The economy and whether it has affected you

[Topblag]

The big issue I see is people being asked to do the work of two people, which as far as I can see means things don't get done properly and the cost of providing goods and services ultimately goes up. It appears that bosses don't have any thought for their staff, who end up overworked, stressed and that affects health and relationships.

I tend to be cash poor and asset rich, making sure my money is invested in something reliable which will provide a gain - that's property and rare e30s. Time will tell.....

[kieran325]

The ones I feel sorry are the ones who drip themselves up to make them look good to friends and neighbours etc.

No matter what life throws at you, you'll survive and the luxuries that once were have disappeared, thus making way for the basic way of living and you cut your cloth accordingly.

[Jesus325iTouring]

The recession hasn't really affected me, I had foook all before it and I still have foook all now

The last 3-4 years have been very tough, a lot tougher than the other 20 years I have spent in the building trade... surely it can only get better ?
I hope !

Same as mate, but the building trade is kicking right off down here

I have 2nd fixes coming out of my arse.

it is picking up even in the north Chris, the work is there sadly the money isn't !

I probably earn less now than what i did back in 2001, but times were good back then.. luckily i was shrewd and bought property, 2 of them are almost paid for and the biggest house almost 60% paid for..
I have assets but no spare cash, it's tough paying the bills but i always find it through determination and working 6-7 days a week,

What i really feel sorry for are the young guns, they simply don't have a chance to get a foot on the ladder in the current climate, I would hate to be starting out in these times if i was 20+ years old, the poor foookers don't have a chance

I guess this is why i've made a success of my business, my charges are waaaaaaaaaaaaay to low and I have have to work a lot of hours, not much better than minimum wage really, but the offset of that is, people are queuing up for me to work for them and I have better job/work security than I would working for one company, always wondering when I'd be made redundunt. Not to mention, I don't like working with other people, other people get on my tits

[Grrrmachine]

The ones I feel sorry are the ones who drip themselves up to make them look good to friends and neighbours etc.

This.

I'm in the middle of buying another property, and the missus and I submitted our financial statements to the bank for credit checking. The bloke's eyes were like saucers: "You have NO credit cards, NO personal loans, NO leasing, NO hire-purchase, NO student debt... other than your existing mortgage, you have no debt AT ALL?"

Seems everyone else lives on tick, and they're paying the price for it.

[spook]

I'm in the middle of buying another property, and the missus and I submitted our financial statements to the bank for credit checking. The bloke's eyes were like saucers: "You have NO credit cards, NO personal loans, NO leasing, NO hire-purchase, NO student debt... other than your existing mortgage, you have no debt AT ALL?"

And then they turned you down

[spook]

If the building games picking up in the North it wont be long before the money increases.

[Rtaylor2208]

The ones I feel sorry are the ones who drip themselves up to make them look good to friends and neighbours etc.

This.

I'm in the middle of buying another property, and the missus and I submitted our financial statements to the bank for credit checking. The bloke's eyes were like saucers: "You have NO credit cards, NO personal loans, NO leasing, NO hire-purchase, NO student debt... other than your existing mortgage, you have no debt AT ALL?"

Seems everyone else lives on tick, and they're paying the price for it.

We are finally in that situation after paying everything off to fund our house move. It makes all the difference when applying for a mortgage.

[Andyboy]

The ones I feel sorry are the ones who drip themselves up to make them look good to friends and neighbours etc.

This.

I'm in the middle of buying another property, and the missus and I submitted our financial statements to the bank for credit checking. The bloke's eyes were like saucers: "You have NO credit cards, NO personal loans, NO leasing, NO hire-purchase, NO student debt... other than your existing mortgage, you have no debt AT ALL?"

Seems everyone else lives on tick, and they're paying the price for it.

Same as me. I have two properties without mortgage, savings, four cars (not all taxed at once!) and was self employed for years with the odd PAYE now and then. Self employment went well and truly tits up last year because my line of work just failed to pay and I can't live on £1000 a month. I'm now PAYE for four days a week and am careful not to earn over £9500 a year on self employed stuff (after business expenses) so I don't pay any tax on it.
I have never had a credit card, mortgage or bank loan. I bought the TV and washing machine on Tick just to establish a credit rating.
I'm buying another house with ther Mrs this or next year and with my assets (not as any kind of security - f uck that) I'm hoping to get a decent mortgage deal, £20k down on a £120'000 house.

I hope the Tories get back in, and shake off those fucking LibDems. Osborne is doing a very good job of sorting out an appalling mess - long may he continue, and bollocks to the austerity whiners. If everyone had lived within their means the UK would be in a much better state. Hopefully having to live without 55" plasmas and Galaxy Notes, £150 trainers and a house worth more than they can ever hope to pay back before Doomsday will teach them a lesson.

[spook]

Well said Andy.

[steve_k]

Grrrmachine. I know what you mean about not having any debt

Everything I own is paid for outright, took having credit it's like a monkey on your back, always made sure that I'm debt free, don't care about a credit rating don't see the point,

The fools who buy everything on the never never (incl the weekly shop) are the one's who will suffer the most in the end.

[kieran325]

Debt is not a bad thing if you can manage it well, it's when you can't manage then it becomes a hindrance.

There's cracking credit cards deal to be had out there like interest free purchase for 12 months and so on. I've bought several big purchases over the years using credit cards and if you clear the debt within the allocated time and don't default on payments then treat them as free 0% loans.

[Simon13]

i've bought 10 additional houses since 2009 its hard to choose which one to sleep in at night sometimes

its hard down south in surrey in the engine room of the country, i just go to work everyday and all is ok.

[TPS]

I hope the Tories get back in, and shake off those ******* LibDems. Osborne is doing a very good job of sorting out an appalling mess - long may he continue, and bollocks to the austerity whiners. If everyone had lived within their means the UK would be in a much better state. Hopefully having to live without 55" plasmas and Galaxy Notes, £150 trainers and a house worth more than they can ever hope to pay back before Doomsday will teach them a lesson.

Very well put, I hope so, it'll take a while for this Benefits Street culture which 13 years of Labour Government managed to introduce. I find it funny that Millipede has the nerve to moan about bankers during the week, as it was the Labour party, that did nothing about it, when they had power.

[Speedtouch]

Same as me. I have two properties without mortgage, savings, four cars (not all taxed at once!) and was self employed for years with the odd PAYE now and then. Self employment went well and truly tits up last year because my line of work just failed to pay and I can't live on £1000 a month. I'm now PAYE for four days a week and am careful not to earn over £9500 a year on self employed stuff (after business expenses) so I don't pay any tax on it.
I have never had a credit card, mortgage or bank loan. I bought the TV and washing machine on Tick just to establish a credit rating.
I'm buying another house with ther Mrs this or next year and with my assets (not as any kind of security - f uck that) I'm hoping to get a decent mortgage deal, £20k down on a £120'000 house.

I reckon Andyboy must be a crime-lord on the side, with his books and magazine articles to present a respectable 'front'.

[Gert_8]

Any kids Andyboy?

[pacerpete]

Any kids Andyboy?

He's had a few !

[Gert_8]

Any kids Andyboy?

He's had a few !

[Andyboy]

Any kids Andyboy?

Just my child bride.

[Gert_8]

Any kids Andyboy?

Just my child bride.

I suspected as much. Kids would have drained you dry.

[Andyboy]

Same as me. I have two properties without mortgage, savings, four cars (not all taxed at once!) and was self employed for years with the odd PAYE now and then. Self employment went well and truly tits up last year because my line of work just failed to pay and I can't live on £1000 a month. I'm now PAYE for four days a week and am careful not to earn over £9500 a year on self employed stuff (after business expenses) so I don't pay any tax on it.
I have never had a credit card, mortgage or bank loan. I bought the TV and washing machine on Tick just to establish a credit rating.
I'm buying another house with ther Mrs this or next year and with my assets (not as any kind of security - f uck that) I'm hoping to get a decent mortgage deal, £20k down on a £120'000 house.

I reckon Andyboy must be a crime-lord on the side, with his books and magazine articles to present a respectable 'front'.

Hardly. The bricks/mortar are worth around £130k combined and the cars are worth £3500 tops for all four. I aimed low!
But everything is paid for and I want to retire and have a reasonable income - the Wife's.

[Speedtouch]

Ah, maybe it was just that big ol' 730i barge that you smoked about in, running on da gangstaline, that gave me that impression!

[Cotty]

Not really been affected by it apart from no wage rise in 4 years. Mortgage at 36k so if the interest rate changes I don't really notice it. It will be paid off in 7 years anyway.

I was getting bonuses instead of wage rises, the money was doing nothing with interest rates so low so I bought an Elise. That will shortly be going as with two cars and train to work im just not getting the use out of both of them.

I would like to retire at 55, so 12 years to go. No wife, no children, house will be paid off, no debts, no credit cards etc hope its doable

[Rav335uk]

I've been affected work wise.
house is paid off, so that front is covered.
Bills are a pain in the arse atm, and the missus was let go last year from her job.
And finding work down here isn't easy if you want a decent wage.
There's plenty here for shite money, but fook that.

Why should someone have an outstanding bathroom for 1/2 the price....

But like others in the building trade, it's coming in thick and fast atm.
So let the good times roll again.

[Grrrmachine]

On the one hand, I've gone from pay rise to pay rise (changed job and got a big hourly increase). On the other, the mortgage market is tighter than a duck's arse but house prices here aren't falling, so even though the missus and I are comfortably in the top 5% of wage earners in Poland, we still can't afford a 3-bed flat in Warsaw.

Prices here are more expensive than Berlin, even though no-one's got the money to buy anything

[fender182]

Not really been affected by it as I'm still living with my mum but looking to move out this year. House prices are fooking ridiculos! for a 2 bed house I'm looking at £300,000. Even if i want a 2 bed flat there still asking strong money with only 1 parking space. I've not looked in to the mortgage stuff to deeply yet but even at 4odd% id be paying back around £1400 a month.

What affects the interest rate going up? Sorry not to clued up on this banking stuff.

[suedenim]

On the one hand, I've gone from pay rise to pay rise (changed job and got a big hourly increase). On the other, the mortgage market is tighter than a duck's arse but house prices here aren't falling, so even though the missus and I are comfortably in the top 5% of wage earners in Poland, we still can't afford a 3-bed flat in Warsaw.

Prices here are more expensive than Berlin, even though no-one's got the money to buy anything

Is the market in Warsaw being driven by ex-pat Poles investing in the capital, along with buying family members govt housing on credit card levels of borrowing?

[suedenim]

On the one hand, I've gone from pay rise to pay rise (changed job and got a big hourly increase). On the other, the mortgage market is tighter than a duck's arse but house prices here aren't falling, so even though the missus and I are comfortably in the top 5% of wage earners in Poland, we still can't afford a 3-bed flat in Warsaw.

Prices here are more expensive than Berlin, even though no-one's got the money to buy anything

Is the market in Warsaw being driven by ex-pat Poles investing in the capital, along with buying family members govt housing on credit card levels of borrowing?

[Grrrmachine]

The market isn't being driven by anything. No-one's buying and no-one's selling. Developers aren't building properties for my sector (3 beds, close to the city centre, over 80m2), and the owners of the old ones bought theirs for cash 20 years ago so don't have any pressure to sell. This means prices have stayed exactly where they were since the peak of 2008.

Ex-pat Poles are chucking their money into massive ugly detached houses in satellite villages, as they'd rather have a 90-minute commute each way and have no neighbours rather than live a 10-minute walk to work and live in a flat. Seems daft to me, but that's just the way this society is.

[Rav335uk]

Rav in London if you want a decent builder you need to book up 6 months to a year in advance its ridiculous.

Well so far, I'm only booked 3 months in advance.