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UK goes from footloose to frugal
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lemonjelly wrote: »I've never had a credit card, never had a loan, never bought anything on finance.
Is there anything of a dilemma here though? We hear that it is necessary to have some level of credit to obtain a mortgage, in order to demonstrate ability to manage debt.
We are currently remortgaging and there was an expressed approval of the fact that I have a car loan in my name, as it is the only way for me to provide that evidence. And that's besides DH's own proof of creditworthiness plus our good management of our existing joint mortgage.0 -
To an extent, there is a difference for mortgages I think.
I've never had any form of credit for anything to date. I'm not a homeowner, but expect to have to mortgage at some point in order to buy (unless the kind of drops some on here are forecasting/wanting happen;)) but for any other purchase, I've saved for it.
A slight cheat, my first brand new car. I was at the time under the impression that I bought it on finance, with my dad being a guarantor (I was studying at the time). I was led to believe that payments were coming from his bank account. I had to pay him back. I found out years later that he'd actually paid for it out of his savings, & I refunded him the money. Since then though, nothing on the never never.
People now appear to make to many credit purchases to my mind. It's like they've not bothered to think about whether they actually want it.
Plus, I believe there is something to be said for the act of saving up for something, the tension, the anticipation, sometimes that's better than buying the bloody thing!It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
lemonjelly wrote: »To an extent, there is a difference for mortgages I think.
I've never had any form of credit for anything to date. I'm not a homeowner, but expect to have to mortgage at some point in order to buy (unless the kind of drops some on here are forecasting/wanting happen;)) but for any other purchase, I've saved for it.
A slight cheat, my first brand new car. I was at the time under the impression that I bought it on finance, with my dad being a guarantor (I was studying at the time). I was led to believe that payments were coming from his bank account. I had to pay him back. I found out years later that he'd actually paid for it out of his savings, & I refunded him the money. Since then though, nothing on the never never.
People now appear to make to many credit purchases to my mind. It's like they've not bothered to think about whether they actually want it.
Plus, I believe there is something to be said for the act of saving up for something, the tension, the anticipation, sometimes that's better than buying the bloody thing!
I've been waiting for a woman like you all my life, lemonjelly. Can we get married?0 -
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i'd love to save that much per month, but unfortunately the wife and 2 kids prevent me from doing so !!
well, them and the upkeep of the Aston and Yacht
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0
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