L have caused a drop in profits for 60% of Indian outlets. :blink:

Headline would read 'Curry in Chaos'

:lol:

Share this post


Link to post
Share on other sites

I wonder if we'll see a protest from the London Curry Association Board complaining that the A&L have caused a drop in profits for 60% of Indian outlets. :blink:

Headline would read 'Curry in Chaos'

:lol:

They'll obviously retaliate with an article in their trade mag explaining how much more curries people could eat if they didn't have to pay stupid prices for houses!

Edited by Neil D Possitt

Share this post


Link to post
Share on other sites

Average salary = 28k Average house = 200k. Take the income multiple of even 4.5 (high by historic standards but maybe with interest rates low, this could be realistic).

This means you would need a deposit of 74k to purchase the house. This means you would have to save 1000 per month for 6 years. :lol::lol::lol:

What a joke. Why not spend that 1000 per month on something more exciting, like going on a cruise every 3 months, or spend 30 pounds every single day just treating yourself.

In 6 years time, will you still need the 74k deposit for that house????

Share this post


Link to post
Share on other sites

the average person saves £270 a month.

where the hell did that come from. as the average person has credit card debt of several thousand pounds, its a mystry.

i really do think they make these figures up.

Share this post


Link to post
Share on other sites

I don't even like curry that much!

Where am I going wrong? Please, will some reliable and trustworthy organisation commission a study to help me onto the property ladder? (sound of first rung creaking and splintering as I gingerly try and place my foot on it)

Share this post


Link to post
Share on other sites

the average person saves £270 a month.

where the hell did that come from. as the average person has credit card debt of several thousand pounds, its a mystry.

i really do think they make these figures up.

Joke isn't it.

Mind you I'm saving (or trying to save) 4 digit sums per month (and no pence involved :D)

Edited by OzzMosiz

Share this post


Link to post
Share on other sites
where the hell did that come from. as the average person has credit card debt of several thousand pounds, its a mystry.

Some of us save four-figure sums every month, which compensates for those who save nothing.

Share this post


Link to post
Share on other sites

This angers me.

It gives the impression that young folk can't buy houses because they're reckless with money - not like the frugal, respectable older types. If only they'd spend less money on curries (and cut their hair, and stop listening to that awful modern 'beat' music...)

Fact it, it's much harder now. The younger generation (20-35) may well be MORE responsible than their elders.

Young people have never had it so bad!

Share this post


Link to post
Share on other sites

This angers me.

It gives the impression that young folk can't buy houses because they're reckless with money - not like the frugal, respectable older types. If only they'd spend less money on curries (and cut their hair, and stop listening to that awful modern 'beat' music...)

Fact it, it's much harder now. The younger generation (20-35) may well be MORE responsible than their elders.

Young people have never had it so bad!

no, it's because we're cowards and wedded to outdated notions that debt must be repaid.

Share this post


Link to post
Share on other sites

Average salary = 28k Average house = 200k. Take the income multiple of even 4.5 (high by historic standards but maybe with interest rates low, this could be realistic).

True but a couple earning £56k could afford an average house. Must be couples who are preventing the crash :huh:

Share this post


Link to post
Share on other sites

the average person saves £270 a month.

where the hell did that come from. as the average person has credit card debt of several thousand pounds, its a mystry.

i really do think they make these figures up.

I see, "they" make the numbers up but you have solid evidence to the contrary :P

Anyway, have a look e.g. at http://www.nsandi.com/pdf/savings_survey_winter06.pdf

Share this post


Link to post
Share on other sites
a couple earning £56k could afford an average house.

Until one loses their job or they split up or they decide they want kids or...

Share this post


Link to post
Share on other sites

I read this article this morning and i thought it was very patronising.

If you're saving for a deposit, fair enough you're gonna cut back on luxuries, but IMO the

article implied that FTBs sit around munching on curries when they should be saving.

Incredible arrogance!

Amazes me how one dimensional their thinking is...

'FTBs well below historical levels = cut takeaways out'. Nothing to do with bloated house prices and rampant credit.

It's been said many time before on here, but what do you expect from a free rag?

Share this post


Link to post
Share on other sites

I see, "they" make the numbers up but you have solid evidence to the contrary :P

Anyway, have a look e.g. at http://www.nsandi.com/pdf/savings_survey_winter06.pdf

This survey was one of my favourite ever posts. Thank you :)

Basically the average saving per person is less than 200 pcm, even in London. So at that rate it is going to take the average person (let alone FTB) about 30 years to save the deposit on the average house.

Even a couple working full time with no children (therefore no childcare costs) would need a deposit of 32000(you can usually still only get 3x earnings on joint income). At 200 per month that would take them a mere 13 years. Or 6 years if they both save 200pcm.

And that assumes that every penny of their savings is sunk into their eventual house. No holidays, no car, no rainy day money, no boiler/car breakdowns and certainly no curries!

Share this post


Link to post
Share on other sites

Some of us save four-figure sums every month, which compensates for those who save nothing.

Can't be many of you. What's your rough take-home income and total expenses (and how much for rent if it's rent)?

Share this post


Link to post
Share on other sites

The following is an extract from todays 'The Metro' - London issue.

FIRST-TIME house buyers ned to cut out takeaways, nights out and other luxuries if they are to meet their savings targets for a deposit, a bank has warned. The average person currently saves £270 a month. But they would need to put aside £500 a month to save the deposit of £11,710 they typically hope to achieve over two years, the Alliance & Leicester said. 'This is a clear mismatch', an A&L spokesman said.

:lol::lol::lol:

what utter and complete tosh.

You'd have to give up cooking anyway, as you can't buy a place that comes with a dining room !!

The kitchen would be in the lounge along with the boiler and half your belongings.

Well I always knew I was doing something wrong! Those 2/3 takeaway curries I have each year are the main reason I cannot afford a flat - god what a wally I am!

- sh*t looking back, I got fish and chips the other week - this frivolous waste of money has to stop.

No wonder I can't afford anything - the fact that property prices have more than doubled over the past few years is irrelevant really isnt :angry:

Share this post


Link to post
Share on other sites

90% population are a bunch of muppets.

Life is for living not for making other people rich, buying a house for the first time now is utter stupidity (unless you have received a major windfall / inheritance), in fact this also applies if you are looking to upgrade but are already financially tight. Working just to put a roof over ones head utter madness, we are only here once enjoy it, you cannot take it with you when you go. I was under the impression long gone were the days where you had to work to live?

Coming out with a stupid comment "cut back on going out etc" just to buy a poxy h is all well & good, but what effect will this have on other parts of the economy?? These so called professionals have not got the sense that they were born with.

Rant over

Share this post


Link to post
Share on other sites

Can't be many of you. What's your rough take-home income and total expenses (and how much for rent if it's rent)?

I'm one! And don't be so nosey you cheeky so and so! B)

Coming out with a stupid comment "cut back on going out etc" just to buy a poxy h is all well & good, but what effect will this have on other parts of the economy?? These so called professionals have not got the sense that they were born with.

Rant over

Thats a good angle to counter this bullsh**!!

Share this post


Link to post
Share on other sites

Well I always knew I was doing something wrong! Those 2/3 takeaway curries I have each year are the main reason I cannot afford a flat - god what a wally I am!

- sh*t looking back, I got fish and chips the other week - this frivolous waste of money has to stop.

No wonder I can't afford anything - the fact that property prices have more than doubled over the past few years is irrelevant really isnt :angry:

This is these eff*** banks at it again , now blaming everyone else instead of themselves !! They better run for cover as people will be after them when it all goes to hell !!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • 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.