Anyone other Gen-Zers on here sick of daily life

[lorrisandthesnowman]

Just that really. Endless bills, no hope ever of getting on the property ladder as the mummy and daddy bank wasnt an option, paycheck to paycheck living. The fruitless thought cycle of if we should have children/can we/ what would that future even look like.

Or is it just me and im in a bit of a negative slump

40 year mortgage, 10x salary, a long time before any kind of normal life thanks to scrimping and saving… that is just bleak. I feel so lucky that I haven’t had to face this while simultaneously worried about my kids!

i just don’t accept that this level of sacrifice should be normalised and held up as an example.

I’m Gen X. 100% mortgages were late 90s - about 2008. I bought in 2007 and there were none available then.

When I bought my flat late 20s, I was driving an old mini I’d paid maybe £1000 for. Why the expensive car?? You could save £1400’a year giving that up

Sorry OP. Life can be really tough 💐. I'm not sure how old you are? Is there a possibility you could live back with a parent and save for a deposit that way? You'd have £12 k saved in a year for a healthy deposit if you didn't have to pay rent but I appreciate that might not be an option. I hope you get some good support on here

What year did you buy the £1000 car?

Her salary will rise...she was paying £1200 pcm renting a small flat then £800 pcm for a room in a shared flat. Rents go up, mortgages stay stable or get comparatively lower in general over time while the asset usually increases. My £165 pcm mortgage in 1998 was significant in 1998 and peanuts ten years later. It all depends on your viewpoint - if you can eat, heat and live cheaply it's a no brainer for some. For others it's not. I think she's made the right choice and in ten years it'll hopefully be proven.

About 1985. It was ancient even then. My point is, car loan/repayments are something most “boomers” did not have and to say this would save her a lot of money if she downgraded to the kind of jalopy most had in 1980s and 90s

My £165 pcm mortgage in 1998 was significant in 1998 and peanuts ten years later. It all depends on your viewpoint

this is what has changed so much though, people who bought flats for example post Brexit have had to sell at a loss.

Inflation has been crazy post Covid, if you earned 30k 5 yrs ago you need to be earning 38k now just to keep pace with inflation. A 150k property needs to be worth 192k to keep pace.

I'm mid 40s and when I was in my 20s I knew several people who had children and owned houses. I lived in the SE on the commuter belt. I remember wondering how they could afford to buy but now the houses are at least 3 times the price and wages have barely changed. It sucked for my generation but it was nowhere near as bad as it is for yours.

The poster above who said about people not wanting to just grind and want to enjoy life- that has a lot to do with it though. I got my first full time job after uni but didn’t change how I viewed my spending, ploughed every spare penny into savings and bought a flat at 29. I then didn’t go on holiday and was generally careful with money for the next 15 years. Didn’t mean I never bought a coffee out, and I could still afford to do the odd theatre trip etc but I chose cheap hobbies and didn’t buy stuff till I had saved up for it. But the narrative that ‘I am so lucky’ conveniently misses out that during that time, my friends were running nicer cars, doing expensive trips and holidays, buying nice clothes etc.

This is really good advice. It’s so hard nowadays, in 89 I had 100% on a tiny terrace and we were skint for about 20 years. Worked overtime and had weekend 2nd job. No help from parents. Could you move to a different part of UK where CoL is cheaper?

Id imagine if op is only paying £120 per month for a car it's not brand new. £1000 in 1985 is the equivalent of buying £4k car today. £120 per month might actually be buying an old car

2,200 in savings does sound rather low for two people. How long has it taken you to save this amount. How much do you put away each month?

I got a 100% mortgage no questions asked 30 years ago. It was really easy.

No we absolutely did not. Stop making shit up to stoke division.