MSE News: Dump Sky and iPhones, struggling homeowners told

edited 30 November -1 at 1:00AM in Mortgages & Endowments
128 replies 15K views
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  • RuthnJasperRuthnJasper Forumite
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    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
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    The first thing I gave up when my struggles started was Sky. I haven't missed it. I think some folks genuinely cannot differentiate between a necessity and a luxury. Quite sad really.
  • The main problem is we are a "must have it now society" I know I'm going to sound like a grumpy old git but I'm afraid that many people under 30 think its their right to have a 50" plasma TV, latest iPhone, most expensive sky package no matter what their income is (apologies to the many MSE followers who have more sense). I'm constantly surprised by the number of young people I see around with very expensive iPhones etc but look if they could do with some new shoes and a square meal instead of a status symbol. The article is about mortgages is interesting but looking at the estate I live on only around 40% of houses have sky dishes compared with 90% on a nearby council estate, by the way I have many friends who live their including a family of 5 on a low income who all have phone contracts (approx £130 per month), sky package etc and have to give their eldest son (who still gets £30 per week EMA) £9 a day for food and bus fare as he refuses to take sandwiches and the free bus to colleague. Its very sad but we seem to have lost sight of whats really important and the value of money.
  • My monthly payments, in order of priority:

    1. Mortgage (obviously!)
    2. Council Tax (due to Council powers to recover funds otherwise)
    3. House insurance (I have to have it to comply with my mortgage and it is with the same bank as the mortgage)

    Then financial bills that can affect my credit rating quickly (credit cards etc).

    Then any other bills with a general bias towards bills that companies are quick to collect/remind about.

    Bills I don't pay at all as I don't have them:
    TV Licence
    Cable TV/Sky

    Some people appear to have that in reverse and need to face reality - as much as I hate the banks for their shameless profiteering in every area (look at the return they get on an average mortgage!), people need to get their priorities right.
  • smk77smk77 Forumite
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    My monthly payments, in order of priority:

    1. Mortgage (obviously!)
    2. Council Tax (due to Council powers to recover funds otherwise)
    3. House insurance (I have to have it to comply with my mortgage and it is with the same bank as the mortgage)

    Then financial bills that can affect my credit rating quickly (credit cards etc).

    Then any other bills with a general bias towards bills that companies are quick to collect/remind about.

    Bills I don't pay at all as I don't have them:
    TV Licence
    Cable TV/Sky

    Some people appear to have that in reverse and need to face reality - as much as I hate the banks for their shameless profiteering in every area (look at the return they get on an average mortgage!), people need to get their priorities right.

    Good list. But personally, I put food ahead of my mortgage! ;)
  • lol, good point! I was just thinking of the 'bit of paper arriving demanding payment' type costs!
  • Joe_BloggsJoe_Bloggs Forumite
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    @musicmaker29
    I hate the banks for their shameless profiteering in every area (look at the return they get on an average mortgage!),

    They barely make any money from mortgages and make it from selling other stuff. See Item 3 in your list.

    Shop around if you want the best value.
    J_B.
  • aaazzaaaazza Forumite
    32 Posts
    ferrari042 wrote: »
    The main problem is we are a "must have it now society" I know I'm going to sound like a grumpy old git but I'm afraid that many people under 30 think its their right to have a 50" plasma TV, latest iPhone, most expensive sky package no matter what their income is (apologies to the many MSE followers who have more sense). I'm constantly surprised by the number of young people I see around with very expensive iPhones etc but look if they could do with some new shoes and a square meal instead of a status symbol.....

    Couldn't agree more. I'm 25 and I notice this 'must have it now society' all around me.

    In the past I have been guilty of succumbing to it but now I'm a lot more aware of the value of money and my consumption of non-essential products/services.
  • Joe_Bloggs wrote: »
    @musicmaker29


    They barely make any money from mortgages and make it from selling other stuff. See Item 3 in your list.

    Shop around if you want the best value.
    J_B.

    It's a well haggled one! It was a bit ott at first but after the first renewal it became reasonable and I've always been impressed by Nationwide whenever I've dealt with them.
  • Percy1983Percy1983 Forumite
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    I was caught up in 'keeping up with the Joneses' in my younger days but have seen sense now before I buy a house.

    I currently enjoy freeview HD and a £6.80 per month phone contract and it will stay that way when I buy a house.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • jimjamesjimjames Forumite
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    Joe_Bloggs wrote: »
    @musicmaker29


    They barely make any money from mortgages and make it from selling other stuff.

    Rate paid out on Savings: 3%
    Mortgage rates : 0.5%-3.99% (approx)

    Not exactly a healthy way to make masses of money.

    I know these figures are a huge generalisation but you get the idea that making money from mortgages isn't easy with current rates.
    Remember the saying: if it looks too good to be true it almost certainly is.
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