House prices cause binge drinking

[Mercifull]

 

 

 

 

 

 

 

Rofl saw this great article on the BBC and was wondering about other peoples comments.

 

 

 

 

 

 

 

http://news.bbc.co.uk/1/hi/magazine/4306226.stm

 

 

 

 

 

 

 

It kinds makes a lot of sense in a way. Young people these days have a lot of disposable income. I mean i still live at home and take home (after tax, pension, NI etc) over ÃÆââ¬Å¡Ãâã950 a month.

 

 

 

 

 

 

 

I'd love to be able to move out, renting or id really love a place of my very own but when it costs ÃÆââ¬Å¡Ãâã400 a month just to rend a 1 bedroom flat and ÃÆââ¬Å¡Ãâã120k for a tiny little house or flat of my own how am I ever going to afford that.

 

 

 

 

 

 

 

So instead of doing what my parents did at my age, starting saving for a house, I have all this money and nothing to do with it. So I go out and drink :D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Its in the BBC Magazine so isnt to be taken too seriously but it does show some quite good points. So what do all you think about it?

[Rizla]

Hmmmm well i guess i'm pretty much at the other end of the scale, having just had an offer accepted on a house - no disposable income for me!

 

 

 

I don't know about that article really, i think it just depends on the person. If someone wants to go out and drink themself half to death for 5 nights a week, they'll find a way regardless of how much cash they have lying around.

[____]

I don't know about that article really, i think it just depends on the person. If someone wants to go out and drink themself half to death for 5 nights a week, they'll find a way regardless of how much cash they have lying around.

QFT

 

 

 

 

 

 

 

I know a lot of people with next to no income yet still somehow manage to gather enough cash to get trashed at least 3 times a week.

[Mercifull]

Hmmmm well i guess i'm pretty much at the other end of the scale, having just had an offer accepted on a house

 

 

 

Pretty sweet Riz, [arties round your house then every week ^_^.

 

 

 

Ive started looking around at houses atm recently too. Was gonna get a house near to my place a few weeks back but they wanted ÃÆââ¬Å¡Ãâã135k for it pfft. I cant afford that big a mortgage lol.

[Rizla]

Pretty sweet Riz, parties round your house then every week ^_^.

 

 

 

Ive started looking around at houses atm recently too. Was gonna get a house near to my place a few weeks back but they wanted ÃÆââ¬Å¡Ãâã135k for it pfft. I cant afford that big a mortgage lol.

 

 

 

 

 

 

 

Definitely gonna have a large and in charge housewarming, should be about 6 weeks before i move in if all goes well.

 

 

 

 

 

 

 

I'm actually paying ÃÆââ¬Å¡Ãâã115k for this house, but the mortgage is interest only at a fixed rate for 3 years. This works out to about ÃÆââ¬Å¡Ãâã380 per month (i think with Alliance & Leicester). I did it this way because it means i can keep costs down for a few years while still living in the house, then obviousy in 3 years when i've got a higher monthly earning, i can start a repayment mortgage.

 

 

 

The only advice i can give you is to make a budget for how much you know you'll be spending each month (stuff like car insurance, council tax, mobile phone bills, internet, house insurance, gas, electricity, water, food, petrol), but over budget for each one. Just be very, very sure that it's an affordable thing to do - no one wants to work 40 hours a week so they can pay off their bills and be left with nothing to save/spend.

[Mercifull]

Is that the one up by Willan? Is it furnished and one or two bed lol.

 

 

 

I dont think i could get a mortgage for more than ÃÆââ¬Å¡Ãâã120 on my wage

[Mercifull]

Is that the one up by Willan? Is it furnished and one or two bed lol.

 

 

 

I dont think i could get a mortgage for more than ÃÆââ¬Å¡Ãâã120 on my wage

[Rizla]

Is that the one up by Willan? Is it furnished and one or two bed lol.

 

 

 

I dont think i could get a mortgage for more than ÃÆââ¬Å¡Ãâã120 on my wage

 

 

 

 

 

 

 

Yeah that's the one. It's 1 bedroom but end terraced with a 2 floor garage, and additional parking space. The people that own it now have recently put in a whole new kitchen, bathroom, and living room floor, so it's really up-together (not sure how long that will last after i've moved in). Pretty good VFM considering the part of town it's in.

[indy500fan]

man houses are expensive. to rent or own. i was going to move out of my parents house until this january when i go to college, but then i thought, why? i like my parents basement, its cheap (only $150 a month, high speed internet, dish network tv, water, electricity) and i dont have to do my laundry 8) . i have a good amount of money coming in, but i dont ever binge drink. in fact ive never really drank before :D (3 smirnoffs over 2 hours, only thing to drink at the time). but it does kindof have a point, i spend a lot more money than i use to since i work all day instead of school. more money = more spending. i kinda binged on dvds a month or two ago, about 35 in 2 weeks.

[dusqi]

People spend way too much money on DVDs. The amount of "poor" people I know who have collections of 200+ DVDs is stupid. I look at their rack of DVDs and think "there's ÃÆââ¬Å¡Ãâã2,000 right there." They just feel "poor" because they only ever have ÃÆââ¬Å¡Ãâã20 to spend at any one time, and that's because as soon as they get ÃÆââ¬Å¡Ãâã20, they can't resist buying another DVD.

 

 

 

 

 

 

 

ÃÆââ¬Å¡Ãâã950 a month seems like a good enough amount to afford a small house Matt :) Not that I've worked it out properly like Rizla suggests.

[Mercifull]

*looks at his growing collection of dvds* :( lol

 

 

 

 

 

 

 

You are right though, i know a guy called Scott and hes always going on about being so poor. If you met him in a pub and hear his spiel you'd think he was a tramp whos been living in a box for the last 10 years (he kinda looks like one too at times lol) but hes ALWAYS buying music albums.

 

 

 

I dont think a week goes by he doesnt buy a new album or dvd or band poster. Its no wonder hes never got enough money to get a pint down the pub. (Speaking of pubs... if u read this riz? u going down wheater tonight?)

 

 

 

 

 

 

 

And yeah I have ÃÆââ¬Å¡Ãâã950 a month but then i have to pay for rent at home, food, car, petrol, mobile phone etc. I havn't really gone into detail about my expenses and i really really dont want to rent and end up paying someone elses mortgage when i could be paying my own, for my own house, thats mine. Plus i just dont think im ready to give up a sunday roast just yet ^_^

[Rizla]

ÃÆââ¬Å¡Ãâã950 a month seems like a good enough amount to afford a small house Matt :) Not that I've worked it out properly like Rizla suggests.

 

 

 

 

 

 

 

That's about right. I've budgeted ÃÆââ¬Å¡Ãâã1000 to cover mortgage payments, food, utility bills, council tax, car insurance, mobile phone bills, internet, house insurance - basically everything i know i will be spending money on. My monthly earnings over that amount will obviously be used to cover going out, buying clothes, and generally doing things that i like to do.