How have you benefited from low interest rates?

moggylover

DervProf wrote: »

It never ceases to amaze me how "dumb" some people on relatively large salaries seem to be. They are either dumb, or don't understand how the average person lives from day to day.

That's not dumb! That's deliberately obtuse so that he can big himself up:D

It's also being completely out of touch with life in the real World, for real people.

It hasn't been "great" for me, lost out on the sale of my mothers house (following her deeath) because of the crash, and have made next to nothing on savings since. However, earnings aren't bad, mortgage was already paid off and I have no debts.

Nevertheless, shopping bill has gone up, so has council tax, and so have utilities. As for diesel:eek:. I personally think food has gone up far more than the inflation figures would suggest, and with 2 (sometimes more) growing teenagers in the house a decent proportion of my income goes on that:(

I shall admit to being slightly miffed that the first time I manage to get substantial savings in the bank the interest rates are so poor: especially since I had the misfortune to hold a mortgage in the years when mortgage interest was as high as 15%.

orangeshoes

nearlynew wrote: »

If inflation goes up a bit "just cut your spending"

And then cut it a bit more the next time it goes up.

Can you tell what it is yet?

Something to do with liars and thieves? Or possibly some form of theft? Or maybe debt not being wealth? One of those three things anwyay, or possibly a combination of both.

nearlynew

orangeshoes wrote: »

Something to do with liars and thieves? Or possibly some form of theft? Or maybe debt not being wealth? One of those three things anwyay, or possibly a combination of both.

Mathematics is obviously not your strong point.

whatyadoinsucka

mm.. far better off by november the mortgage will be under the key £100k mark, so paying a £1k a month we should see it dropping off unless base rate hits 10%

I think my major life change is I have finally grown up and don't drink as often as i did during my teens, 20s and early 30s.
Therefore i actually have fruitfull sundays, far less clothing expenditure, as opposed hangovers from hell and piles of washing
and i have an extra £500 in my pocket a month

tyllwyd

How have we benefited from low interest rates in this family? Not in the slightest - we have a long term fixed rate mortgage, my OH has had less than inflation rises for the past few years, I'm freelance so haven't dared push my luck with rises in what I charge in case work dries up, credit card rates have gone up rather than down, interest on savings is rubbish, and food/petrol/utilities etc have all gone up.

geneer

Cleaver wrote: »

I don't think there's anything wrong about drinking £200 bottles of stuff or buying a Ferrari if that's your bag.

What is a bit strange is telling lots of strangers about it on the internet and having an almost-constant two year argument about it with a man you've never met from Devon.

Gotta say, the lifestyle described doesn't particularly chime with the owner of a two bed city centre rabbit hutch flat.

I wonder if theres any correlation between falling house prices and Spamishes increasingly outlandish need for self aggrandizement.

Denzel09uk

How I have benefitted from low Interest rates.

I came out of my Fixed rate mortgage and I negotiated onto a Lifetime tracker with Barclays at 0.69% above base rate in February 2008 I think about 2 or 3 months before the interest rates went through the floor. Im still on that rate now and have been overpaying on my mortgage since then.

So i think I have knocked off about 7 years on my mortgage.

Denzel09uk

HAMISH_MCTAVISH

geneer wrote: »

Gotta say, the lifestyle described doesn't particularly chime with the owner of a two bed city centre rabbit hutch flat.

And as I don't own a 2 bed city centre rabbit hutch flat, that's hardly a surprise.

I wonder if theres any correlation between falling house prices and Spamishes increasingly outlandish need for self aggrandizement.

I wonder if there's any correlation between the fact that Scottish house prices have recovered to 2007 levels and geneers increasingly outlandish need for obsessive trolling.

geneer

Funny, but I'd swear the typical variable rate mortgage for 2007 and much of 2008 was around 7.5%.

Or did we forget that bit.

geneer

HAMISH_MCTAVISH wrote: »

And as I don't own a 2 bed city centre rabbit hutch flat, that's hardly a surprise.

Let me guess. You live in an eight bed mansion with a swimming pool on the roof.

HAMISH_MCTAVISH wrote: »

I wonder if there's any correlation between the fact that Scottish house prices have recovered to 2007 levels and geneers increasingly outlandish need for obsessive trolling.

:rotfl:Ah bless the averages game.
https://forums.moneysavingexpert.com/discussion/3049466

Don't worry wee man. Some of us have more focussed aspirations.