Guest DustyDeviada Posted February 2, 2006 Report Share Posted February 2, 2006 Never a borrower nor a lender be, that's what my old granny used to say.Stupid old cow, her house was a fucking dump. Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 I've spent the past 3 years debating this with banks involving lots of excel sheets' date=' waffling, tears etc...I don't care what i want the money for now, I just want it.[/quote']Ah, in which case you need to invest in a balaclava and a sawn off shotgun Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 Never a borrower nor a lender be' date=' that's what my old granny used to say.Stupid old cow, her house was a fucking dump.[/quote']Same here....hence!! Quote Link to comment Share on other sites More sharing options...
Guest DustyDeviada Posted February 2, 2006 Report Share Posted February 2, 2006 In all seriousness, and I know that sometimes people have no choice, I would seriously recommend to people that they avoid taking out loans if at all possible. Being in debt is a total pain in the arse, I've been paying off my student loans now for 4 years, and in all honesty I could have lived without them. Credit cards are too easy to get a hold of now as well, especially with 0% interest offers. You think, "Oh great, I can buy a new guitar/clothes/hifi etc and have ages to pay it back", but paying it back is crappy.So there you go kids, Uncle Dusty says stay debt free. Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 I simply refuse to take a loan (excluding student loans), get a credit card or even accept a store card.My philosophy has always been that if I cannot pay for it out of the money I already have, then I cannot buy it.Although I can kind of see why the banks might be reluctant to loan you money Keilan.Bank manager: "So, Mr Knight, you want us to give you £10,000. What is it you need this money for?"Keilan: "That's my business, just give me the money." Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 I simply refuse to take a loan (excluding student loans)' date=' get a credit card or even accept a store card.My philosophy has always been that if I cannot pay for it out of the money I already have, then I cannot buy it.[/quote']I agree with this, and this is how I have been living for the past 4 or so years...but depending on your circumstances, this can become very impractical. Who the hell, on a normal salary, can afford to put their hand in their pocket and pay for a car or a deposit on a new flat?Although I can kind of see why the banks might be reluctant to loan you money Keilan.Bank manager: "So' date=' Mr Knight, you want us to give you £10,000. What is it you need this money for?"Keilan: "That's my business, just give me the money."[/quote']Heh, as I said, this has alread been discussed with many a bank, I prefer not to disclose too much about my personal life on the internet however.. Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 I agree with this' date=' and this is how I have been living for the past 4 or so years...but depending on your circumstances, this can become very impractical. Who the hell, on a normal salary, can afford to put their hand in their pocket and pay for a car or a deposit on a new flat?[/quote']You can pay for a car on an installment basis, or buy one second hand, without needing to take out a loan.Take my impending wedding for example, it is going to cost a fair whack, but by paying things off over a period of time we're managing without the need for borrowing huge sums.Once the wedding is out of the way we will get our flat properly decorated and fixed up and start saving for a deposit on a house, thereby negating the need to take out an excessive loan.Heh, as I said, this has alread been discussed with many a bank, I prefer not to disclose too much about my personal life on the internet however..Yet you have no problems asking people to borrow 10,000 for you? Quote Link to comment Share on other sites More sharing options...
Guest DustyDeviada Posted February 2, 2006 Report Share Posted February 2, 2006 I agree with this' date=' and this is how I have been living for the past 4 or so years...but depending on your circumstances, this can become very impractical. Who the hell, on a normal salary, can afford to put their hand in their pocket and pay for a car or a deposit on a new flat?[/quote']Taking out a bank loan to put a deposit on another big loan, ie a mortgage would be a bad idea IMO.Credit cards can be a handy way of juggling your finances if you are disciplined enough to pay the bill in full every month, you can get something like 60 days interest free credit that way. But you have to be sure that you are strong enough to pay the bill. Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 there are some people who are paying a deposit on a house via a credit card, which is pretty stupid really, but shows how desperate the housing market has become! Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 Taking out a bank loan to put a deposit on another big loan' date=' ie a mortgage would be a bad idea IMO.[/quote']dear lord, I wasn't thinking of a mortgage....now thats a stupid amount of money to borrow!!! Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 You can pay for a car on an installment basis' date=' or buy one second hand, without needing to take out a loan.[/quote']I can't pay for anything on installments....even car insurance I would have to pay full whack. And with quotes at over £2000.....I need a car now, not 2010And second hand cars still cost money.... Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 dear lord' date=' I wasn't thinking of a mortgage....now thats a stupid amount of money to borrow!!![/quote']Yes, but, unless you are stinking rich, a necessary evil.Also there is the potential to make money back when you sell your property, whereas renting a property yields no return. Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 Yes' date=' but, unless you are stinking rich, a necessary evil.Also there is the potential to make money back when you sell your property, whereas renting a property yields no return.[/quote']Theres no return on negative equity....which at the stupid prices houses are just now, is exactly what everyone is buying themself into.there are some people who are paying a deposit on a house via a credit card' date=' which is pretty stupid really, but shows how desperate the housing market has become![/quote']If they "stooz" that balance....they're making a smart move. Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 A lot of people.... it's called saving like fuck for several years' date=' using high interest saving accounts and so forth.[/quote']Thats fine if you don't mind living like a hermit for several years.... Quote Link to comment Share on other sites More sharing options...
Guest DustyDeviada Posted February 2, 2006 Report Share Posted February 2, 2006 You can pay for a car on an installment basisYou can't really pay for a car on installments, you can buy them on hire purchase at an excessive interest rate to the finance company, which is effectively the same as taking a loan - but with a higher interest rate.Usually you are cheaper taking a bank loan to buy the car in the long run.Anyhoo, I think this is destined to be as successful as Keilan's similarly themed "Please Buy Me This Guitar" thread. If the banks (who have loads of money and have to write off millions of bad debts every year) don't trust you to pay them back, why do you think anybody on here will? Quote Link to comment Share on other sites More sharing options...
Guest DustyDeviada Posted February 2, 2006 Report Share Posted February 2, 2006 Theres no return on negative equity....which at the stupid prices houses are just now' date=' is exactly what everyone is buying themself into.[/quote']I don't think so, there simply aren't enough houses in Aberdeen, so until a lot more are built the market's just going to keep going up.It will tail off eventually, but there's just no way it's going to crash spectacularly and leave people in a negativy equity situation, no way. Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 Anyhoo' date=' I think this is destined to be as successful as Keilan's similarly themed "Please Buy Me This Guitar" thread. If the banks (who have loads of money and have to write off millions of bad debts every year) don't trust you to pay them back, why do you think anybody on here will?[/quote']hehe...you're right.Its not that the banks don't trust me though, believe me, they're more than keen to pour it on when they hear my proposition.....but "computer says no..." Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 I don't think so' date=' there simply aren't enough houses in Aberdeen, so until a lot more are built the market's just going to keep going up.It will tail off eventually, but there's just no way it's going to crash spectacularly and leave people in a negativy equity situation, no way.[/quote']This works both ways though...the more the prices go up and up and up....the less people that will be able to afford them, so those idiots who believe in the magical "property ladder" will be stuck in their crap "ideal first time buyer" house for 25 years until which time they are forced to sell it for £25k to pay for their bypass...The future scares the shit out of me... Quote Link to comment Share on other sites More sharing options...
Monk Rocker Posted February 2, 2006 Report Share Posted February 2, 2006 Thats fine if you don't mind living like a hermit for several years....Depends how badly you want something..... Quote Link to comment Share on other sites More sharing options...
Monk Rocker Posted February 2, 2006 Report Share Posted February 2, 2006 Seconded.If you want someone badly then you'll do what is necessary to get it.A wee bitty Freudian that!! Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 Whats wrong with borrowing and getting something now when you need it as opposed saving money forever until you've lost the will to live and have lived on so much beans on toast that you turn into a tin of beans?Ok so you pay a bit more back in interest, but hey, whats more valuable to you, time or money?! To me.....it's TIME!!! Quote Link to comment Share on other sites More sharing options...
Monk Rocker Posted February 2, 2006 Report Share Posted February 2, 2006 Nowt wrong with borrowing at all. The point I was trying to make is that if you can't borrow the money, and you really want something you will be prepared to wait.I know what it's like - I'm the worlds worst sufferer of the old I want it now syndrome!!! Quote Link to comment Share on other sites More sharing options...
threeornothing Posted February 2, 2006 Author Report Share Posted February 2, 2006 I'm not the only one suffering for my lack of money...I've also had an arrest on my earnings for so long now that I have learned to live without a lot of money, that it would be nice to actually see something for it instead Quote Link to comment Share on other sites More sharing options...
Guest Main Agent Posted February 2, 2006 Report Share Posted February 2, 2006 I'm not the only one suffering for my lack of money...I've also had an arrest on my earnings for so long now that I have learned to live without a lot of money' date=' that it would be nice to actually see something for it instead[/quote']Do not get blinded by false promise.Patience, Grasshopper, Patience.... Quote Link to comment Share on other sites More sharing options...
Guest tv tanned Posted February 2, 2006 Report Share Posted February 2, 2006 I prefer not to disclose too much about my personal life on the internet however.. and then...I've also had an arrest on my earnings for so long now that I have learned to live without a lot of money' date=' that it would be nice to actually see something for it instead[/quote']o_O Quote Link to comment Share on other sites More sharing options...
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