All the Empires, despots,meglomaniac's,fascists ,theological nutters,marauding hoards the world has seen and were all getting shafted by a load of skinny blokes in suits
Getting a good hiding off the bankers
- Thread starter Harbourwoodwork
- Start date
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They've given you the modern world and all its advantages.
You should be thankful.
Would you rather live in victorian times? Would you rather live in a cave?
You're a slave to the system yes but its your own greed that puts you there.
Have never borrowed money from a bank and never intend too.
You should be thankful.
Would you rather live in victorian times? Would you rather live in a cave?
You're a slave to the system yes but its your own greed that puts you there.
Have never borrowed money from a bank and never intend too.
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Norcon";p="2625470 said:
Never had a loan in my life and have a paid for house, Save up.
Owned cars but nothing flashy.
Took holidays, camped never flew yet.
Only had two children, all we could afford.
Don't live beyond you means, very simple but hard for some people as iv'e seen it happen with friends when their mrs wants better
?
What do you mean by that?
Credit cards are essentially loans. If you manage them properly you pay off every month and so it becomes interest free.
There is nothing wrong with owing money to a bank. In fact if you are paying less interest to borrow money from them than you are earning (after tax) to lend them money you would be foolish not to borrow.
Our mortgage is 1.49%, we get more in an ISA. It is therefore foolish to take money out of an ISA to pay off the mortgage.
Simply put. You need to create a household balance sheet, then a lifetime profit/loss (income/expenditure) account. If your figures allow you to live as you wish on the day you die then you should be all right.
Unfortunately very few people will be in this position (well in the private sector anyway)
There is nothing wrong with owing money to a bank. In fact if you are paying less interest to borrow money from them than you are earning (after tax) to lend them money you would be foolish not to borrow.
Our mortgage is 1.49%, we get more in an ISA. It is therefore foolish to take money out of an ISA to pay off the mortgage.
Simply put. You need to create a household balance sheet, then a lifetime profit/loss (income/expenditure) account. If your figures allow you to live as you wish on the day you die then you should be all right.
Unfortunately very few people will be in this position (well in the private sector anyway)
UK House Prices. Average house price £249,958
So how many years for the saving of £249,958
Ex council house bought about 5-6 yrs ago, very very cheap.+council discount of about 50%.
UK House Prices. Average house price £249,958
So how many years for the saving of £249,958
Source?
You seem to be £100k out.
Google wrote
I know guys with that much in the bank before they were 30. Just worked hard, saved, invested wisely and didn't squander it on drink and loose living. And didn't succumb to the "spend it and enjoy it whilst your young" mantra.
Investing wisely over the past twenty years was buying houses, letting them out to pay the interest, using the equity increase to borrow and buy another one.
Then selling the lot at the right time. Isn't hindsight wonderful.
It would be nigh on impossible for the vast majority of employees to have £250k in the bank by the time they were 30 any other way.
You are talking saving £20k a year (net) which is close to three grand a month gross. Anybody on that income would be buying houses and then they could make that sort of cash - but only by selling. If they still owned their property portfolio they might have a -ve net worth now.
Then selling the lot at the right time. Isn't hindsight wonderful.
It would be nigh on impossible for the vast majority of employees to have £250k in the bank by the time they were 30 any other way.
You are talking saving £20k a year (net) which is close to three grand a month gross. Anybody on that income would be buying houses and then they could make that sort of cash - but only by selling. If they still owned their property portfolio they might have a -ve net worth now.
C
Chunkydoc
I'm not skinny!
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