How skint is this country and the people in it?

[nun_hunter]

Far more important than any of this financial chat is what on earth was your dad doing in the toilet with a fork?

The fork was a cutlery fork he didn't realise was still in the washing up bowl when he tipped it down the toilet

Clearly he is hoping the 1.8 pence saved per bowl of water will add up to save him money in the long term. With the repair cost to the toilet he'll likely need to live another 150 years to recoup that though!

 

[Bavarianbrit]

I cant imagine hiring someone who didn't have a smart phone. case in point in the office i'm sitting in right now we don't provide telephones, just Ringcentral which we all install on our phones.

So the company expect the worker to supply his own comms equipment. Then the canteen cook can supply all their tools, lathe operator too etc, bit of a pee take IMO.

 

[Morkai]

This one lives on a 2 bed cottage funded by savings and life threatening actions in my late twenties. I owe no money to anyone, still spend half my income on unprocessed food as earlier in life and have no credit cards. Both my sons have houses, self financed by hard work. One by service and building the other by progressing from traffic clerk to Vice president of a huge haulage concern and now operations director.of a large port. It's all out there for youngsters if they want it. Too much clubbing, drinking and want this/want that before they settle down is not conducive to saving for anything.

Good to hear they've done well for themselves.

I would assume your sons are Gen X?
Gen X had good opportunities for the housing market compared to Gen Z.

There will be plenty of Gen Z'ers that make a good amount of cash but the housing playing field just isn't the same as it was for the Baby Boomers and Gen X.

I'm in the middle as a Millenial, buying for me was at the start of a very crappy time in the market. Bought just at the peak and lost 15k about a week later due to the housing crash.

 

[Bavarianbrit]

I bought for 135K had to sell it on 2 years later for 112K, happens all the time.

 

[Morkai]

I bought for 135K had to sell it on 2 years later for 112K, happens all the time.

We stuck with it, decided to stay put, paid a load off the mortgage. Once we got the balance down and remortgaged to a better rate we saved on the side for a new place.

Moved to a new house and rented it out the old one. Some see this as a problem but I'm keeping it as future income as pensions will be rubbish by the time I get mine.

 

[Liveonce]

Lots of these grumpy old gits in this country are living alone in a 4 bedroom house that’s paid for, and worth £500k and they’re complaining about the prices of food, fuel for their camper vans, utilities, council tax, energy, gas to heat the place……instead of downsizing and using equity to pay for what they need.
Lots of younger people can’t be bothered to try and save for a mortgage that’s never going to happen, so they just blow their wages on whatever they feel like.
Some get lucky and parents help them get on the ladder of course, but not many.
Crazy wages to house price ratio needs addressing.

fear not when the grumpy old gits need to go into a care home the council will fund the costs until the house sells and then take the money back from the sale and continue to take the money until very little remains.

 

[nun_hunter]

I bought for 135K had to sell it on 2 years later for 112K, happens all the time.

All the time or just after the 2008 crash?

I bought my first flat for £125k in 2007, split up with my partner 2 years later and it was worth £97k. Had to rent it out as couldn't afford to sell or buy my ex out but even the rent wouldn't cover the mortgage and ground rent/maintenance fees so was costing us too much each mo th.

We did manage to sell a few years later and break even and then took me another 8 years before I was in a position to buy.

Those who had equity in their property post the 2008 crash cleared up with buying cheap houses. Based on nothing but luck due to the time of buying and how fast prices rose out of their control and get somehow act like they're Warren Buffet for being a successful 'investor'.

 

[Bavarianbrit]

Had my savings all set up before 2008 then "oh phuck what do I do with it now as no interest anymore" so it is losing value, I put it all into property as nothing else seemed to make sense and I refuse to risk the stock market. Tough on todays young uns but we rent them out at 525 when the going rate now is 900 so I feel pretty ok about it.

 

[Bowland blades]

Glad you laughed at your last sentence

"We are doomed Captain , doomed I tell you !"

 

[Tim.243]

A sing along...get you FAC for Free..

 

[Smellydog]

Good to hear they've done well for themselves.

I would assume your sons are Gen X?
Gen X had good opportunities for the housing market compared to Gen Z.

There will be plenty of Gen Z'ers that make a good amount of cash but the housing playing field just isn't the same as it was for the Baby Boomers and Gen X.

I'm in the middle as a Millenial, buying for me was at the start of a very crappy time in the market. Bought just at the peak and lost 15k about a week later due to the housing crash.

What comes after genZ?

 

[Morkai]

What comes after genZ?

The four horsemen.

 

[Smellydog]

The four horsemen.

Bloody hope so.....

 

[Steve Q]

I am old enough to remember the oil crisis in the 70's, the 'winter of discontent ' in '79, Black Monday in '89, the 17% interest rates of the early '90's, Lord knows how many recessions, and a string of Governments offering solutions they knew could not be delivered.
Nothing ever changes, except you get older.
Life is finite but without the luxury of knowing when it will end.
Stop moaning, accept that politics and economics are imperfect - just make the most of what you have whilst you can.

I know things are hard. When I married in 1989 my wife and I worked two jobs each, seven days a week, for five years. Eventually we got ahead in the game, earning enough to buy our way out of negative equity. It takes time, but you have to play the long game, and not expect everything on a plate all at once.

I consciously have up a reasonably well paid career to go do something more satisfying and giving back. I sure miss the money but I don't miss the pressure, and I am a nicer person for it.

Life lesson - make the most of what you have rather than being jealous of someone with more.

 

[Ratel]

The four horsemen.

I'm here already. Waiting until X,Y.snd Z get out the f ing way.
FH.

 

[Bavarianbrit]

Here in Germany the story always was that almost 50% of a workers income was spent on food in the 1950s-60s now it is down to 12%.

 

[Rusty Gate]

If money is tight why are people not buying the second hand items you mention, rather than new

It’s worse than it ever was

 

[Heym SR20]

Speaking with an ex military friend in Germany. He remains a civilian contractor on one of our former military bases over there.

Lots of British military have been on major exercises in Europe. Many of the units now heading back to the UK. There are lots of unused ration packs being sent for incineration. Reason - British Authorities need to get veterinary stamps of approval on these before they can go back to the UK bases.

And just to clarify these are British Ration Packs, put together and hermetically sealed and sent with our troops to Europe. They have not been opened and in many cases not issued, but because of our Blue Tape they are being put in the bin.

And this sort of nonsense is going on at every level.

We have completely removed our abilities to trade. We don’t have natural resources. We have to rely on our ability to sell and trade products, goods and services with our major partners. But the current bunch have put huge barriers in the way.

 

[Heym SR20]

House prices. We bought our current property at the end of the last century. It cost about 3 1/2 times our combined annual income. To buy the same property today would be 10x annual income.

Even more irritating is that if we sold the current property and bought somewhere else for about same amount I would be spending a very good chunk of what we paid for this property on stamp duty to HMRC Scotland.

 

[Bo Diddley]

I am old enough to remember the oil crisis in the 70's, the 'winter of discontent ' in '79, Black Monday in '89, the 17% interest rates of the early '90's, Lord knows how many recessions, and a string of Governments offering solutions they knew could not be delivered.
Nothing ever changes, except you get older.
Life is finite but without the luxury of knowing when it will end.
Stop moaning, accept that politics and economics are imperfect - just make the most of what you have whilst you can.

I know things are hard. When I married in 1989 my wife and I worked two jobs each, seven days a week, for five years. Eventually we got ahead in the game, earning enough to buy our way out of negative equity. It takes time, but you have to play the long game, and not expect everything on a plate all at once.

I consciously have up a reasonably well paid career to go do something more satisfying and giving back. I sure miss the money but I don't miss the pressure, and I am a nicer person for it.

Life lesson - make the most of what you have rather than being jealous of someone with more.

Pleasure to read your post sir!