Lots of money how?
Discussion
Been browsing the classified section once again, looking at 20k plus cars, and just wondering how an average person affords something of that value.
I have not made the best decisions in life, I'll be 29 in a few months and I earn very little doing a nothing job after leaving college and joining the world of work at 17. Had a few jobs, all with a salary of around 13-15k. I own my own house, with a small(ish) mortgage, which I only managed to get thanks to an inheritance from my granny when she died, and my GTA, which to be fair costs a bit to run. I have no kids, so no drain on my finances, but I barely have enough money at the end of the month.
So come on, what's the secret, you can't all be earning 50k - 100k or more, but lots of people drive round in 20k plus cars, have a nice house etc, how do you do it?
I have not made the best decisions in life, I'll be 29 in a few months and I earn very little doing a nothing job after leaving college and joining the world of work at 17. Had a few jobs, all with a salary of around 13-15k. I own my own house, with a small(ish) mortgage, which I only managed to get thanks to an inheritance from my granny when she died, and my GTA, which to be fair costs a bit to run. I have no kids, so no drain on my finances, but I barely have enough money at the end of the month.
So come on, what's the secret, you can't all be earning 50k - 100k or more, but lots of people drive round in 20k plus cars, have a nice house etc, how do you do it?
S10 GTA said:
eldar said:
Wrong job.
But not everyone is in well paid jobs, yet I still see them having a comfortable lifestyle.I suppose I am paying a mortgage by myself, its not split between two.
Lots of people with nice houses and small mortgages are just lucky that they were born in a particular decade. Naff all to do with what they earn, lots to do with run-away house price inflation in the last 10-15 years.
Some of them have been dipping into their housing equity and spending it on cars.
As others have said, leasing, company cars play a part too.
Also, some people are rolling in it.
Some of them have been dipping into their housing equity and spending it on cars.
As others have said, leasing, company cars play a part too.
Also, some people are rolling in it.
Specialise in one area, either get employed in well paying job which needs your skill or start own business. Personally I have well paid job, big house, no loans, no credit card, large mortgage, large nursery bills, expensive hobbies.
You spend what your earn unless you can work it so you have a large surplus of cash by either landing on your feet, being brilliant at what you do , taking risks , or inheriting
You spend what your earn unless you can work it so you have a large surplus of cash by either landing on your feet, being brilliant at what you do , taking risks , or inheriting
To be fair or unfair depending on how you see it, the vast majority of people with nice cars earn more than you, the average wage is a lot higher than yours, so that probably helps.
I wouldn't wonder too much as it's mostly down to you earning not a lot sadly. Having said that, lots of people lease
I wouldn't wonder too much as it's mostly down to you earning not a lot sadly. Having said that, lots of people lease
You may not realise it but you're in a good position. You don't owe very much, you appear to have an easy going job, earn enough to own a fun car... It's not a lifestyle many people dream of, but there's no stress by the sounds of it and you're a free agent.
Being mortgaged and credited to the hilt to be able to afford a 'nicer' house and a 'better' car can't be fun IMO, it just adds pressure and stress surely, especially with the country slowly going tits up. Plus you lucked into being able to buy a majority stake in your house: compare that to a friend of mine who's 37, shares a house with 3 other people, and can't afford a car, holiday, new laptop etc etc.
Owning things like your car outright is infinitely better than buying them with someone else's money then paying back more than it cost
Being mortgaged and credited to the hilt to be able to afford a 'nicer' house and a 'better' car can't be fun IMO, it just adds pressure and stress surely, especially with the country slowly going tits up. Plus you lucked into being able to buy a majority stake in your house: compare that to a friend of mine who's 37, shares a house with 3 other people, and can't afford a car, holiday, new laptop etc etc.
Owning things like your car outright is infinitely better than buying them with someone else's money then paying back more than it cost
I find that the cars people own are not generally a good barometer of their wider wealth.
I know of (for example) a retired millionaire with a six-figure pension who drives a 4 year old Citroen C4. I also know some trendy young things on the edge of bankruptcy with two shiny status symbols on the drive.
I know of (for example) a retired millionaire with a six-figure pension who drives a 4 year old Citroen C4. I also know some trendy young things on the edge of bankruptcy with two shiny status symbols on the drive.
I've never really worried too much about what others had is a 'how the hell can he afford that?!?' busy-body sort of way- the sort of attitude I had when turning up at work in an RX8. A friend of ours is always going on lavish holidays, wear expensive designer clothes, always out getting drunk/eating in expensive restaurants etc- they earn a fair bit, but are always saying that they would trade all that to have what I have- a nice modest house, wife and a baby.
That said, I have recently been looking at £20-30k cars and trying to figure out how to do it, and I've come to the conclusion that unless I wait 5 years and save up, I will have to do it partially on finance. I don't have much objection to this, as the sorts of cars I was looking at are not the sort that will be worth 1/3 of their value any time soon (most are over 10 years old).
Just worry about what you have, you haven't done badly at all!
That said, I have recently been looking at £20-30k cars and trying to figure out how to do it, and I've come to the conclusion that unless I wait 5 years and save up, I will have to do it partially on finance. I don't have much objection to this, as the sorts of cars I was looking at are not the sort that will be worth 1/3 of their value any time soon (most are over 10 years old).
Just worry about what you have, you haven't done badly at all!
Leasing, credit, releasing equity from their house, well paid job, company car, they're loaded, their family is loaded, etc etc.... the list goes on...
...trying to keep up, that comes with a financial health warning
Some can afford it, many can't; quite a lot don't realise they can't, earn £25K, but live a life based on the maximum they can borrow, and then some... nothing wrong with borrowing a load of cash to do something you want to, but it's all about affordability.
There, that's my 2p's worth for this evening. Now, making more money.... well, it's certainly more difficult that borrowing it(!)
...trying to keep up, that comes with a financial health warning
Some can afford it, many can't; quite a lot don't realise they can't, earn £25K, but live a life based on the maximum they can borrow, and then some... nothing wrong with borrowing a load of cash to do something you want to, but it's all about affordability.
There, that's my 2p's worth for this evening. Now, making more money.... well, it's certainly more difficult that borrowing it(!)
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