The 'I want it NOW!!' debt/savings thread Part 2

jenjade

well done on your ebay listing CL i need to do it but can't be bothered

CompletelyLost

I know the feeling totally.

what was the £5 offer you had with your nectar card, Jen? Was it for £5 off at argos or did you just have £5's worth of points?

wendz86

I am looking to go to a greek island hopefully, maybe Zante Maria.

I do know I am in a very privalidged position to have help finacially from my parents, but they do have the money to help me and I am very good with repaying them , never take advantage.

CompletelyLost

You are lucky wendz Hope you didn't think my post was getting at you, I wasn't. My parents wouldn't lend me a penny if I was desperate, even though they could afford to (when I was younger, my dad promised to pay my university fees... he promised me he would pay from me being about 11 and had an account with the money in ready for me... however, when the day came around and I asked him for the first installment of fees, he called me a leech and left me deep in the doo-doo... he left me no time to apply for a student loan... hence why I am bitter! LOL).

I guess that is why I am so careful with money now.

mariagti

ohhh lovely wendz, when u hoping to book it for? I could do wiv some sun and sea ahhhh.

moneymabel

regarding interest, my parents/uncle havent charged me interest on my loans from them but i have added a bit to the sum to make up for what they are losing by not having it in savings. 20%'s a bit steep though!!!

moneymabel

Took the car out to my dad,the smell was oil,the engine block is covered in it,hopefully its just from where it has had some work before and not cleaned off properly and not the head gasket. Well, its under warranty so not disastrous but could do without the hassle

wendz86

Thats Ok i didn't think you were getting at me, sounds like it definitely is worth doing it your own way in your case!

We will be booking holiday for week starting 9th or 10th of May so won't be long till we go! Will need to buy a few bits for it wjhen we book soon, don't need much though

wendz86

Hope the car is OK Mabel, is annoying when you get a new car and then have problems with it.

Nichelette

Ooh, debate lol. To be honest my parents have never been in a position to lend me money, but my dad got 12k redundancy recently and with interest rates so low he didn't mind lending me the money for a few months so I didn't have to take it out of my ISA. I have the money to pay him back immediately if he needs it, and this is his way of helping me.

Charging bank interest rates is excessive and if I had kids I'd never do that to them, particularly when our parents generations have benefited so much from astronomical house price increases which have made it almost impossible for people our age to get on the housing ladder. Just look how we're all struggling to scrape together huge deposits because house prices are now so out of line with income multiples.

On top of that there are those of us who have gone to uni and now have huge debts before we've even started. I'm not trying to get into the argument about whether a state should fund university level education or not, my point is simply that previous generations (i.e. our parents, or at least those who have gone to uni) have had this paid for them.

Having to borrow from parents doesn't mean that we're reliant on them or spendthrifts, usually it means that people love their kids and want to help them out as best they can. If this means not charging them ridiculous interest rates then so be it.

Taking the interest on a savings account is perfectly fair, no-one (hopefully) would expect their parentss to lose money, but charging regular loan interest and making a lot of money out of your own child is is excessive.

And now that rant is over...

It was nice to get out and see the animals earlier, there are some small craft shops there and one had a notice about a craft fair being held in the middle of town one Sunday in June. It's £30 for a 3x3m table, the idea of doing it terrifies me but it would be a really good opportunity so I'm going to make inquiries.

I hope your car is oki and you can book your holiday Wendz .