You'll be debt holders and have a huge mortgage to service for several decades.Its only temporarily and then the world is your oyster AND you’ll be homeowners!
No fucking way. £50 gym is a bargain for using it several times a week and going out for dinner a couple of times a month is nice.if people ended gym memberships or stopped going out to dinner etc.
I basically started to cut all the things that I really didn’t *need* like gym memberships, eating out loads or buying food at work, cut down on our food shopping bill and being smarter about our meals etc.Oh no, 25K! Definitely not 55K (I wish!). We're living at his parents so paying very minimal rent of £250 each. Both cars on finance unfortunately. My finance finishes next year so that will help massively. Other outgoings are car insurance, phone contracts, gym memberships, contact lenses, food shopping etc, credit cards (60 a month - that will finish this year thankfully). I will be a lot better off when my car finance and credit card ends but just interested to know if people ended gym memberships or stopped going out to dinner etc. to save.
yeah but owning a house faster is surely nicer? Haha and cutting back is not forever! if you’re talking £50 a month and then maybe another £100 for meals out a month that’s £150 in the pot each month = £1800 a year on top of what you’re alreadyNo fucking way. £50 gym is a bargain for using it several times a week and going out for dinner a couple of times a month is nice.
So I pay someone else’s mortgage off now at £1400 a month, I can’t decorate the house, we can’t add to the house, we have to ask if we want a pet, we have to ask someone else to come fix the tap if it leaks.You'll be debt holders and have a huge mortgage to service for several decades.
All these schemes are just props to keep the housing bubble inflated. Only help bankers and housebuilders.
I find it pretty depressing people are told to live their young years like they're impoverished just to buy an overpriced house. Go without everything for a few years, then you can take on a huge debt
House prices are so out of sync with wages it won't last forever. Then you have automation coming in at a rapid pace, the future is very shaky. Enjoy your life, there's a whole world out there and in a blink it'll be over.
My boyfriend has this and its so good! Barclays don't do this but they have a "blue rewards scheme". I put £4 a month and they put £3. Doesn't seem a lot but adds up!Doesn't save LOADS but have you tried the app that rounds your purchases up? So, for example if you spend 55p on some crisps it will put 45p into savings? Sorry I can't remember the name.
I know it's not a lot but you'll be saving without even realising it
[/QUOTE]I feel like I would go mad without my gym membership! Plus, if I quit the gym I will have more time to do other things for example go out and spend money!!
I think eating out is definitely something we need to work on.
I wasn't saying rental is perfect.So I pay someone else’s mortgage off now at £1400 a month, I can’t decorate the house, we can’t add to the house, we have to ask if we want a pet, we have to ask someone else to come fix the tap if it leaks.
or I save my hard earned money and put it into something that belongs to ME and that I will own that I can do whatever I please with. I will enjoy my life so much more when we can go on nice holiday, get married and have children because we have our own home. Right now I feel like I’m living in limbo because the house we live in is someone else’s!
You sound very bitter and seeing as you know nothing about me and the career I have I don’t think it’s your business to say what’s perfect or not but I’m sorry you have the view you have.I wasn't saying rental is perfect.
But putting just a 5% deposit down certainly isn't. You won't own anything. If interest rates rise that deposit could be lost as house prices fall and the moment you can't service the debt it will be taken away. You own nothing really until it's paid off. How many jobs are going to be secure for the next 30 years? Just because interest rates are low now, I wouldn't assume once you get a mortgage that you'd have oodles of money left over for holidays and that.
The whole system is messed up because people are allowed to borrow money to buy more houses and inflate the price. Most of those people were just right place at right time and can remortgage something existing. It's a Ponzi scheme.
Sure save some money for the future, but it's grim going without everything just to buy something massively overpriced. I still think a correction is due.
Oh no it's nothing to do with you, just being pragmatic about how risky it is to take long term debt for several decades, with a tiny deposit when the future of the job market and interest rates is very shakey.You sound very bitter and seeing as you know nothing about me and the career I have I don’t think it’s your business to say what’s perfect or not but I’m sorry you have the view you have.
It’s a choice millions of people seem to make happily every day and I’ve not encountered many people that have said they regret buying property but thank you for your input!
Fair play to you for wanting to be on the property ladder as to be honest renting is dead money - we rent and would love to buy and im sure we will when the time is right.You sound very bitter and seeing as you know nothing about me and the career I have I don’t think it’s your business to say what’s perfect or not but I’m sorry you have the view you have.
It’s a choice millions of people seem to make happily every day and I’ve not encountered many people that have said they regret buying property but thank you for your input!
this is nonsense really. We saved so hard for our first house and put down a good deposit. We went without with regards to so many things. I was 35. We have been here for 5 years and are now moving to another house that’s more expensive and bigger as we now have 3 children. We’re going to be living in front of a beautiful park in a lovely area. We could only dream of this before, but because we prioritised and saved,our fitter for our family is looking great. I was also able to leave work after buying our house when I because a mum as our mortgage was lower than our rent. We’ve been making £100 over payments towards our mortgage each month. Buying is generally always better than renting in so many ways.I wasn't saying rental is perfect.
But putting just a 5% deposit down certainly isn't. You won't own anything. If interest rates rise that deposit could be lost as house prices fall and the moment you can't service the debt it will be taken away. You own nothing really until it's paid off. How many jobs are going to be secure for the next 30 years? Just because interest rates are low now, I wouldn't assume once you get a mortgage that you'd have oodles of money left over for holidays and that.
The whole system is messed up because people are allowed to borrow money to buy more houses and inflate the price. Most of those people were just right place at right time and can remortgage something existing. It's a Ponzi scheme.
Sure save some money for the future, but it's grim going without everything just to buy something massively overpriced. I still think a correction is due.
sounds like someone’s a little bitter towards property owners and is probably renting. You don’t need to convince those of us who would prefer to own our own homes rather than throw money at landlords to pay their own mortgages and live in big houses!I wasn't saying rental is perfect.
But putting just a 5% deposit down certainly isn't. You won't own anything. If interest rates rise that deposit could be lost as house prices fall and the moment you can't service the debt it will be taken away. You own nothing really until it's paid off. How many jobs are going to be secure for the next 30 years? Just because interest rates are low now, I wouldn't assume once you get a mortgage that you'd have oodles of money left over for holidays and that.
The whole system is messed up because people are allowed to borrow money to buy more houses and inflate the price. Most of those people were just right place at right time and can remortgage something existing. It's a Ponzi scheme.
Sure save some money for the future, but it's grim going without everything just to buy something massively overpriced. I still think a correction is due.
I think thats different though, as you were 35, which is a good age to buy a house.this is nonsense really. We saved so hard for our first house and put down a good deposit. We went without with regards to so many things. I was 35. We have been here for 5 years and are now moving to another house that’s more expensive and bigger as we now have 3 children. We’re going to be living in front of a beautiful park in a lovely area. We could only dream of this before, but because we prioritised and saved,our fitter for our family is looking great. I was also able to leave work after buying our house when I because a mum as our mortgage was lower than our rent. We’ve been making £100 over payments towards our mortgage each month. Buying is generally always better than renting in so many ways.
What would you suggest instead? Renting?You'll be debt holders and have a huge mortgage to service for several decades.
All these schemes are just props to keep the housing bubble inflated. Only help bankers and housebuilders.
I find it pretty depressing people are told to live their young years like they're impoverished just to buy an overpriced house. Go without everything for a few years, then you can take on a huge debt
House prices are so out of sync with wages it won't last forever. Then you have automation coming in at a rapid pace, the future is very shaky. Enjoy your life, there's a whole world out there and in a blink it'll be over.
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