View Full Version : At least the mighty ORG understands?!
Life has been financially tough this year folks [ like most folk I guess].
My husband and I split, and I have been left with a mortgage and bills and 3 kids to bring up on my own. To cut a long story short, my ex doesn't work and CSA will only pay a fiver a week, so I'm flying solo.
Anyhooo, I'm working extra hours as my job as a staff nurse, food shopping at Aldi, and cut back on everything to keep my head above water. I don't go out socially, and never spend money on myself.
Was moaning to my family over Christmas about perhaps having to sell the house and move into council property, when they said I should sell my bike??!!!! WTF???!!!Are they mental? Yes I would probably get a couple of grand for my bike, and yes it would keep the wolf from my door for a couple of months......but it's my only source of pleasure!!! Never want to sell my bike!
You lot understand, don't you? Please tell me I'm not being selfish?
Rant over. Thanks xxx:D
Yes I do understand
Had a freind sold his KR1S, les Pual custom and Fender twin .All for penuts and still had to hand there keys back .
Still regreats it to this day(more the guitar than the bike).
Life has been financially tough this year folks [ like most folk I guess].
My husband and I split, and I have been left with a mortgage and bills and 3 kids to bring up on my own. To cut a long story short, my ex doesn't work and CSA will only pay a fiver a week, so I'm flying solo.
Anyhooo, I'm working extra hours as my job as a staff nurse, food shopping at Aldi, and cut back on everything to keep my head above water. I don't go out socially, and never spend money on myself.
Was moaning to my family over Christmas about perhaps having to sell the house and move into council property, when they said I should sell my bike??!!!! WTF???!!!Are they mental? Yes I would probably get a couple of grand for my bike, and yes it would keep the wolf from my door for a couple of months......but it's my only source of pleasure!!! Never want to sell my bike!
You lot understand, don't you? Please tell me I'm not being selfish?
Rant over. Thanks xxx:D
DO NOT EVER SELL THE SV..... I went thru the cleaners a few years ago and managed to keep my SV, it was a bloody godsend to get out for a spin to clear my head of all the rubbish that was going on !!
Thanks guys, knew you'd understand. I just jump on my bike and my worries disappear! Bliss!:cool:
Don't sell, as much as you tell yourself you'll get another one in the future you might never be able to justify the expense.
Life with no pleasure isn't living, it's just existing
KEEP IT :D
maviczap
27-12-12, 04:53 PM
Ask KellyJo, Her situation was not dissimilar to yours a few years ago
I remember her saying she was better off out of work on benefits, but she still wanted to work.
She's got a job now, but it restricts her riding time
Still she kept her bike, so its not selfish to want to keep yours, so keep it
Geodude
27-12-12, 04:58 PM
Keep the bike sell the kids ;)
Specialone
27-12-12, 05:04 PM
Your situation isn't unique these days unfortunately, one bit of advice I will give is, go and find out exactly what you're entitled to because a lot of time there is extra help out there that they don't advertise.
Maybe contact your local CAB, I'm sure they could help.
I echo what the others have said btw, selling your bike will only help short term, you'll be back to square one once that money has been used.
Biker Biggles
27-12-12, 05:07 PM
Hell no.
Use the bike to get to work as much as possible.That way it justifies its existance to you or anyone else who questions it.
And good luck with all the rest.
tell the feckin kids to go and get a job and put money in the pot or else they are out on their arz.. simples
my 18 year old is getting it well tight just now. for instance, 'dad can i have some of the beer n the fridge', 'not untill you can start buying me some as well'. both of them know when they leave higher education if they don't get a job and help out with bills they are out on the street. yes it sounds harsh and tough but life is tough out there.
sell my bike? i would rather stick a dildo covered in broken glass up my arz.
As with everything good in life, you never know what you have until you miss it.
After a couple weeks not riding, I lost my enthusiasm for Christmas and go to bed early to get the days over with more quickly just so the new year can pass and those lazy *******s in the garage who should be taking my money, can get off their asses, stop eating the turkey and get to work sorting my bike! Whew - I know how you feel.
widepants
27-12-12, 09:08 PM
As alot of you good folk know , I took the kids off my ex earlier this year .Because my son is diabled ,I had to give up work to look after them and it took me 3 months to get my carers allowance etc sorted.I was soo tempted to sell my bike but knew that Id never justify buying another again.I sorned it , got the cheapest ins I could and packed it away in the shed .
Roll on the summer
DONT sell, I had to sell a bike 11 years ago to keep my cashflow going, and it took me until 4 years ago to get the cash to buy another.
My bike justifies itself by the cheap transport it gives me. ;)
dizzyblonde
27-12-12, 10:07 PM
I'm hard up.
When anyone suggests I sell a bike, or Peg.....
I tell them to foxtrot Oscar.
I don't even have a pleasure ride these days, but why oh why would I have to sell my bike for short term gain because some sanctimonious git tells me to? In a month or two it would be back to square one, and I'd be all the more miserable. When you've hit the bottom and you don't have much left, you have to have one pleasure as a focus for better times.
Your decision to make, not somebody in a different situation to you. Yes. It may seem like we complain, but like me, you've already thought of that, and are looking for a different approach or advice.
I've not tried pole dancing yet :;)
Owenski
27-12-12, 10:27 PM
Hit bottom? I don't know your full story Lou so feel free to tell me to jog on but whilst still having an SV, a raptor, a busa and a range rover parked up at home I'm assuming now isn't your moment at the bottom.
dizzyblonde
27-12-12, 10:37 PM
Range Rover and Busa?
Jog on Matt
;)
Owenski
27-12-12, 10:47 PM
Felt sure you'd said peg used the rover for work as his daily but took the busa if he didn't have to cart his boss about or something similar only recently.
Forgot to add for the OP, if your bike is your sole mode of transport then yeah fair enough keep it for sure. If you're struggling to maintain a bike and a car then the biker in me wants to say sell the car but the realist in me says you gotta sell a kidney... Or bike either or, but I'd defo reduce my transport to one prior to selling any real estate.
dizzyblonde
27-12-12, 11:10 PM
As for 'the bottom'
Its referring to the OP, I know her place. Been there, got the tshirt. Just had one kid, not three, mortgage, bills, ex don't work blah blah whatever.
Fallout
27-12-12, 11:15 PM
You need an escape. My bike is one of the few things that keeps me sane. If you want to do right by your kids you need to start by keeping yourself together. If your bike is your release and is keeping the stress at bay then you owe it to them to keep it. They'd much rather have a calm sane mum and miss out on a new pair of trainers than get a few luxuries and live in a more stressed out home, even if they don't know it.
dizzyblonde
27-12-12, 11:16 PM
You need an escape. My bike is one of the few things that keeps me sane. If you want to do right by your kids you need to start by keeping yourself together. If your bike is your release and is keeping the stress at bay then you owe it to them to keep it. They'd much rather have a calm sane mum and miss out on a new pair of trainers than get a few luxuries and live in a more stressed out home, even if they don't know it.
AHHHHFLIPPINMEN :cheers:
-Ralph-
28-12-12, 11:48 AM
Well life isn't as simple as many people seem to think it is. If you sell it you may never get together the means to buy another, something else may always take priority for that money. If you cant afford to run it sorn it and put it away, assuming of course you own it outright and its not on finance. Very easy for people to shout don't sell your bike, but they are not living in your reality, it seems obvious to me that if it is on finance or a choice between owning a bike and feeding you kids or paying your heating bill then you have to sell it, but for as long as you can hold onto it and keep the wolf from the door as well, then keep it. Only you really know the correct answer.
Don't sell... simple as that.
I found myself in serious financial troubles about 13 years ago and sold my Firestorm thinking it would help - it did but only very short term, things still fell apart around my ears only I didn't have a bike left to give me the release from it all that I desperately needed, just an old RD250 I'd had for years. It took me a few years to get back on my feet and onto another decent bike.
daveangel
28-12-12, 04:59 PM
Keep it at all costs, you havn't given the ages of your kids but if you can beg, borrow/have some riding kit one of them can have a release from all the stress with you.
Jayneflakes
28-12-12, 10:26 PM
Life with no pleasure isn't living, it's just existing
KEEP IT :D
You need an escape. My bike is one of the few things that keeps me sane. If you want to do right by your kids you need to start by keeping yourself together.
Don't sell... simple as that.
This says all you need to know. :D
The wife and I are going through the financial crucible at the moment and I spoke to her recently about selling my bike. She told me all of the above and with my step son being a biker too, there is no way that I could sell the bike. However, if everything turns to poo and we have no where else to turn, I can always sell it then. :(
Your situation isn't unique these days unfortunately, one bit of advice I will give is, go and find out exactly what you're entitled to because a lot of time there is extra help out there that they don't advertise.
Maybe contact your local CAB, I'm sure they could help.
I echo what the others have said btw, selling your bike will only help short term, you'll be back to square one once that money has been used.
There is stuff you can claim, single parent and all...
BanannaMan
29-12-12, 07:11 AM
Yes, we do understand.
Keep the bike.
Hope things are looking up for you soon.
shonadoll
29-12-12, 10:20 AM
Keep the bike. It's your only pleasure if you are working so hard xx
Keep the bike sell the kids ;)
as a farther of three...... i agree:thumright:
that aside by the sounds of it you are doing the right thing, my other half also works as a nurse, and our eldest is actually my step-son, so things do get better.
Speedy Claire
30-12-12, 12:40 PM
I think it`s dependant on so many factors and only you can decide.
Do you use it for commuting?
how old are your kids and can you realistically get out on it much without having to rely on babysitters etc?
Insurance/tax/petrol are expensive items if you`re not using the bike much.
Having been a single parent and a struggling one at that if you aren`t actually using the bike that much and selling it is the difference between ie. paying an electricity bill and having your electricity cut off or paying your years council tax versus having to take out a loan at extortionate interest rates to pay your council tax then i`d say sell it.
It`s very difficult struggling to bring up your children on one wage.... I did it and a few of my friends did it, we had to make sacrifices at the end of the day in order to keep our heads above water. Only you know your circumstances and how dire your financial situation is.
One more thing is if you`re a home owner you won`t just be to able to walk into housing authority property. You`ll have to go on a waiting list and could be on it for years!!! if you make yourself homeless you`ll have to justify why you did that etc etc. and it might not speed up your case. You`re kids will prob have left home by the time you actually get to the top of the housing list. Don`t forget also that your house is an investment for the future... if you decide to hand it back to the mortgage company or let it be repossessed you`ll struggle for years to clear your credit rating.... all things to be considered hun but very best of luck x
Your house will be asset that will be sold to pay for your care when your older .
It's hardly an investment .More a stone round your neck.
Speedy Claire
30-12-12, 07:15 PM
That`s a very negative point of view!! How can owning your own home ever be considered as a stone round your neck??? as opposed to what? renting??? wasting all that money every month on rent with no financial comeback.
The OP`s problem is to find a solution to immediate financial problems... not ones that might or might not present 50/60 years down the line!!
Think about. They have to pay up keep of the property. Insure it .
If your close to the line you end up selling your bike car tv .
Chances are you may be postponing the inevitable.
Owning a house is no bed of roses.
Its a particularly English thing.
dizzyblonde
30-12-12, 08:10 PM
On one respect I'd agree. Owning my house is a heavy stone. It's planted in a bad area, and its hard to shift, its thought of as quite burden of maintenance and bad memories. In another respect, my mortgage is so small, you couldn't rent a bedsit for the equivalent...then I'm grateful for that mercy.
In the event of a relationship split. And house ownership, it can be very messy. Mortgage debt can be a nightmare to handle, and come out without someone not having a black mark. Unless you are loaded, or lucky.
It's quite a complicated affair. Sometimes you wish you only rented, in these circumstances.
Speedy Claire
30-12-12, 08:54 PM
Think about. They have to pay up keep of the property. Insure it .
If your close to the line you end up selling your bike car tv .
Chances are you may be postponing the inevitable.
Owning a house is no bed of roses.
Its a particularly English thing.
You still have to insure rented property!!
If you can`t pay your rent you may end up selling your bike, car or TV
Owning a house is a predominantly English thing yes but what difference does that make to anything.
Yes it may be postponing the inevitable but if you can`t afford your mortgage then surely you won`t be able to afford to pay rent either???
I have friends with mortgages and I have friends who rent.... the friends with mortgages pay less each month on their mortgage payment than my friends pay in rent. The big difference is that with a mortgage each month a little bit more of the house belongs to you and a little less belongs to the bank/building society therefore at the end of the mortgage, you own an asset free and clear. Also along the way you build an ever-increasing amount of equity and the icing on the cake comes when your property appreciates over time. With renting, you pay for the privilege of continuing to reside in the dwelling, but you never gain an iota of equity no matter how long you stay.
Anyways.... as I said in an earlier post this thread is not a debate on the advantages of mortgage over rent. It is to try and answer a question set by the OP on whether or not she should sell her bike :D
MisterTommyH
30-12-12, 08:54 PM
Think about. They have to pay up keep of the property. Insure it .
If your close to the line you end up selling your bike car tv .
Chances are you may be postponing the inevitable.
Owning a house is no bed of roses.
Its a particularly English thing.
Wow.
chris8886
30-12-12, 09:33 PM
You still have to insure rented property!!
If you can`t pay your rent you may end up selling your bike, car or TV
Owning a house is a predominantly English thing yes but what difference does that make to anything.
Yes it may be postponing the inevitable but if you can`t afford your mortgage then surely you won`t be able to afford to pay rent either???
I have friends with mortgages and I have friends who rent.... the friends with mortgages pay less each month on their mortgage payment than my friends pay in rent. The big difference is that with a mortgage each month a little bit more of the house belongs to you and a little less belongs to the bank/building society therefore at the end of the mortgage, you own an asset free and clear. Also along the way you build an ever-increasing amount of equity and the icing on the cake comes when your property appreciates over time. With renting, you pay for the privilege of continuing to reside in the dwelling, but you never gain an iota of equity no matter how long you stay.
couldn't agree with this more.
Owenski
30-12-12, 10:37 PM
couldn't agree with this more.
+2
All I can say is this .
My partner has a freind who got into debt tying to hold onto a house.
It got so bad they went to a very dark place .
Fortunately they did sell there home. What was left got them in rented accom.
When that mony ran out because they didn't intentionally make them selves homeless the service found them a place .
Now 2 years on they are in work .Out of debt etc.
It would have been less stressful to sell up first .and maybe the marriage would have survived.
If you can buy then go for it yes .
Don't bother insuring a house you don't own .only your stuff in it.
Look hard at the outlook you have.
The property crash in the 90's caught allot of people out.
Remember you need to keep sane for your kids .
-Ralph-
31-12-12, 10:49 AM
I hope to have 20 years retirement between retiring and needing care. I dont have a pension and friends of mine have lost money on thier pensions in recent years so there is no point starting one now. I have bought a 5 bedroom house, much bigger than we need for a family of three and more expensive on mortgage payments and mortgage term than would really be comfortable. I'm also planning to buy a small house on 25 year buy to let now that house prices seem to have hit rock bottom an are climbing slowly. I have 30 years to work and 20 years left on the main mortgage (hopefully less as its offset), in the last 10 years of work, I plan to continue paying the same amount per month and buy a flat. In short I'm putting every spare penny I have into property, despite the crash it is still the most secure investment you can make. Then once we retire I will sell the big house for a cash retirement fund, move into the small house, and continue to rent the flat for some regular monthly income. The cash retirement fund should be pretty much spent on enjoying our retirement by the time either of us need to go into a care home, and the flat will be bought in my sons name.
Buying a property doesn't just have to be an asset to be surrendered when you get old, if you plan it properly and are prepared to move to a smaller house or flat when you retire to release the cash.
All I can say is this .
My partner has a freind who got into debt tying to hold onto a house.
It got so bad they went to a very dark place .
Fortunately they did sell there home. What was left got them in rented accom.
When that mony ran out because they didn't intentionally make them selves homeless the service found them a place .
Surely thats living beyond your means, not the house being a stone around your neck
Yes a great plan.
Only wish my dad would do the same with his home .
But its his way and at 80 his doing ok with his pension .
Surely thats living beyond your means, not the house being a stone around your neck
They were fine still they both were made redundent .
With out my wage I could not pay my mortgage.
Do you say I'm living beyond my means.
If I had cancer tomorrow and couldn't work the house would be on the market asap .
yorkie_chris
31-12-12, 12:29 PM
We rent at the moment and the lack of security does prey on my mind quite a bit.
Insurance/tax/petrol are expensive items if you`re not using the bike much.
Having been a single parent and a struggling one at that if you aren`t actually using the bike that much and selling it is the difference between ie. paying an electricity bill and having your electricity cut off or paying your years council tax versus having to take out a loan at extortionate interest rates to pay your council tax then i`d say sell it.
Insurance/tax/petrol are not required if you're not using it...
You could sell it but that sort of thing you can only do once. Would be better looking to see where else you can make savings.
Short term yeah, but then the next month "fictitious person" would spend £10 on a taxi to a job interview rather than 50p in petrol. Short term you pay the council tax to shoot yourself in the foot long term. Sell the TV set, anything else of value before the bike, because it's something that gives you capabilities and options. Or, sell it and get a GS500 or something instead if for example you're short of £50 a month and running a fireblade.
missyburd
31-12-12, 01:11 PM
Sell the TV set, anything else of value before the bike, because it's something that gives you capabilities and options.
Maybe not the TV if you've got kids, I think it's the one thing that keeps them occupied enough to give parents a small break to do other stuff! But yes, there must be other things of value that you wouldn't miss so much. If you've an older bike then the money you get back from it won't last long at all. And once you've sold it you'll start thinking about getting some dosh for you helmet and leathers etc and then it's far more likely to take you much much longer to get back into it.
They were fine still they both were made redundent .
With out my wage I could not pay my mortgage.
Do you say I'm living beyond my means.
If I had cancer tomorrow and couldn't work the house would be on the market asap .
I'm guessing that they didn't have endownment policies or payment insurance in place then incase they were unable to work.
I don't know what your financial situation is, nor what policies you may have in place should something happen meaning you could not work.
Can't justify the cost of critical illness insurance.
Most of my family have heart issues. So hopefully ill just peg out in a week at most .
Life insurance is expensive enough.
Life is a gamble.
You play the odds how you feel.
I rent a much nicer house than I could ever afford to buy and the landlord sends a nice man who comes and fixes all the problems that happen with it and even trims my hedges.
In the mean time I am investing the money I save much less risky things than the property market.
I agree with NTECUK, it's a curious English trait that everyone feels a failure unless they are on the artificially inflated "property ladder".
Anyway, back on topic, don't sell your bike!
-Ralph-
31-12-12, 07:35 PM
I rent a much nicer house than I could ever afford to buy and the landlord sends a nice man who comes and fixes all the problems that happen with it and even trims my hedges.
In the mean time I am investing the money I save much less risky things than the property market.
I agree with NTECUK, it's a curious English trait that everyone feels a failure unless they are on the artificially inflated "property ladder".
Anyway, back on topic, don't sell your bike!
What you investing in mate? Is it returning more per month than you are shelling out in rent?
Sell the kids or go on the game. Simples.
-------
Sent from my Sony Xperia S using Tapatalk2
I rent a much nicer house than I could ever afford.
I agree with NTECUK, it's a curious English trait that everyone feels a failure unless they are on the artificially inflated "property ladder".
I look at my sister renting, and they dont have the repair and maintenance costs Ive got, their rent is very similar to my mortgage, and they have no negative equity costs to worry about.
2 past houses Ive owned, the neighbouring houses have had horrific rental tennants, and Ive had to move house, would have saved a fotune on moving fees had I been renting, could have seen out my term and buggered off somewhere new, I can see the benefits of it.
The only downside I can see is when your retired, having to fork out a substancial amount of money each month, when funds will be more limited and a mortgage would have likely finished while still in work.
Specialone
31-12-12, 08:19 PM
Renting is also dead money, you rent for 25 years and you have bugger all at the end of it, if you own your house then at least you will have an asset at the end of it, which could help in your retirement.
If renting was substantionaly (*sp) cheaper then yeah it would make more sense, but it's similar costs so it's a no brainer IMO.
But if dont sell your bike ....
But if dont sell your bike ....
whats that about bikes :confused: ;)
What you investing in mate? Is it returning more per month than you are shelling out in rent?
I bought a house in 2005, had it for 6 years, spent about 3k in maintenance and decorating, and sold it for 2k less than I paid for it. In that time I paid off about 3k of the mortgage even thought I was paying 700 a month, which was about 200 more than the rent would have been.
My current house, the rent is about 600 a month less than the mortgage would be.
I will buy another house at some point but that will probably be the last place I buy
-Ralph-
01-01-13, 07:16 PM
I bought a house in 2005, had it for 6 years, spent about 3k in maintenance and decorating, and sold it for 2k less than I paid for it. In that time I paid off about 3k of the mortgage even thought I was paying 700 a month, which was about 200 more than the rent would have been.
My current house, the rent is about 600 a month less than the mortgage would be.
I will buy another house at some point but that will probably be the last place I buy
Yep, unfortunate timing, but it's only dipped that badly twice in the history of the housing market, and percentage wise your losses were relatively small. I know people with shares that have crashed and lost a hell of a lot more than that. Some UK customers lost money in the Icelandic banking crisis when they thought their money was in the bank and 'safe as houses' (where does that expression come from?).
Had you bought in early 2008 and sold in 2011, you'd have lost a hell of a lot more because you'd have paid more for the house, but had you sold in early 2008 you'd have made a mint. Any investment has an element of timing involved and for low risk/long term, you still can't beat property for keeping your money secure.
The September 2008 crash was an exceptional circumstance, but if you look at a house bought 10-20 years ago, despite that crash, they have still made 5-6% per year, which is what you expect from property. The crash you experienced just rebalanced returns back to that realistic level.
You can't use the 2008 crash as justification to say property is not a safe long term investment. Of course it could crash again, but any investment carries risk, where can you put your money where there is no risk?
I'm not too bothered if properties I buy never appreciate, if in 20 years time they are worth the same as the day I bought them that's great because I didn't buy them, the tenants paying the rent did.
At £600 a month less than the mortgage though, you need to buy your landlord a nice xmas present!
But what ever you decide don't sell your bike ;)
what you talkin bout willis :D
Nick_69
02-01-13, 09:50 AM
Ive just joined the house owners club and when i was buying it, my dad said to me that i should sell the bike. only a biker will ever understand the reason for mot selling your bike when you need money, this will never change because if you dont own or ride bike you you will never understand what a bike gives you back in return.
Hia
Sorry to read this, sounds like a right ****ter of a situation. My mum was left by my dad when I was a nipper, she managed to bring my sister and I up on her own, even had her own businesses after a while :) So there's definitely hope!
If you have lots of outgoings that aren't household bills (i.e credit repayments of any form) contact the CCCS and they'll help you bring the payments down to a manageable amount each month until you're back on your feet, it won't adversely affect your credit rating and WILL help, trust me!
All the best, I hope it all works out for you sooner rather than later :)
Owenski
02-01-13, 03:13 PM
Had you bought in early 2008 and sold in 2011, you'd have lost a hell of a lot more because you'd have paid more for the house, but had you sold in early 2008 you'd have made a mint.
Damn straight!
First hand experience of both the good and the bad on this front!
While I rented the missus bought her first house in 2002. Near Halifax centre it was a 2 bed terrace with a little garden to the front costing her £32,000.00 she took out an interest only mortgage on it paying £250 a month.
For us to buy our first joint home she sold this property in December of 2007 for £97,000.00 having spent £5000 on a new bathroom and kitchen.
Unfortunately that meant we bought at the "worst time possible". We paid £144,000.00 for a 3 Bed semi with off street parking and small garden to the rear. The house was £30,000.00 under value due to incomplete works (owner was renovating it as a money maker but then went through a divorce so it had to go). We lived in it and completed the works from 2007 until August this year we spent £25,000.00 finishing off the renovation work.
We sold it for £140,000.00, we lost £30,000.00 on that house buying at the worst possible time and selling again at the worst possible time.
So to read between the lines...
Housing market over 2 consecutive 5 year periods: Gain 65k then loose £30k you're still £35k up, as has been said - No brainer.
OP,
If you sell your bike now, if you’re not in dire straits then as in my case it took over 10 years to justify getting another bike, unless you need it to commute then you’ll never have a just case to buy a bike just for fun.
Imoho I would keep hold of the bike for as long as I can, sorn it in the mean time if need be.
vBulletin® , Copyright ©2000-2025, Jelsoft Enterprises Ltd.