Tax & Spend Tories

[Mottie]

So, of you tried to do it now you'd have to do it for over a decade. Perhaps you would have managed.

No, I reckon if we were both living rent free in our parents houses, working three jobs between us and I was working evenings and weekends doing private jobs on cars, it’d be no harder and maybe easier to save up £60k in three years nowdays compared to saving up £3k back in the early eighties. If you want something and you are prepared to work and sacrifice for it, it helps a lot. If you want to live a Facebook/Instagram celebrity lifestyle you'll never save a penny and probably end up in debt and still be living with mummy and daddy at 40.

 

[IT Minion]

No, I reckon if we were both living rent free in our parents houses, working three jobs between us and I was working evenings and weekends doing private jobs on cars, it’d easier to save up £60k in three years nowdays compared to saving up £3k back in the early eighties.

I really doubt that. Assuming median pay for a male and a female (20-23) in 1983 you're looking at £200 a week combined. That's £10,000 a year total. Or three to four months salary.

Now it'd be about £35,000. So around 2 years of full time salary.

What took you so long?

 

[JohnD]

it’d easier to save up £60k in three years nowdays compared to saving up £3k back in the early eighties.

Tesco to give all shop floor and warehouse staff a pay rise to £9.55 per hour


IT Support Apprentice
Town Centre, Northampton (NN1), NN5 5JW
£8,515 per annum


PCV/Qualified Bus Driver - Rainham
Stagecoach Bus Holdings Ltd
Up to £13.81 per hour + benefits
RM13, Rainham

HGV Technician / HGV Fitter / HGV Mechanic
Kemp Recruitment Ltd
£17.44 per hour RM20

 

[Mottie]

I really doubt that. Assuming median pay for a male and a female (20-23) in 1983 you're looking at £200 a week combined. That's £10,000 a year total. Or four months salary.

Now it'd be about £35,000. So around 2 years of full time salary.

I can assure you we weren’t putting that much away for the house but the £3k was just the deposit. We also saved up a few grand for some working/repair money and of course, we saved for our wedding and honeymoon. We got married six weeks after we took possession of the house and only moved in then. I was screwing T&G flooring panels in our upstairs living room three nights before the wedding using a Yankee screwdriver and got married with the biggest blister you’ve ever seen on the palm of my hand!

 

[IT Minion]

I can assure you we weren’t putting that much away for the house but the £3k was just the deposit. We also saved up for some working money and of course, we saved for our wedding. We got married six weeks after we took possession of the house.

It'd be stupid to think you didn't spend some money, even if you were being thrifty overall. But if you two were on 10k a year and it took you three years then you we're saving about 10% of your income for the house each year.

Let's take our hypothetical new Mottie and new Mrs Mottie to be. If they save 10% of their income (3.5k) then they need to live with their parents for 17 years.

 

[Mottie]

Tesco to give all shop floor and warehouse staff a pay rise to £9.55 per hour


IT Support Apprentice
Town Centre, Northampton (NN1), NN5 5JW
£8,515 per annum


PCV/Qualified Bus Driver - Rainham
Stagecoach Bus Holdings Ltd
Up to £13.81 per hour + benefits
RM13, Rainham

HGV Technician / HGV Fitter / HGV Mechanic
Kemp Recruitment Ltd
£17.44 per hour RM20

Just two of those jobs would come to over £60k per year. We were doing three between us plus I was doing extra jobs. It’d be **** easy saving up £20k a year for three years if we were living at home rent free. What’s your point?

 

[IT Minion]

Just two of those jobs would come to over £60k per year. We were doing three between us plus I was doing extra jobs. It’d be **** easy saving up £20k a year for three years if we were living at home rent free. What’s your point?

It would have been even easier saving up £3,000 when you were young.

 

[Mottie]

It would have been even easier saving up £3,000 when you were young.

That was just the deposit for the mortgage. I think they held some back too until we got some damp proofing and woodworm treatment done. There was also some repair money - the house was a wreck - needed a complete central heating system fitting as well as a kitchen and bathroom to start with. Also needed wedding and honeymoon money. I’ve already told you that.

 

[IT Minion]

That was just the deposit for the mortgage. I think they held some back too until we got some damp proofing and woodworm treatment done. There was also some repair money - the house was a wreck - needed a complete central heating system fitting as well as a kitchen and bathroom to start with. Also needed wedding and honeymoon money. I’ve already told you that.

And you'd need the same now. So it wouldn't be any quicker.

 

[Mottie]

And you'd need the same now. So it wouldn't be any quicker.

My point was that most modern youths are simply not prepared to make those sacrifices and live in a building site with virtually everything secondhand including carpets and curtains, no holidays and an old jalopy out in the street. That’s before we even get to gym membership, the latest iPhone, three nights out a week, the latest TV, high speed broadband, sky subscription and so on. Different priorities these days. Some will and do otherwise the housing market would stagnate but they don’t tend to do it in their twenties.

 

[IT Minion]

My point was that most modern youths are simply not prepared to make those sacrifices and live in a building site with virtually everything secondhand including carpets and curtains, no holidays and an old jalopy out in the street. That’s before we even get to gym membership, the latest iPhone, three nights out a week, the latest TV, high speed broadband, sky subscription and so on.

You might be right, but only if you include that they'd have to save up for 17 years to do what you were able to do in 3. The world is different.

If they were able to manage it in three years making some sacrifices as you did, more would probably try.

Also, for comparison a colour TV in the 80s costs around £800 in today's money. That'd buy you a 65" or bigger.

 

[noseall]

My point was that most modern youths are simply not prepared to make those sacrifices and live in a building site

Utter nonsense.

 

[Mottie]

If they were able to manage it in three years making some sacrifices as you did, more would probably try.

I very much doubt it, most 'youngsters' want everything yesterday with no sweat or work involved.

 

[Mottie]

Utter nonsense.

Says the builder father lol. Your kids obviously would because they’ve got you to help out.

 

[noseall]

I very much doubt it, most 'youngsters' want everything yesterday with no sweat or work involved.

Nonsense.