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The Luxury Trap

13

Comments

  • #62
    Stark
    Registered Users, Registered Users 2, Paid Member Posts: 21,378 ✭✭✭✭Stark


    SLUSK wrote: »
    I saw a program on television called the Luxury Trap, it is about people who live way beyond their means. One case had a nurse who bought lots of crap and generated mountains of credit card debts. In her apartment she had THREE 50 inch flat screen televisions, one of them was put away in a closet!

    I wanted to scream, why are people this stupid. When you walk around and see that people use their own houses as their private ATM's you just ask yourself, why do people do this?

    What kind of person gets caught up in the luxury trap?
    What kind of person gets caught up in the illusion of wealth?

    Is the Western world an idiocracy already?

    It's the Government's fault she bought all those flat screens that she doesn't need. Always the Government's fault.


  • #63
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    mathie wrote: »
    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.

    What hobbies do you have? I am sure some find them sickening and retarded... Stop being so judgemental, so fcuking what if their idea of a good time is spending money. What's it to ya? You stink of jealousy...

    Maybe that is their purpose, to spend and accumulate a lot of materialistic things.
    Kipperhell wrote: »
    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:

    He want's interest rates to go up so people who are able to afford their repayments now, will not be able to and will have to move out of their homes, he wants families moved out because they have a mortgage. That is outright begrudgery. Envious of another persons belongings so he wishes their belongings to be taken away from them, it's pretty basic for anyone with a brain really.

    Some people need to get themselves a dictionary... :rolleyes:


  • #64
    mathie
    Registered Users, Registered Users 2 Posts: 5,103 ✭✭✭mathie


    Yamileth Putrid Beginner wrote: »
    What hobbies do you have? I am sure some find them sickening and retarded... Stop being so judgemental, so fcuking what if their idea of a good time is spending money. What's it to ya? You stink of jealousy...

    Maybe that is their purpose, to spend and accumulate a lot of materialistic things.

    My hobbies = Football, Swimming, Cycling, Running.

    I'm sure fat degenerate troglodytes slurping down their oversized bucket of diet-Pepsi and their KFC meal-fest on their weekly trip to Liffey Valley would look down on someone with actual hobbies.

    And yes I'm jealous of being in debt and hooked on material goods :rolleyes:

    To quote Anwar El-Sadat...
    "Most people seek after what they do not possess and are thus enslaved by the very things they want to acquire."


  • #65
    Mr.David
    Registered Users, Registered Users 2 Posts: 1,703 ✭✭✭Mr.David


    mathie wrote: »

    To quote Anwar El-Sadat...
    "Most people seek after what they do not possess and are thus enslaved by the very things they want to acquire."


    ....and so can only be set free by acquiring what they seek?:D


  • #66
    mathie
    Registered Users, Registered Users 2 Posts: 5,103 ✭✭✭mathie


    Mr.David wrote: »
    ....and so can only be set free by acquiring what they seek?:D

    :)
    Much like recursion.
    To understand it you first must understand recursion.


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  • #67
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    You say this...
    mathie wrote: »
    My hobbies = Football, Swimming, Cycling.

    Then...
    I sure fat degenerate troglodytes slurping down their oversized bucket of diet-Pepse and their KFC meal-fest on their weekly trip to Liffey Valley would look down on someone with actual hobbies.

    then I lol'd :)

    So what are actual hobbies as opposed to hobbies? Are you superior, is this what you think?

    Do you know what a hobby is? Or do you think it is reserved for sports? The lack of logic in your post is astounding but quite entertaining to say the least.

    Let me enlighten you, a hobby is any recreational activity done in ones spare time. It's something someone enjoys.

    You also have the cheek to say that people who do not have "norm" hobbies are fat degenerates? Less of this trolling sh!te, really. You are not fooling anybody.
    And yes I'm jealous of being in debt and hooked on material goods :rolleyes:

    You sure do have a problem with people having posessions, bought on credit. There's wreckless spending and there's ordinary debt. How can any average joe afford a house or car without taking out a loan. It's what banks are for, get over it.

    You seem to have a serious lack of understanding of economics, the banking sector and life in general. Come back to us when you get some life experiences...

    Or maybe mammy and daddy buy you everything, do they? Either way, you haven't a clue.

    Stay in your minority somewhere in the hills, it's safer that way ;)


  • #68
    Kipperhell
    Closed Accounts Posts: 1,477 ✭✭✭Kipperhell


    Yamileth Putrid Beginner wrote: »
    He want's interest rates to go up so people who are able to afford their repayments now, will not be able to and will have to move out of their homes, he wants families moved out because they have a mortgage. That is outright begrudgery. Envious of another persons belongings so he wishes their belongings to be taken away from them, it's pretty basic for anyone with a brain really.
    You really should stop using that word as you aren't able to use it. He wants their items taken away from them because of their foolish action not because he wants them. You are saying he is envious but he has stated he intent which isn't envy. So it is not begrudgery you are just saying it is envy and trying to make it out to be begrudgery. That is after failing to comprehend what he did actually say.


  • #69
    mathie
    Registered Users, Registered Users 2 Posts: 5,103 ✭✭✭mathie


    Yamileth Putrid Beginner wrote: »
    You say this...

    Then...

    then I lol'd :)

    So what are actual hobbies as opposed to hobbies? Are you superior, is this what you think?

    Do you know what a hobby is? Or do you think it is reserved for sports? The lack of logic in your post is astounding but quite entertaining to say the least.

    Let me enlighten you, a hobby is any recreational activity done in ones spare time. It's something someone enjoys.

    You also have the cheek to say that people who do not have "norm" hobbies are fat degenerates? Less of this trolling sh!te, really. You are not fooling anybody.



    You sure do have a problem with people having posessions, bought on credit. There's wreckless spending and there's ordinary debt. How can any average joe afford a house or car without taking out a loan. It's what banks are for, get over it.

    You seem to have a serious lack of understanding of economics, the banking sector and life in general. Come back to us when you get some life experiences...

    Or maybe mammy and daddy buy you everything, do they? Either way, you haven't a clue.

    Stay in your minority somewhere in the hills, it's safer that way ;)

    Wow you're a feisty little one!

    Hobby = 'an activity or interest pursued for pleasure or relaxation and not as a main occupation: Her hobbies include stamp-collecting and woodcarving.'

    Do I think it's better to do an 'active' hobby (there I'll qualify it for you) than to spend money in shops? Yes.

    Yes I do have a problem with people who cannot exercise self control.
    I was brought up by 'mammy and daddy' to realise that saving was the way to go. And the whole 'buy now pay later' attitude is one I avoid.

    And gosh the banks are handing out money so I can get stuff?!?! Wow I must get on down to my nice friendly bank who in no way caused the current recession.
    Yamileth Putrid Beginner wrote: »
    You seem to have a serious lack of understanding of economics, the banking sector and life in general. Come back to us when you get some life experiences... "
    :rolleyes:
    Yamileth Putrid Beginner wrote: »
    Or maybe mammy and daddy buy you everything, do they? Either way, you haven't a clue.

    Stay in your minority somewhere in the hills, it's safer that way ;)

    Nope I pay my own way. I've savings and yes I'm in the minority (as this thread points out http://www.boards.ie/vbulletin/showthread.php?t=2055703026). Unlike most people who've got themselves into debt for material goods. But as you say that debt is their "idea of a good time".


  • #70
    NedTermo
    Registered Users, Registered Users 2 Posts: 280 ✭✭NedTermo


    *cuts up credit card and cowers in the corner.


  • #71
    [Deleted User]
    Posts: 18,046 ✭✭✭✭ [Deleted User]


    i still havn't paid off a pair of converse i bought 3 years ago.. first thing i did with my student overdraft was buy them. just yesterday, i turned the overdraft into a loan. debt is a trap and money management (as seen in another thread) should be taught in school.. if not on main course, def in transition year if it's in the school.

    i don't think people have the right to look down on someone who is in debt for material things tho.. the interest is the cost of owning something now. it's a choice and if you don't default, it's a valid way of going about life. i don't regret any of it because it's how i got my car, xbox, itouch, work clothes, a holiday to new york and good craic during college.


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  • #72
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Edith Black Mayonnaise wrote: »
    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.



    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.

    So rent is dead money ey?
    Tell that to the suckers in negative equity!


  • #73
    Brayson Dirty Urination
    Posts: 81,308 CMod ✭✭✭✭ Brayson Dirty Urination


    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

    I can't see the logic where people have no problem shopping in a supermarket which is dead money. i can't see the logic where people buy drinks which is dead money.
    :rolleyes:
    Will you get over this "rent is dead money" bollox, you're paying for a service to have a roof over your head with the addition of flexibility.


  • #74
    thatsa spicy
    Closed Accounts Posts: 251 ✭✭thatsa spicy


    Owning your own home ISN'T NECESSARY. People in this country have simply been taught to think it is. So people don't need to take out mortgages in order to live their lives.

    Obviously owning your own home is an attractive idea but it should be entirely your problem if you can't afford to keep up repayments and you don't deserve any sympathy.

    Same goes with car loans. Decent functioning cars can be bought for less then 2 grand. It's just the culture of this country since the late 90's of trying to maintain a good image of yourself that impels people towards taking out big-ass loans to buy expensive cars.


  • #75
    Brayson Dirty Urination
    Posts: 81,308 CMod ✭✭✭✭ Brayson Dirty Urination


    thatsa spicy wrote: »
    Owning your own home ISN'T NECESSARY. People in this country have simply been taught to think it is. So people don't need to take out mortgages in order to live their lives.

    Every time people yell "rent is dead money" i think of linda martin saying that on a GE money ad
    surely reason enough to know it's ridiculous :pac:


  • #76
    Blazer
    Registered Users, Registered Users 2 Posts: 17,540 ✭✭✭✭Blazer


    Begrudgery = Looking at Iamxavier's ISP tests and wishing he'd get cut off as I can only get a lousy 7.6megs from Eircom or any other ISP around here.:D


  • #77
    [Deleted User]
    Posts: 18,046 ✭✭✭✭ [Deleted User]


    thatsa spicy wrote: »
    Same goes with car loans. Decent functioning cars can be bought for less then 2 grand. It's just the culture of this country since the late 90's of trying to maintain a good image of yourself that impels people towards taking out big-ass loans to buy expensive cars.

    While this is true alot of the time, cars a serious hobbie for people. I know I'll be spending 25-30k on my car eventually because they're not just modes of transport to some of us.

    That's very different to bland expensive mercedes etc that have zero spec for 50k. I disagree with that culture completely..


  • #78
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    Kipperhell wrote: »
    You really should stop using that word as you aren't able to use it. He wants their items taken away from them because of their foolish action not because he wants them. You are saying he is envious but he has stated he intent which isn't envy. So it is not begrudgery you are just saying it is envy and trying to make it out to be begrudgery. That is after failing to comprehend what he did actually say.

    You obviously are not reading it proparly. He wants interest rates to go up so people can't afford their homes, thus being evicted.
    SLUSK wrote: »
    So rent is dead money ey?
    Tell that to the suckers in negative equity!

    So where does the rent money go? I can give you a simple lesson in investment if you wish...

    Also, cool kids don't send insults through PM's ;)


  • #79
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Yes it is a very good investment to buy a house even when it is way cheaper to rent, this savings can then be invested in something that actually generates profits :D

    A house cannot be considered a good investment unless it generates more money than it costs you...


  • #80
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    SLUSK wrote: »
    Yes it is a very good investment to buy a house even when it is way cheaper to rent, this savings can then be invested in something that actually generates profits :D

    A house cannot be considered a good investment unless it generates more money than it costs you...

    Housing apretiates, cars depretiate... Normally. So if you buy a house now, it will be worth a lot more than it is now in 30 - 40 years. It is a long term investment.

    Renting is more expensive than buying a house, a lot more. Our rent is 2.5 times the cost of a mortgage to buy a house where we want to. We can't get a mortgage because they would say we can't afford it... which is odd.

    Renting is a complete waste, unless you are sharing and renting a room for 50 quid a week. But that's a lifestyle choice, that very few would be comfortable in.


  • #81
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Yamileth Putrid Beginner wrote: »
    Housing apretiates, cars depretiate... Normally. So if you buy a house now, it will be worth a lot more than it is now in 30 - 40 years. It is a long term investment.

    Renting is more expensive than buying a house, a lot more. Our rent is 2.5 times the cost of a mortgage to buy a house where we want to. We can't get a mortgage because they would say we can't afford it... which is odd.

    Renting is a complete waste, unless you are sharing and renting a room for 50 quid a week. But that's a lifestyle choice, that very few would be comfortable in.
    How exactly do you calculate the cost for a mortgage? Which interest rates are you using? How many years is the mortgage?

    When I first came to Ireland it was always more expensive to buy a place then renting a place of the same size in the same area. Now the interest rates are artificially low, you will have to expect these to rise quite alot.

    I'd rather invest my monies in stocks and commodities when the time is right.

    As


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  • #82
    Call Me Jimmy
    Registered Users, Registered Users 2 Posts: 8,449 ✭✭✭Call Me Jimmy


    I am glad that even though I'm not happy, I know buying loadsa **** won't help.

    I just want enough money for food and basics, after that I don't need a penny.


  • #83
    congo_90
    Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭congo_90


    PirateShampoo wrote: »
    All i have in my closet is a bound and gagged hooker.

    I'll trade ya mine for yours if shes still alive..


  • #84
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Call Me Jimmy wrote: »
    I am glad that even though I'm not happy, I know buying loadsa **** won't help.

    I just want enough money for food and basics, after that I don't need a penny.
    I like hoarding monies.


  • #85
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    SLUSK wrote: »
    How exactly do you calculate the cost for a mortgage? Which interest rates are you using? How many years is the mortgage?

    When I first came to Ireland it was always more expensive to buy a place then renting a place of the same size in the same area. Now the interest rates are artificially low, you will have to expect these to rise quite alot.

    I'd rather invest my monies in stocks and commodities when the time is right.

    As

    Investing in the stock market is not something everyone can do, a house is a much safer investment.

    It's the developers and people buying 3 houses on an average wage are the people who you want to question.


  • #86
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    Yamileth Putrid Beginner wrote: »
    Investing in the stock market is not something everyone can do, a house is a much safer investment.

    It's the developers and people buying 3 houses on an average wage are the people who you want to question.

    How is houses a safe investment? Checked where asset prices are going? Stocks are rebounding but houses are still going down...


  • #87
    m5ex9oqjawdg2i
    Closed Accounts Posts: 11,217 ✭✭✭✭m5ex9oqjawdg2i


    SLUSK wrote: »
    How is houses a safe investment? Checked where asset prices are going? Stocks are rebounding but houses are still going down...

    For you to debate in economics, you must first learn what economics is about, how things work in that sence, study trends and then tell me what you think. ;)


  • #88
    Mr.David
    Registered Users, Registered Users 2 Posts: 1,703 ✭✭✭Mr.David


    Yamileth Putrid Beginner wrote: »
    Investing in the stock market is not something everyone can do, a house is a much safer investment.


    Awake from your slumber, the year is 2009. Welcome to post Celtic tiger Ireland. Read a newspaper, watch the news, whatever takes your fancy. You may discover that a house is not in fact the most secure of investments, try googling the term "negative equity".

    Rent, dead money?! Interest on mortgage - what is that then?!!!

    Nonsense.


  • #89
    mathie
    Registered Users, Registered Users 2 Posts: 5,103 ✭✭✭mathie


    Yamileth Putrid Beginner wrote: »
    For you to debate in economics, you must first learn what economics is about, how things work in that sence, study trends and then tell me what you think. ;)
    Yamileth Putrid Beginner wrote: »
    Investing in the stock market is not something everyone can do, a house is a much safer investment.

    :D
    You've made my day!


  • #90
    fiona12
    Registered Users, Registered Users 2 Posts: 99 ✭✭fiona12


    O, I just love this thread!

    When did people become so naive? This is the real world, and we are all living in it, so here is a breakdown on my situation:

    House - Mortgaged
    Car x 2 - HP
    Credit card - only small, but still ....
    contents of house - Loan
    Trip abroad - loan

    So I have all these debts-oooh, but guess who is paying for it? Me and my better half with the money we earn, from doing actual work. I am not expecting any handouts or bailouts or whatever you choose to call them. I will pay back every penny I owe, without asking for any help. Because when I went to the bank and asked for these loans, I knew I was in a position to repay them! We are not all ignorant idiots, you know!

    So there you have it, hang me!!! Or on the other hand, just grow up and mind your own bloody business. If it makes you feel any better, just go down to BOI or AIB and ask for an overdraft, that should shut you up!


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  • #91
    [Deleted User]
    Posts: 24,773 ✭✭✭✭ [Deleted User]


    Mr.David wrote: »
    Awake from your slumber, the year is 2009. Welcome to post Celtic tiger Ireland. Read a newspaper, watch the news, whatever takes your fancy. You may discover that a house is not in fact the most secure of investments, try googling the term "negative equity".

    The drop in the price of houses is even more of a reason to buy a house now rather than rent.
    Mr.David wrote: »
    Rent, dead money?! Interest on mortgage - what is that then?!!!

    Nonsense.

    Because renting you do not own the house, but with a mortgage you are working towards owning the house outright.

    I for one will not be renting a room for any longer than I have to. I would much prefer to buy and house and rent out a room or two thus having the best of both worlds. No massive mortgage and you own the house. Then when ever you want to can stop renting rooms and have your own house. I will most likely wait until my postgrad is finished but if things hit rock bottom and prices start to recover I may buy sooner.

    I know my family would much rather help me out buying a house than see me spend money on rent as it has been said to me many times.


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