Tips for being less crap with money?
Discussion
95JO said:
London - The introduction of the LISA helps, massively. Even more so, utilising a S&S LISA to hopefully build it up faster (depending on how risk averse you are).
Admittedly, buying a home as an individual is obviously more difficult than buying with a partner/friend...
That's what gets me with peers in my local area, house prices are shockingly cheap, some terraces are even £40k... How, as a couple in full-time employment, even earning the minimum wage, can you not jointly afford a £2k deposit for a house like this?
We saved into the LISA then lost 5k when we had to up our offer above 450k :-(Admittedly, buying a home as an individual is obviously more difficult than buying with a partner/friend...
That's what gets me with peers in my local area, house prices are shockingly cheap, some terraces are even £40k... How, as a couple in full-time employment, even earning the minimum wage, can you not jointly afford a £2k deposit for a house like this?
Benbay001 said:
How are there people here suggesting they needed a £40k deposit for their first home?
There are 5% mortgages out there, so youre either a very very high earner or you are trying to buy far too much property.
Its a first home FFS its not meant to be glamorous.
I type this from the lounge of my first home. Its a small 1 bed flat, with 3 rooms which had no heating when i first moved in.
Ive now had a year and 5 months of paying off my mortgage rather than someone elses. Maybe in two years time I can look to move on to somewhere bigger.
Expectations is the key to the lack of affordability.
Everyone wants their first home to be like the home they grew up in.
Compounded by everyone renting a big place like the one they grew up in, and then wondering why they have no money each money to save for a deposit.
If you cant set aside £200 per month on a salary of £20k, then you are spending too much its that simple.
London is very expensive. Our first home in an unfashionable Zone 4 SE London is 460k. Plus fees, stamp duty etc.There are 5% mortgages out there, so youre either a very very high earner or you are trying to buy far too much property.
Its a first home FFS its not meant to be glamorous.
I type this from the lounge of my first home. Its a small 1 bed flat, with 3 rooms which had no heating when i first moved in.
Ive now had a year and 5 months of paying off my mortgage rather than someone elses. Maybe in two years time I can look to move on to somewhere bigger.
Expectations is the key to the lack of affordability.
Everyone wants their first home to be like the home they grew up in.
Compounded by everyone renting a big place like the one they grew up in, and then wondering why they have no money each money to save for a deposit.
If you cant set aside £200 per month on a salary of £20k, then you are spending too much its that simple.
Edinburgh was also expensive, but the biggest problem was lenders would only lend to home report value and most went over. So 200k flat, sold for 230k - you needed deposit plus fees plus 30k.
Jon39 said:
I am puzzled about this paid for service.
What are the advantages/benefits of Spotify at (is it) £120 annually? I really don't know.
I presume the completely free alternative, is a couple of clicks to download each of your favourite recordings (without adverts), then listen to your library of chosen songs, on any device you wish, at any time.
Convince me that I should pay for the Spotify service, because I thought I already had almost unlimited music.
Bussolini said:
Benbay001 said:
How are there people here suggesting they needed a £40k deposit for their first home?
There are 5% mortgages out there, so youre either a very very high earner or you are trying to buy far too much property.
Its a first home FFS its not meant to be glamorous.
I type this from the lounge of my first home. Its a small 1 bed flat, with 3 rooms which had no heating when i first moved in.
Ive now had a year and 5 months of paying off my mortgage rather than someone elses. Maybe in two years time I can look to move on to somewhere bigger.
Expectations is the key to the lack of affordability.
Everyone wants their first home to be like the home they grew up in.
Compounded by everyone renting a big place like the one they grew up in, and then wondering why they have no money each money to save for a deposit.
If you cant set aside £200 per month on a salary of £20k, then you are spending too much its that simple.
London is very expensive. Our first home in an unfashionable Zone 4 SE London is 460k. Plus fees, stamp duty etc.There are 5% mortgages out there, so youre either a very very high earner or you are trying to buy far too much property.
Its a first home FFS its not meant to be glamorous.
I type this from the lounge of my first home. Its a small 1 bed flat, with 3 rooms which had no heating when i first moved in.
Ive now had a year and 5 months of paying off my mortgage rather than someone elses. Maybe in two years time I can look to move on to somewhere bigger.
Expectations is the key to the lack of affordability.
Everyone wants their first home to be like the home they grew up in.
Compounded by everyone renting a big place like the one they grew up in, and then wondering why they have no money each money to save for a deposit.
If you cant set aside £200 per month on a salary of £20k, then you are spending too much its that simple.
Edinburgh was also expensive, but the biggest problem was lenders would only lend to home report value and most went over. So 200k flat, sold for 230k - you needed deposit plus fees plus 30k.
romeogolf said:
rockin said:
romeogolf said:
Where is this infinite source of free music?
YouTube.That can't be illegal - can it ?
Robertj21a said:
But surely you don't have to *download* Youtube audio, you can just go into the site again whever you want ?
That can't be illegal - can it ?
Not illegal, obviously. But it's certainly not practical for a few reasons:That can't be illegal - can it ?
1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
Le-Mons said:
Overall, I just need to be stricter with myself. Multiple little purchases on Amazon etc add up, as do lunches and the occasional breakfast.
That’s where you need to focus I reckon.I know my monthly committed spend is well under half my take home, but wound up wondering how the flink don’t I have a decent amount to put away at the end of the month.
Spreadsheet + credit card bill + every receipt in my wallet. Log everything couple of times a month so it’s not such a huge task at month end.
Once you break it down and categorise it that way, you realise just how much you are hosing away on lunchtime trips to the shop, centre aisle purchases in Lidl (probably my biggest problem) that are only ever under twenty quid, car cleaning bits and bobs.
95JO said:
Not illegal, obviously. But it's certainly not practical for a few reasons:
1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
How did earlier generations cope without an always available online streaming service? We created our own playlists, either on a cassette or as a folder of MP3s. Some of us even listened to the radio!1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
alock said:
95JO said:
Not illegal, obviously. But it's certainly not practical for a few reasons:
1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
How did earlier generations cope without an always available online streaming service? We created our own playlists, either on a cassette or as a folder of MP3s. Some of us even listened to the radio!1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
I must admit, I detest the radio... The fact that you have to listen to adverts, presenters talking s
t and having absolutely no choice in the music you're eventually going to listen to - It's a no from me.95JO said:
Robertj21a said:
But surely you don't have to *download* Youtube audio, you can just go into the site again whever you want ?
That can't be illegal - can it ?
Not illegal, obviously. But it's certainly not practical for a few reasons:That can't be illegal - can it ?
1) Adverts
2) Can't lock your phone/go off the YouTube app (imagine doing this whilst driving for example)
3) Data usage (can't listen/watch offline)
4) Battery usage (increased due to streaming a video)
The best advice I was given, was to put a couple of hundred quid in an ISA, on pay day, each month. If you put it straight away, you can’t then spend it. In a year, you’ve saved a fair chunk, you get interest on it, and it’s not felt like you’ve made any effort. Just cut your cloth accordingly each month, and it’s a shock how quickly it mounts up.
alock said:
How did earlier generations cope without an always available online streaming service? We created our own playlists, either on a cassette or as a folder of MP3s. Some of us even listened to the radio!
I imagine they coped very similarly to how the previous generation to yours coped with traveling to work on a horse and cart.It also helps to strictly treat your current account as your bottom line once you've moved any savings into other accounts at the start of the month.
I have £75 ish to last me til payday at the end of this month, so i'm basically skint... but I have about £4k in two savings accounts.
When I first started saving I was pretty bad at dipping into the savings pots towards the end of the month to top up my current account... it's taken this switch in mentality to basically act as if those accounts aren't there.
Obviously emergencies come up, and that's a different thing... but if you keep the mindset of only having what's in your current account available to you, it helps train the brain a bit and protect your savings.
I have £75 ish to last me til payday at the end of this month, so i'm basically skint... but I have about £4k in two savings accounts.
When I first started saving I was pretty bad at dipping into the savings pots towards the end of the month to top up my current account... it's taken this switch in mentality to basically act as if those accounts aren't there.
Obviously emergencies come up, and that's a different thing... but if you keep the mindset of only having what's in your current account available to you, it helps train the brain a bit and protect your savings.
designforlife said:
Ads basically, the paid service eliminates them.
Also on mobile devices on the paid version you get unlimited song skips.
That's about it tbh.
Plus, off the top of my head...Also on mobile devices on the paid version you get unlimited song skips.
That's about it tbh.
Unlimited personal playlists
Ability to download music to your device to listen offline so you don't use data when out and about
Mobile listening not just on shuffle mode, so you can listen to albums in order etc, which you can't on the free version (though you can for free on the desktop version!).
designforlife said:
It also helps to strictly treat your current account as your bottom line once you've moved any savings into other accounts at the start of the month.
That's exactly what I do.Spend what's left over after saving, not the other way around.
Remove main savings elsewhere at the start of the month - it helps if they're not too easily accessed - then transfer an amount for mortgage, bills & emergency savings via standing order to the Joint Account.
Finally, a separate easy-access savings account into which I tip an amount for misc/car/holidays/fun - it'll rise & fall over the year, but usually a surplus accrues each month so things like household emergencies, insurance, holidays etc. can be funded without pain or need to raid the main savings. Anything left over at year-end is treated as fun money that has been properly saved, and therefore spent on something fun for myself without feeling guilty.
Taking the time once in a whilst to nail-down utilities, mortgage deals, subscriptions etc. is also essential, as is understanding how coffees, eating out etc. can all hemorrhage serious amounts of money over a year.
I appreciate that not everyone is in a position to save as much as they'd like, but the 50/30/20 rule is a half-decent guideline for how to cut your cloth accordingly - 20% of income to savings, 50% to necessary bills & 30% to spend on living your life/fun.
Benbay001 said:
alock said:
How did earlier generations cope without an always available online streaming service? We created our own playlists, either on a cassette or as a folder of MP3s. Some of us even listened to the radio!
I imagine they coped very similarly to how the previous generation to yours coped with traveling to work on a horse and cart.alock said:
Benbay001 said:
alock said:
How did earlier generations cope without an always available online streaming service? We created our own playlists, either on a cassette or as a folder of MP3s. Some of us even listened to the radio!
I imagine they coped very similarly to how the previous generation to yours coped with traveling to work on a horse and cart.I have Amazon prime student (£3-£4 per month) which includes Prime Music.
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