So what did you sacrifice?

Discussion in 'Investor Psychology' started by freyja, 4th Jun, 2015.

  1. freyja

    freyja Member

    Joined:
    13th Apr, 2015
    Messages:
    13
    Location:
    nsw
    There is often a post within a thread about the sacrifices (usually on 'older' generation) made to get on the property ladder.

    My partner and I sold our second car so we could save our deposit as were weren't getting anywhere paying 2 car loans plus rent. This meant trains to work and car pooling etc. We also had practically zero money for entertainment - I remember walking to the library on the weekends and our biggest treat was a custard tart from the local bakery. I'll never forget the freezing winter we spent in front of a 2-bar heater, of which one bar didn't work that my mum had given us...

    Our first house was a 2 bedder 1940's place with original carpet. Nothing flash but it was ours :)

    So, what did you sacrifice?
     
  2. Hooray

    Hooray Member

    Joined:
    13th Aug, 2006
    Messages:
    283
    Location:
    Oz
    Not making stupid financial mistakes early on helped.
     
  3. jerrybee

    jerrybee Member

    Joined:
    1st Aug, 2013
    Messages:
    1,182
    Location:
    melbourne
    Haven't taken a day off (other than mandatory public holidays, some weekends etc) in nearly a decade.
     
  4. Biz

    Biz $17 DOLLAS YO!

    Joined:
    14th Jul, 2014
    Messages:
    402
    Location:
    Sydney
    Nothing. I just made more money and saved. Lived within my means like I always have.
     
  5. Jen_PFR

    Jen_PFR reno victim

    Joined:
    16th Jun, 2010
    Messages:
    531
    Location:
    Perth, WA
    The main thing we have sacrificed is our time. Having mostly bought 'renovators' delights' and done the majority of the work ourselves, then renting them as self contained properties, I can't count the number of hours that we have spent on the properties rather than living it up.
     
  6. Impruev

    Impruev Member

    Joined:
    13th Apr, 2015
    Messages:
    7
    Location:
    Karratha, WA
    Buy, reno, sell, buy, reno sell: finally bought "dream" house. Had to sell said house as couldn't afford mortgage! Bought a crapper but still couldn't afford mortgage so rented it out (over East), packed up and moved to a mining town (in the West), bought a crapper! Stuck with crapper now worth 30% less than purchase price - crap! Time to formulate a different plan - read, research, risk = 3 additional IPs. When the going gets tough, it's easy to cry "poor me" but with a bit of hard work, anything is possible :)
     
  7. Terry_w

    Terry_w Member

    Joined:
    19th Mar, 2012
    Messages:
    9,610
    Location:
    Sydney, NSW
    I sacrificed a goat.
     
  8. D.T.

    D.T. Property Lookerafterer

    Joined:
    4th Feb, 2003
    Messages:
    7,181
    Media:
    6
    Location:
    Perth & Adelaide
    When i chat with work colleagues or other acquaintances of similar age, generally the main thing they have and I don't is international travel. I've only traveled internationally twice (but domestically countless times), which is a sacrifice I've paid to get what I'd prefer to have.
     
  9. BayView

    BayView Member

    Joined:
    2nd Feb, 2007
    Messages:
    12,129
    Media:
    9
    Location:
    Mornington Peninsula
    I sacrificed Time.

    My first PPoR was bought after spending almost a year and a half working 7 days per week in my first ProShop business, from virtually first light until almost dark..

    It was a necessary step though; new business, not a lot of turnover to support other staff - so I had to work it on my own.

    Made enough in that time for a deposit.
     
  10. Angel

    Angel Member

    Joined:
    29th Mar, 2010
    Messages:
    2,210
    Media:
    1
    Location:
    Brisbane, Qld
    Well done Freyja. Good on you

    Sacrifices:
    No travel
    no weekends on the Coast,
    no concerts,
    no eating out


    Common sense:
    one bathroom per house,
    no carpets on the floor,
    no air conditioning,
    no dishwasher,
    no pubs,
    no nightclubs (definitely not a sacrifice),
    no mobile phone,
    no ipad,
    paid cash for the one car we drove,
    never ever considered a second car,
    no buying lotto tickets,
    no expensive clothes,
    no fancy shoes or handbags,
    no jewellery
    ordinary TVs


    I am making up for these sacrifices now. Baby boomers might be seen to spend like there is no tomorrow, but it wasn't always like this. We all started out with second-hand cars and furniture and modest homes out in the boonies. It was normal to catch a bus or train to work, if they went in the right direction. We only drove if public transport was not available.

    Many items younger people cant live without were not available, such as air con in private homes. It was our first luxury expenditure item when it became available about ten to 15 years ago.
     
  11. joanmc

    joanmc Member

    Joined:
    28th May, 2009
    Messages:
    1,024
    Location:
    caboolture
    Same here.
    The way we saved with our first house that was a new build was we opted for no carpet, no tiles, no wardrobes, no grass, no driveway, no letterbox, no tv aerial, no wall cupboards in the kitchen. All of these we added in the 3 years we lived there, bit by bit.
    All our furniture was from the dump shop ( I still have that dining table:eek: it's considered an antique now and worth a fortune, lol).
    We had a black and white tv with rabbit ears.
    We froze that first winter on a concrete floor but to be honest we didn't really know any different as we both came from low income families and were just happy to have a place to call our own.
    We have never traveled overseas for a holiday together, our honeymoon was in my parents caravan.
    What some people on here consider to be a basic lifestyle is still way more than we have even with 9 houses
    I just want to add, that at the time it didn't feel like sacrifice, it was just what we had to do to achieve our goal of having our own home.
     
    Last edited: 5th Jun, 2015
  12. EN710

    EN710 Member

    Joined:
    10th Dec, 2011
    Messages:
    1,050
    Location:
    Sydney, NSW
    Uhm, not being able to see positive balance in my bank account?

    I don't drink
    I don't go to pubs
    I don't go partying
    I go holiday within means
    I eat out within means
    I choose area I can afford to live


    None of the above considered sacrifice though. Just common sense.
     
  13. Television

    Television Schemin' and dreamin'

    Joined:
    24th Dec, 2010
    Messages:
    565
    Location:
    The Wild West(ern Sydney), NSW
    I only bet on sure things down the track and have downgraded from coke to grass.
     
  14. Richard Feynman

    Richard Feynman Mortgage Broker

    Joined:
    17th Jun, 2012
    Messages:
    1,550
    Location:
    Sydney, NSW
    Nothing.

    I simply found alternative ways to be happy and content.
     
  15. WattleIdo

    WattleIdo Member

    Joined:
    5th Mar, 2014
    Messages:
    1,536
    Media:
    2
    Location:
    country NSW
    As RF said above.
    But also, I sacrificed city living. Which I sometimes miss. It was time for a change anyway and I love living out here.
    My sense of contentment increased, I've got the most satisfying job I've ever had (despite management and pay) and my level of happiness increased when I rescued/stole the neighbour's dog. Now have 2 dogs and 4 cats, 2 mins drive to work, an hour + walk with dogs every day - not unusual here but not easy to do in the big smoke.
     
  16. Deltaberry

    Deltaberry Member

    Joined:
    25th Sep, 2009
    Messages:
    4,893
    Location:
    Melbourne, Victoria
    Hmm not a great deal

    I started on high income I guess. First job was 150k+
     
  17. jim1964

    jim1964 Part Time Sheep Farmer

    Joined:
    30th Jul, 2012
    Messages:
    1,548
    Media:
    5
    Location:
    South Oz
    I sacrificed my 1st marriage not by choice.Worked 7 days a week,12 hour shifts day,afternoon,nights building car components for Holden,Ford,Mitsubishi to pay a 17% mortgage.My belief was i was getting the family ahead,in actual fact not being there enough caused irrevocable breakdown.
     
  18. Jins13

    Jins13 Member

    Joined:
    15th Nov, 2014
    Messages:
    64
    Location:
    NSW
    Sorry to hear that Jim :(. I was going down that path as well by working all the time too and using the little spare time and public holidays for research on properties and attending inspections for homes.
     
  19. Scott No Mates

    Scott No Mates ...and people wonder why?

    Joined:
    25th Jun, 2011
    Messages:
    5,391
    Media:
    144
    Location:
    Sydney - LNS
    A couple of virgins, 3 sheep and a lifestyle :D
     
  20. datto

    datto Member

    Joined:
    24th Dec, 2010
    Messages:
    8,804
    Media:
    8
    Location:
    sydney, westie - middle class bogan (MCB)
    A sane life.