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Garry AKA Pod

Young Adults

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I'm 26. I left University 4 years ago with about £13000 of debt from my student loan.

Most of my friends left with similar debts but choose to go travelling and bank rolled this on credit. 1 friend must now have a debt of around £20,000. I don't think it worries him too much, but he has more of a live for the day attitude than I do. He's also spending a third of his take home pay on rent. Doesn't save or have a pension.

I moved back into my parents home 9 months ago as I didn't see the point in paying the stupid high rent I was paying. I've saved a fortune and whilst my social life has taken a hit, I feel I'mn doing the right thing in the long run.

I guess what I'm trying to get at is how do people like my friend ever expect to get on the property ladder (or plan for their future)if they feel they have to live by the "young adult rules" of, you must go to Uni, you must go travelling, you must spend, spend, spend or you will miss out?

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I suppose the only risk you are taking is waking up one day when you are 35 or 40 married with kids and thinking........ "Damn, I wish I had enjoyed myself a bit more in my twenties...."

Buying a house isn't the most important thing in the world, enjoy yourself you are 26!

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I'm 26. I left University 4 years ago with about £13000 of debt from my student loan.

Most of my friends left with similar debts but choose to go travelling and bank rolled this on credit. 1 friend must now have a debt of around £20,000. I don't think it worries him too much, but he has more of a live for the day attitude than I do. He's also spending a third of his take home pay on rent. Doesn't save or have a pension.

I moved back into my parents home 9 months ago as I didn't see the point in paying the stupid high rent I was paying. I've saved a fortune and whilst my social life has taken a hit, I feel I'mn doing the right thing in the long run.

I guess what I'm trying to get at is how do people like my friend ever expect to get on the property ladder (or plan for their future)if they feel they have to live by the "young adult rules" of, you must go to Uni, you must go travelling, you must spend, spend, spend or you will miss out?

good for you. It takes a little strength to buck these trends and be a little different. In that sense, you're probably far more "rock & roll" than your peers who are slavishly following fashion.

I'm 31 now and totally debt free. On a fairly modest income (compared to some on here!) I actually manage to live pretty well and travel quite a bit. Compare this to some of my peers who, mortgaged to the hilt & with various residual loans from their past, are going to spend the next 30+ years working like dogs just to pay for the fun they've already had... and didn't appreciate that much at the time- taking it for granted.

Any treats I have now are bought and paid for and I know I have worked for them. I appreciate and enjoy them a lot more in that knowledge.

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I still manage to travel, socialise etc, and the aim of my post wasn't to suggest i didn't. I just wonder what the hell my peers are going to do when they are 35 or 40, married with kids but with unable to afford to take the kids away, or help them go to Uni etc.

It's all well and good being young free and careless but if they are racking up huge debts, then they aren't going to be paying into pensions, so this directly affects others.

I'm seriously considering stopping paying into my penision, which I might add is a damn good one. Final salary, local government (don't moan anyone!), but it will only be good if the chain continues, i.e. people younger than me pay into it also. It's not just funded by council tax, which many make the mistake of believing, so it does need people to continue paying into.

Why should I bother to save and make plans for retirement, when others can't be arsed, spend money they don't have and will rely on people like me to bail them out?

I honestly believe pensions should be compulsory.

Edited by Jimothy

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Why should I bother to save and make plans for retirement, when others can't be arsed, spend money they don't have and will rely on people like me to bail them out?

I can't really understand why people work quite so hard for pensions, and make them such a major facet of their life and waste so much of their young life on getting money for that.

The way I view my own life is that going by family history I won't be so cripled by age that I'm unable to work till about 10 years before I die, probably my mid- late 80s. The time after that I could support myself with money I made no special effort to save, I'll still be able to live on my own. I'm only going to have financial problems if I live to older than 105 or so which is 3 years older than anyone in my family has ever lived.

Edited by Della

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I can't really understand why people work quite so hard for pensions, and make them such a major facet of their life and waste so much of their young life on getting money for that.

We've been programmed into thinking we have to from an early age.

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We've been programmed into thinking we have to from an early age.

indeed.

I don't have time for spending copious amounts of money on gadgets which are the height of fashion now but will be obselete in 6 months time,that's just silly.

think functional.

My new Lcd tv is only 26" but it consumes less power than my old CRT one,with no detriment to my viewing pleasure.....sod buying something I could barely get through the door.

Energy-friendly bulbs all round.

self-built computer with cheapy 2gig processor works just fine(cost me £120 in total,that's with 2 dvd-rw's and tft monitor) ...also got a decent printer for a tenner.

half of the stuff they are trying to flog you you don't need!!!!!!

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Guest grumpy-old-man

I'm 26. I left University 4 years ago with about £13000 of debt from my student loan.

Most of my friends left with similar debts but choose to go travelling and bank rolled this on credit. 1 friend must now have a debt of around £20,000. I don't think it worries him too much, but he has more of a live for the day attitude than I do. He's also spending a third of his take home pay on rent. Doesn't save or have a pension.

I moved back into my parents home 9 months ago as I didn't see the point in paying the stupid high rent I was paying. I've saved a fortune and whilst my social life has taken a hit, I feel I'mn doing the right thing in the long run.

I guess what I'm trying to get at is how do people like my friend ever expect to get on the property ladder (or plan for their future)if they feel they have to live by the "young adult rules" of, you must go to Uni, you must go travelling, you must spend, spend, spend or you will miss out?

Jimothy, you are very mature & well informed for 26, well done to you :)

my wife reckons I only mature'd 3 years ago.....I'm 39 :o:rolleyes:

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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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