Food !! Youse wuz lucky !!
When I were growing up, we had half a handful of cold gravel and our Dad's would thrash us to sleep half an hour before we got up to pay the mill to go work in it for free.
Hmmprrh....Food !! Youse wuz lucky !!
101 savings tips for FHB
- Thread starter Monopoly
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Food !! Youse wuz lucky !!
When I were growing up, we had half a handful of cold gravel and our Dad's would thrash us to sleep half an hour before we got up to pay the mill to go work in it for free.
Hmmprrh....Food !! Youse wuz lucky !!
Round and round we go, where do we stop, everybody knows!
It's interesting what we pick out of a post. You obviously didn't see that the poster worked 6 days a week. Or perhaps you conveniently ignored it, because it didn't suit your views.
There was no mention of being entitled to take an o/s holiday! Where di you get 'entitled' from?
And anyway, and O/S trip to SE Asia is much cheaper than it was 10, 20 years ago. You can have an overseas trip for less than an average weeks salary. It's hardly a bank-breaking expense
Umm Weg spelt it porper that's why I put the " " around it.
Also I was being optimistic when I said $30k per year. It would be more like $30k per 1.5 years. It would take me 3 years to save a $60k deposit. I'd be living off a budget of $100-$300 per week which would be fine. I'm used to that. But I would be saving 60-90%of my income. I wouldn't sign a mortgage contract which cost that much because it would be too much pressure. I can push myself to live off the bare minimum for savings, but I wouldn't be willing to do that for a mortgage if that makes sense?
I can buy an investment property instead of a PPOR and live in a share home/at home and I might move overseas where taxes are lower and I don't have to repay my student debts. I'll have to work late and do further study because it's really competitive at the start of your career so the second job thing isn't an option. My career + study will be like working 2-3 jobs
Also I was being optimistic when I said $30k per year. It would be more like $30k per 1.5 years. It would take me 3 years to save a $60k deposit. I'd be living off a budget of $100-$300 per week which would be fine. I'm used to that. But I would be saving 60-90%of my income. I wouldn't sign a mortgage contract which cost that much because it would be too much pressure. I can push myself to live off the bare minimum for savings, but I wouldn't be willing to do that for a mortgage if that makes sense?
I can buy an investment property instead of a PPOR and live in a share home/at home and I might move overseas where taxes are lower and I don't have to repay my student debts. I'll have to work late and do further study because it's really competitive at the start of your career so the second job thing isn't an option. My career + study will be like working 2-3 jobs
Congratulations. I'm guessing that's what you were after?
Really?? Is that with flights or does one paddle across the seas?? Perhaps it is just flights and then you sleep under the stars??
Surely you'd pay at least $1000 flights and accomm (combined) and that's minus any food, nightlife or souvenirs I'd imagine.
Besides which, even if you could do it cheaper (and I'm sure many could) whatever the cost, wouldn't it be better spent on the other more important things you been having to do without, ie. better meals or a splurge on a nice suit so you can look snazzy for that next (better paying) job interview??
Really?? Is that with flights or does one paddle across the seas?? Perhaps it is just flights and then you sleep under the stars??
Surely you'd pay at least $1000 flights and accomm (combined) and that's minus any food, nightlife or souvenirs I'd imagine.
Linky
Besides which, even if you could do it cheaper (and I'm sure many could) whatever the cost, wouldn't it be better spent on the other more important things you been having to do without, ie. better meals or a splurge on a nice suit so you can look snazzy for that next (better paying) job interview??
Sure, but that's a separate issue. My point is that o/s travel isn's seen as being a big deal by younger generations, because it isn't as expensive as it used to be.
Some people would take the $600 and buy a suit, or something for the house, or whatever they like!
I agree with Dan. Young people don't travel how older generations travel. If we want to go to Europe or the US We pay $1.5-2k for air fares and then go to a backpacker hostel for $30 per night. You can actually save money by going overseas because the cost of living is so much cheaper there. Aire fares to asia are even cheaper. It's much less expensive to go to Bali or Thailand and even the US right now than it is to go to Queensland as far as paying for meals and outings etc.
I don't travel because I can barely afford food lol. But when I start working I don't think travel would stop me from purchasing a home. It's such a small cost in comparison to the price of a house.
I don't travel because I can barely afford food lol. But when I start working I don't think travel would stop me from purchasing a home. It's such a small cost in comparison to the price of a house.
Yes I agree completely.
Dan C, thanks for the link.
You're absolutely correct; there are some good deals for under a week's pay (I'd forgotten just how cheap SE Asia can be, but then I don't travel there).
However, I think we're missing the point.
Then again maybe we're not because as CJProperty said, it just seems that way because we're going round in circles!!
i love this one ... i used to know a lady who bemoaned that she had no money but would spend $200+ on a haircut! sorry, but i don't hang with those sorts anymore.
go to just cuts for $26 every 2 months!
do not buy new makeup until the old one is dead and buried - and then go for the more value for money brands.
buy homebrand staples of flour, pasta, sugar, milk, cling wrap etc.
take your own lunch. make your own coffee. do lots of mince meals as they go a long way for little $$ (but buy the better quality mince). go out but don't buy hideously expensive mixer drinks - stick to wine or beer - or better still, have a night in with the friends, byo drinks and bbq.
you have years before thinking about family so don't let it stress you. i had my first at 35. means you have 10+ years of paying off mortgage - travelling - living before thinking about other things (which will naturally happen in time).
make your own money in real estate by doing cosmetic reno's (easy peasy) on your ppor's.
besides ... what is middle aged nowadays if the 50's are now the new 40's? clubbing - pffft - couldn't be bothered. to busy with life itself.
but that is another point we seem to be beating our heads against a wall about.
your bought 11 years ago - to buy in the same area now would be harder - agreed!
suburbs move in value. some up, some down. the secret is to look in areas you can afford - not those that you desire to live in.
shucks i desire to own 10acres on the beach in the newcastle cbd. should it be my right because i desire it? no way - simply because i cannot afford it (hmmm, cost around $30mil to buy up and demolish all those houses) - ergo, when i am ready for my 10acres i will look further afield where i can afford.
But the thing is it costs $250,000 to $300,000 to live in the worst areas. It's not like I've been looking at mansions in Toorak! I'll be earning more money than the poorest people in our society..so if I'm struggling to afford a 1 bedroom in the ghetto of Dandenong where the hell are the actual poor people living?
I pay $40 per hair cut and I cut my hair once every 6 months. I don't drink. I eat 40 cent Mi Goreng for dinner. lol.
I thought if you had children later you were at a greater risk of having miscarriages and giving birth to children with down syndrome. I don't think it's ideal to have them later.
that's right ... it all come down to personal choice.
you can have the travel or the house when first starting out - but generally not both.
you can have the flash car or the travel when first starting out - but generally not both.
you can have the ipod, iphone, ipad, apple mac, wii, ds3d etc or the flash car when first starting out - but generally not both
you can have the house or every electronic dodad under the sun when first starting out - but generally not both.
problem is that so many of genY haven't had to make tough decision - either/or - as they have often been given both by indulgent parents.
yes - bb'ers and older x's are often to blame (sigh)
hi cc - worry, my comment was aimed at tarah not yourself.
i think you're doing the right thing, but you need to think outside the box - just as we did 20 odd years ago.
if you're buying something for $300k, i assume it will be a 2 bedder, have someone come in as a boarder ... going rate is around $150/wk, so that will help your financial situation.
you're right, it generally takes two incomes to get a foot on the ladder - same as it did 20 years ago - so if there isn't a partner to share the cost then you need to look further afield.
that's right ... it all come down to personal choice.
you can have the travel or the house when first starting out - but generally not both.
you can have the flash car or the travel when first starting out - but generally not both.
you can have the ipod, iphone, ipad, apple mac, wii, ds3d etc or the flash car when first starting out - but generally not both
you can have the house or every electronic dodad under the sun when first starting out - but generally not both.
problem is that so many of genY haven't had to make tough decision - either/or - as they have often been given both by indulgent parents.
yes - bb'ers and older x's are often to blame (sigh)
OH MY GOD, YOU'RE ALL INSANE! I'm GEN Y and I'm telling you I own NONE of those things. I have a $200 Nokia pre paid phone. But you don't listen. You just live in your fantasy world where Gen Ys are taking trips to Europe every other month and have an abundance of Mac Book Pros and iPhones. I'm worried about affording a mortgage and food not a mortgage and a god damn Wii console!
Hrm, our mortgage is not that much smaller than that and its doable - $190k or so on a ~$60k income, and three rugrats and a cat to chase. Mind you we're just saving the equivalent now, most of that mortgage hasn't hit us yet and if one house is sold or rented its all moot anyway.
I'm thinking any mortgage that starts with a 1 or 2 is really really small these days, considering the median house almost everywhere is $400k or so. Think about a $400k mortgage on that $50k income and THEN you'll get scared.
no - if you bothered to read the posts you would see that i think you are doing the right thing ... however ... as has been shown, the majority of genYer aren't.
consider yourself "unlumped" in with the majority.
however, do consider the boarding if you do not have a partner to share the cost of a property with. wylie's son is a perfect example of a young fella buying his own unit and getting someone in to help with the cost.
p.s. i have a $99 mobile prepaid - so what?
p.p.s. is that another trait of genY - that they don't read something in it's entireity before replying? i do remember reading something recently about the proven fact of attention spans being a lot shorter in current generations.
Since when is a median priced home be considered as a FHB home?
Since this generation decided they are better than previous ones and in some way are entitled to more and now?
Cupcakes, yes you are (it seems) one of the rare few who is trying. Albeit that is commendable, saving is only part of the equation. IMO (and please before anyone gets their knickers or jocks in a twist) t'is just MY opinion, not gospel, you need to do 3 things:
1. Budget every cent
2. Sacrifice everything (within reason)
3. Learn to become innovative!!!
Seems to me you're doing 1 & 2 but have you considered option 3. Parking at universities is expensive, even at student rates (that hasn't changed much in 20 years!) so why not look at things like car-pooling. Universities have great communities of students who get together to make their (already measly) few dollars go a bit further; join them!
A few other ideas....
Tutoring - great hourly rates helps you and the kid your tutoring
Boarders - take on a flatmate, boarder
Dog walking - good money, great exercise
Babysitting - helps prepare you for motherhood, or doubles as cheap form of contraception!
1. Budget every cent
2. Sacrifice everything (within reason)
3. Learn to become innovative!!!
Seems to me you're doing 1 & 2 but have you considered option 3. Parking at universities is expensive, even at student rates (that hasn't changed much in 20 years!) so why not look at things like car-pooling. Universities have great communities of students who get together to make their (already measly) few dollars go a bit further; join them!
A few other ideas....
Tutoring - great hourly rates helps you and the kid your tutoring
Boarders - take on a flatmate, boarder
Dog walking - good money, great exercise
Babysitting - helps prepare you for motherhood, or doubles as cheap form of contraception!
and this is another trait of Gen Ys' they simply cannot take criticism, consutructive or not! and another point is, just because you may not posess the typical characteristic doesnt mean its not true for everyone else. you get all upset and agro and say "you are wrong because Im not like that" guess what ? "so what" it means nothing
I used to live in a very Italian concentrated area, and Im not, if someone said "oh you live in area X, there fore you must be Italian" you look a little italian, I didn't get upset and say "OH MY GOD, YOU'RE ALL INSANE! I'm live there and I'm telling you I am NOT ITALIAN!"
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