Live within your means!

[The Samaritan]

Her response - well, my car and phone are better.
How so?
Because they cost more, obvs!

Afiat a "better car" than what, a dustbin

Sadly, the person you refer to is a typical hand to mouth example of Great brtitian. As soon as something goes wrong and it does not have to be a lot, Eg reduction in the overtime etc, they go belly up and back in mums council flat or her dad's council flat.

I blame the parents for not educating their sprogs about learning to walk before you can run..


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[JP_]

I blame the parents for not educating their sprogs about learning to walk before you can run..

I don't think you can always blame parents. It is the environment in which we live that is the problem.

 

[Mottie]

If it dies I'll be forced to replace it but won't be spending any more than circa £17k on its replacement. Not pennies granted, but the intention will be to run the replacement for another 10-15 years

You'll be lucky. Modern cars are like modern boilers. You won't get 15-20 years out of a new one like you did the old one!

 

[Mottie]

Via my previous job I often noted those on the lowest income often benefits had at least one dog and often more and if not a dog, several cats.
now I don't know the cost of dog/cat food and vet bills but as I've said before people should go through tests to see if they are fit for the purpose and affordability.

FFS give it a rest. We get it, you don't like dogs and are frightened of dogs. Fact. Change the record.

 

[fillyboy]

I started out with nuthin, an I've still got most of it left.

 

[The Samaritan]

I don't think you can always blame parents. It is the environment in which we live that is the problem.

The vast majority of the time, I can blame them.

The majority of kids will follow their parent/s footsteps, EG, smoking, workshy, keeping dogs, violence, thuggery, living of the back of others, etc,etc.

It works the other way as well, parents well to do, educated, work ethics, living in own property, not living hand to mouth etc, most kids will follow that life style.

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[ReganAndCarter]

Get your facts straight before you post misinformation.

Oh the irony!

Told off by a wacko fruitcake who sometimes claims to be male , other times to have a husband. Then there's the fabulous bs Rooney lifestyle of someone who often seems to be barely literate or poss too sozzled to type straight from the comfort of their bedsit. Fact.

How straight were your facts when you claimed someone was trying to start a war in Ukraine, but it wasn't Russia? Get your facts straight before you post misinformation, love/mate.

 

[Keithmac]

We own our own car, sofa is probably 8 years old and still in good condition.

Don't normally spend money on anything we don't need (apart from Birthday and Christmas presents).

We did buy a Caravan on credit but that was for us to enjoy our holidays with, so a good investment.

We don't go mindlessly shopping on a weekend spending money we don't have, neither me, my wife or children are really money/ possessions oriented.

I can see there are some benefits to leasing a car but I could never pay money into something I will never own (same as renting a property..).

 

[motorbiking]

People living beyond their means, drives inflation and eventually a recession when suddenly, a large portion of those who cannot sustain their lifestyle go bust.

There is nothing wrong with "Servitisation" as a way providing a product to the consumer. i.e. instead of buying and running a car, you pay per use as part of a lease.

 

[kingandy2nd]

Cars are an interesting one.

I’ve always bought my cars. First new, then after I realised the depreciation hit is terrible for new motors, I started buying 1 year old cars.

Last two have been a Seat Leon, then a Volvo V40. Both were kept for around 5 years.

Working out the costs of the car, depreciation, repairs, servicing and consumables, they were costing about £350 a month to run over their life. I could have leased an equivalent new car for than money, and not had to worry about possible breakdowns/repairs, etc.

So there is some merit to leasing as you actually end up with a better car and less hassle without ever owning it.

Admittedly if I’d kept either car and ran them into the ground entirely, I would have save a lot more over leasing, but both cars were getting tired towards the end of their life and could have let me down/left with a big bill at any time.

That being said, the Leon passed its MOT a couple of months back and now has 171k miles on the clock (14 years old)…so it’s still going strong for someone!!

 

[Notch7]

Can you choose which home you go to? I mean, if you choose a decent one, £86k means you'll only pay for your first year and a half so I wonder if they downgrade you when you've spent the max?

social services only pay something like £600 or so a week which is less than it costs

what happens is that care homes often have a mix of privately funded and state funding -the privately funded ones pay even more to subsidise the loss.

Also decent care homes often wont accept residents unless they can prove they have sufficient funds for 3 years.

 

[Notch7]

Cars are an interesting one.

I’ve always bought my cars. First new, then after I realised the depreciation hit is terrible for new motors, I started buying 1 year old cars.

Last two have been a Seat Leon, then a Volvo V40. Both were kept for around 5 years.

Working out the costs of the car, depreciation, repairs, servicing and consumables, they were costing about £350 a month to run over their life. I could have leased an equivalent new car for than money, and not had to worry about possible breakdowns/repairs, etc.

So there is some merit to leasing as you actually end up with a better car and less hassle without ever owning it.

Admittedly if I’d kept either car and ran them into the ground entirely, I would have save a lot more over leasing, but both cars were getting tired towards the end of their life and could have let me down/left with a big bill at any time.

That being said, the Leon passed its MOT a couple of months back and now has 171k miles on the clock (14 years old)…so it’s still going strong for someone!!

Ive never been able to bring myself to get a new car on a lease, although you are right, it does make economic sense

In my mind I like the idea of owning a car outright, then I have no future debt to service and no future liability

 

[Notch7]

Via my previous job I often noted those on the lowest income often benefits had at least one dog and often more and if not a dog, several cats

yes poor people get their comforts from animals, or smoking or drink

doesnt mean they are bad people, you need to stop judging

 

[Notch7]

Yeah it's crazy, they reckon a significant % of new cars we see on the road are leased. Each to their own I suppose, again for me it depends on things like overall income. Using that specific example (cars) my current one is a 2008 plate. I'm hardly using it due to WFH and generally not having much of a social life these days! If it dies I'll be forced to replace it but won't be spending any more than circa £17k on its replacement. Not pennies granted, but the intention will be to run the replacement for another 10-15 years

years ago my parents had a neighbour always got a new car every 3 years, once she told me she only worked to pay for the cost of it.

 

[Notch7]

Mrs Motties mum is the same as the OP. A lifetime of frugality has left her with a 4 bed detached house and literally hundreds of thousands of pounds in savings yet she still shops in the cheapest food stores, turns the heating off if she as much as feels a bit of warmth from a radiator (and wears a coat indoors), rarely spends more than a fiver on an article of clothing and even though she is in her eighties, she is racking up savings at an alarming rate in her current account with her state and private pensions. I'm pretty sure she'll die cold and hungry.

she grew up in the post war period, a time of rations

you wont change her now!!