ICTChris Posted June 27, 2016 Share Posted June 27, 2016 The ongoing collapse of the British economy and state has made me think about how secure I am financially and how well I could withstand a shock. I am in a relatively well-paid job and have a mortgage that's fairly big, as well as a couple of smaller loans that should be gone by the end of the year. My wife also works full time. Probably about 30% of our income goes on paying off our mortgage and other loans. I usually save about 10% of our monthly income by default, but could probably save a lot more if I planned it out. One thing that I'd like to do is diversify my income, maybe by investing in a second property, or more likely just finding some way to earn money in my spare time, to have a second source of money. I like the idea that Nassim Taleb has that a prostitute is more robust than a banker because he only has a single source of income. Not that I'm going to become a prostitute. I think. Any P&Bers worried about defaulting on their house and assessing their income in the current climate? Any P&Bers got any Martin Lewis-style money earning/saving tips? Any P&Bers want to invest in my sure fire stock market tip of buying Northern Rock shares, you can't lose? Link to comment Share on other sites More sharing options...
smpar Posted June 27, 2016 Share Posted June 27, 2016 smpar earns £10 an hour, champ. Link to comment Share on other sites More sharing options...
Lord Snooty Posted June 27, 2016 Share Posted June 27, 2016 Bleak. May have to sell Pater's old Strad. Link to comment Share on other sites More sharing options...
ICTChris Posted June 27, 2016 Author Share Posted June 27, 2016 smpar earns £10 an hour, champ. Ah, you've opted for the 'prostitution' financial plan. Still think you are overcharging. This isn't a 'boast about how much money you have' thread btw. There are plenty people I've worked with who have earned a fortune but are basically poor because they have gigantic mortgages or get a brand new Merc every year and have huge credit card bills. Link to comment Share on other sites More sharing options...
ayrmad Posted June 27, 2016 Share Posted June 27, 2016 The ongoing collapse of the British economy and state has made me think about how secure I am financially and how well I could withstand a shock. I am in a relatively well-paid job and have a mortgage that's fairly big, as well as a couple of smaller loans that should be gone by the end of the year. My wife also works full time. Probably about 30% of our income goes on paying off our mortgage and other loans. I usually save about 10% of our monthly income by default, but could probably save a lot more if I planned it out. One thing that I'd like to do is diversify my income, maybe by investing in a second property, or more likely just finding some way to earn money in my spare time, to have a second source of money. I like the idea that Nassim Taleb has that a prostitute is more robust than a banker because he only has a single source of income. Not that I'm going to become a prostitute. I think. Any P&Bers worried about defaulting on their house and assessing their income in the current climate? Any P&Bers got any Martin Lewis-style money earning/saving tips? Any P&Bers want to invest in my sure fire stock market tip of buying Northern Rock shares, you can't lose? I'm fine, I altered everything after the 2008 calamity and I intend to keep them like they are 'til I pop my clogs. Link to comment Share on other sites More sharing options...
throbber Posted June 27, 2016 Share Posted June 27, 2016 Good in assets and no debt apart from one year student loan. Got a wee bit in savings as does my Mrs who also has no debt and no student loan but we are around the zero mark in our current accounts by end of each month usually. Link to comment Share on other sites More sharing options...
smpar Posted June 27, 2016 Share Posted June 27, 2016 Ah, you've opted for the 'prostitution' financial plan. Still think you are overcharging. This isn't a 'boast about how much money you have' thread btw. There are plenty people I've worked with who have earned a fortune but are basically poor because they have gigantic mortgages or get a brand new Merc every year and have huge credit card bills. I hope the majority of folk get the HeartsDaft(?) reference anyway, otherwise I've just come across as a right dick (more so than usual.) Fully agree about the second part of your post there. There was a similar thread recently where folk said they have neighbours and friends who are constantly skint, despite earning >£60-70K between them, because they've gone for an extravagant mortgage and flash cars etc. Link to comment Share on other sites More sharing options...
ICTJohnboy Posted June 27, 2016 Share Posted June 27, 2016 Bleak. May have to sell Pater's old Strad. During the last financial crash I was forced into selling my father's old Strad - also a Rembrandt that had been in the family for many years. Sadly these items only raised £20 at auction. Why? Rembrandt was a lousy fiddle maker and Stradivarius couldn't paint. Link to comment Share on other sites More sharing options...
DDcups Posted June 27, 2016 Share Posted June 27, 2016 I'm skint because I pay the big bills at the end of the month. After I pay for 2 cars and house and utility's I'm left with around £250 but that goes on holidays or birthdays. I rely in pocket money from the gf for anything I need like top up on fuel or something. Im not cash rich but have a decent lifestyle. If I earned a extra 5k I would be happy. Link to comment Share on other sites More sharing options...
Bully Wee Villa Posted June 27, 2016 Share Posted June 27, 2016 Don't forget your roots, Mozzamozza. Link to comment Share on other sites More sharing options...
sjc Posted June 27, 2016 Share Posted June 27, 2016 Not worked since March and living off savings....feels weird not having a job to structure my day/week around. Link to comment Share on other sites More sharing options...
throbber Posted June 27, 2016 Share Posted June 27, 2016 My father in law earns silly money and is constantly going on about how skint he is and just a general tight arse. Link to comment Share on other sites More sharing options...
1320Lichtie Posted June 27, 2016 Share Posted June 27, 2016 Im in a secure job that's decent pay at the moment but scope to go a lot higher, which will eventually happen as the years go on/experience. I've literally just got a mortgage sorted due to start soon, it's a smallish loan considering and very manageable, I'll be in a position where I can comfortably over pay each month it if I want to. Other than my flat and the bills that will go with it I've got my car finance/tax/insurance and a phone contract. All relatively small time at the moment so I should hopefully be able to get by easily enough. I've found myself becoming quite sensible with money as the years have gone by thankfully. 2 year ago I was in a near 2k overdraft living at home and I still was going out near enough every single Friday and Saturday. A total idiot, but I think most people have been the same at some point in their lives. Link to comment Share on other sites More sharing options...
ICTChris Posted June 27, 2016 Author Share Posted June 27, 2016 My father in law earns silly money and is constantly going on about how skint he is and just a general tight arse. His wife spends all his money on plates. Link to comment Share on other sites More sharing options...
ayrmad Posted June 27, 2016 Share Posted June 27, 2016 £7.56 from 64p bet last night on Bet365. Im going places. Greggs. Link to comment Share on other sites More sharing options...
EdgarusQPFC Posted June 27, 2016 Share Posted June 27, 2016 Dead and buried Link to comment Share on other sites More sharing options...
throbber Posted June 27, 2016 Share Posted June 27, 2016 His wife spends all his money on plates. He isn't with the mother of my gf he has a new wife and I think her kids get priority as I'm sure he bought one of them a washing machine! Didn't get us anything for our move and when he comes round to ours only brings a couple beers for himself and a bottle of wine. He's quite fly as well, when we eventually run out of drink I say I'm going to shop and he pretends not to hear that I'm going so he doesn't need to contribute. Link to comment Share on other sites More sharing options...
Mark Connolly Posted June 27, 2016 Share Posted June 27, 2016 Chuck all your money in Northern Rock, then check out the Gambling Forum for some tips on accumulators. Link to comment Share on other sites More sharing options...
Cerberus Posted June 27, 2016 Share Posted June 27, 2016 Currently got my arse to rent on gumtree. Link to comment Share on other sites More sharing options...
ICTJohnboy Posted June 27, 2016 Share Posted June 27, 2016 Currently got my arse to rent on gumtree. You won't get much for that. Link to comment Share on other sites More sharing options...
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