finance

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paul051 said:
Age should not depend on income every industry is different. What might be a huge salary in one industry might be small in another. Thats like saying Ronaldo is in his early 20's and should not get as much Giggs because he is in his 30's(footballers for any one without a clue) Im 24 got my own place, Decent job and have never been helped out by my parents as far as cash. I bought my first car myself and the only thing i got from my parents was a personal plate and tank of fuel towards it, not because they are skint because they believe in hard work.

I am looking at a brand new A5 3.0 tdi at the minute is this allowed being only 24?
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Thats a bit of a stupid comparison though isn't it? Footballers are are used up by, what, their mid 30's. They peak in their mid twenties. They are more prone to injury as they get older so the salary reflects this.

The average working man (or woman) is going to earn more the older they get upto a certain point I suppose. Regardless of how many qualifications you have it will take time to learn how do a profession. A lot of the time people are paid because they know how to handle the what ifs, this comes from experience.

So I'd say generally age has quite a bit to do with what you earn.
 
treblesykes said:
rent boys earning probably reduce as they get older
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Don't know any Rent Boys as I own my own house! Also having worked in Finance Initially and HR last 20 years suggest we are all different, different lives. careers, qualifications etc. Age is a factor IMHO in most 'normal' career paths, but if you haven't 'made it' by 45-50 you are unlikely to ever. But on the car front think of the pension lump sum, inheritance etc etc. QED. Do what you think is right for you following considered evaluation of all the options. Life and happiness and home before cars IMHO>> but I'm a sad old git who hates BMW's and PP's :hubbahubba: am I not!!


TT

R
 
marriedblonde said:
I suppose the other way to look at it is whats the point of having money in the bank, lots of savings and no debt? you could be dead tomorrow...

J.
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You seem to be making a gigantic leap between being in debt and having loads of money in the bank. Most of us are in debt to some extent, but there's a huge difference between owing £20k+ on a car depreciating by the hour and having a mortgage on a property that's at the very least stable and will undoubtedly be worth much more in 3 years time.
I agree with you in part as I know plenty of strange people who have both money in the bank and a big mortgage, in the naive belief they are earning interest on their savings, conveniently forgetting the huge amounts they are wasting on unnecessary interest payments, which to me is just madness.
Also leaving a huge debt for your family to pick up in the unlikely event you do die tommorrow is just plain selfish but does illustrate the "now, now, now" culture we are indoctrinated into these days.
 
Life and happiness and home before cars IMHO>> but I'm a sad old git who hates BMW's and PP's :hubbahubba: am I not!!
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But happiness to me includes owning a nice new car - preferable an Audi.

I may all be an old git who hates BMWs and PPs as well, but I'm not sad!!!
 
"But happiness to me includes owning a nice new car - preferable an Audi."


hear hear!
Have a financial plan but dont sweat yourself too much paying the mortage off super early or amassing huge savings, just as you shouldn't blow all your income on crazy spending.
Enjoy life, spend some of your wages on nice stuff your only here once
 
h5djr said:
But happiness to me includes owning a nice new car - preferable an Audi.

I may all be an old git who hates BMWs and PPs as well, but I'm not sad!!!
Click to expand...

I'm not really sad either Dave, one of our Blog people thinks I must be cos I hate PP's and BMWs

TT & A3

Happy RG:icon_thumright:
 
Keep seeing these posts about investing to get large ROI, and doing well in Stocks and Shares
I personally have been crucified on the stock market, so, could you guys that are making vast amounts of money please PM me to let me know which companies they are??? Please, Please!!!

:respekt:
 
with the greatest respect - whats with all this 'mummy and daddy' ****??? I'm sure if someone is living with their parents they have a good reason for doing so - definately not in the realms of being anybody's business of questioning, calling them wrong or calling them 'sad' Think thats a bit unfair - especially coming from someone who has parents with a 500k house and in-laws with a 600k house - ooooo what a hard life they must lead! It's very easy to make money when you have money - even easier to preach from that ivory tower.
 
steve184 said:
with the greatest respect - whats with all this 'mummy and daddy' ****??? I'm sure if someone is living with their parents they have a good reason for doing so - definately not in the realms of being anybody's business of questioning, calling them wrong or calling them 'sad' Think thats a bit unfair - especially coming from someone who has parents with a 500k house and in-laws with a 600k house - ooooo what a hard life they must lead! It's very easy to make money when you have money - even easier to preach from that ivory tower.
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A bold set of opinions...

To me, someone who lives with mummy and daddy at 30 year old is sad...
Especially someone who spends vast sums of cash on running new expensive cars...rather than moving out.
But each to their own.
They may well have a valid reason - keeping spending their cash on cars and sponging off their folks instead of moving out, will be seen as valid by some.

Personally, I think people should learn what the real world is like...never mind sponging of mummy and daddy as they head towards middle age.

As much as a flash car may impress...living with your folks at 30 (for example), IMHO makes people look sad.


You also show a very naive approach to house prices...most parents/parent-in-law will have bought houses many years ago...my foks paid £8000 for their house in 1977. It's now valued at £250,000.
My father is a normal working bloke...not some hoorah henry that had things handed to him...
If they'd bought a house somewhere else in the country, the prices could very easily have gone £8000-£600,000.


As for the 'easy to make money when you have money' crap...it's just that. Crap.
Life is what you make it.
You either spend your life making every penny a prisoner (end up rich)...or you spend the lot (end up poor).
There is no right or wrong - although there is definately shades of more and less sensible.
I guess the middle ground is where most are/want to be.

But I don't know of too many people that have been gifted all the money they desire...which means for them to have what they have...they've sacraficed something along the way....and to them it's been worth it (no flash cars in order to move out and buy property, for example)

I envy Andy Mac as he'll be mortgage free in a few years...I wish I was.
But I'm a wage slave like most on here...and I don't have the self restraint. So I'll keep working, keep spending...on cars also...and try not to thing about what could have been if I'd been more like Andy.

There are no ivory towers involved...just the way life is.
 
Whatever makes people happy I say. Life is way to short to worry about money. Cut the suit according to the cloth my grandad said. He was right. As long as you're not knowingly borrowing way more than you can afford.
Except for an Audi;)
 
We all work hard so are all entitled to treat ourselves on cars etc I have no probs with that its normal. Living with your folks a bit longer than most is not especially sad BUT living with your folks too long because you've spent too much cash on cars etc is sad.
It must be great for a new girlfriend you get to find your dad munching cornflakes at the breakfast table and your mum making the bed as soon has she has got out of it!
 
Absolutely, live with your parents if you need to scrape together a deposit for a flat/house, but you'll be there forever if you keep buying new cars. I have no sympathy for people moaning they can't afford a place of their own (unless they live in London) when they're driving around in a brand new car.
 
I moved out of my parents place when I was 16. To this day, I do miss that "security" it brings. Don't get me wrong, I couldn't live with them either anymore!
You do have a sense of pride when you pay your own way that is very true but I really am the type of person who respects someones choices as long as they're sensible. It's their life, not yours!
 
steve184 said:
with the greatest respect - whats with all this 'mummy and daddy' ****??? I'm sure if someone is living with their parents they have a good reason for doing so - definately not in the realms of being anybody's business of questioning, calling them wrong or calling them 'sad' Think thats a bit unfair - especially coming from someone who has parents with a 500k house and in-laws with a 600k house - ooooo what a hard life they must lead! It's very easy to make money when you have money - even easier to preach from that ivory tower.
Click to expand...

Firstly I made a tongue in cheak comment about living with parents. And I'm with Ess_three that if your in your late 20's and living at home that is a bit sad.

Perhaps you need to practice what you preach as well as you have made assumptions about my back ground...

My parents made a lot of sacrifices to get the house they have now and I am definately not spoilt. Fortunately their plan of ploughing all their money into a house has paid off.

I was brought up that if I wanted something I had to work for it. I didn't start to make a decent salary until I was about 26/27 so you comment about it being easy to make money when you have money is a crock. I still managed to move out of my parents house though in my early 20's, I didn't have the flashest pad or the newest of cars.

I have worked ****** hard for everything I have now. For the last 8 years I have worked at least 50 miles from home, I spent 5 years in a job which involved a lot of travel where I was away for 3/4 months at a time which I am sure those others that are away a lot will agree put's a lot of pressure on relationships. Not to mention missing your family and friends.

I have a 15 month old boy that I dont get to see every day as I spend around 13 hours a day out of the house. I am out of the house before Sam is up in the morning and most nights I get home after he has gone to bed.

Yer it is really easy to make money when you have money....
 
I wonder how the parents themselves feel.
To me, it doesn't matter whether the kids are being forced to stay at home, due to house prices, or are choosing to stay at home.
If they then 'take the ****' by buying flash cars, the parents need to take a look at themselves.
Are they 'holding on' to their 'special soldier' just a bit too long?
Or are they, as I would be, ****** furious with 'flash Harry'?
We have a lad here.
29 years old, stays at home.
Subaru and booze is his life.
I've lost a lot of respect for his father, who also works for us.
He's either scared to let go, or doen't have the balls to tell his son to get a grip.
Either way, that's a puff.
 
I couldn't afford to buy a house even if I hadn't bought the car!
 
I agree bowfer...

You hear of it all the time, living at home with mummy and daddy at 30, washing done, meals ******, room cleaned...no form of board paid to the folks.
An expensive car in the driveway...and a wardrobe full of all the best/most expensive gear.

Grow some balls, gain some respect for your folks...and make your own way in life...
Most will concur, that once you move out, you look back on it as the best thing you ever did.

Sure, it can be tough for a few years...but worth it in the long run.

Of course...that's just my view.
It was tough for me at the start (like most) but well worth the living on beans on toast and driving the same car for a while.
 
Yep I know that houses prices are high most places but here more so than most with the exception of London. I've tried to get a mortgage but it doesn't come to half of what I need and I dont make enough money to save up enough to cover the shortfall - even if I didn't have the car payments its not enough.
 
bowfer said:
Surely you'd be a damned sight closer though!
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it'd still take me 15 years to save up the shortfall between the mortgage I can get and the house prices. then house prices will increase in that time aswell and most likely at a rate that will outstrip my salary increases
 
So just out of interest whats the long term plan?

Can you not do one of these schemes where you buy half the house and the council/goverment (not sure who) buy the other half and you pay a low rent on the other half to get you on the property ladder? Or are these not very good?

J.
 
Sell the car and use the money for training to get a better paid job, or maybe use it for your own start up? Or invest as some do on this board (but I wouldn't know anythign about that!)

I left home when I was 17. I had a job earning £4000 a year - This was only 9 years ago so you can imagine how little that was. Me and my then girlfriend rented for 5 years and it was tough.

I worked and studied hard (sometimes for no pay at all) and now I run my own business doing exactly what I started doing at 17. I now have my own house worth a bit more than the national average, and a month old S3.

Dont get me wrong, i'm in no way 'minted' but what I do earn I spend wisely. Cars are my only weakness, but they are also my only treat
 
I'm saving up and part ownership is an option but if I cant do that I'll have to rent even though thats effectively paying someone elses mortgage. But I dont want to be living at home when I'm 30 so thats what I'll have to do
 
I can't afford to buy down here as a 1 bedroom house will set me back £212,950. I earn good money but couldn't afford that even after selling the S3. I plan to buy and rent a house in North Shields as I can afford up there and continues renting down here.
 
I know this is getting well off topic...but hell, it's off topic already...

Shared ownership seems to work for some I know. Gets you on the ladder early...


Out of interest, what are propertly prices like throughout the UK?

What will a typical 1st home cost people?
1. Say a 1 or 2 bedroom flat/maisonette/semi?

2. What about a 3 bedroom detached/semi detached house?

3. Or a 4-5 bedroom, detached, really nice family home?

I suppose where I am, the prices would be around:
1. £110k (valued at £90k ish, offers over £80k leaving you to find the difference)
2. £180-220k (valued at £170k ish, offers over £150k leaving you to find the difference)
3. £280-350k (valued at £270-300k ish, offers over £260-300k leaving you to find the difference)

I know these prices are still well under many parts of the Uk...so what's it like in other areas?
 
1) 1 bed flat £180,000
2) 3 bed detached £400,000
3) 4 bed detached £600,000

Leatherhead, Surrey
 
Northamptonshire, where i live prices are as follows

2 bed flat £125,000
4 bed 3 storey semi £200,000
4 bed house £250 - £300,000
 
Ess_Three said:
I know these prices are still well under many parts of the Uk...so what's it like in other areas?
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Whilst I agree Aberdeen house prices aren't as bad as many parts of the UK, they've risen at a ludicrously fast pace, far outsripping salaries in the same timeframe.
My house, for example;
4 bed detached with double garage in Kingswells.
Bought in Christmas 2004 for fixed £185K
Now worth around £320K.
So, in only three years,almost to the week, my house has increased to the level that I couldn't hope to afford it now!
Mental.:scared2:
 
steve1975l said:
1.85m for a nice 6 bed...pub in walking distance.
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LOL....define nice! I guessed nice would be a 4 bed detached, decent size (i.e. 3 double beds and a single, ensuite, b/room, cloak, double garage, decent area with good schools.) Which you are looking at about £400K where I live.

Alternatively you can can go for Chillworth where the expensive houses are and pay millions...
 
bowfer said:
Whilst I agree Aberdeen house prices aren't as bad as many parts of the UK, they've risen at a ludicrously fast pace, far outsripping salaries in the same timeframe.
Click to expand...

I know what you mean...

My house, for example;
4 bed detached with double garage in Kingswells.
Bought in Christmas 2004 for fixed £185K
Now worth around £320K.
So, in only three years,almost to the week, my house has increased to the level that I couldn't hope to afford it now!
Mental.:scared2:
Click to expand...

I hear you!
Similar with mine...
Bought new Oct 2005 as a Scotia new-build in Ellon (4/5 bedroom, DG, big plot) and after waiting 2 years for it to be built (fortunately after somehow managing to get them to fix the price nearly 2 years before, with a £10k deposit!)
List was £210ish...I went mad on the options and ended up at £240 ish...and it's would go for £330k ish now...

I knew I'd loose out on all the options (potentially) when I bought it, but always intended on being in it for many years..so the valuation of approx £320-330k is a bit of a surprise to me.
I'd struggle to afford it now...

The 'amount over' being paid is dropping in Ellon...but it doesn't bother me, I'm not looking to move. Ever. :noway:
 
Ess_Three said:
The 'amount over' being paid is dropping in Ellon...but it doesn't bother me, I'm not looking to move. Ever. :noway:
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Really? Never move? Is that because yo ulove the place or you just have your ideal home?

I moved into my current house just under 2 years ago. It's only my second house but it was never going to be the last house I bought. It is perfect and took us 9 months of looking to find. Lovely location, right catchment for the best school in the area etc but I still want to move up the ladder. Hopefully the next one will be the one I stay in.

J.
 
marriedblonde said:
Really? Never move? Is that because yo ulove the place or you just have your ideal home?

I moved into my current house just under 2 years ago. It's only my second house but it was never going to be the last house I bought. It is perfect and took us 9 months of looking to find. Lovely location, right catchment for the best school in the area etc but I still want to move up the ladder. Hopefully the next one will be the one I stay in.

J.
Click to expand...

Both...

I like where I live. The town is pretty enough, easy access to where I want to go, low crime, decent area, close to the Airport/Heliport for work etc...

In the right catchment area for the Primary schools...

Walking distance from the pubs...


And since I made the decision many years ago not to move to an 'intermediate' home, I waited for a reasonably big 4 + Study / 5 Bedroom house to come up that I wanted (in my case 3 bedroom, 1 study and 1 cinema room, living room, dining room, kitchen/family room, utility room, the usual selection of bogs/shower rooms/en-suites/bathrooms...sorry 'cloakrooms' that the marketing people like to bang on about..
Nothing special...just a traditionally built nice home, with all the rooms I wanted, finished off well with a few nice-to-haves, to ease the pain of the moprtgage payment.

I got the double garage and big driveway I wanted...with access from garage to the house via the utility room...
Big level garden (as modern houses go)...although I curse that decision every time I need to cut the grass...
Lovely kitchen/family room with granite worktops & the little sunk in light thingies in the ceilings...
Light oak doors, facings, door frames etc...
Everything I really wanted...all radiators, sockets, TV points, phone points where I wanted them, speaker cables ran behind walls etc...
Everything just as I wanted it.
Hence the wait for it...and amount of options I ended up with.


Since I detest moving with a real passion...I hope to never have to ever again.
 
Ess_Three said:
Since I detest moving with a real passion...I hope to never have to ever again.
Click to expand...

Oh I don't mind that.
I'm on my seventh house and I'm looking to move again.
Probably from Kingswells to Westhill, because it has more to offer in the way of pubs/restaurants/schools.
Be upheavel for my young daughter, but better to do it now than later.
(she's nearly 5).
 
Oh no...not for me.
Folks > Flat > House.
That's it...

I have mates in Kingswells...and there isn't much there, is there?
Some lovely houses...but not much by way of pubs, resteraunts etc...so I see where you are coming from.
Not a bad time when your little girl is 5...before school really takes a hold.
Good luck if the move comes off...
 
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