Salary and Cost of Living

Discussion in 'Employment & Jobs' started by NoCompanyIT, Feb 12, 2009.

  1. craigie

    craigie Terabyte Poster

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    I was in debt many many years ago which I cleared whilst living at home. I then put down a 10% deposit on my first house which I stilll have.

    In fact my first house helped me supplement my income from IT by £400 per month when I decided to make the career change which is nice (thank you to my tenants :))
     
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  2. onoski

    onoski Terabyte Poster

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    Try and sew your coat according to your size and don't try and live beyond your means or on credit card. It's tough but at the end you'd be a better and responsible person not just in the money aspect but in terms of responsibility.

    I say this because I drive an old car and quite a few pride stars with their half new car keep saying why don't you buy a fairly new car. This might not be all the same in your case, but a prime example of how people live beyond their means.

    Lastly, a car being old or not the usefulness is still the same be it fairly new or older. If it can take you from A to B then it's accomplished or accomplishing it's goal. Nuff said:)
     
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  3. westernkings

    westernkings Gigabyte Poster

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    never get into debt for gods sake, it's the worst thing in the world, best way to purchase a brand new car is to save save save and use the interest from them savings as passive income to pay for the car, that way you never lose any money, just spend the interest on your savings buying a new asset.
     
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  4. zebulebu

    zebulebu Terabyte Poster

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    Agree with the sentiment - but not exactly the content. No-one should ever buy a new car - it loses 20% of its value the minute you drive it off the forecourt. The best cars to buy are three or four years old with low mileage - that way the car will be 35% cheaper than it was as new, 'broken in' properly, you have an almost new motor that shouldn't need much in the way of servicing for a few years and, if you sell it after a couple of years, you'll still make the majority of your money back on it.
     
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  5. onoski

    onoski Terabyte Poster

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    I can't agree more:), QFT.
     
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  6. NoCompanyIT

    NoCompanyIT Nibble Poster

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    Don't worry about me :) I do not spend much money at all and I'm a saver. Never used a credit card or loan (except student loan) and never will.

    I bought a 6 or so year old car last year, don't drive it much. I've had the same trainers for so many years, I recently bought a new coat after about 5 years and new pc after 5 or so years...you see what I mean :) I love to make things last as long as possible.
     
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  7. Fergal1982

    Fergal1982 Petabyte Poster

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    And, if you get a car thats still under warranty, you can apparently get a garage to check it out, and get any repairs done under warranty - so you get an almost new car for much less cost.
     
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  8. dalsoth

    dalsoth Kilobyte Poster

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    Moved into a flat 6 or so years ago and have lived with GF in 5 diff properties renting. Most costing £450 ish to £550 a month. Renting is a mugs game though to be honest. For various reasons never had enough to put a deposit down to buy though and didn't want 100% mortgage.

    Putting 1.5k - 2k away a month in savings now as we are both living with family to save up for a deposit faster. The way things are at the moment it's better to save up for a house and stay with your parents in my opinion.

    Wish i had done this 10 years ago when i was 20 or so!!
     
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  9. BosonMichael
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    BosonMichael Yottabyte Poster

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    Yet, despite all that horror, you STILL want the lavish, overpriced wedding. :twisted:

    Just sayin'. 8)
     
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  10. craigie

    craigie Terabyte Poster

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    Has Arroryn been speaking to my wife? :twisted:
     
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  11. onoski

    onoski Terabyte Poster

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    Well done, I like your attitude and only if others would follow suit as this would keep the banks under wraps:)
     
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  12. greenbrucelee
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    greenbrucelee Zettabyte Poster

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    Exactly what I am doing.

    I am the same as you. I had terrible debt so I moved back in with my Mum if I hadn't I probably would have been on the streets or something worse.

    Avoid debt at all costs untill to you can afford what you have to have finance on, and until your on atleast 20k in the UK you will struggle, well I did anyway.
     
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  13. Arroryn

    Arroryn we're all dooooooomed Moderator

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    I thought when we went over the conversation, I explained that it wasn't that lavish :rolleyes:

    And besides, yes, I want the "perfect" wedding, the way I have dreamt it to be. I've worked myself ragged since leaving school to get where I am today and I still yet have very little to show for my efforts. I'm saving for the wedding I want, and it'll be the day I deserve.

    Just sayin'. 8)
     
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  14. BosonMichael
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    BosonMichael Yottabyte Poster

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    Yes, we had that discussion... and I still posit that it's more lavish than someone "in a hovel" should consider. :) Besides, after that day, you still won't have anything to show for your efforts but an extremely nice memory and a whole lot of debt. :unsure

    Just giving advice: freely given, so it's freely taken or freely ignored.

    And... I'm just sayin'. :p
     
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  15. Arroryn

    Arroryn we're all dooooooomed Moderator

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    1. I don't live in a hovel any more :)

    2. It won't be a debt - we're saving for the wedding.

    It'll be a whole load of happy memories. Bought and paid for.

    I understand and appreciate your advice, as always Flameforker. But in this, you will find me unmoving :)
     
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  16. BosonMichael
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    BosonMichael Yottabyte Poster

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    Never thought I *would* move you. Doesn't stop me from teasing you unmercifully. :twisted:
     
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  17. Arroryn

    Arroryn we're all dooooooomed Moderator

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    You can try :wink:

    Anyway, we've hijacked the OPs thread. Back on topic :)
     
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  18. Crito

    Crito Banned

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    What you need to decide first is your minimum standard of living. The reason we can't compete with Indians in the global economy is because they can achieve the same standard of living in their country with half as much money. So don't focus solely on the going rate for wage slaves. It's entirely possible the max you can make in your area will still be below the min std of living required (to exist like a human being instead of an animal). In which case your only option is to move elsewhere, perhaps even to another country (with fewer bureaucrats to support).
     
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  19. Crito

    Crito Banned

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    Think of your std of living as a ratio of wages over cost of living. Say, use a scale of 1-10 for each. It's then clear that your wage really doesn't matter that much. Where you live is much more important. 4/2 = higher std than 10/8. ;)

    I guess that's why all these visa-less Mexicans go back to their own country after a few years. They didn't come to experience the American nightmare, er, dream I mean. They just came for some American money. 10 grand in Mexico will buy a nice house in the mountains... where cool rain falls every afternoon around siesta time... wake me up in a couple hours and have my double shot of espresso ready... Zzzzzz :biggrin
     
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  20. UKDarkstar
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    UKDarkstar Terabyte Poster

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    Monster have launched a map which gives info on some areas across a variety of headings so you may find that useful.

    Link
     
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