The Luxury Trap

Pighead · 06-10-2009 09:05PM

SLUSK wrote: »

When I said this world I meant the Western world.

No offense but South East Asia is becoming more westernized with every passing year. You'd want to get a hurry on buddy if you want to experience that alternative lifestyle you crave. Otherwise your voyage will be as exotic and exciting as hopping aboard the 11.30 train from Heuston Station to Limerick junction.

DarkJager · 06-10-2009 09:06PM

SLUSK wrote: »

Don't buy stuff you can't afford, save until you can afford them. People left right and centre buy stuff on credit and the bills keep racking up. Because of their stupidity I wonder how they managed to survive until adulthood.

You are missing my point. Why are such people "stupid" in your eyes? People buy stuff because they want it, they have a right to do what they want with their money after working hard to earn it.

If we all spent our lives just saving money for things we want to buy, we wouldn't even get around to purchasing a third of them.

SLUSK · 06-10-2009 09:08PM

DarkJager wrote: »

You are missing my point. Why are such people "stupid" in your eyes? People buy stuff because they want it, they have a right to do what they want with their money after working hard to earn it.

If we all spent our lives just saving money for things we want to buy, we wouldn't even get around to purchasing a third of them.

If you borrow money you don't spend your own money.

Every single item I have I have bought with saved money. Never been in debt.

DarkJager · 06-10-2009 09:08PM

SLUSK wrote: »

If you borrow money you don't spend your own money.

Every single item I have I have bought with saved money. Never been in debt.

If you borrow money you still end up paying it back so what is your point?

TheZohanS · 06-10-2009 09:10PM

Swedish
Nurse
Pics?

SLUSK · 06-10-2009 09:10PM

The point is alot of people will not be able to pay it back.
Interest rates are to low because of internventions in the free market. Interest rates should be alot higher and alot of families should be kicked out of their homes they can't really afford in the first place.

pikachucheeks · 06-10-2009 09:13PM

DarkJager wrote: »

People buy stuff because they want it, they have a right to do what they want with their money after working hard to earn it.

I definitely agree with you - if people have the money to buy things, they can spend it on whatever they want - and they have every right to.
But don't you think it's sad, when people go beyond their means and wind up crippled by debt?

There's a definite pressure in today's society to "keep up with the Jones'" which leads people into difficult financial situations.

It's a shame that so much emphasis and importance is placed on material possessions and that being rich and affluent is given so much weight.

DarkJager · 06-10-2009 09:15PM

SLUSK wrote: »

The point is alot of people will not be able to pay it back.
Interest rates are to low because of internventions in the free market. Interest rates should be alot higher and alot of families should be kicked out of their homes they can't really afford in the first place.

I'm becoming more and more confused each time you post. So now, people can't borrow money cause its not theirs. The interest rates are "too low", even though money is being siphoned off us left right and centre. Interests rates should go up now and make all the silly people who bought themselves a place to live, homeless.

Maybe you should think about travelling to Mars instead of Asia?

SLUSK · 06-10-2009 09:18PM

DarkJager wrote: »

I'm becoming more and more confused each time you post. So now, people can't borrow money cause its not theirs. The interest rates are "too low", even though money is being siphoned off us left right and centre. Interests rates should go up now and make all the silly people who bought themselves a place to live, homeless.

Maybe you should think about travelling to Mars instead of Asia?

People who live way beyond their means will eventually end up in a bad situation and it gives me some morbid satisfaction to see them kicked out of their homes.

DarkJager · 06-10-2009 09:23PM

SLUSK wrote: »

People who live way beyond their means will eventually end up in a bad situation and it gives me some morbid satisfaction to see them kicked out of their homes.

Then you are truly patethic beyond words and I have nothing further to say to you.

SLUSK · 06-10-2009 09:25PM

DarkJager wrote: »

Then you are truly patethic beyond words and I have nothing further to say to you.

These people are the same who laughed at people like me for not spending like crazy and buy stuff and a house I could not afford. Now when it comes back and bite's them in the ass I get the last laugh. Why is that pathetic of me?

DarkJager · 06-10-2009 09:29PM

SLUSK wrote: »

These people are the same who laughed at people like me for not spending like crazy and buy stuff and a house I could not afford. Now when it comes back and bite's them in the ass I get the last laugh. Why is that pathetic of me?

Because it could be you or your family in that situation, and leave all your "i'm a better saver than you" nonsense out of it. Would you appreciate somebody laughing at your misfortune, even though it really is none of their business? Answer that.

Bob_Harris · 06-10-2009 10:07PM

DarkJager wrote: »

Because it could be you or your family in that situation, and leave all your "i'm a better saver than you" nonsense out of it. Would you appreciate somebody laughing at your misfortune, even though it really is none of their business? Answer that.

It's the idiot population of this country that fuelled the housing bubble by paying idiotic prices in this "must own a house" culture of ours.

People can blame the bankers and developers all they like, but at the end of the day if there were no sheep to coax into taking out huge mortgages and loans they couldn't afford to pay back, we wouldn't be in this situation we are in now.

So yeah, maybe it is all of our business. The country faces the possibility of financial ruin for years to come if NAMA fails, so laughing at the "misfortunates" seems acceptable enough to me.

stovelid · 06-10-2009 10:19PM

SLUSK wrote: »

I own almost nothing and I plan to leave this world behind and go to South East Asia permanently when I can afford it.

I hate it when people let money control their lives.

Latchy · 06-10-2009 11:31PM

People living byond their means is nothing new .Some are just to stupid with credit they dont know when to stop .Like the womon who goes out and buys 5 luxury handbags at £120 each only to discard them after using once , then struggles to pay the CC bill ......pfft :rolleyes:

Jet Black · 06-10-2009 11:32PM

From working in a bank its a scary thing to see people owing upwards of 20k on a credit card and paying the minimum payment on it only to be paying off the interest, then they ask can they apply for a loan to buy a new car/jeep. These are the people I said I wanted to be like, the big house, the latest car, nice clothes and 4 holidays a year.
I did not relaise that they owned none of it. This was during the boom and I would hate to see some of them now.

Kipperhell · 06-10-2009 11:37PM

DarkJager wrote: »

If you borrow money you still end up paying it back so what is your point?

You end up paying more back is part of the point and the other main point being if you spend more money than you earn you can never pay it back.

Use credit by all means but it still has to add up at some point. I know people who are trailing debit behind them with the thought something will sort it out. Reality is it will eventually catch you.

It isn't about saving but spending within your means. If you need to take out a loan for a TV I think you can't afford the TV.

Sofiztikated · 07-10-2009 08:32AM

SLUSK wrote: »

I own almost nothing and I plan to leave this world behind and go to South East Asia permanently when I can afford it.

That sounds like a right barrel of laughs.

So if you aren't spending your money on anything, why don't you have enough to **** off to Asia already?

Possibly because you are renting and hiring overpriced goods and services?

One thing I have noticed that has come about because of the change, is the amount of mean ****ers around.

mathie · 07-10-2009 09:09AM

I was watching Dollhouse the other night (yeah I know sorry) and a guy in it said something like 'People strive for perfection. It's part of survival. And when you have everything you strive for you seek out more stuff to strive for'.

If you had no purpose then you might as well be dead

So these people need to realise that material goods does not equate to a 'purpose'.

The amount of people whose hobby is shopping in the 'malls' at the weekend is sickening and as someone mentioned it's a positive from the recession if that culture dies down.

Mr.David · 07-10-2009 10:19AM

The smell of begrudgery from some posters here is overpowering!:eek:

Jumpy · 07-10-2009 10:26AM

DarkJager wrote: »

Valhalla is too expensive for his tastes. A nice shack in the back arse of Rwanda perhaps??

Rwanda is actually developing very well these days. Its not the Rwanda that was on the news a few years back anymore.

Kipperhell · 07-10-2009 10:51AM

Mr.David wrote: »

The smell of begrudgery from some posters here is overpowering!:eek:

Who do you think is begrudging who?

Mr.David · 07-10-2009 10:55AM

Kipperhell wrote: »

Who do you think is begrudging who?

There is a sense of jealousy towards those who purchased goods/services etc on credit. I am firmly on the side of paying in cash and not using credit, but I am not jealous of those that do (temporarily) have a higher standard of living than I do (newer car, more clothes, more holidays etc) due to using credit as a means to fund the lifestyle.

In fact, I feel more pity towards their stupidity than jealousy towards their lifestyle which I sense some posters here feel.

Kipperhell · 07-10-2009 11:36AM

Mr.David wrote: »

In fact, I feel more pity towards their stupidity than jealousy towards their lifestyle which I sense some posters here feel.

I don't think anybody is showing jealousy. Anger is apparent but it is not from jealousy but contempt for the stupidity. Pity for those who are responsible for their own situation seems silly to me personally.

I know a few people in heavy debit who look down on those without their luxuries.

There is no begrudgery here that I can see. Can you point it out?

m5ex9oqjawdg2i · 07-10-2009 12:01PM

SEPT 23 1989 wrote: »

bland shallow people who know the price of everything but the value of nothing

this economic depression will thin out their ranks

Generalise much?

SLUSK wrote: »

I personally have more money than most people who make 50%-60% more than me, I love money. It buys me freedom, I laugh at suckers in debt bondage.

I have more money than most people I know with jobs

SLUSK wrote: »

and when it goes to **** you expect to get a tax payer bail out!:mad:

The tax payer doesn't bail out little folk, they bail out developers and politicians that make crazy expenses claims. Tell me the last average joe soap the tax payer bailed out...

SLUSK wrote: »

it becomes my business when they receive handouts from government.

It's none of your damned business.

SLUSK wrote: »

Don't buy stuff you can't afford, save until you can afford them. People left right and centre buy stuff on credit and the bills keep racking up. Because of their stupidity I wonder how they managed to survive until adulthood.

Sure blame the average joe, when it was the banks who made it soooo easy to get loans, their the real scum in this. I guess you are too blind to see the real culprits, blame anybody you can. I hate people who blame the wrong people for messes like these.

SLUSK wrote: »

If you borrow money you don't spend your own money.

Every single item I have I have bought with saved money. Never been in debt.

What you want? A blue peter badge? So what if you have never been in debt, nobody really gives a damn. Peoples wages force them to go into debt when buying houses, cars and an education. How do you think anybody can afford a house without a mortgage is beyond me. Such a naive thought...

SLUSK wrote: »

The point is alot of people will not be able to pay it back.
Interest rates are to low because of internventions in the free market. Interest rates should be alot higher and alot of families should be kicked out of their homes they can't really afford in the first place.

WTF? Put up interest rates just so more people can't afford their repayments? You want whole families kicked out of their homes because they bought them on credit? This just shows your naive ignorance of life. It also shows the begrudgery you have for fellow unknown human beings. Which is rather sick.

SLUSK wrote: »

People who live way beyond their means will eventually end up in a bad situation and it gives me some morbid satisfaction to see them kicked out of their homes.

You have a real problem with people having more than you. This is something I see in my 4 year old nephew. But he's funny, you are not. I hope you end up in the situation which you wish on others for no real reason.

SLUSK wrote: »

These people are the same who laughed at people like me for not spending like crazy and buy stuff and a house I could not afford. Now when it comes back and bite's them in the ass I get the last laugh. Why is that pathetic of me?

Are they? I am 100% that they are not the same people. Both may have bought items on credit, but they are not the same people, so stop trying to con us

Mr.David wrote: »

There is a sense of jealousy towards those who purchased goods/services etc on credit. I am firmly on the side of paying in cash and not using credit, but I am not jealous of those that do (temporarily) have a higher standard of living than I do (newer car, more clothes, more holidays etc) due to using credit as a means to fund the lifestyle.

In fact, I feel more pity towards their stupidity than jealousy towards their lifestyle which I sense some posters here feel.

SO people who buy on credit are stupid? :rolleyes:

Kipperhell · 07-10-2009 02:03PM

Yamileth Putrid Beginner wrote: »

WTF? Put up interest rates just so more people can't afford their repayments? You want whole families kicked out of their homes because they bought them on credit? This just shows your naive ignorance of life. It also shows the begrudgery you have for fellow unknown human beings. Which is rather sick.

That is not begrudgery, that is disdain for careless behaviour mixed with a lack of compassion. He doesn't want what they have or envy it he wants them to face the consequences of their own actions regardless.

Some people really need to look up the meaning of the word:rolleyes:

07-10-2009 02:22PM

Mr.David wrote: »

There is a sense of jealousy towards those who purchased goods/services etc on credit. I am firmly on the side of paying in cash and not using credit, but I am not jealous of those that do (temporarily) have a higher standard of living than I do (newer car, more clothes, more holidays etc) due to using credit as a means to fund the lifestyle.

In fact, I feel more pity towards their stupidity than jealousy towards their lifestyle which I sense some posters here feel.

I dont see any problem with people using credit to improve their lifestyle once thay can afford to make repayments.

I actually feel a bit of pity for people who think getting a loan(which they can actually repay) is madness and spend years saving for something and by the time they can afford it its no longer available/replaced/outdated etc etc.

SLUSK wrote: »

If you borrow money you don't spend your own money.

Every single item I have I have bought with saved money. Never been in debt.

So you dont own a house so. I cant see the logic where people have no problem paying rent which is dead money but dont want to get a mortgage for the simple reason that they want to be able to talk crap about having no debts.

By refusing to borrow sensibly you are denying yourself many things in this world.

hidinginthebush · 07-10-2009 02:39PM

SLUSK wrote: »

These people are the same who laughed at people like me for not spending like crazy and buy stuff and a house I could not afford. Now when it comes back and bite's them in the ass I get the last laugh. Why is that pathetic of me?

So would you rather save 40+ years so you can buy a house outright? Rather than put yourself in debt? This makes no sense at all, since any money spent on rent in this time is wasted investment.

I have no problem spending beyond my means (granted, it's not hard, with the peanuts I make), but it feels good to spend money on yourself, be it a night in with a take away, or a new guitar, these things make me feel better. Yes there are always going to be a few who take it out of control, but there's nothing wrongwith a little self-indulgence

hidinginthebush · 07-10-2009 02:43PM

The argument going on here reminds me of the controversy that popped up last year when the government wanted to cap the salaries of consultant doctors at something like €200K, and their spokesperson came out and said they wouldn't accept it since you "can't buy a house for €200k", what sort of fcuking idiot buys a house a year? That's why people get mortgages :mad:

Mr.David · 07-10-2009 03:25PM

Edith Black Mayonnaise wrote: »

So you dont own a house so. I cant see the logic where people have no problem paying rent which is dead money but dont want to get a mortgage for the simple reason that they want to be able to talk crap about having no debts.

By refusing to borrow sensibly you are denying yourself many things in this world.

I think there is a huge difference between necessary/managed debt and consumer "feel good" impulsive debt. A mortgage or loan for a necessary purchase is all good, but thats a bit different to running up huge credit card debt, living in the overdraft and spending most of your cash just making interest repayments.

Regarding a house, I still see the attitude of rent being wasted money. Yes, it is indeed, but is it any more wasted than interest on a mortgage?! Of course not. At the moment, interest rates for those lucky enough to be on a tracker mortgage may be historically low but it is exceptional. On a 200k house with an interest rate of 5% its costing you €10k + maintenance to mantain every year minimum. If the rent is less than that how is it a waste of money? You rent a bit longer, save a larger deposit, secure lower interest rates for mortgage and ultimately pay it off sooner. Of course the law of diminishing returns applies....theres no point saving for 40 years!

The Luxury Trap

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