Younger People (18-25) - Attitudes to money

SingleSue

You can also use spray oil Generali for the lower fat Yorkie puds/toad in the hole.

You don't think it will work but it does! (I was rather dubious the first time)

jellyellie

I'm 18 and have just bought my first home for my boyfriend and I - a 34ft yacht. I have been self-employed for the past couple of years, earning well, and living at home so I have been able to save a considerable amount for someone my age.

I paid for the yacht entirely upfront, so no mortgage or loan to repay. Our only monthly outgoings on her are our mooring fees, electricity usage and bottled gas (minimal). We are planning on spending £40 a month on food, and my boyfriend has a car that we are using a lot less now we're living together. This has given us the potential to continue to save a high proportion of our earnings, saving up for that 40ft yacht, then 50ft... ;-) No rent, mortgage etc. - we own our own home and space.

Neither of us can imagine ever moving back to life ashore. We love the community feeling you get from the sailing world, and plan on cruising the world in a few years. You always get people dropping by to say hello, and it's a great conversation point. I've always been really unconventional and into alternative lifestyles anyway, so it suits us perfectly.

I've always been a real scrooge when it has come to money. I'm great at earning it, but never want to spend it! When I do, it's always on items of big value - a laptop, digital camera - and I carefully research these to maximise resale value when I come to resell them. My boyfriend is the same. This prior planning worked really well for us when we came to sell things to live aboard.

I always make sure my money is making the most of itself, and opened up a Kaupthing savings account and Icesave ISA shortly after I turned 18. Within two months both went up the spout, so as soon as I received my money back from both I bought a yacht instead! Got a fantastic deal on her and I'm sure we'll do very well when it comes to sell her... but we're not thinking that far ahead yet, as we've had her for little over a week and love her to bits.

Generali

SingleSue wrote: »

You can also use spray oil Generali for the lower fat Yorkie puds/toad in the hole.

You don't think it will work but it does! (I was rather dubious the first time)

Interesting. I'd have thought it would just burn.

harryhound

jellyellie wrote: »

I'm 18 and have just bought my first home for my boyfriend and I - a 34ft yacht.
I paid for the yacht entirely upfront, so no mortgage or loan to repay. Our only monthly outgoings on her are our mooring fees, electricity usage and bottled gas (minimal). .

I bet there are people in both your families who think you are completely off your rocker.:D Do you find condensation is a problem at this time of year?

You have triggered a memory for me from the 1980's. I had a colleague who was a 20 something Australian, he and his wife were working over here for a few years.

Oil was making the country boom after Thatcher's restructuring recession of the early 80's and my colleague and a friend from Australia were proposing to buy an end of terrace in Clapham (London "South of the River"). From memory they were to spend 150K :eek::eek:

"You know Bruce, I went exploring that huge development zone building site yesterday, that they call "Docklands" ("why move to the middle of nowhere, when you can move to the middle of London?"). I got talking to a couple in a boat. Asked them how much they were being charged for mooring in one of the old docks. "Well actually nothing - the developer thinks that we and the fishermen add local colour when he is trying to interest investors" - Why don't you and your wife do something like that, its only 4 -.5 miles from the City - you could pedal to work".

He didn't take my advice - got a really well paid contract at IBM and as fast as he earned it, the house fell in value in the 1989 collapse.

With rich people cutting back, there will be mothballed boats in creeks and moorings getting cheaper and more easily available. If you need to move, it should not be too difficult in your "floating real estate". I know someone with an assignment in London, who has sailed dad's boat up the Thames, as that is a cheaper option than trying to stay in a hotel or even in digs.

Good luck
Harrry.

PS I do hope one of the two of you is keeping the accounts - get the cash flow wrong and everything else starts falling apart.

mitchaa

jellyellie wrote: »

I'm 18 and have just bought my first home for my boyfriend and I - a 34ft yacht. I have been self-employed for the past couple of years, earning well, and living at home so I have been able to save a considerable amount for someone my age.

I paid for the yacht entirely upfront, so no mortgage or loan to repay. Our only monthly outgoings on her are our mooring fees, electricity usage and bottled gas (minimal). We are planning on spending £40 a month on food, and my boyfriend has a car that we are using a lot less now we're living together. This has given us the potential to continue to save a high proportion of our earnings, saving up for that 40ft yacht, then 50ft... ;-) No rent, mortgage etc. - we own our own home and space.

Neither of us can imagine ever moving back to life ashore. We love the community feeling you get from the sailing world, and plan on cruising the world in a few years. You always get people dropping by to say hello, and it's a great conversation point. I've always been really unconventional and into alternative lifestyles anyway, so it suits us perfectly.

I've always been a real scrooge when it has come to money. I'm great at earning it, but never want to spend it! When I do, it's always on items of big value - a laptop, digital camera - and I carefully research these to maximise resale value when I come to resell them. My boyfriend is the same. This prior planning worked really well for us when we came to sell things to live aboard.

I always make sure my money is making the most of itself, and opened up a Kaupthing savings account and Icesave ISA shortly after I turned 18. Within two months both went up the spout, so as soon as I received my money back from both I bought a yacht instead! Got a fantastic deal on her and I'm sure we'll do very well when it comes to sell her... but we're not thinking that far ahead yet, as we've had her for little over a week and love her to bits.

Whatever floats your boat i suppose (Sorry couldn't resist:rotfl: )

But its comparable to living in a caravan, okay for a week or 2 but for the long term, takes a certain individual to put up with that.

All the best anyway

neas

Must admit while it seems a short term- medium term lifestyle wouldnt float my boat.

I just like the knowledge i have my space, my land, my bricks and mortar someday... that is mine and mine along... also sitting on a boat that will depreciate like a car in any market condition isnt good place to put money.

Ofc in the downturn its a perfect place to live . I will stay with my current plan to buy a cheap repo and then work ma a$$ off getting the mortgage down to 0 :P.

SingleSue

Generali wrote: »

Interesting. I'd have thought it would just burn.

I did too but surprisingly they didn't....you have to do a couple of good squirts though but still less fat than normal lard or oil.

It was great when I was at weightwatchers, I could still have my yorkie puds with my roast dinner.

girleight@

Isn't it a good thing that people have different attitudes to money? Otherwise we'd all be fighting for the best paid jobs while in reality many people prioritise other things. And if everyone saved loads for a deposit those who did manage it wouldn't benefit from the really good rates. Good deals are part of differentiation- if everyone was savvy then there would end up being a fixed price for everything. So really those who are good with money are benefiting from those who aren't!

jellyellie

harryhound wrote: »

I bet there are people in both your families who think you are completely off your rocker.:D Do you find condensation is a problem at this time of year?

PS I do hope one of the two of you is keeping the accounts - get the cash flow wrong and everything else starts falling apart.

Actually, our families think what we're doing is amazing. OH's family own a small boat themselves and have been planning on moving aboard for a few years now, so they think it's great we're doing it whilst we're young. My parents are equally proud of us - dad lived on a boat for a few years in his teens, cruising the Med' with his family. It was the best time of his life.

Condensation is pretty bad in the lockers below the waterline - because we're so toasty and warm inside, the cold water outside makes it bad. As a solution we've bought some thin carpet that we're going to line the lockers with tomorrow, then we can get our gear stowed.

And yes, I'm the money scrooge so I love keeping accounts!

Living aboard will never suit everyone, but do it right and it's no less comfortable than living in a house - it's definitely not like a caravan!! We have seperate cabins for our saloon, a seperate galley, seperate double bed cabin etc. so there's plenty of space to 'escape' to. We have warm air heating, hot running water, a shower, stereo, internet etc. - it's pretty luxurious actually! And it's our boat, that we can take anywhere in the world should we so desire. Ultimate freedom.

Jinky67_2

Supercharge_Me wrote: »

im 23, and i have a very good attitude to money, i save approx 65% of my wage each month and currently have quite a substantial amount to use as a deposit on a house. Whilst i still live with parents, i pay a fair rent and im not tight when going out with mates.

I still buy dvds, cds and games and all the top gadgets (iphone etc) and i have a season ticket, i have a couple of credit cards which i pay off in full every month. Personally i believe it all comes down to money management, if you cant afford it, dont get it, vary where you spend money. Im lucky to be bought up by parents who dont like spending money, so ive sort of learnt from them.

Are you ME??

Seriously word for word that post could have been written by me.

Im also 23, Im also saving a a large chunk of my wage for a deposit, Im also living with the parents and paying a fair bit to them in rent (a little less than i would to a landlord) Im also not tight when out with mates......I only earn an average wage in a secure job mind you.

I also have a Season ticket, still buy dvd's, go to cinema, and own some top gadgets (iphone etc) and i also have a couple of credit cards i pay off in full each month......you could be my clone

Next you will be telling me your Scottish too?