Disposable Income Gone

hurler32

Looking at some of my younger colleagues and across industries generally it seems younger people starting out in Work have little to no disposable income.

When i started working i could afford to go out 2-3 nights a week now people joining the workforce doing similar roles can only afford to go out 2-3 times a month??

IN dublin Staff might start on more but with rent etc they'd need it , in Rural Ireland is it any wonder so many Pubs, Restaurants , shops etc have closed seeing as young people are only paid enough to exist, scavanging in Aldi-Lidl etc to make ends meet ??

The rich business owners- Bosses- Shareholders aren't contend to be Millionaires anymore they want to be Billionaires , hence those at the Bottom are a growing body of people just about existing??

Dravokivich

Does two question marks at the end of a statement mean I have to answer each twice?

Wheeliebin30

Im shocked people's have to shop on aldi/lidl.

The horrors of it joe in this day and age.

DivingDuck

People spend more on different forms of entertainment these days: Netflix, takeaways, drinking at home, gaming, etc. Pubs/clubs/cinema are no longer the only form of entertainment going.

I wouldn't describe shopping in Aldi/Lidl as "scavenging", though. I shop there (admittedly not exclusively; they don't always have the range I like), and I have reasonable disposable income. I just like to get value for money where possible.

Avatar MIA

Dravokivich wrote: »

Does two question marks at the end of a statement mean I have to answer each twice?

Dont you mean...

Dravokivich wrote: »

Does two question marks at the end of a statement mean I have to answer each twice?

Does two question marks at the end of a statement mean I have to answer each twice?

Beta Ray Bill

This is par for the course all over the country and indeed the world.

I'm just out of a long term relationship (had a kid and mortgage with the other person)
I ended up moving out, and I'm living back at home because I literally cannot afford to rent a place....

I'm 34 years old with a very good Job....

15 years ago I'd have been able to at least get somewhere to rent at a decent price.
It's pathetic.


There needs to be a world war to force the distribution of wealth away from the 1%'ers to the average Joe.
IE a massive destruction of wealth

Look at the US in the 50's, 60's, 70's and 80's. The quality of life they had at the time was the "American Dream", no one has that now.

Wheeliebin30

Mayne your should ask them not to spend 800 euro on their I phones while making the billionaires more billionairey.

Hector Savage

I love the "Specially Selected" brand in ALDIs ... delicious!

But yeah OP, there is a growing gap between rich and poor, and now 2 people have to work their ass off just to get a basic property - house prices in Dublin are going crazy again.

Look at San Francisco, I have heard stories of engineer couples - both on 100k + salaries, so a combined income of 200k+ - not being able to afford a mortgage.

It's coming here too.

Avatar MIA

grahambo wrote: »

The quality of life they had at the time was the "American Dream", no one has that now.

The clue is in the title. If you only watched the TV ads and fell for the marketing would you think that was the norm.

GLaDOS

I have disposable income because I shop in Aldi and don't spend a fortune in the pub every week.

Macy0161

I'd say we've a lost generation who are poor at managing money to a degree too, maybe because of the money around in their formative years, as well as issues like rent.

Buying out for breaks, buying out for lunches - I see a lot in my place burning through guts of €15 a day on coffees, scones, lunches and soft drinks just during office hours. In my day, we brought in lunches, made our own tea, and spent that money more productively on smokes and drink!

Beta Ray Bill

Avatar MIA wrote: »

The clue is in the title. If you only watched the TV ads and fell for the marketing would you think that was the norm.

Relative to the technology and value of money at the time, they had way better quality of life than they do now.

The_Kew_Tour

Hector Savage wrote: »

I love the "Specially Selected" brand in ALDIs ... delicious!

But yeah OP, there is a growing gap between rich and poor, and now 2 people have to work their ass off just to get a basic property - house prices in Dublin are going crazy again.

Look at San Francisco, I have heard stories of engineer couples - both on 100k + salaries, so a combined income of 200k+ - not being able to afford a mortgage.

It's coming here too.

What's average price of house there? $5million?

hurler32

The Base wage has really plummetted for anything Unskilled or low Skilled, that has many factors , greedy Owners at the top, Foreign workers prepared to work for a lot less etc

I worked as a labourer on a building site in the late 80s and went out 2/3 nights ever week and rented my own gaff....now a labourer ( probably not Irish ) might drink a few cans from Lidl one night a week in his room shared with 3 others afraid to turn on the heating...

We cant be far off the bottom , a couple of hundred super rich Billionaires , a cohort of Public Servants in the middle and the majority going around in Tracksuits with their Lidl Plastic bag....

or else never work, have a big family, lots of Dole, Petty crime & a few Compo Claims which for many Irish Cousins appears the best option

The_Kew_Tour

Macy0161 wrote: »

In my day, we brought in lunches, made our own tea, and spent that money more productively on smokes and drink!

Smoking and Drinking was Productive?

Beta Ray Bill

The_Kew_Tour wrote: »

What's average price of house there? $5million?

Depends on where you want to live:

Linky

Rory28

grahambo wrote: »

Depends on where you want to live:

Linky

I'd buy one of them sh1-tholes if I could get one in Dublin for 55k. Size of the garden you get for it

893bet

grahambo wrote: »

This is par for the course all over the country and indeed the world.

I'm just out of a long term relationship (had a kid and mortgage with the other person)
I ended up moving out, and I'm living back at home because I literally cannot afford to rent a place....

I'm 34 years old with a very good Job....

15 years ago I'd have been able to at least get somewhere to rent at a decent price.
It's pathetic.


There needs to be a world war to force the distribution of wealth away from the 1%'ers to the average Joe.
IE a massive destruction of wealth

Look at the US in the 50's, 60's, 70's and 80's. The quality of life they had at the time was the "American Dream", no one has that now.

If in Ireland and earning min wage you are close to, if not in the top 1%.

thelad95

Definitely a generation poor at managing money and I’ll admit I’m the exact same.

A lot of twenty somethings would do the following pretty regularly:

Stay in bed too late so get a taxi to work, €15 gone
Buy ‘morning coffee’ which is actually some crock of milky heart disease in a Starbucks mug €5 gone
Lunch out €15 gone
Few drinks after work with workmates €10 gone
Just eat for dinner €15 gone

Add to that a few small purchases like chocolate bars or cans of soda and there could easily be 70 quid down the drain all on completely unnecessary expenditure.

Gunslinger92

thelad95 wrote: »

Definitely a generation poor at managing money and I’ll admit I’m the exact same.

A lot of twenty somethings would do the following pretty regularly:

Stay in bed too late so get a taxi to work, €15 gone
Buy ‘morning coffee’ which is actually some crock of milky heart disease in a Starbucks mug €5 gone
Lunch out €15 gone
Few drinks after work with workmates €10 gone
Just eat for dinner €15 gone

Add to that a few small purchases like chocolate bars or cans of soda and there could easily be 70 quid down the drain all on completely unnecessary expenditure.

I'm 25 and I'm horrified at that :pac: maybe I'm better with money than I credit myself for

frozenfrozen

Gunslinger92 wrote: »

I'm 25 and I'm horrified at that :pac: maybe I'm better with money than I credit myself for

I must be a fooking magician. 70 quid a day on ****e, fools and their money...

RasTa

Who spends €15 on lunch but only a tenner on after work pints?

Permabear

This post has been deleted.

ahnowbrowncow

thelad95 wrote: »

Definitely a generation poor at managing money and I’ll admit I’m the exact same.

A lot of twenty somethings would do the following pretty regularly:

Stay in bed too late so get a taxi to work, €15 gone
Buy ‘morning coffee’ which is actually some crock of milky heart disease in a Starbucks mug €5 gone
Lunch out €15 gone
Few drinks after work with workmates €10 gone
Just eat for dinner €15 gone

Add to that a few small purchases like chocolate bars or cans of soda and there could easily be 70 quid down the drain all on completely unnecessary expenditure.

I highly doubt that most people that are thinking of getting a mortgage would be wasting their money like that.

People have higher expectations combined with alternative forms of social contact. Pre-internet you had to leave your house for all social contact outside the people you live with, now you log on any number of sites so removing some of the impetus to get dressed up and go out in the cold and buy overpriced drinks and pay for an Uber home. It's still done, but not as frequently.

Even as a student I had disposable income because I had a part time job and didn't drink/smoke. It's also about priorities. I don't think being able to scavenge in Tesco instead of Aldi is a particularly useful metric of disposable income either.

Dohnjoe

grahambo wrote: »

This is par for the course all over the country and indeed the world.

I'm just out of a long term relationship (had a kid and mortgage with the other person)
I ended up moving out, and I'm living back at home because I literally cannot afford to rent a place....

I'm 34 years old with a very good Job....

15 years ago I'd have been able to at least get somewhere to rent at a decent price.
It's pathetic.


There needs to be a world war to force the distribution of wealth away from the 1%'ers to the average Joe.
IE a massive destruction of wealth

Aggregate standards of living have risen dramatically. Global poverty halved in 30 years.

You have better rights, equality, infrastructure, healthcare, education, job choice/options/mobility, better quality goods/services, transport, safety than previous generations

Indeed property prices have increased but that is due to the market. More people are on dual income now, houses are generally larger, made of better materials, land is a scarce resource

Look at the US in the 50's, 60's, 70's and 80's. The quality of life they had at the time was the "American Dream", no one has that now.

Another myth. Cheaper property and cheaper education, apart from that just about every other metric was worse.

Lia_lia

A lot of it is to do with the cost of rent etc but some people are just genuinely awful with money. I have friends and colleagues (most have no kids and are in their late 20's early 30's) that would be earning 40K+ and I can't believe the way spend their money on various things.

Smartphones that cost €800+, lots of online clothes shopping, holidays booked through travel agents where they could get them cheaper by booking online, Sky TV, eating out and getting take-aways most days of the week, brand new cars on PCP...and the list goes on. Fair enough if you can afford these things and still have money left over to save. But the people I know spend all this money, save absolutely none of it and usually have a few loans. Then they give out about the cost of living, the government and never being able to get a mortgage.

Richard Hillman

This is what happens when you introduce Communism through the back door.

seamus

I don't think anecdotes have any merit. I might have been out a couple of times a week when I started working, but I wasn't exactly throwing cash around. It would generally involve pre-drinking enough to get you warmed up and then another few quid in the pub and a bus home. Or maybe a taxi if there were enough of you to make it worth it.

The notion that young people are scavenging in Lidl & Aldi because the modern world has screwed them over is fanciful nonsense. Young people have never been flush with cash, they've always been the ones sharing flats, wearing cheap clothes, drinking cheap booze and sneaking into things without paying.

The US is fncked because decades of libertarian economics has removed the middle class, but that's a different country. The same hasn't occurred here.

somefeen

Lia_lia wrote: »

A lot of it is to do with the cost of rent etc but some people are just genuinely awful with money. I have friends and colleagues (most have no kids and are in their late 20's early 30's) that would be earning 40K+ and I can't believe the way spend their money on various things.

Smartphones that cost €800+, lots of online clothes shopping, holidays booked through travel agents where they could get them cheaper by booking online, Sky TV, eating out and getting take-aways most days of the week, brand new cars on PCP...and the list goes on. Fair enough if you can afford these things and still have money left over to save. But the people I know spend all this money, save absolutely none of it and usually have a few loans. Then they give out about the cost of living, the government and never being able to get a mortgage.

I think alot if this is actually a hang up of coming from a poorer background. If you suddenly have money when you never had it before your mentality towards it is completely warped. My first 2 years out of college I burned money at a disgraceful rate. Had a wake up call eventually when I ran out of money a week before my next payday. It was like old times again so I was forced to change my way of seeing money.

They need to teach more about money management in schools I reckon.

Grayson

Permabear wrote: »

This post had been deleted.

Except cash buyers make up the biggest single segment of buyers. Most of them aren't ordinary citizens, they're hedgefunds buying property here.

When nama sold off it's portfolio it was businesses like hedgefunds that bought them.