No but there’s definitely some great things you can buy for £1.8k that I’d rather have than a daily ice latte
I got turned down on a mortgage for a shared ownership new build. I had a £15k deposit. My boomer Dad, said it was because I am wasting money on Netflix and Disney +. He still can’t fathom that in the 70s it was 3.5 times his wages and now it at least 10.5 times.
And yet, that frappe is just one of the completely unnecessary things you’ll be buying daily. People need to break free of the copium and fully analyse the problem, only then can you begin to correct it. It’s the only way to stop getting completely ripped off by ALL these companies and be able to get on with your life with the peace of mind that you actually have some financial security should anything bad occur.
I’m more worried about their lack of understanding of compound interest
For real though, when are people gonna stop and realise hey why are we paying £5 for a coffee. If we keep buying it blindly the companies will keep increasing it. I know prices have gone up everywhere, but I was shocked on my last and final visit to Starbucks. Fucking hell. Need to draw a line somewhere
Its almost as if society has forgotten how to feed and water themselves at home with fresh groceries bought from local stores.
£5 for a cup of flavoured water? I moved away from the UK several years ago, are prices really that high?
except it is more than enough with help to buy so.
Also in just a base ISA at 3.5%
it would be £21,660, £3,560
With a help 2 buy guaranteed mortgage you could get up to £420,000.
Delonghi bean to cup 342.72 is about two months worth with about a tenners worth of beans and another tenner for milk lets chuck in syrup too – 1825-120-120-60= 1525 left over
Back in my day the youth spent it on weed E booze cigs and smiley face t shirts. What has become of our youth?
I know I’ll get down voted but…
It’s not avocadoes and lattes that are killing the dream of home ownership for the young.
It’s gym memberships that cost £2,000 a year and taking x3 foreign holidays a year and expecting to live in London.
For those boomers who try to use the latte logic I have to ask where they draw the line. We could all live like those extreme cheapskate people but at a certain point when you and your partner are using the neighbours hose for a paddling pool bath/dish wash you have to wonder if years of misery is worth hitting your goal only slightly sooner.
It’s a shit state of affairs when people are told to avoid luxeries so they can afford what should be a right. People should be able to afford both, but greedy billionaires want more money.
Luigi was a hero
How is 18 grand not enough for a deposit??
The secret is to drink 6 coffees a day then stop, the money you save will be enough for a deposit.
I know this is supposed to be ironic, but it seems like it’s proving the opposite of what it’s trying to.
Because I’m going to put all my money in a piggy bank for 10 years waiting and letting inflation fuck me in the arse ?
When i was 14 i worked in a cafe tea was 22p a cup and coffee was 27p, i got paid £1 an hour, things have not really changed im not a coffee drinker but at £5 a cup and i get paid just over £15 an hour, i still get 3 cups of coffee an hour, just back then i could have a Mars bar to go with it, the little bit over the £15 i get would only get a 3rd of a Mars bar now. But i now feel sad, i have gone from serving coffee and washing dishes, to being a Manager and held nice respectable jobs for the past 30 years or more and still I’m only getting 3 cups of coffee an hour.
However, it is about 400 calories. Which across the year, all else being equal, means I would put on a bit over 18kg.
I think I’ll take the £18k rather than the 18kg.
Actually, depending on where you are looking, you could put a deposit on a house with £18k
Uuuuh
I’ve seen some British comedy show a long time ago where the realtor was offering to rent an affordable living space in his armpit. Does anyone remember the show?
I hate this example because £5 a day on an iced latte really is kind of a waste of money. We are talking something that costs pennies to produce, the most expensive aspect being labour (which likely isn’t even been paid for fairly)
You could buy a machine that makes iced latte’s for a fraction of the cost. You’d pay back that machine in 2-3 months of use. People have no concept of budgeting, and it is concerning.
I wish we didn’t have to choose between struggling or struggling differently
Clearly hasn’t heard of compound interest. Factor in iced latte price is also more likely to rise at well above general inflation and at some point house prices will fall slightly. Stuck it into a lifetime isa and the government contributes an extra 25%on annual deposits of £4k. Cut out £10 a day for your lunch and bring a sandwich to work. Sorted.
Or just keep buying iced lattes until your folks die and you inherit their place. You could be a pensioner yourself by the time that happens though.
It is in the North east
That’s enough for a deposit where I live tbh
Have you thought about compound interest if you had put it in savings and stocks? No you havent coz u dont want to be rich and always have that victim mentality. Do better.
/s
But wont be surprised if there are people who think like this
Who spends £5 on a latte??? Pretty sure my local cafe costs like £3.80 or something.
You need to calculate interest on this, and then account for inflation and overall buying power dropping.
So it’s actually more grim than they make out.
Save up 18k+ interest over 10 years? Congrats, now it’s worth half that.
As much as I enjoy a Nero’s or Starbucks Mocha I’ll stick with making my own black coffee most of the time. Was lucky to get my house with my partner before the actual biggest finance drain came along (2 boys 😂).
32 comments
No but there’s definitely some great things you can buy for £1.8k that I’d rather have than a daily ice latte
I got turned down on a mortgage for a shared ownership new build. I had a £15k deposit. My boomer Dad, said it was because I am wasting money on Netflix and Disney +. He still can’t fathom that in the 70s it was 3.5 times his wages and now it at least 10.5 times.
And yet, that frappe is just one of the completely unnecessary things you’ll be buying daily. People need to break free of the copium and fully analyse the problem, only then can you begin to correct it. It’s the only way to stop getting completely ripped off by ALL these companies and be able to get on with your life with the peace of mind that you actually have some financial security should anything bad occur.
I’m more worried about their lack of understanding of compound interest
For real though, when are people gonna stop and realise hey why are we paying £5 for a coffee. If we keep buying it blindly the companies will keep increasing it. I know prices have gone up everywhere, but I was shocked on my last and final visit to Starbucks. Fucking hell. Need to draw a line somewhere
Its almost as if society has forgotten how to feed and water themselves at home with fresh groceries bought from local stores.
£5 for a cup of flavoured water? I moved away from the UK several years ago, are prices really that high?
except it is more than enough with help to buy so.
Also in just a base ISA at 3.5%
it would be £21,660, £3,560
With a help 2 buy guaranteed mortgage you could get up to £420,000.
Delonghi bean to cup 342.72 is about two months worth with about a tenners worth of beans and another tenner for milk lets chuck in syrup too – 1825-120-120-60= 1525 left over
Back in my day the youth spent it on weed E booze cigs and smiley face t shirts. What has become of our youth?
I know I’ll get down voted but…
It’s not avocadoes and lattes that are killing the dream of home ownership for the young.
It’s gym memberships that cost £2,000 a year and taking x3 foreign holidays a year and expecting to live in London.
You can buy a flat in Motherwell for £50,000.
https://www.rightmove.co.uk/properties/159423305#/?channel=RES_BUY
For those boomers who try to use the latte logic I have to ask where they draw the line. We could all live like those extreme cheapskate people but at a certain point when you and your partner are using the neighbours hose for a paddling pool bath/dish wash you have to wonder if years of misery is worth hitting your goal only slightly sooner.
It’s a shit state of affairs when people are told to avoid luxeries so they can afford what should be a right. People should be able to afford both, but greedy billionaires want more money.
Luigi was a hero
How is 18 grand not enough for a deposit??
The secret is to drink 6 coffees a day then stop, the money you save will be enough for a deposit.
I know this is supposed to be ironic, but it seems like it’s proving the opposite of what it’s trying to.
Because I’m going to put all my money in a piggy bank for 10 years waiting and letting inflation fuck me in the arse ?
When i was 14 i worked in a cafe tea was 22p a cup and coffee was 27p, i got paid £1 an hour, things have not really changed im not a coffee drinker but at £5 a cup and i get paid just over £15 an hour, i still get 3 cups of coffee an hour, just back then i could have a Mars bar to go with it, the little bit over the £15 i get would only get a 3rd of a Mars bar now. But i now feel sad, i have gone from serving coffee and washing dishes, to being a Manager and held nice respectable jobs for the past 30 years or more and still I’m only getting 3 cups of coffee an hour.
However, it is about 400 calories. Which across the year, all else being equal, means I would put on a bit over 18kg.
I think I’ll take the £18k rather than the 18kg.
Actually, depending on where you are looking, you could put a deposit on a house with £18k
Uuuuh
I’ve seen some British comedy show a long time ago where the realtor was offering to rent an affordable living space in his armpit. Does anyone remember the show?
I hate this example because £5 a day on an iced latte really is kind of a waste of money. We are talking something that costs pennies to produce, the most expensive aspect being labour (which likely isn’t even been paid for fairly)
You could buy a machine that makes iced latte’s for a fraction of the cost. You’d pay back that machine in 2-3 months of use. People have no concept of budgeting, and it is concerning.
I wish we didn’t have to choose between struggling or struggling differently
Clearly hasn’t heard of compound interest. Factor in iced latte price is also more likely to rise at well above general inflation and at some point house prices will fall slightly. Stuck it into a lifetime isa and the government contributes an extra 25%on annual deposits of £4k. Cut out £10 a day for your lunch and bring a sandwich to work. Sorted.
Or just keep buying iced lattes until your folks die and you inherit their place. You could be a pensioner yourself by the time that happens though.
It is in the North east
That’s enough for a deposit where I live tbh
Have you thought about compound interest if you had put it in savings and stocks? No you havent coz u dont want to be rich and always have that victim mentality. Do better.
/s
But wont be surprised if there are people who think like this
Who spends £5 on a latte??? Pretty sure my local cafe costs like £3.80 or something.
You need to calculate interest on this, and then account for inflation and overall buying power dropping.
So it’s actually more grim than they make out.
Save up 18k+ interest over 10 years? Congrats, now it’s worth half that.
As much as I enjoy a Nero’s or Starbucks Mocha I’ll stick with making my own black coffee most of the time. Was lucky to get my house with my partner before the actual biggest finance drain came along (2 boys 😂).
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