| £32,000 per year 06:39 - Jan 20 with 19190 views | raynor94 |
Should you be using a food bank?
It's come up this week a nurse has said that's what she earns and can't survive without a food bank.
A Tory mp has said on the airwaves that there is something wrong with her budgetin skills, in this instance i haveto agree with him.
And how does she get a voucher earning that type of money, thoughts? |  |
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| £32,000 per year on 16:29 - Jan 26 with 949 views | Treforys_Jack |
| £32,000 per year on 16:17 - Jan 26 by SullutaCreturned |
Our current gaffe was 95k and in need of work. We've spent about 10k on it and maybe another 5k will get it where we want it.
A lot depends on how willing you are to work and to sacrifice but even so, kids on minimum wage in unsecure jobs will struggle.
For this house we had equity from the last house for the deposit and fund to develop it and we are both in secure jobs though back when we bought my wife was working and I was in ill health and recieving my RM pension.
We were comfortable though. For a young couple just starting out it's not as comfortable. |
I don't think anyone is arguing that it's more difficult, more to do with the culture of sacrifice and starting out at the bottom, which many seem loathe to do.Landlords aren't helping by snapping up many of the cheap houses that come up for sale. |  | | |
| £32,000 per year on 16:40 - Jan 26 with 927 views | ThurrockJack92 |
| £32,000 per year on 16:29 - Jan 26 by Treforys_Jack |
I don't think anyone is arguing that it's more difficult, more to do with the culture of sacrifice and starting out at the bottom, which many seem loathe to do.Landlords aren't helping by snapping up many of the cheap houses that come up for sale. |
Absolutely, they've no business being in the market, but it may get worse now with banks realising they can just buy up developments to rent instead of giving people mortgages to buy said properties.
There are definitely people in my generation who are unwilling to sacrifice or compromise, but that isn't the argument most of us young ones are making, we are just pointing out that there is a section of the population that would have been able to buy in the conditions of yesteryear if they made the same sacrifices, but that would not yield the same result today. |  | | |
| £32,000 per year on 16:47 - Jan 26 with 919 views | Fireboy2 |
| £32,000 per year on 14:08 - Jan 26 by Treforys_Jack |
Not in disagreement, when comparing different generations and era's, everything is relative. As someone else said on thread, I shudder now when I think of the work I had to do to my first house, we lived in a bedroom, whilst the rest of the house was hacked off and replastered, it was that lovely black lathe and plaster  . We must have been bonkers, but wanted our own place.
Been a good discussion fair play. |
Been there TJ, only when we bought our third house though.
When I got my first on my jack it didn't need much doing and that why at the time it was quite expensive for the area.
Yes, you are correct this topic as a whole has been good. |  | | |
| £32,000 per year on 17:12 - Jan 26 with 908 views | CountyJim |
I think if you live in a major city or in affluent area such as parts of say Surrey Sussex then 32k a year you'd struggle big time to get a decent property without help from bank of mum and dad |  | | |
| £32,000 per year on 18:05 - Jan 26 with 884 views | Treforys_Jack |
| £32,000 per year on 17:12 - Jan 26 by CountyJim |
I think if you live in a major city or in affluent area such as parts of say Surrey Sussex then 32k a year you'd struggle big time to get a decent property without help from bank of mum and dad |
Indeed, shows the importance of a good family value set up, something that seems to be lacking or rather missing for a multitude of different reasons these days. People out on their own are undoubtedly far worse off, and as someone said earlier in the thread, if you're renting, with no support, then yes, owning your own home would be very very difficult .
Are there still schemes around where you start off owing sometime like 50% of the house ? They were quite prevalent a few yrs back. | | | |
| £32,000 per year on 18:09 - Jan 26 with 874 views | CountyJim |
| £32,000 per year on 18:05 - Jan 26 by Treforys_Jack |
Indeed, shows the importance of a good family value set up, something that seems to be lacking or rather missing for a multitude of different reasons these days. People out on their own are undoubtedly far worse off, and as someone said earlier in the thread, if you're renting, with no support, then yes, owning your own home would be very very difficult .
Are there still schemes around where you start off owing sometime like 50% of the house ? They were quite prevalent a few yrs back. |
There's a three bed house by me for rent nothing fancy but they want 1100 a month it's just crazy | | | |
| £32,000 per year on 19:43 - Jan 26 with 841 views | majorraglan |
| £32,000 per year on 10:35 - Jan 26 by Badgeman |
Did you look at any of those properties available? I had a look at the filters you suggested but took out 1 bedroom properties as they aren’t any use to young people trying to start a family. That number drops to 370. I had a scan through from cheapest to most expensive and I think I’d barely counted 20 properties under 100k that were in a liveable condition on purchase. And I don’t mean decorated, I mean liveable. Most of those properties needed substantial remodelling ie new kitchen, bathroom, carpets etc.
For you to suggest “most are liveable” tells me you didn’t look. But it’s funny you’ve highlighted how broken the system is and you can just shrug it off. Even if you search properties in all of Swansea and then increase the radius by 5+ miles you’re left with a handful of poor condition properties available for 100k or less. So yeah if you’ve only got a 10k deposit you can buy a house in Swansea which will likely need at least another 10k spent on it to modernise it, and as long we are counting port Talbot and Kidwelly as Swansea. |
These days a lender won’t touch a house without a kitchen, it’s effectively unmortgageable. If it’s in tally poor condition, they’ll also be looking for a bigger deposit. |  | | |
| £32,000 per year on 19:49 - Jan 26 with 833 views | SullutaCreturned |
| £32,000 per year on 19:43 - Jan 26 by majorraglan |
These days a lender won’t touch a house without a kitchen, it’s effectively unmortgageable. If it’s in tally poor condition, they’ll also be looking for a bigger deposit. |
These days? How reently s that because this house had an unusable kitchen when we bought it, we lived on cold food and takeaway for 3 weeks. | | | |
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| £32,000 per year on 20:10 - Jan 26 with 823 views | BryanSwan |
| £32,000 per year on 19:43 - Jan 26 by majorraglan |
These days a lender won’t touch a house without a kitchen, it’s effectively unmortgageable. If it’s in tally poor condition, they’ll also be looking for a bigger deposit. |
From experience the main criteria for lending was that the kitchen and bathroom both had running water. Mine had an old sink barely hanging on and nothing else in there bar a few broken cupboards, that was deemed fit for mortgage. | |
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| £32,000 per year on 21:37 - Jan 26 with 783 views | majorraglan |
| £32,000 per year on 14:08 - Jan 26 by Treforys_Jack |
Not in disagreement, when comparing different generations and era's, everything is relative. As someone else said on thread, I shudder now when I think of the work I had to do to my first house, we lived in a bedroom, whilst the rest of the house was hacked off and replastered, it was that lovely black lathe and plaster . We must have been bonkers, but wanted our own place.
Been a good discussion fair play. |
I did much the same on my first place, but these days renovating a property is much, much more costly.
I’m actually doing a place up now, the tradesmen are now charging a fortune and on top of that there are the Building Regs. I’ve had damp in my 2ft thick stone walls, it’s been sorted and I’m now at the stage where I’m replastering. As entire walls need plastered Building Regs are required as the thermal aspect has to be improved, if I don't get the work signed off it’s likely to cause me a major headache if I try to sell the house - mortgage companies and solicitors now want evidence work is up to standard or they won’t lend the cash. Any electrical or gas work also has to be done by an accredited person, using hobblers Is in many cases a thing of the past. It’s certainly not as easy as it was when I bought my first place. | | | |
| £32,000 per year on 21:38 - Jan 26 with 781 views | majorraglan |
| £32,000 per year on 19:49 - Jan 26 by SullutaCreturned |
These days? How reently s that because this house had an unusable kitchen when we bought it, we lived on cold food and takeaway for 3 weeks. |
Was told this by an estate agent not so long ago. | | | |
| £32,000 per year on 21:48 - Jan 26 with 748 views | Dr_Parnassus |
| £32,000 per year on 16:29 - Jan 26 by Treforys_Jack |
I don't think anyone is arguing that it's more difficult, more to do with the culture of sacrifice and starting out at the bottom, which many seem loathe to do.Landlords aren't helping by snapping up many of the cheap houses that come up for sale. |
Indeed, being “more difficult” doesn’t mean it’s particularly difficult.
There is nothing stopping any young person saving and buying a house in the 120k range.
£12,000 needed.
5 years of saving £50 a week. Again, most waste £50 a week on coffees and McDonald’s. Start at 18 and you will be on the property ladder by 23.
These excuses and blaming government at every turn is such a cop out. |  |
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| £32,000 per year on 22:12 - Jan 26 with 721 views | Dr_Winston |
I bought my house for £65k knowing that it needed at least £20k spent on it. I didn't have £20k at the time but it was a foot in the door. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| £32,000 per year on 22:13 - Jan 26 with 721 views | Boundy |
| £32,000 per year on 21:48 - Jan 26 by Dr_Parnassus |
Indeed, being “more difficult” doesn’t mean it’s particularly difficult.
There is nothing stopping any young person saving and buying a house in the 120k range.
£12,000 needed.
5 years of saving £50 a week. Again, most waste £50 a week on coffees and McDonald’s. Start at 18 and you will be on the property ladder by 23.
These excuses and blaming government at every turn is such a cop out. |
Such generalisation , when you consider the average wage of in Swansea is 26K and that's based on a variety roles and the average house price of a property is £217,139 then that's an awful lot of Costa/McDonalds to be consumed and hats at today's prices , maybe having a Mcdonald's is a cheap way to eat a hot meal ? or are the young to be denied that | |
| "In a free society, the State is the servant of the people—not the master." |
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| £32,000 per year on 22:19 - Jan 26 with 711 views | majorraglan |
| £32,000 per year on 21:48 - Jan 26 by Dr_Parnassus |
Indeed, being “more difficult” doesn’t mean it’s particularly difficult.
There is nothing stopping any young person saving and buying a house in the 120k range.
£12,000 needed.
5 years of saving £50 a week. Again, most waste £50 a week on coffees and McDonald’s. Start at 18 and you will be on the property ladder by 23.
These excuses and blaming government at every turn is such a cop out. |
It’s by no means as easy as your suggesting
By the time they’ve saved £50a week for 5 years the market will have moved on and the house price increased even further necessitating an even bigger deposit.
One of my kids has been looking in to buying a house, if he earns £29,500 pa and doesn’t have any other outgoings from his current salary (car insurance, fuel, mobile etc) the maximum they will allow him to borrow is £103k and that’s with a 15% deposited, they may drop the 15% but is not a given and defendant on their afford ability rule. Any regular outgoings, car, phone etc eat in to th3 affordability. He’s not getting the £120k house based on the above figures.
The median salary in Wales is £31k and the average salary £33k, not many kids are going to be on that kind of coin when they’re 23 years old.
Totally agree about wasting cash on coffees etc. [Post edited 26 Jan 2023 22:20]
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| £32,000 per year on 22:19 - Jan 26 with 708 views | Sirjohnalot |
| £32,000 per year on 22:13 - Jan 26 by Boundy |
Such generalisation , when you consider the average wage of in Swansea is 26K and that's based on a variety roles and the average house price of a property is £217,139 then that's an awful lot of Costa/McDonalds to be consumed and hats at today's prices , maybe having a Mcdonald's is a cheap way to eat a hot meal ? or are the young to be denied that |
You’re completely right. Like I said above, many young barristers I know, even couples haven’t a hope of getting on the property ladder. These are bright, very intelligent people. Saddled with huge debt, no,help during lockdown. Awful situation. |  | | |
| £32,000 per year on 01:56 - Jan 27 with 648 views | Dr_Parnassus |
| £32,000 per year on 22:13 - Jan 26 by Boundy |
Such generalisation , when you consider the average wage of in Swansea is 26K and that's based on a variety roles and the average house price of a property is £217,139 then that's an awful lot of Costa/McDonalds to be consumed and hats at today's prices , maybe having a Mcdonald's is a cheap way to eat a hot meal ? or are the young to be denied that |
It’s not a generalisation, your first house purchase isn’t usually the average market price, it’s the bottom of the ladder type house.
So again, £50 a week for 5 years is £12,000.
I’m not saying don’t eat, as you know full well. I’m saying cut back £50 a week on fast food and Starbucks, they are not essential to survival.
They are luxury items. | |
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| £32,000 per year on 01:59 - Jan 27 with 643 views | Dr_Parnassus |
| £32,000 per year on 22:19 - Jan 26 by Sirjohnalot |
You’re completely right. Like I said above, many young barristers I know, even couples haven’t a hope of getting on the property ladder. These are bright, very intelligent people. Saddled with huge debt, no,help during lockdown. Awful situation. |
Send them to me, sounds like awful budgeting to me.
Tell them to sign up here and send me a PM. I will help them for free.
Expenditure and incoming list, mark the areas which are being spent on which doesn’t need to be.
I refuse to believe 100% of their money is being used 100% efficiently, that would be extremely unlikely. | |
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| £32,000 per year on 02:10 - Jan 27 with 639 views | Dr_Parnassus |
| £32,000 per year on 22:19 - Jan 26 by majorraglan |
It’s by no means as easy as your suggesting
By the time they’ve saved £50a week for 5 years the market will have moved on and the house price increased even further necessitating an even bigger deposit.
One of my kids has been looking in to buying a house, if he earns £29,500 pa and doesn’t have any other outgoings from his current salary (car insurance, fuel, mobile etc) the maximum they will allow him to borrow is £103k and that’s with a 15% deposited, they may drop the 15% but is not a given and defendant on their afford ability rule. Any regular outgoings, car, phone etc eat in to th3 affordability. He’s not getting the £120k house based on the above figures.
The median salary in Wales is £31k and the average salary £33k, not many kids are going to be on that kind of coin when they’re 23 years old.
Totally agree about wasting cash on coffees etc. [Post edited 26 Jan 2023 22:20]
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It appears the house prices have risen 20% in the last 5 years in Wales (and that’s been particularly high).
You can pre-empt that and save £60 a week - or save your £50 for an extra 12 months.
Neither should be a particular problem for any young person to achieve.
As to a previous point regarding student loans, they only come into play above a certain earning threshold.
Also important to note that saving until ready to buy your first home with your significant other is also highly recommended. Not only does that halve your saving need to £25 each per week but also allows you to conjoin salaries to give more borrowing power.
There is nothing wrong with the rental market until that time. It’s what it’s there for in the main. [Post edited 27 Jan 2023 2:55]
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| £32,000 per year on 04:51 - Jan 27 with 614 views | Treforys_Jack |
| £32,000 per year on 01:59 - Jan 27 by Dr_Parnassus |
Send them to me, sounds like awful budgeting to me.
Tell them to sign up here and send me a PM. I will help them for free.
Expenditure and incoming list, mark the areas which are being spent on which doesn’t need to be.
I refuse to believe 100% of their money is being used 100% efficiently, that would be extremely unlikely. |
Have to admit, i did have a little chuckle ðŸ˜. Not much I disagreed with though to be fair. | | | |
| £32,000 per year on 04:58 - Jan 27 with 613 views | mangohilljack |
32k is really a pittance as that amounts to less than 64k Australian dollars. You could get a starting salary in a call centre here for a bank or telco for more, I think they usually start on 68k entry level for a general admin role. | | | |
| £32,000 per year on 05:57 - Jan 27 with 588 views | Sirjohnalot |
| £32,000 per year on 01:59 - Jan 27 by Dr_Parnassus |
Send them to me, sounds like awful budgeting to me.
Tell them to sign up here and send me a PM. I will help them for free.
Expenditure and incoming list, mark the areas which are being spent on which doesn’t need to be.
I refuse to believe 100% of their money is being used 100% efficiently, that would be extremely unlikely. |
Refuse to believe all you want, it’s true. Do you not think they’ve done that ? They’ve huge debt from Uni. Renting in the Manchester area is very high, unless they want to live in very dodgy area, neither of them drive so they have to use public transport. These are very intelligent people, they know about budgeting. With respect, you don’t live here so you’ve no idea as to the reality.
This will be especially so, should they want to start a family. Both self employed, so their income with halve when she on mat leave. | | | |
| £32,000 per year on 05:58 - Jan 27 with 579 views | Dr_Parnassus |
| £32,000 per year on 04:51 - Jan 27 by Treforys_Jack |
Have to admit, i did have a little chuckle ðŸ˜. Not much I disagreed with though to be fair. |
Yep, I’ve seen it plenty.
People moaning about how hard they have it, moaning about the government, moaning about not being able to buy a house.
But they have the new iPhone every year, always have their Chai lattes, a pair of Jordans or whatever the latest fashion trend is, out having lunch at coffee shops and night out with mates at the weekend.
People want things given to them and they want things easy.
Doesn’t matter if you are a barrister or a baker, the equation is simple - Work for it. Save. Make lifestyle sacrifices. Make sound choices.
The only complication comes when someone decides to have a child or children very young or they saddle themselves with needless credit card debt.
But again that comes down to the last point, make sound choices. | |
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| £32,000 per year on 06:04 - Jan 27 with 566 views | Dr_Parnassus |
| £32,000 per year on 05:57 - Jan 27 by Sirjohnalot |
Refuse to believe all you want, it’s true. Do you not think they’ve done that ? They’ve huge debt from Uni. Renting in the Manchester area is very high, unless they want to live in very dodgy area, neither of them drive so they have to use public transport. These are very intelligent people, they know about budgeting. With respect, you don’t live here so you’ve no idea as to the reality.
This will be especially so, should they want to start a family. Both self employed, so their income with halve when she on mat leave. |
I believe they tell you they can’t afford it, I hear it all the time.
I don’t believe for a second they actually can’t though. It’s 99.9% of the time just poor money management.
Everyone (who went) has student debt, I had it too. Didn’t have to pay anything back until I was earning above a certain level and even then it’s staggered.
Being intelligent has nothing to do with the ability to budget and make sound choices. Extremely intelligent people go bankrupt all the time through poor money management. To think an intelligent person can’t make poor financial choices is extremely naive.
I have lived in London without a car, I know exactly how it is.
I promise you - give them my details and I will 100% be able to find areas they can cut back, but the usual answer is they don’t want to. | |
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| £32,000 per year on 06:08 - Jan 27 with 559 views | Dr_Parnassus |
| £32,000 per year on 04:58 - Jan 27 by mangohilljack |
32k is really a pittance as that amounts to less than 64k Australian dollars. You could get a starting salary in a call centre here for a bank or telco for more, I think they usually start on 68k entry level for a general admin role. |
It’s a completely different cost of living so it’s all relative.
Australia’s main cities have a cost of living which is 40% higher than that of Cardiff for example.
Take that £32k and go to parts of Asia and you would live like a multi millionaire. | |
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