I am at a loss.

I have a secure job paying 22 - 24K per annum.
Partner has part time job....around 5K per annum.
1 child
1 oldish car
1 old caravan
......so may people seem to be able to buy new cars. I'm not particularly materialistic, I'd just like to be able to think about a new car / caravan.

So many people seem to have the latest model things...am I missing something, or are most people paid considerably more than me......just wondering!!!!!

They will be in credit upto their pre-molars mate.

Not a good place to be in these days ;)

I think that you'll find that many people who appear to be well off, have mountains of debt.

Of course if you or/and your partner smoke, then that will considerably add to your lack of income. My boss alone spends around 3 grand per year on B&H fags.

well your paid about 10 grand more then i have ever been

be thankfull for what youve got id say!!

be thankfull for what youve got id say!!

too right , some of us are unemployed and can't even claim benefits :mad:
youre more well off than millions of people , what difference would a new car really make . at least you have a car. and a caravan . and a family. and a job that pays you what many could only dream of.

We have two newish cars and we didn't pay by cash!

Don-Kiddick i think has it right for a lot of people

Someone I work with has a brand new car. She also admitted to me that she'd had trouble getting a mortgage because of CCJs against her and her husband. Didn't stop someone giving them a mortgage eventually and it didn't stop someone agreeing credit to buy a brand new car :confused:

It's scary how much debt people get themselves into, and it's even scarier that there are so many companies around willing to help them get into that debt. It seems the days are gone when if you wanted something you saved and saved until you had enough to buy it outright.

Originally posted by muddycoffee
My boss alone spends around 3 grand per year on B&H fags.

About 30 a day?

Originally posted by banesmabes

It's scary how much debt people get themselves into, and it's even scarier that there are so many companies around willing to help them get into that debt. It seems the days are gone when if you wanted something you saved and saved until you had enough to buy it outright.

Most banks (and PLCs that seem to be banks but aren't) will give anyone a loan these days provided the borrower takes on a hefty repayment protection policy.

Bank employees are under considerable pressure to meet silly targets for selling these policies, 'cos the banks make loads of dosh out them, - and you can't sell a policy without granting a loan.

Sadly the whole system is a house of cards that could come crashing down at anytime and cause untold misery when it does. :mad:

I often wonder the same when people go on holiday with all the family abroad - it must cost an absolute fortune!

But if you add up what stuff costs then it's shocking. if you ahve one night out per week at say £30 (beer, something to eat, maybe a club, a taxi, or maybe just beer) then that's over £1.5k, and if you have two nights out like most younger people then you're looking at £3k per annum. 20 cigs a day equals £1.5k, and your dinner at work? £500. The same for weekly bus passes. That's £6.5k already. Weekly shopping, £50 a head - £2,600. Rent or mortgage - £5 to £8k. That cost is one of the major reasons I gave up drinking. But now I feel like one...

Christ I feel miserable now. :(

Originally posted by zombiekillah
too right , some of us are unemployed and can't even claim benefits :mad:


:o soz - off topic, How you gettin by???? :(

Some people may have super car, house, holiday etc, but will probably be super in debt. They also may not be super happy....

I'd take a look at your day to day stuff as someone's said, and maybe you can make savings?? Stupid things like lunches at work, changing gas/elecricity supplier, the kind of meals you cook at home, the stuff you do in free time for free/fee. Sometimes you need to begin with the basics.

Debt is cheap apparently, until it catches you up.

Iam thankful for what I've got. I have been unemployed some time ago, I know what it is like to be worrying whether I will have enough to buy some veg...but the point I was trying to make, I suppose, in a rather clumsy way is how do people on fairly average incomes seem to posess such expensive items. I have access to hell of a lot of credit (I already have some debts, mortgage, credit card.) But I nkow it would be daft to borrow as much as I could. Incidentally, I don't smoke and rarely drink. My vice I suppose is the odd DVD and books, oh and caravaninng, although this is is a fairly economical way to holiday, unless you buy a brand new van.......Really, I was just musing as I see lots and lots of shiny new cars on the road and just wonder what all these people must do for a living!

One of the most useful things I ever heard was "Whenever you see the word 'Credit', replace it with the word 'Debt'.

That brings you up sharp, and is a reminder of what it is you're actually doing when you accept credit - you're taking on debt. :(

It seems to me that today in this country much of the economy relies on the majority of people buying stuff/getting by on credit.

And so many people seem to be in debt up to their necks. Where's it all going to end? :help:

StarSparkle

Originally posted by cloud
Really, I was just musing as I see lots and lots of shiny new cars on the road and just wonder what all these people must do for a living!

I've often wondered that too, Cloud!

I think it used to be a lot of the new cars on the road were company cars. Don't know about today as there are less of those around, I believe - think it must be down to credit (debt!)

StarSparkle

It took me a long time to realise that you don't need all the fancy stuff to enjoy life. What you do need is the ability to live within your means.
The credit card is the biggest cause of bankruptcy in the world. It is run by people who by any other name would be called loan sharks, and usurers.
You have a car that runs, a roof over your head that you can afford, even a little caravan which gives you a chance to get out of town once in a while. Be content!
A fancy car is merely a sop for people who need to show off, because they lack the personality to do it on merit.
If you aspire to something better, try saving and working to that end, you'll feel great when you achieve it, and won't have to worry about the repo man out there longing to take it away from you.

Originally posted by StarSparkle
One of the most useful things I ever heard was "Whenever you see the word 'Credit', replace it with the word 'Debt'.

That brings you up sharp, and is a reminder of what it is you're actually doing when you accept credit - you're taking on debt. :(

It seems to me that today in this country much of the economy relies on the majority of people buying stuff/getting by on credit.

And so many people seem to be in debt up to their necks. Where's it all going to end? :help:

StarSparkle

What wise words...:D

I work as a Debt Management Advisor and when I do Income and Expediture reports with clients I am surprised some even manage to sleep at night!!

Some see equity in their property as a licence to spend!! Ridiculous way to manage money!

Ignore the Jones's of the world is my motto...not worth the aggro!

:D

Originally posted by cloud
Iam thankful for what I've got. I have been unemployed some time ago, I know what it is like to be worrying whether I will have enough to buy some veg...but the point I was trying to make, I suppose, in a rather clumsy way is how do people on fairly average incomes seem to posess such expensive items. I have access to hell of a lot of credit (I already have some debts, mortgage, credit card.) But I nkow it would be daft to borrow as much as I could. Incidentally, I don't smoke and rarely drink. My vice I suppose is the odd DVD and books, oh and caravaninng, although this is is a fairly economical way to holiday, unless you buy a brand new van.......Really, I was just musing as I see lots and lots of shiny new cars on the road and just wonder what all these people must do for a living!

if that is a fairy average income.....well...we are worlds apart... i did a job i hated for about 12 grand.... im training to hopefully get 20 grand plus at something i enjoy. maybe you need that tv show to come in and sort out ur finances...coz god knows where all your money goes!!

there was a girl on that tv show about kids spending money and then revealing to parents how much they owe...some were 30grand and they had sporty porshe cars etc... lots of people with flash things are either...rich, stupid or criminals lol

Originally posted by cloud
I am at a loss.

I have a secure job paying 22 - 24K per annum.
Partner has part time job....around 5K per annum.
1 child
1 oldish car
1 old caravan
......so may people seem to be able to buy new cars. I'm not particularly materialistic, I'd just like to be able to think about a new car / caravan.

So many people seem to have the latest model things...am I missing something, or are most people paid considerably more than me......just wondering!!!!!
29 grand a year,come off it,my income is half that .We seem to get by ok..its called living within your means.Im sure a lot of people would love to have anywhere near that income ....Make a note. Must remember to ask boss for a rise..mmmm:rolleyes:

Originally posted by Draggletail
About 30 a day?

Lord no, he smokes between 80 and 100+ every day 7 days a week, but I have no idea how much fags are.

Originally posted by Shiesh
What wise words...:D


Cheers, Shiesh :thumbsup:

StarSparkle

Originally posted by Mathom
But if you add up what stuff costs then it's shocking. if you ahve one night out per week at say £30 (beer, something to eat, maybe a club, a taxi, or maybe just beer)
I'm sorry but which planet do you live on? £30 for a good night out?
If I go to town It costs me a max of £25, if I stay in woodseats or heeley, more like £12, and believe me I drink like a fish.

Yes he does....Guiness too!

:P

I agree with the living within your means bit....

Gotta say - everyday I see cars driving in and out of my estate, BMW's, a nice new merc, etc.

And I too wonder - what do these people do for a living? Especially the one's where they have two really nice cars and the wife is at home looking after the kids, that means the bloke must be on a good earner.

Maybe some of them made money with the housing boom and don't have big mortgages (lucky them), maybe they have inherited some money? and maybe they are in megga debt.

I'm not complaining about what i've got, i'm really lucky (for the first time in my life). We're a one car family (an oldish car at that) and we make ends meet (hubby is very careful with money and won't get into debt).

Doesn't stop me wondering what some of these people do for a living though?

Originally posted by Don_Kiddick
:o soz - off topic, How you gettin by???? :(

lol im not really. lucky i have a really nice mother but shes just been stung out of a house and out of 2 grand of overpaid child benefit from the last few years but thats a different story. moving out in a week argh. sold a lot of my stuff on ebay to get a bit of cash but im running out of stuff but doing a carboot soon so hopefully i can eat and have electricity in me new place :clap:

That's an OK income, just because people have newish cars doesn't mean they 'own' them rather pay for them several times over with finance co's...

I take great pride in not consuming, but put money into things that will go up in value over time...People that judge you by the stuff you have are really not worth knowing.

Originally posted by dudu
That's an OK income, just because people have newish cars doesn't mean they 'own' them rather pay for them several times over with finance co's...

I take great pride in not consuming, but put money into things that will go up in value over time...People that judge you by the stuff you have are really not worth knowing.
Absolutely right, there are far too many 2 bob millionaires around today. "Look as me, but don't look at my credit card debt".

Originally posted by muddycoffee
I'm sorry but which planet do you live on? £30 for a good night out?
If I go to town It costs me a max of £25, if I stay in woodseats or heeley, more like £12, and believe me I drink like a fish.

LOL - and I wonder what planet you're living on! I rarely go out into town for a night out because it is so expensive - usually around £40 for a good night, and I don't think I'm being particularly extravagent when I do go out. I have friends who think nothing of spending £100 every Saturday night. Now I really don't know how they can afford that!

a friend of mine always said " 2 cars on the drive & f*** all in the fridge".

unfortunately in general it is a material world,however how people afford things varies.

i know numerous self employed people who buy new cars annually to remove the tax burden or get paid cashi in hand so they have nothing to declare.
i personally finance one of my cars & with low interest rates that is a popular way & is the main reason why many new drivers opt for new cars instead of old runarounds.
lots of people live at home for longer therefore allowing provision of a "nest" egg ready for setting up home.

i left home @ 16 str8 into mortgages/debt etc, a pal of mine has only just done it @ 32 (big bank balance),

Originally posted by willman
i left home @ 16 str8 into mortgages/debt etc, a pal of mine has only just done it @ 32 (big bank balance),

I thought I'd cracked it when I was 30 and finally paid off my Barclaycard, that I'd had since I was 18.

Then I got a mortgage instead.

You're born, you run up debts, you die.

That's modern life.

I think there are many people out there who are in debt up to their necks..... they must be.

How people afford to buy houses nowadays is beyond me.

The banks will lend you ANYTHING these days. Its hillarious. They offered me 5.2 times my wage. I borrowed nearly all that and bought a house - but the house should be worth the same as the mortgage give or take a bit. If I did buy a car I wouldn't even consider credit because you lose so much money on the car in such a short time. Not a worthwhile investment.

This thread is making me feel bad!!

I'm 20 and I earn a couple of £K short of what cloud does p.a.

I live at home with parents, drive a decent enough car, don't smoke and don't drink during the week.

BUT.. I'm guaranteed to have only a few quid left in the bank at the end of the month.. Where does it go?!

I suppose, on average, my weekends cost me around £140 each (£50 - £60 per night out + take-aways).. Thai boxing amounts to about £80 a month, phone bills of around £100 a month and too many clothes for a young lad!

I just find it hard to put cash aside in a savings account every month.. Any tips?!

Gaz

:rolleyes: Yes it is the people who are never short of money at any stage in the month that are the ones with the most credit cards, the jobs in Sheffield do not link up with the cars people are driving so they must be in debt

Originally posted by GazB

I just find it hard to put cash aside in a savings account every month.. Any tips?!
Gaz

Don't rely on your own will power to put money in the savings account, - do it by standing order during the first few days in the month. then spend what's left in the current account and not a penny more !! ;)

Have always thought it a it silly to buy a new car unlessyou can set the depreciation off against tax. Spend £12k on a new car, drive it home and you're lucky if it's worth £10k when you get there. :loopy:

Originally posted by cloud
Iam thankful for what I've got. I have been unemployed some time ago, I know what it is like to be worrying whether I will have enough to buy some veg...but the point I was trying to make, I suppose, in a rather clumsy way is how do people on fairly average incomes seem to posess such expensive items. I have access to hell of a lot of credit (I already have some debts, mortgage, credit card.) But I nkow it would be daft to borrow as much as I could. Incidentally, I don't smoke and rarely drink. My vice I suppose is the odd DVD and books, oh and caravaninng, although this is is a fairly economical way to holiday, unless you buy a brand new van.......Really, I was just musing as I see lots and lots of shiny new cars on the road and just wonder what all these people must do for a living!

i suppose you should also bear in mind that some jobs come with a car, that means a brand new car every 3 years (or similar). You do pay for that car, but not in the same way.

Also, you are virtually in a single income household and only earning around the average wage.
In order for that to be average roughly 50% of people must earn more than you. And many households are dual income.

Without getting into specifics both myself and my SO earn more than you, we have no children, no expensive habits to support and apart from mortgage are virtually debt free.
So if I really wanted too I suppose I could head over to Synters and come home with a new bmw tomorrow.
I won't, I've got better things to spend my money on, but I guess that's all about priorities.

Originally posted by Greybeard
Don't rely on your own will power to put money in the savings account, - do it by standing order during the first few days in the month. then spend what's left in the current account and not a penny more !! ;)

Sounds like a plan.. I'll start after xmas :D

New cars have come down in price a lot recently, you can get a brand new Clio for just over £6000.

Originally posted by alchresearch
New cars have come down in price a lot recently, you can get a brand new Clio for just over £6000.

But you'll still have lost aout £1k, compared to buying a nearly new model.

Wonder how many people would bother with new cars if the year of registration was taken out of the registration number. ;)

Originally posted by Greybeard
Wonder how many people would bother with new cars if the year of registration was taken out of the registration number. ;)

I think the main reason people buy private number plates is so you can't tell how old their car is.

we bought ourselves two new cars 2 years ago, theycame , along with a total of 6 years of car payments, couldn't realy afford to keep our old cars running much longer, we were forever putting money into keeping them road worthy, last one that went was a 17 year old van, i intend to keep these new ones running that long.

hated to buy new, as we're not car people, could care less what we drive, but we needed something we could depend on for the next few years being seniors now, inted to drive these into the ground or grave, whichever comes first

:|

mainly dodgy people who drive the newer and better cars

Originally posted by muddycoffee
I'm sorry but which planet do you live on? £30 for a good night out?
If I go to town It costs me a max of £25, if I stay in woodseats or heeley, more like £12, and believe me I drink like a fish.

:D Well I used to live on Planet Whisky in the Stella Galaxy, but now I'm on Planet Corporation Pop. That kind of amount was average for me - including drinks in the pub, maybe some peanuts or something too. Then a nightclub, more drinks, invariably a packet of expensive fags, some greasy food, and then a taxi.

£12 wouldn't go far in the Sheaf View, not with all those tempting exotic ales.

I do know someone who is not rolling in cash but because he was self-employed on a contractual basis there was going to be a tax issue so he was to be paid a car for part of his costs. He had a Jag. :o

Anyone who had a house pre 2002 is sitting on a pile of cash that far outweighs what most of them earn in a year.

Most of those fancy new cars out there have been bought on the equity earned from the housing boom.

Originally posted by formetoknow
mainly dodgy people who drive the newer and better cars

It's a phallic status symbol.

Can't stay to chat, have to pop out in my Messerschmit Bubble car!

Originally posted by Deavon
Anyone who had a house pre 2002 is sitting on a pile of cash that far outweighs what most of them earn in a year.

Most of those fancy new cars out there have been bought on the equity earned from the housing boom.

their sitting in a pile of bricks. Unless they intend to exit the market the notional gain in value is worthless to them, except as a means of raising credit, which they still have to repay in the long run.
The value of my house has no bearing on any financial decisions I make with the exception of changing house, and in that last respect I wish all houses had stayed at the 2001 prices we paid.

Originally posted by cloud

......so may people seem to be able to buy new cars. I'm not particularly materialistic, I'd just like to be able to think about a new car / caravan.

So many people seem to have the latest model things...am I missing something, or are most people paid considerably more than me......just wondering!!!!! [/B]

Hi, I've never posted on the forum before, however I was looking through the topics tonight having just registered and was interested enough to make this my first post.

I sympathise with your lack of understanding regarding the amount of shiny new cars on the road. I have always wanted a shiny new car, have been in a decently paid job for the past few years and yet, still drive a knackered old 306.

I mean, I love fancy cars, not a status thing, I am a designer and appreciate most aesthetically pleasing design in all fields. I just cannot imagine the disposable income these people have!

Would love to see a post from someone who has a great car, so that I can understand the costs, to see if one day in the future I could afford one.

Hi Turbo23
Thanks so very much for making your first post.
Could you give me an example of what you would consider a GREAT car ?

speaking from personal experience, it is amazing how appalling, expensive to maintain and poor, so called "great cars" can be in real life..

Sod new cars!! Most will lose several thousands pounds in value the first year you own it.

Personally I like nice cars and depending what you like there are some great second hand bargains to be had.

As an example I currently own a Ford Probe 24V (been modified a bit) which you can pick up new for a little over £1k...this is a car that cost over £20k 10 years ago!! I'm currently going to be upgrading to a faster but older car. A 3rd gen Mazda RX7 will cost me around £5-6k for a good example 92 car with performance on par which some of todays supercars...this is a car that also cost around £35k 10 years ago.

Second hand cars are the future ;)

Personally speaking, when I had any one of my new cars (a Cavalier, a Peugeot 405, a Vectra, two Meganes and a Scenic) it was because somebody else was paying for them!

All bar the last one were company cars (although I paid tax on them I would never have had the cash to buy a car from new so I consider it more like renting), and since retiring my owned car was a rather wonderful elderly SAAB (a mony pit, but a fabulous money pit!).

I only gave her up when I had the opportunity of a Motability car- the Scenic, which turned out to be no more reliable than my SAAB, but since I'm not footing the bill I'm not that bothered.

The number of people who commented on me going up in the world because I was driving a new car was amazing, even those who knew that I was actually not paying for it in the normal sense.

My advice to all of the people who crave new cars is to save your money and love the individuality and quirkiness of your old car. New cars are boring clones of each other and will cost you even more in depreciation than they do in dealer servicing costs.

Abdul's tips for financial success:

1) How new do you want your car to be? Take a look at the discount car warehouses (such as Direct Cars), where you can pick up a car registered as little as six-months earlier, for nearly half the original cost.

2) Don't drink or don't smoke.

3) Have some more babies ;) Childrens tax credits and the like can add up to a tidy amount per month!

4) Inherit your house from your parents :thumbsup: ... then spend the next two years of your life / salary doing it up :|

5) Haggle when buying electrical goods, or buy at the end of the financial quarter and save hundreds.

6) Aldi products are surprisingly good quality for the relatively low price

7) You can clothe the whole family at Primark

8 ) Forget overseas holidays - send the family to to the local park instead.

Any more tips, people?

I've got a brand new car on credit... It's 1month and a day old! YAY! :clap:

It costs me £99 a month for the next 5 years and is the first thing I've ever bought on credit. When my old car died, I wasn't in a position to buy another run around... and neither was I in a position to constantly pay out week in-week out like I had been doing... I needed the security of a car that wasn't my problem if it went wrong... Hence my decision. I wish I didn't have to get it on credit, as I do like to pay for my things upfront (no credit cards etc) but it was the only way.
I rarely drink and I don't smoke... But I do work a minimum wage job in order to pay for it...

The fact that its brand new and all that doesn't bother me. I was quite happy in my old one, but constantly worrying that the spare tenner in my bank account might have to go for this part, or that part... I have peace of mind at last!

I'm not saying everyone should go out and get credit... It's definately not a good thing... But from where I'm standing, on this one occasion, it's bought me my freedom, aswell as my peace of mind :)

out of interest caprice. What new car did you get that costs less 6k including the interest you pay?
And did you consider buying 6 months or 1 year old in order to dodge most of the depreciation?

My mate pays £30 a week for his nearly new car, thats £1,500 per year. if anything goes wrong with it, he gets it fixed for nothing for the next 2 years.

I bought my car for £1,000 and have paid £500 in repair bills in the past year.

Next year I have budgeted £500 in repair bills but doubt I will need this much, I will be at least £1,000 better off than my mate.

My sister bought a new car last year as her old one was going to cost £1200 to get through an MOT and didn't meet the family needs very well anyway (lack of space for baby seats).

She went to see a Citroen dealer at their year end, when they had too many cars in stock, picked out a new Picasso, then sat down to negotiate.

Came out with

free 12 month tax,
2 years free servicing and AA membership,
£1000 cash back (taken off the balance),
£2700 trade in and
0% APR on the remainder

If you know you are in a position of power you can get away with asking for all of this.

She's bored witless with the car and preferred her old one though!

ahhhhh... I wish I could have a new car...... The smell of new and knowing I'm the first person to sit on those new seats......
I can dream on though, it definately won't happen for a while yet!

Originally posted by Cyclone
out of interest caprice. What new car did you get that costs less 6k including the interest you pay?
And did you consider buying 6 months or 1 year old in order to dodge most of the depreciation?

I got an 05 Suzuki Alto... Normally priced at £6k, they are on special offer at £5k on the finance offer... (Basically to get rid of the 05's in time for the 55's coming out soon...) I pay back a total of £6,280.... So in reality, its only costing me £280 to have it on credit...

Didn't consider a 6month/1yr car... Want to get most out of warranty :)

There was a big boom in new cars in the US when zero financing came out, i think it's still the same now, not sure though.... did you have a few years of zero financing ?

Originally posted by Cyclone
their sitting in a pile of bricks. Unless they intend to exit the market the notional gain in value is worthless to them, except as a means of raising credit, which they still have to repay in the long run...


Exactly! They can raise capital on the strength of their asset worth.

Audi A4 Cabriolet, anyone?

[QUOTE]Originally posted by muddycoffee
Could you give me an example of what you would consider a GREAT car ?

I definately agree with the majority of other members in this topic in that new cars are out of the question and cost far too much to maintain. As far as GREAT cars go, well.......
Present : Audi TT, Porshe Boxster, Mercedes SLK or Kompressor, BMW 3, 5, 6 series...those sorts of non affordable cars.
Past : TVRs, BMW 8 series, Lotus Esprit generally all sporty numbers.

I have been looking into getting an 8 series BMW. (if you remember them, they were released about 10-15 years ago, used to cost 65K and look really cool) You can pick them up for about 8K, but I have been reseraching these and the maintenance is really expensive.

But at least you get to drive around in a real unique, supercar. (of sorts)