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Re: At least the mighty ORG understands?!

Quote:

Originally Posted by NTECUK (Post 2813144)

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

Re: At least the mighty ORG understands?!

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 .

Re: At least the mighty ORG understands?!

Quote:

Originally Posted by daddyjob (Post 2813198)

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 .

Re: At least the mighty ORG understands?!

We rent at the moment and the lack of security does prey on my mind quite a bit.

Quote:

Originally Posted by Speedy Claire (Post 2812998)

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.

Re: At least the mighty ORG understands?!

Quote:

Originally Posted by yorkie_chris (Post 2813226)

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.

Re: At least the mighty ORG understands?!

Quote:

Originally Posted by NTECUK (Post 2813222)

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.

Re: At least the mighty ORG understands?!

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.

Re: At least the mighty ORG understands?!

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!

Re: At least the mighty ORG understands?!

Quote:

Originally Posted by L3nny (Post 2813272)

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.

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