GDP figures expected to show the UK economy has slowed

peakoil_2

peakoil wrote: »

I take it that you are either:

a renter who is saving up a 100% deposit on a house and will not need a mortgage.

living with mum and dad and has no inclination to leave and will inherit their house when they pop off.

someone who has paid off their mortgage and has forgotten that he had to take out a mortgage to do it but was fortunate not to get into any financial problems while he had the debt.

no answer from abaxas....

its easy to point at other peoples bad financial management when you yourself only manage your own finances with only yourself to worry about and when you know that if you lose your job the government will pay your rent until you are back on your feet. hypocrite bear meme with an amazing lack of self awareness :rotfl:

abaxas

peakoil wrote: »

I take it that you are either:

a renter who is saving up a 100% deposit on a house and will not need a mortgage.

living with mum and dad and has no inclination to leave and will inherit their house when they pop off.

someone who has paid off their mortgage and has forgotten that he had to take out a mortgage to do it but was fortunate not to get into any financial problems while he had the debt.

Partially right.

We rent now as we moved from Sheffield to Newcastle and I wanted to make sure the OH was settled and happy before committing to a house purchase. She is now settled and happy.

We are currently looking to buy a house and have a healthy deposit, saved from me working for years as a contractor and some good investments which have paid out. We will be taking out a sensible mortgage and leave some rainy day cash just incase something goes wrong. We will NOT be over stretching ourselves and will borrow to traditional multiples.

In terms of living with 'mum and dad'. For years I technically did as my business was based at that address. But since I moved round the country it was easier for me to live there for bank accounts and letters etc, instead of having to change things ever 6-12 months.

I have no other debts as I did the sensible thing and 'drew my horns in' for 6 months and build up a cash fund. That way I can buy what I want when I want and not worry about financing it. My current car was paid for years ago but I still put the £250 a month aside for a new one. Why pay 10-15% more for something and be disadvantaged later when you can take a small hit now and be happy forever.

If anything I'm a little too careful as I've been in the situation where debt and loss of job nearly destroyed me. I promised myself never to be like that again. Ie I have learnt from my mistakes by the disadvantages of them and never want to be like that again.

Remember that financial stability is possible for all in this country. It is their choice if they wish to suffer. Obviously with the exception of the few years post education.

abaxas

peakoil wrote: »

no answer from abaxas....

its easy to point at other peoples bad financial management when you yourself only manage your own finances with only yourself to worry about and when you know that if you lose your job the government will pay your rent until you are back on your feet. hypocrite bear meme with an amazing lack of self awareness :rotfl:

No, just a honest answer that took a few minutes to write :P

peakoil_2

abaxas wrote: »

No, just a honest answer that took a few minutes to write :P

do you think that everyone could go down your route, contracting, working abroad, etc? I take it you dont have kids either. how old are you?

abaxas

peakoil wrote: »

do you think that everyone could go down your route, contracting, working abroad, etc? I take it you dont have kids either. how old are you?

Mid thirties but did most of the contract work in my 20's.

I dont think everyone can go down that route. But when I was contracting away, I paid myself 1k a month. Which was much lower than the average wage at the time. Still bought an new(ish) audi A3, rented some nice flats, had nights out, etc.

I just didnt 'p!ss money' up the wall. I worked out that by making myself lunch instead of buying it, paid for the 1/2 the A3 over 4 years. Buying designer clothes in the sale meant I could wear nice clothes for 'officers club' prices.

Wife wants kids, hence why we are looking to settle. I dont mind either way!

peakoil_2

abaxas wrote: »

Mid thirties but did most of the contract work in my 20's.

I dont think everyone can go down that route. But when I was contracting away, I paid myself 1k a month. Which was much lower than the average wage at the time. Still bought an new(ish) audi A3, rented some nice flats, had nights out, etc.

I just didnt 'p!ss money' up the wall. I worked out that by making myself lunch instead of buying it, paid for the 1/2 the A3 over 4 years. Buying designer clothes in the sale meant I could wear nice clothes for 'officers club' prices.

Wife wants kids, hence why we are looking to settle. I dont mind either way!

so you are basically saying that everyone should rent until they are in there mid to late 30s, contract and live abroad until they have saved enough money to then settle down and buy a home and have kids with little chance of financial problems. shame your kids will have the embarasment of elderly parents turning up on sports days.

what a crackpot. :rotfl::rotfl::rotfl:

abaxas

peakoil wrote: »

so you are basically saying that everyone should rent until they are in there mid to late 30s, contract and live abroad until they have saved enough money to then settle down and buy a home and have kids with little chance of financial problems. shame your kids will have the embarasment of elderly parents turning up on sports days.

what a crackpot. :rotfl::rotfl::rotfl:

No,

That is just the path I chose. It was only loss of job that took me on that path. If I hadn't, life would have been so much different.

Please return to your abode under the bridge and do not charge any toll for crossing.

peakoil_2

abaxas wrote: »

No,

That is just the path I chose. It was only loss of job that took me on that path. If I hadn't, life would have been so much different.

Please return to your abode under the bridge and do not charge any toll for crossing.

so you are saying that only those people who have large debts from reckless spending should be reposessed? those who are just young families with no debts but a mortgage that they have gotten into arreas with because Dad lost his job in a recession that was no fault of his own. these people shouldn't lose their homes?

abaxas

peakoil wrote: »

so you are saying that only those people who have large debts from reckless spending should be reposessed? those who are just young families with no debts but a mortgage that they have gotten into arreas with because Dad lost his job in a recession that was no fault of his own. these people shouldn't lose their homes?

All I am saying is that if you cant afford something you shouldn't have it. If you cant pay your mortgage, you should lose your home. If you can pay your debts the bailiffs should come round and take your belongings.

There needs to be morality in this world. There can be none if there is no disadvatange to failure.

Graham_Devon

peakoil wrote: »

so you are saying that only those people who have large debts from reckless spending should be reposessed? those who are just young families with no debts but a mortgage that they have gotten into arreas with because Dad lost his job in a recession that was no fault of his own. these people shouldn't lose their homes?

Oh chucky do shutup.