Social Science Generation X

[Scotland]

Can you afford it?
Do you need it?

I keep it pretty simple. Never borrow money you don't have to, especially to spend on something that depreciates.

Bank account - is there more, less or the same amount of money in it at the end of the month compared the start of the month?

 

[Shell]

I always think though, so I own my own home 5-10 years later than I expected but I had a hell of a time when I was young enough. My worst fear would be

I keep it pretty simple. Never borrow money you don't have to, especially to spend on something that depreciates.

Yep. Or never put something on a credit card you can't afford.

I've never paid interest on a cc. Not once. (And i only have the one card)

 

[Scotland]

I think you would find it would - as Scotland said - paying $4.50 rather than $3 to get morning fresh over homebrand is a mere tip on a gigantic iceberg.

To be fair a lot of people also don't know how to shop.

 

[IKnowtheDog]

Cars and electronic devices are cheaper and easier to access now than 25-30 years ago.

 

[Scotland]

People still line up to pay $1000 or whatever it is for the latest iPhone months after buying the previous one.

 

[Bomberboyokay]

Cars and electronic devices are cheaper and easier to access now than 25-30 years ago.

And while a week in Bali is overseas travel, it's not the expensive kind.

 

[Billy ray]

Its the big ticket items where you need to be vigilant. Renegotiate your home loan if rate too high or move banks.
change electricity and gas companies often. Health insurance if you have it. Monthly bills for telcos.
Always look at who can provide a better deal and switch if you wont get that deal matched by your current company.

ive changed banks 3-4 times in last 10
Years. Same for telcos and utilities. And mobile. The big one is the mortgage rate.

 

[Scotland]

I've had 3 banks, "wealth package" or equivalent customer each time. It's usually something like a monthly or annual fee and they knock off 0.5% or 1% or something off the home loan rate. Absolute no brainer when you look at paying $400 a year to save $2,000 (and get a credit card etc. which you don't even have to use). They always say yes, but no bank has yet asked me "Sir would you like to take advantage of this thing which saves you money at our expense?".

 

[Shell]

Ive never switched banks.

Srsly cbfd.

 

[Billy ray]

Ive never switched banks.

Srsly cbfd.

Thats what they rely on.
its not that hard.
Once you do it once its easy

longest thing was to trawl thru a years statements and write down the direct debits i needed to change. That took 30 mins. Then when i did it another hour to email and call them to get a new form to change bank account details.

couple hours of my time to save thousands a year

 

[Shell]

Thats what they rely on.
its not that hard.
Once you do it once its easy

longest thing was to trawl thru a years statements and write down the direct debits i needed to change. That took 30 mins. Then when i did it another hour to email and call them to get a new form to change bank account details.

couple hours of my time to save thousands a year

I will do it when my mortgage is up in 2 years time.

 

[Billy ray]

I will do it when my mortgage is up in 2 years time.

Atta girl!
Most times they will match if you show you are serious. But if not, meh call their bluff
I havent paid full price for foxtel for years. always call their bluff

 

[Shell]

Atta girl!
Most times they will match if you show you are serious. But if not, meh call their bluff
I havent paid full price for foxtel for years. always call their bluff

How much do u pay pe rmonth for foxtel?

 

[Billy ray]

How much do u pay pe rmonth for foxtel?

$52 i think. Full price for my package would be $96 i think.
plus they threw in 6 movies at $6.95 a pop.

 

[IKnowtheDog]

What’s the going rate on a Gourd?

 

[Shell]

$52 i think. Full price for my package would be $96 i think.
plus they threw in 6 movies at $6.95 a pop.

That is a pretty good deal.

 

[Billy ray]

That is a pretty good deal.

Yep. I need foxtel to be able to watch the footy and related tv shows as it gets minimal coverage up here. So small price to pay in my eyes.

 

[Shell]

Yep. I need foxtel to be able to watch the footy and related tv shows as it gets minimal coverage up here. So small price to pay in my eyes.

Is that everything? Do you get the movie channels with that??

 

[Billy ray]

Is that everything? Do you get the movie channels with that??

No movie channels. Everything else tho. All sports. Kids. Entertainment. Music. News. Etc and in HD. and 4k channels.

i have my gf’s netflix and stan accounts too and get my movies and more shows from them.

 

[kickazz]

And while a week in Bali is overseas travel, it's not the expensive kind.

Yeah it's not. But it once was, sort of. Even a flight interstate was quite expensive.

 

[Shell]

No movie channels. Everything else tho. All sports. Kids. Entertainment. Music. News. Etc and in HD. and 4k channels.

i have my gf’s netflix and stan accounts too and get my movies and more shows from them.

Fair enough. I still dont think I'll get foxtel - my flatmate had it all the time I lived with her and its not that great imo. Ive said before i wish I could purchase like half a dozen specific channels and thats it.

 

[Billy ray]

Fair enough. I still dont think I'll get foxtel - my flatmate had it all the time I lived with her and its not that great imo. Ive said before i wish I could purchase like half a dozen specific channels and thats it.

Thing is if you purchased say 6 channels at like $7-$10 a month you get the same cost as getting 80 channels. So you just watch the 6 or so ones you want.
For me i mentally break it down as being $30 a month for the footy/sports and then ~$20 ish remaining for the rest (and i mostly watch showcase, lifestyle, fox8, food, discovery, nat geo, and yes, the weather channel).

so long as they keep allowing me discounted charge I’ll keep it. Wouldn’t pay full price tho.

 

[Howard Littlejohn]

That's the point though - it is all relative - and back then houses cost 2-2.5 times average income - now they cost 4.5-5.5 times.

Back then most couples also only had one income, which mitigates that somewhat but not greatly (and not at all for singles or one income couples, or two part-time income couples). And interest rates were much higher.

It is pretty ridiculous to say "get somewhere on the edge of town like we did" when the edge of town was 40 minutes from the city, not two hours plus getting to and from childcare.

 

[iluvparis]

Back then most couples also only had one income, which mitigates that somewhat but not greatly (and not at all for singles or one income couples, or two part-time income couples). And interest rates were much higher.

It is pretty ridiculous to say "get somewhere on the edge of town like we did" when the edge of town was 40 minutes from the city, not two hours plus getting to and from childcare.

Fair - for all the caveats it is just ludicrous for anyone to say the same type of housing is just affordable for this generation as it was for the last.

 

[Howard Littlejohn]

Fair - for all the caveats it is just ludicrous for anyone to say the same type of housing is just affordable for this generation as it was for the last.

Agreed on that, it was out of control in Melbourne and Sydney 20+ years ago and has only gotten much worse.