to think if young people spent less on clothes/beauty treatments/gadgets,

[loftladder]

they would be far more likely to be able to save for big things like deposits for a house. I work with people of a wide age range. Those in their 20's and 30's bemoan the fact that they cant afford to buy a house/car/other large item. however, these are the people who visit the beautician regularly for nails/waxing/highlighting/tanning, buy at least a couple of items of clothing per week, and go on expensive holidays/change their phone as soon as a new one comes out..............have they never heard of saving, will the world end if they dont get their nails done, or use a good old bic razor. And are a couple of holidays a year essential. I may be a bit old fashioned, but i managed to do without any of these things, and it never did me any harm!!!

We're not all like that

And even without frittering your money on crap it's still bloody hard at the moment.

You know your OP makes you sound REALLY OLD

Up to a point, I agree. It's easy to waste money on stuff like coffee every day, magazines, M&S sandwiches etc.

But property prices are ridiculous (esp in London where I am) as are rent prices, and unless you have a high salary in can be almost impossible to save for a house while shelling out £800 a month on rent.

I've never been to the beautician for nails/ waxing/ tanning (I am rather partial to my highlights though!)

I haven't been clothes shopping in over a month.

I went on a nice holiday over a year ago (first big expensive holiday I have paid for, saved up for a year for it), but didn't do a proper holiday this year (a couple of mini breaks), and probably won't for another few years.

My phone is over 2 years old, and I'm planning to keep it going until it dies.

And I can't afford a house.

Are you saying young people should go without any luxuries at all?

YABU.

Do you know how much typical deposits are theses days? Or the cost of rent you have to pay while saving?

We saved 40,000 - took years and we didn't have a huge deposit for house value - less than 25 %. In fact our house is worth much less than the 'average' house as well.

That was more than a few holidays and coffee or beauty treatments - though we spent years without those and in fact years after buying unable to afford those.

That's only some people. There are a lot more out there who don't have enough money for any of those things and still can't afford a place of their own. It's not always due to young people frittering away their cash - sometimes, there just isn't enough to live on.

yabu, I know of several people who don't fritter their money away but will still need parental help to get them on the property ladder.

The problem is that the gap between the frivolous stuff and the big stuff is just too big. Yes people waste money on all manner of crap, but if they didn't (as I don't) they find themselves with fairly decent savings in terms of a number in the bank, but absolutely nowhere near enough for things like housing.

YABU. Mass overgeneralisation of 'young people'.

I'm 24, and cannot save for a deposit. I have a 19 month old and do everything myself, and not buying many clothes. DD gets everything I can give her, within reason obviously. I've just worked out I have £30 left per week for food/petrol/etc. I was paid during the week

On the other hand, my DB is like this. I've tried telling him how hard it is, but he knows best of course. I think it all comes do?n to how well you budget and how you treated money when younger. And having a child has made me rethink about how much I used to spend on things like my hair and going out.

I sport the MN haircut

Frittering on crap/materialistic stuff is it's own problem.

House prices/deposits is a whole other can of worms.

Yanbu, but think it applies to a lot of people, not age specific

Just to add, I didn't drive for 2 months recently. I saved over £200 each month. It was crazy, and it still makes me feel sick when I fill up.

We're not all like that- but some 40/50/60 year olds are.

Btw i'd be very surprised if anyone has managed to save enough deposit for a mortgage in their 20's these days. 30's is a bit more realistic tbh.

I do wonder if it seeming so impossible to save for a house actually puts people off even trying.

Don't be silly. I'm not into nails and things but suppose I was - it can't cost more than 20 quid a week? That would never equate to a deposit for a house or a car!

I've only been to a hairdresser 3 times in my life, let only beautician.
we live in london, we have to for work, we live in as cheap an area as far out as we can, in the cheapest flat we could find, but still there's nothing left after rent and bills and food (mostly value and meal planned to the nth degree)
I managed to save up 1500 over the period of 3 years. we'd need around 20,000 for a deposit on anything here. not going to happen anytime soon.

And the ones that do spend on those luxury things? they've probably decided to just give up on saving the insane amount they would need for a deposit, and enjoy themselves. can't say I blame them.

I can see your point but think of how much the economy would lose if people decided they aren't going to buy clothes, they aren't going to go out or on holiday and they aren't going to use beauticians.

As an ex retail manager without youngsters or baby boomers spending we would have been screwed

I think a lot of young people can't afford to buy a house or even rent. So they spend their wages. I think the housing bubble will burst eventually. It just simply can't be sustained when you look at earnings.

"let alone a beautician"

In some areas what you say is true - where I live now, a teacher could save for five years say and buy a lovely two bed flat. So here, you would be right.

In London and the south east house prices are so insane you are wrong. Two doctors could save for twenty years and not have enough for a deposit on a family home. It is so dispiriting, and owning a property is so vastly out of reach, by would you bother? You'd have a nice time instead.

We moved from London when we wanted to have children and settle. I'm so pleased we did.

well, if you cut back on allthose frivolities you might save £5000 a year, which is a hefty down payment on a house

if you live in 1983 like the OP seems to

What a silly sweeping generalisation. Are you also going to say that the young people of today have no manners?

YABU. A bog standard 3 bed house goes for around 300,000 round here. It's not the kind of loose change one finds down the back of the sofa.

Also, I'm a Goth and I wouldn't get a spray tan or a bleach job if they paid me so you can stop with that stupid generalization as well.

dont get me wrong, i definately think that some pleasure has to result from hard earned money, and not all should go straight into savings. My ds1 and his fiance have just bought first house, saved hard to get deposit, but they allowed themselves "pocket money" each month, either to spend, or put towards holiday/weekend away. They did this for 2 years, as live in south east, with aaaagh house prices, but they felt it was worth it, and their mortgage is actually not much more than they were paying in rent, so they felt it was well worth the sacrafice. They also discovered charity shops, and got some amazing high end label clothing.

Please don't be so offensive. I don't buy any of those things and cannot afford a deposit. We pay substantially more in rent than we would pay on a mortgage for a similar house. We have been fucked by the generation who went to university with a grant and no fees, then introduced fees and loans, and bought their houses for £20,000 and sat on them until they were worth £400,000. Sadly we will also have to work until we are seventy to pay pensions and healthcare for these people.