Savings & Investments Attitude

[Sir Fynwy]

Brew dog?

Yes, they just opened the trading platform and shares are trading at over £130 each

[Guest MattP]

Oh go on then. 

 

 

Such a fantastic explanation of how much a bunch of crooks most of the brokers on WS are.

 

 

One of the best cameos in any film.

 

I have rinsed so much dough over the years it's pretty obscene. The most i've ever been in debt is about £15,000 which I paid off when one of my grandparents snuffed it. I vowed to be better with money and on the whole I am now as i've quit gambling 14 months ago but i'm still not great with money. Price you pay for being a complete cretin and not very clever, then i'd earn more money and be sensible and pass my Accountancy exams.

 

We are very similar. I was trying to work out how much I'd spunked on betting a couple of years back, I stopped when it started to touch six figures, wouldn't be surprised if you topped that.

[bovril]

https://www.youtube.com/watch?v=bWv6-L6V5gg

 

booo why won't my link show the video...

[Samilktray]

I wish I could save but I have the unfortunate attitude that you cant spend it when your dead.

[VLC86]

Yes, they just opened the trading platform and shares are trading at over £130 each

 

A couple of my mates got shares in these a while back. They don't half send you some rank beers through the post though, I had a salted caramel and popcorn one that could just as well have been called badgers arse and bleach.

[Trav Le Bleu]

I have savings. Proud of it too because, without posting anything, I'm in a better position that most people my age. When I first hit 16/17, I didn't buy anything big and it all saved up from my time working. I was then in a position where I could buy, for example, my own car and insurance when I passed my driving test (as I did). Friends do call me "tight", but I disagree and I just know I'm not an idiot with my money.

 

Again, I agree with the above post about credit cards. I don't particularly like paying on credit cards myself. I'd rather choose to have cash in hand when buying something because I've always felt having a card is like "virtual money". Like sometimes it makes you think you have more than you do.

 

 

Never saved a penny of anything and never really intended too either, wish I made a few investments in property and other valuables when I had a lot of disposable cash but why pay a deposit on a house when you can have a month travelling with your mates was the attitude I always took. Then again I never understood people who wanted to settle down to the 9-5 life in a cosy house in their early 20's anyway. You can do all that nonsense when you too old to do the fun parts.

 

All in all probably a bad move now given I earn far less than I used to but I also don't regret it, you can't put a price on memories and you only live once.

 

Reason why I never fitted in with any other accountants I worked with, they are generally the tightest bastards on the earth and I can't stand people like that.

 

MattP can't stand Fox92!   You heard it here first.

 

 

 

More seriously, wish I had looked after money better. When I was younger and worked in a bank I took out a large loan that I just frittered away on pointless stuff, pretty much all of which I no longer have. I've only just in the past few years got myself debt free and put away some savings - not much, but enough for emergencies and it's nice to know I've got that buffer (which had previously been mum and dad!)

[purpleronnie]

What on earth do people spend all their money on?  I just buy records and clothes, it leaves quite a bit left

[Jon the Hat]

I tend to focus on my pension, and a work share scheme as I am useless as saving otherwise.  I have 17% of my salary going into my pension - I am fortunate that when I put in 5%, my company puts in 12%. 

 

I have a car loan of about £12k, and some cards of about £10k.  Nothing to worry about on my salary but I should pay them off really.  Keep buying stuff for the house though. 

[MooseBreath]

It requires plenty of knowledge of the market, decent contacts and a lot of detachment, or a massive load of luck. I don't think I've been lucky this time but I do wish I'd bought more shares, profit was never in doubt.

The best bit is the shares are in a brewery and I've also saved 20% on all beer I've bought from them since investing.

It's all luck. Even professional fund managers don't often beat the market, and they've got teams of MBA and PhD analysts working for them full time. Of those who do occasionally beat the market, none do it consistently. If they can't do it, the average person can't either without luck or inside knowledge or both.

[Jon the Hat]

What on earth do people spend all their money on?  I just buy records and clothes, it leaves quite a bit left

 

Mortgage

Utilities

Cars

Phones

Food

Clothes

Wine

Holidays

School fees

School uniforms

Neverending kids shoes & clothes

Ballet lessons and so on for the kids

[purpleronnie]

Mortgage

Utilities

Cars

Phones

Food

Clothes

Wine

Holidays

School fees

School uniforms

Vevering kids shoes & clothes

Ballet lessons and so on for the kids

kid's.... of course, I was really referring to those on here who are single with no kids.

 

I would gladly have no savings and and family of my own though......violins.

[VLC86]

Mortgage

Utilities

Cars

Phones

Food

Clothes

Wine

Holidays

School fees

School uniforms

Neverending kids shoes & clothes

Ballet lessons and so on for the kids

 

Football!

[Samilktray]

What on earth do people spend all their money on? I just buy records and clothes, it leaves quite a bit left

Things that I'll probably look back on in 10 years with a lot of disgust and regret.

[Sir Fynwy]

It's all luck. Even professional fund managers don't often beat the market, and they've got teams of MBA and PhD analysts working for them full time. Of those who do occasionally beat the market, none do it consistently. If they can't do it, the average person can't either without luck or inside knowledge or both.

Well I must be one lucky bastard, I buy shares reasonably regularly and have never made less than 15% profit on them over a 12 month investment. I don't manage anyone else's money though and have some decent contacts and time to research what I'm buying.

[Guest MattP]

Well I must be one lucky bastard, I buy shares reasonably regularly and have never made less than 15% profit on them over a 12 month investment. I don't manage anyone else's money though and have some decent contacts and time to research what I'm buying.

 

You are one amazing guy. there doesn't seem to be a single subject or situation in the World that you haven't cracked or aren't completely omniscient of.

 

I salute you Sir Fynwy.

[Sir Fynwy]

You are one amazing guy. there doesn't seem to be a single subject or situation in the World that you haven't cracked or aren't completely omniscient of.

I salute you Sir Fynwy.

Haha, sorry mate bought some well dodgy cars in the past and spent tons of cash on crap tech stuff to try it out. I'm also fairly crap at gambling because I get really bored.

I can't sell the house I've been trying to get rid of for 2 years either.

[Bluefoxtim]

I've a fair bit stashed away - currently on a 0.5% interest rated with Natwest - never seem to get round to switching ISA's :X

 

Will look to buy a house in the next year or two - will be well timed with increase rates undoubtedly going back up   

[Guest MattP]

Haha, sorry mate bought some well dodgy cars in the past and spent tons of cash on crap tech stuff to try it out. I'm also fairly crap at gambling because I get really bored.

 

Very reassuring to all concerned.

 

I'm convinced gambling is the hardest thing in the World to be good at, the tipping is actually quite easy as daft as it sounds, it's having the discipline of controlling the money and sticking to a sensible staking plan that lets most knowledgable sports fans down.

[Webbo]

No point having savings if you've got a mortgage, you're far better off making over payments on that.

[Sir Fynwy]

No point having savings if you've got a mortgage, you're far better off making over payments on that.

My dad always said that a mortgage is the cheapest credit you'll ever get so max it out and pay as slow as possible, funny how none of his kids took that advice.

[Jon the Hat]

No point having savings if you've got a mortgage, you're far better off making over payments on that.

 

Unless you are talking pensions when your employer is matching what you save and you are paying no tax on it.  Also share schemes can be pretty good.  Other than that I agree.

[Webbo]

My dad always said that a mortgage is the cheapest credit you'll ever get so max it out and pay as slow as possible, funny how none of his kids took that advice.

My dad used to say the same but there was tax relief on mortgages in those days. I think our mortgage rate is 4.9% (I know I could probably do better) the interest on saving is next to nothing. We're a few thousand in front on our mortgage, if I was ever desperate I could get my hands on it..

 

Unless you are talking pensions when your employer is matching what you save and you are paying no tax on it.  Also share schemes can be pretty good.  Other than that I agree.

Fair point.

[jonthefox]

I tend to focus on my pension, and a work share scheme as I am useless as saving otherwise. I have 17% of my salary going into my pension - I am fortunate that when I put in 5%, my company puts in 12%.

I have a car loan of about £12k, and some cards of about £10k. Nothing to worry about on my salary but I should pay them off really. Keep buying stuff for the house though.

Nice bosses you have. I bought my first house at 19. All my friends said I was mad, and at first I did regret it a little. Now were all in our forties and I'm very proud of the fact I live in a £300 k house .

Just the pension to work on now.

[Jon the Hat]

Nice bosses you have. I bought my first house at 19. All my friends said I was mad, and at first I did regret it a little. Now were all in our forties and I'm very proud of the fact I live in a £300 k house .

Just the pension to work on now.

 

It helps being pretty senior.  I wish I had bought a house when i was much younger.  Just about everyone I know has at least a couple of hundred grand of equity more than me due to buying a flat in London or suburbs of and selling 4-5 years later for double the money.

[MooseBreath]

Well I must be one lucky bastard, I buy shares reasonably regularly and have never made less than 15% profit on them over a 12 month investment. I don't manage anyone else's money though and have some decent contacts and time to research what I'm buying.

Well that certainly puts you in the minority. Being able to deliver a return of at least 15% per annum over the long term would put you comfortably among the likes of Warren Buffett and Neil Woodford as the best investors in the world. If you could replicate anywhere near that level of performance with the amount of money held in even a small investment fund then quit your day job right now mate because you could be earning literally millions every year working for a fund or investment bank.