my mother recently had her house valued, she was told that theres not much point putting onto the market now as it is dead.
I have thought about this alot and have become quite is happening to us? its a fact that in sales the market is really retail, cars, homes and basically everything, are we a nation distroyed by credit.
i dont mean to get personal on a finance level at all, it just strikes me that a few years ago everybody was doing well, now you can get cars on credit when really years ago no-one did it, you have credit companies giving out credit left right and center.
as a nation are we all spending money we dont have???
i mean you turn the t.v on and its all about money- remorgages, claiming for accidents at work, loans .......................... it really does my head in adverts like this should be banned!!!!!
from personal experience when given credit you spend money you havent got, well i do lol.
And eventually over time this is going to have a effect on your life finacialy.
people just arnt purchasing anymore!!!!
are we a nation of spending??? booze drinking, clubing, cars , houses????
and will this over time affect the nation????
hmmmmmm i just carnt see how it evens itself out???
hope this thread is ok
laura xxxxx
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are we all losing our money?
These companies are very happy to lend you money when it suits them... The Housing market does sem to have stopped but it hasn't dropped much... people that were lucky enough to buy before the boom started will still have positive equity..
If the market does receed much it shouldn't fall to much... the econemy could not sustain it...
Xen
x
If the market does receed much it shouldn't fall to much... the econemy could not sustain it...
Xen
x
Quote by bailiffs
my mother recently had her house valued, she was told that theres not much point putting onto the market now as it is dead.
I have thought about this alot and have become quite is happening to us? its a fact that in sales the market is really retail, cars, homes and basically everything, are we a nation distroyed by credit.
i dont mean to get personal on a finance level at all, it just strikes me that a few years ago everybody was doing well, now you can get cars on credit when really years ago no-one did it, you have credit companies giving out credit left right and center.
as a nation are we all spending money we dont have???
i mean you turn the t.v on and its all about money- remorgages, claiming for accidents at work, loans .......................... it really does my head in adverts like this should be banned!!!!!
from personal experience when given credit you spend money you havent got, well i do lol.
And eventually over time this is going to have a effect on your life finacialy.
people just arnt purchasing anymore!!!!
are we a nation of spending??? booze drinking, clubing, cars , houses????
and will this over time affect the nation????
hmmmmmm i just carnt see how it evens itself out???
hope this thread is ok
laura xxxxx
Short answer... yes.
But how can you spend something you never had in the first place?
People forget that credit is an IOU, not free money.
Sex God
People have 'stopped' spending because interest rates have gone up over recent months. The Bank of England raised them partly because the economy was overheating and part of that was substantial personal debt that the public had incurred. Higher interest rates mean it's much tougher to service those debts now.
There is now concern that the American economy is slowing down, which will slow the whole world - so interest rates might come down again. It'd be good though if people remember the lesson they are learning now and not get into debt again when this happens but I doubt that will happen
Instead of running up debts we should all be saving for our pensions. State pensions are not enough to subsist on and the private pension market has taken a real dive of late - to the effect that people are having to work much longer with the prospect genuine poverty for an increasing number of pensioners as we all live longer.
On that happy note - I'll fluck off - sorry - didn't mean to go off on one like that!!
There is now concern that the American economy is slowing down, which will slow the whole world - so interest rates might come down again. It'd be good though if people remember the lesson they are learning now and not get into debt again when this happens but I doubt that will happen
Instead of running up debts we should all be saving for our pensions. State pensions are not enough to subsist on and the private pension market has taken a real dive of late - to the effect that people are having to work much longer with the prospect genuine poverty for an increasing number of pensioners as we all live longer.
On that happy note - I'll fluck off - sorry - didn't mean to go off on one like that!!
Quote by westerross
People have 'stopped' spending because interest rates have gone up over recent months. The Bank of England raised them partly because the economy was overheating and part of that was substantial personal debt that the public had incurred. Higher interest rates mean it's much tougher to service those debts now.
There is now concern that the American economy is slowing down, which will slow the whole world - so interest rates might come down again. It'd be good though if people remember the lesson they are learning now and not get into debt again when this happens but I doubt that will happen
Instead of running up debts we should all be saving for our pensions. State pensions are not enough to subsist on and the private pension market has taken a real dive of late - to the effect that people are having to work much longer with the prospect genuine poverty for an increasing number of pensioners as we all live longer.
On that happy note - I'll fluck off - sorry - didn't mean to go off on one like that!!
The Bank of England base rate hasn't moved from % for the last 11 months, it is expected to drop by a quarter per cent in August to 4.5% and possibly another 1 or 2 quarter per cent drops in the next 12 months. The rest of TE's post is spot on but some people just never learn. :roll:
One other thing to bear in mine with the economy is the EURO, if this counrty was to take on board the euro you house value will be devauled your saving to,all over nite, it's to fold across europe, there are finding it hard to buy goods , there prices for items have gone up by half as much again
But we in this country think its still cheap ,ie there petrol, food ,fag, and there home to buy are cheap only if we keep the pound,
Remember 70/71 with the devalueation that is watt the Euro is
Do you think that if this counrty was to take the euro that your pertro ect would come down , no way you would be paying the same and half as much like we are now
Remember we are still paying for the WAR ie paying the USA
Do we want to be the poor man of europe again ???
And On a lighter note Carry on shagging
:doh:
But we in this country think its still cheap ,ie there petrol, food ,fag, and there home to buy are cheap only if we keep the pound,
Remember 70/71 with the devalueation that is watt the Euro is
Do you think that if this counrty was to take the euro that your pertro ect would come down , no way you would be paying the same and half as much like we are now
Remember we are still paying for the WAR ie paying the USA
Do we want to be the poor man of europe again ???
And On a lighter note Carry on shagging
:doh: Sex God
Quote by Edin BBW
The Bank of England base rate hasn't moved from % for the last 11 months, it is expected to drop by a quarter per cent in August to 4.5% and possibly another 1 or 2 quarter per cent drops in the next 12 months. The rest of TE's post is spot on but some people just never learn.
Thanks for the clarification and further prognosis. I wasn't quite sure when the rate had gone up.
Not so sure about the basis for Andytvw's concerns about the Euro. Adopting the Euro isn't devaluation. What it would mean is that the value and therefore worldwide purchasing power of the currency would be broadly governed by the European Bank and the amalgamated finacial policies across Europe.
The price of our imported commodities is largely governed by the tax regime of the UK government.
I'm sure some financial expert could explain it much better than me.
Debt financing is only part of the picture.
The economy turns on the following factors
Housing market, (turning a profit on a sale)
Employment (if people have job security they spend more on goods and services)
supply of goods and services (related to above)
intrest rates and sale duties (affect the price of things)
and the international versions of the above.
Something the Americans picked up on a long time ago was that war actually is good for business. That is one of the reasons why they invest so heavily in their military and have so many manufacturers. The USSR collapsed for many reasons but partly because they couldn't keep up with the west with their controlled (as opposed to free market) economy. (That doesn't mean im pro war or advocate it as a business solution)
We have gone over to a tertiary economy (that is a service based one) in the last forty years from a secondary industry economy (manufacturing), which was part of the up and down, boom and bust we saw in the preceding decades. By using the housing market as a means of generating profit and the availiability of credit, we as consumers have spent our way out of recession for the last 10 years.
Also low interst rates have meant that companies are borrowing more (refered to by their gearing ratio), whereas they used to generate extra cash on the stock market by issuing shares. That method was too volatile, resulting in the value of the companies floating up and down causing recruitment and redundancies depending on the day to day value of the company. The media takes much less of an interest in the stock markets than they did in the 80's because investors aren't taking risks on the market anymore, instead companies rely on bond issues and loans/mortgages from banks, with fixed interest repayments.
The economy turns on the following factors
Housing market, (turning a profit on a sale)
Employment (if people have job security they spend more on goods and services)
supply of goods and services (related to above)
intrest rates and sale duties (affect the price of things)
and the international versions of the above.
Something the Americans picked up on a long time ago was that war actually is good for business. That is one of the reasons why they invest so heavily in their military and have so many manufacturers. The USSR collapsed for many reasons but partly because they couldn't keep up with the west with their controlled (as opposed to free market) economy. (That doesn't mean im pro war or advocate it as a business solution)
We have gone over to a tertiary economy (that is a service based one) in the last forty years from a secondary industry economy (manufacturing), which was part of the up and down, boom and bust we saw in the preceding decades. By using the housing market as a means of generating profit and the availiability of credit, we as consumers have spent our way out of recession for the last 10 years.
Also low interst rates have meant that companies are borrowing more (refered to by their gearing ratio), whereas they used to generate extra cash on the stock market by issuing shares. That method was too volatile, resulting in the value of the companies floating up and down causing recruitment and redundancies depending on the day to day value of the company. The media takes much less of an interest in the stock markets than they did in the 80's because investors aren't taking risks on the market anymore, instead companies rely on bond issues and loans/mortgages from banks, with fixed interest repayments.
IMHO good post baliffs.
Personally I don't do loans or store cards etc, if I haven't got it I wont spend it. I do have a credit card but will only spend on it if I have enough in the bank to pay it all off at the end of the month.
The only debt we have is the mortgage, unfortunately very few off us can pay for a house in cash.
There have been a lot of programs recently about young (late teens/early 20's) people having lots of debt £20k+.
Unfortunately most of our students today start off life with lots of debt taking out loans to subside college/universaty fees and living expenses.
It used to be the case if you have got money you could borrow money, if you had no money nobody would lend to you. Thats doesn't seem to be the case know.
I've taught my kids (and hope with will stand them well for the future) the value of money, they have to save before they can buy, they never get IOU's, thou' I will sub them while we are out shopping only if they have enough money in their money boxes to pay me back when they get home.
I think that companies are plying us with loans etc so we will have to work longer to pay them off and that seems to suit the government just fine so they won't intervine.
kaz xx
Personally I don't do loans or store cards etc, if I haven't got it I wont spend it. I do have a credit card but will only spend on it if I have enough in the bank to pay it all off at the end of the month.
The only debt we have is the mortgage, unfortunately very few off us can pay for a house in cash.
There have been a lot of programs recently about young (late teens/early 20's) people having lots of debt £20k+.
Unfortunately most of our students today start off life with lots of debt taking out loans to subside college/universaty fees and living expenses.
It used to be the case if you have got money you could borrow money, if you had no money nobody would lend to you. Thats doesn't seem to be the case know.
I've taught my kids (and hope with will stand them well for the future) the value of money, they have to save before they can buy, they never get IOU's, thou' I will sub them while we are out shopping only if they have enough money in their money boxes to pay me back when they get home.
I think that companies are plying us with loans etc so we will have to work longer to pay them off and that seems to suit the government just fine so they won't intervine.
kaz xx
Quote by bailiffs
my mother recently had her house valued, she was told that theres not much point putting onto the market now as it is dead.
I have thought about this alot and have become quite is happening to us? its a fact that in sales the market is really retail, cars, homes and basically everything, are we a nation distroyed by credit.
i dont mean to get personal on a finance level at all, it just strikes me that a few years ago everybody was doing well, now you can get cars on credit when really years ago no-one did it, you have credit companies giving out credit left right and center.
as a nation are we all spending money we dont have???
i mean you turn the t.v on and its all about money- remorgages, claiming for accidents at work, loans .......................... it really does my head in adverts like this should be banned!!!!!
from personal experience when given credit you spend money you havent got, well i do lol.
And eventually over time this is going to have a effect on your life finacialy.
people just arnt purchasing anymore!!!!
are we a nation of spending??? booze drinking, clubing, cars , houses????
and will this over time affect the nation????
hmmmmmm i just carnt see how it evens itself out???
hope this thread is ok
laura xxxxx
You have to remember that all things move in a cyclical nature..... stock markets, house prices etc........ nothing can perpetually rise and nothing can perpetually fall. Having a little experience in the finance markets I can tell you that there appears to be a pattern of boom & bust emerging that comes around every 60 years'ish with mini booms & busts every 20 years or so. We had the last major crash in the late 80's and now 20 years later we are about to have a mini-crash (I call it a natural correction). House prices must fall as 1st time buyers simply cannot get on the housing market, this is what happened in the 80's but the only significant difference now is that we are not paying double figure interest rates, so a major house market crash is unlikely. A stagnant housing market or a slow downward correction over the next five years is far more likely.
When times are good people perceive that they have more money at their disposal than they actually have. They are encouraged to release equity in their homes so they can have their foreign holidays, nice cars etc. This is a con. You borrow your own money to pay it back with interest - a perfect scam!! Equity should always be left in property (but maybe used to finance the purchase of a second property, which is always a good solid long term investment).
When the inevitable hard times follow, people who have bought on credit have to repay what they owe PLUS realise a downturn in the equity in their homes ........ that's quite a financial swing to have to endure. I can hear a few keys being dropped through estate agents doors late at night .... but nowhere near as many as in the 80's.
Sex God
Quote by ajsbuk
We have gone over to a tertiary economy (that is a service based one) in the last forty years from a secondary industry economy (manufacturing), which was part of the up and down, boom and bust we saw in the preceding decades. By using the housing market as a means of generating profit and the availiability of credit, we as consumers have spent our way out of recession for the last 10 years.
Is it true that we are in the process of going one step further into a knowledge based economy - or is that just a component?
Sex God
I don't really care about the state of the economy... but I do wish someone would buy my fLucking house 
:lol: :lol: :lol:
:lol: :lol: :lol: 
Sexlightened
...if everyone paid back everything they owed and cashed in all their monetary assets (stocks, shares etc), there would not be enough actual cash to cover these payments.
It's a perverse system that one day a share can be worth say £1 and the next day £2 or 50p. Following that on, how can a large mutlinational company be worth say 10 million one day and say 8 million the next. It's largely a pretence. That company has not lost 2 million of it's value, just that in reality there never was £10 millions worth.
It's a perverse system that one day a share can be worth say £1 and the next day £2 or 50p. Following that on, how can a large mutlinational company be worth say 10 million one day and say 8 million the next. It's largely a pretence. That company has not lost 2 million of it's value, just that in reality there never was £10 millions worth.
the government can take a large share of the blame for the current finanial difficulties of some ppl due to the farce known as working persons tax cresdit 
.a system supposed to help the less well off who are in work but has somehow managed to bancrupt many due to giving wrong awards to thousands of applicants and then demanding the money give u an idea of the problem this has happened to me so last tax yr and the yr previous i got £194.0 0 per month from tax credit and this yr they say i have been overpaid by and my award for this yr is just per my point is if i have not changed my job in the past cpl of yrs and my income has remained the same during this time how can they get it so wrong :confused: .
.a system supposed to help the less well off who are in work but has somehow managed to bancrupt many due to giving wrong awards to thousands of applicants and then demanding the money give u an idea of the problem this has happened to me so last tax yr and the yr previous i got £194.0 0 per month from tax credit and this yr they say i have been overpaid by and my award for this yr is just per my point is if i have not changed my job in the past cpl of yrs and my income has remained the same during this time how can they get it so wrong :confused: . 
Sex God
Bailiffs, you've posted in the right forum, because as others have explained in greater detail than I could, for every upswing in the economy, there inevitably comes a downswing. :lol:
:lol: Quote by westerross
We have gone over to a tertiary economy (that is a service based one) in the last forty years from a secondary industry economy (manufacturing), which was part of the up and down, boom and bust we saw in the preceding decades. By using the housing market as a means of generating profit and the availiability of credit, we as consumers have spent our way out of recession for the last 10 years.
Is it true that we are in the process of going one step further into a knowledge based economy - or is that just a component?
may be of interest. I think your comment can be argued (like most things) either way, but I would imagine is the latter. I think we would stay in a tertiary economy, with "knowledge based" being an increasingly growing sector.
Quote by andytvw
One other thing to bear in mine with the economy is the EURO, if this counrty was to take on board the euro you house value will be devauled your saving to,all over nite, it's to fold across europe, there are finding it hard to buy goods , there prices for items have gone up by half as much again
But we in this country think its still cheap ,ie there petrol, food ,fag, and there home to buy are cheap only if we keep the pound,
Remember 70/71 with the devalueation that is watt the Euro is
Do you think that if this counrty was to take the euro that your pertro ect would come down , no way you would be paying the same and half as much like we are now
Remember we are still paying for the WAR ie paying the USA
Do we want to be the poor man of europe again ???
And On a lighter note Carry on shagging
Is this English? Couldn't make sense of a word.
Sex God
Quote by musketeer
One other thing to bear in mine with the economy is the EURO, if this counrty was to take on board the euro you house value will be devauled your saving to,all over nite, it's to fold across europe, there are finding it hard to buy goods , there prices for items have gone up by half as much again
But we in this country think its still cheap ,ie there petrol, food ,fag, and there home to buy are cheap only if we keep the pound,
Remember 70/71 with the devalueation that is watt the Euro is
Do you think that if this counrty was to take the euro that your pertro ect would come down , no way you would be paying the same and half as much like we are now
Remember we are still paying for the WAR ie paying the USA
Do we want to be the poor man of europe again ???
And On a lighter note Carry on shagging
Is this English? Couldn't make sense of a word.
Only just - I gave up, I'm afraid. Sex God
Quote by freckledbird
One other thing to bear in mine with the economy is the EURO, if this counrty was to take on board the euro you house value will be devauled your saving to,all over nite, it's to fold across europe, there are finding it hard to buy goods , there prices for items have gone up by half as much again
But we in this country think its still cheap ,ie there petrol, food ,fag, and there home to buy are cheap only if we keep the pound,
Remember 70/71 with the devalueation that is watt the Euro is
Do you think that if this counrty was to take the euro that your pertro ect would come down , no way you would be paying the same and half as much like we are now
Remember we are still paying for the WAR ie paying the USA
Do we want to be the poor man of europe again ???
And On a lighter note Carry on shagging
Is this English? Couldn't make sense of a word.
Only just - I gave up, I'm afraid.Yeah but you can get the sense of what he/she was saying. Don't be too picky on the syntax!!
Sex God
Quote by westerross
Instead of running up debts we should all be saving for our pensions. State pensions are not enough to subsist on and the private pension market has taken a real dive of late - to the effect that people are having to work much longer with the prospect genuine poverty for an increasing number of pensioners as we all live longer!!
Gordon Brown robbing pensions by taxing them didn't help the situation - things were already going bad before he did that with companies taking 'pensions holidays' from company pension schemes ... I thought it was a piss take even then.
The advice to save for our pensions is certainly good advice but we can already see the first steps towards them abolishing the idea of people retiring at 65/70 but working till you drop dead ... they call it 'giving people a choice' ... yeah, right!
I don't know the statistics, but how many years beyond 70 can 'you' realistically expect to live ... you may not even see any of your pension !!!
Sex God
Quote by J3diMast3r:D :D
The advice to save for our pensions is certainly good advice but we can already see the first steps towards them abolishing the idea of people retiring at 65/70 but working till you drop dead lol lol:rotflmao: ... they call it 'giving people a choice' ... yeah, right!
Couldnt agree more, i think we forget sometimes that goverments only work for the short term. (
5 years)Retirement age being 65/70++ will happen, what a bloody depressing thought :? Not for me if i can help it :shock:
Giving people choices :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao:
H, red x
Orgasminator
I’m OnlyMe1981 and I’m in debt…… well that’s how it feels sometimes, that you should attend debtors anonymous! 
Seriously though, I am in debt.
I have been ill over it and am now just about coping on a day to day basis.
I know it is entirely my fault but I did have a helping hand, well two actually. Personal circumstances won’t be discussed but it wasn’t all my fault, I was naive and silly and boy, am I paying for it!
The consequences? Lots of sleepless nights, still living at home with parents, no social life, no disposable income, stress, anxiety etc. It is all very well being taught the value of money, which I was, but it’s a completely different matter when you go out into the big wide world. These debts have built up and been with me since I was 18; I’m now 24 and have finally kind of sorted myself out.
I still don’t have much money as it’s all going on my debts and I’m glad about that as the more I pay, the quicker they go.
There is no way in the world I will ever get another credit card or loan. I have learnt the hard way.
It is easy to blame the banks, loan companies, credit card companies etc but they don’t force you to sign on the dotted line – yes it is very tempting and I’m not saying they are angels, far from it, but you have to read the agreement, sign the don’t do it for you.
I do think there is too much advertising, too much temptation and too much of an eagerness to pretend to help people when it is only going to make them worse off. I have been to a few debt management companies who wanted to halve my monthly payments but increase the term to 15 years and take 20%apr for themselves….. needless to say I didn’t sign up with them!
I don’t think in general we are a nation of spending…..yes there will always be people in debt but most of the people I know live within their means….. I know that isn’t a good number of people to generalise, but I don’t know many people.
Seriously though, I am in debt.
I have been ill over it and am now just about coping on a day to day basis.
I know it is entirely my fault but I did have a helping hand, well two actually. Personal circumstances won’t be discussed but it wasn’t all my fault, I was naive and silly and boy, am I paying for it!
The consequences? Lots of sleepless nights, still living at home with parents, no social life, no disposable income, stress, anxiety etc. It is all very well being taught the value of money, which I was, but it’s a completely different matter when you go out into the big wide world. These debts have built up and been with me since I was 18; I’m now 24 and have finally kind of sorted myself out.
I still don’t have much money as it’s all going on my debts and I’m glad about that as the more I pay, the quicker they go.
There is no way in the world I will ever get another credit card or loan. I have learnt the hard way.
It is easy to blame the banks, loan companies, credit card companies etc but they don’t force you to sign on the dotted line – yes it is very tempting and I’m not saying they are angels, far from it, but you have to read the agreement, sign the don’t do it for you.
I do think there is too much advertising, too much temptation and too much of an eagerness to pretend to help people when it is only going to make them worse off. I have been to a few debt management companies who wanted to halve my monthly payments but increase the term to 15 years and take 20%apr for themselves….. needless to say I didn’t sign up with them!
I don’t think in general we are a nation of spending…..yes there will always be people in debt but most of the people I know live within their means….. I know that isn’t a good number of people to generalise, but I don’t know many people.
well have you ever wondered why im called bailiffs? only a couple of years ago hmmm i got into debt...................after buying a brand new rover, escort rs turbo and a seirra saphire cosworth at around the same time who wouldnt!!!!!!!!!!
im currently becoming bankrupt and although it something not many people broadcast im glad to say i have learnt from this and now will earn the money before i buy!!!!
only a couple of years ago hmmm i got into debt...................after buying a brand new rover, escort rs turbo and a seirra saphire cosworth at around the same time who wouldnt!!!!!!!!!!im currently becoming bankrupt and although it something not many people broadcast im glad to say i have learnt from this and now will earn the money before i buy!!!!
Sex God
Quote by niceguysdoexist
I don't really care about the state of the economy... but I do wish someone would buy my fLucking house
I am sure if walls could talk there would be a queue of people battering down your door to buy it Blue
Yeah, but I think the spunk stains up the walls are putting viewers off :shock:
:lol: :lol: :lol: :lol: :lol:
Quote by bailiffs
well have you ever wondered why im called bailiffs?
im currently becoming bankrupt and although it something not many people broadcast im glad to say i have learnt from this and now will earn the money before i buy!!!!
Think I'm kinda in the same boat. About a year ago I bought a guitar on a well known internet auction site, and decided to pay for it using my new credit card. A year on, I still haven't paid the bill off (trying to tho), in fact I think the interest has made the total I have to pay back £150 higher
ops: I have learned my lesson, never use a credit card unless you can afford to pay it back
Just remember you are a small cog in a large machine called ''the economy''
if you were not in debt you would lose the incentives to ''work'' so to insure you always work the government will juggle the '' interest rate '' with the help of the banks to insure that any disposable income you have is recirculated into the economy... houses are a big problem for governments they tie up large quantity of the economy and allows the average working person to accumulate large quantities of asset that can be liquidated readily without paying interest to the government.. this upset their books and in a few years' time governments will stop you passing on your property without paying some heavy duty... probably 50 per cent in the tax... in short you are a slave to the economy..!!
but rest assured they are spending your money wisely by giving it to any... Tom ..Dick or Harry who happens to walk into the country and hold out his hand....
if you were not in debt you would lose the incentives to ''work'' so to insure you always work the government will juggle the '' interest rate '' with the help of the banks to insure that any disposable income you have is recirculated into the economy... houses are a big problem for governments they tie up large quantity of the economy and allows the average working person to accumulate large quantities of asset that can be liquidated readily without paying interest to the government.. this upset their books and in a few years' time governments will stop you passing on your property without paying some heavy duty... probably 50 per cent in the tax... in short you are a slave to the economy..!!
but rest assured they are spending your money wisely by giving it to any... Tom ..Dick or Harry who happens to walk into the country and hold out his hand....
Quote by HornyRed
The advice to save for our pensions is certainly good advice but we can already see the first steps towards them abolishing the idea of people retiring at 65/70 but working till you drop dead lol lol
Couldnt agree more, i think we forget sometimes that goverments only work for the short term. (
5 years)Retirement age being 65/70++ will happen, what a bloody depressing thought :? Not for me if i can help it :shock:
Giving people choices :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao:
H, red x
As a nation we spend approximately £110 for every £100 we earn. Personally I spend about £85 for every £100 I earn (before tax) I earn substantially less than the national average and am saving for my own retirement. I never scrimp, but I am very careful with what I spend my money on.
I have several plans in effect for my retirement, the most conservative of which is for me to retire at the age of 57, on my final salary. These plans ignore totally the value of my home and of a pension I took out about 10 years ago and still contribute to.
All of this has come into effect since splitting from my wife and getting divorced when I was 29, I am now 32. My strategies have come from several places, the most useful 2 places have been and
Hope this helps someone.
Chris
PS It's nothing to do with the government, the debt-card companies, the way my parents brought me up. It's all about MY attitude and MY self discipline. I want things, I want them now. I just know that I have to wait and save instead.
