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!!!

Even with sofa surfing and not rent/bills to pay, to be able to save £2000 a month they must have been on fairly good salaries. Me and my dp don't earn that between us on our full time jobs.

What I do know, is that my 20 yo DS, who lives at home and rarely goes out (once or twice a month) and works part time in a supermarket has managed to save nearly £8,000 in a year, after paying me £60 a month rent.

Yes, this is how he has been able to save the money.

And there are those of us who can get a deposit but no hope in he'll of a mortgage.

YABU and completely generalising.

To be honest OP, from everything you have written you really don't have a clue about real life.

YABU.

I do own my own house (heavily mortgaged), because DH was lucky enough to have savings from his parents which paid our deposit. On our fairly average salaries we would never have been able to save for a house. We are facing the reality at the moment of potentially having to sell up and move in to rented because we simply cannot afford it anymore. We have sold both of our cars in the last couple of months too.

The ONLY 'luxuries' we have are a dog and a cat. The only time I ever went to a nail salon was for my wedding, and I haven't been near a hairdresser for over two years. I can't remember the last item of
clothing I bought, and my shoes actually have hole
s in them.

Life is just incredibly expensive these days, but that does not mean that young people are all frivolous spenders and have no eye for their futures. My future terrifies me, but what am I meant to do about it when we barely have enough money to live for now?

So you admit if your son had been renting he wouldn't have been able to save!! What do you think its like for most people?

And to save 2000 a month. We don't even have that coming in. Then take of rent, bills, etc and the fifty quid left over is far more likely to go on 'stuff' than saving for a house as its not ever going to be enough.

You should instead be very grateful your son was in the fortunate position of a well paid job and the family wealth to be able to sofa surf!!

Where I live I'm inclined to agree- even though I can see that's an unpopular thing to do on this thread.
At my place of work we get younger people starting on a goodish wage and they still live at home rent free. The first thing they do is buy a posh car on hire purchase at 200 a month. The girl who covered my maternity spends 80 a month a t hairdressers, 200 on car, arious fake tans, nails etc. Probably adds up to 500 a month. She could save up an adequate deposit for a 2 bed terrace round here in 2 years as a single person.
I am 29ived very frugally, saved a deposit for a house on my own, paid to do the work on it- paid 13k loan for the work off in 2yrs. And now on next step of ladder but again a do er upper.
But all my clothes have holes in, my car is 13 years old and we have had to work really hard doing our house up.

How smug is the OP?! I don't fritter away and have saved hard for the last 7 years but it's peanuts compared to what I need for a deposit. But hey, I can generalise too - all older people are such nags! Now, that would be silly and rude and untrue.

Well 2 years with no rent/utilities/council tax etc to pay - that's a hell of a lot of starbucks.

I don't think the majority of 'young' people are getting beauty treatments etc all the time but equally all that stuff is a lot cheaper than when I was young. I mean you can get a manicure for less than £10 and a new primark outfit for less than £20 (ignores ethics of this).

Property prices are crazy and I feel very sorry for the younger generation now.

To be honest OP, from everything you have written you really don't have a clue about real life.

Yep, completely and utterly out of touch, and a bit daft to base her assumptions on her son's experience of living rent-free for two years!

Yep, completely and utterly out of touch, and a bit daft to base her assumptions on her son's experience of living rent-free for two years!

^yeah that was one helluva drip feed!

Your OP says you think people could buy a house if they gave up luxuries. Your later post says your son gave up rent, council tax, and utility bills? Those aren't luxuries! Your whole op makes no sense now you've said that.

YABU OP.

House prices have gone up so much the 'average' house price is a far greater multiple of the 'average' annual salary. My parents paid 5K for a house in the early 1970s.

You make awful sweeping generalisations about young people. Very holier than thou.

With property out of reach people do want to live for the moment. Saving up, pensions etc feel hardly worth it when interest rates are so low. These interest rates ought to benefit first-time buyers but they don't because property prices are so extortionate.

There are far, far more consumer goods available and more pressure to have them.

And your spelling and grammar are atrocious btw; I hope you got your thesis proof read

wow, such venom, . People are making assumptions about me, ie am out of touch etc. I am far from out of touch!!!!!!! I am fully aware how lucky DS was, and that is not the norm for the majority of people. I am fully aware of the challenges facing young people, with pressures from work/housing/life in general. My point was actually the amount of money that is spent on short term things, ie nails/tans/gadgets/clothes etc, by people complaining that they never have any money. People have choices, in no way was i being critical, how people choose to spend their hard earned money is up to them, but you cant have everything. Each person chooses how to spend their money, and thats fine. But please dont make assumptions about me from a single statement i made!!!!! Quite new to mumsnet, never realised it would be like this.

Well loftladder - if you start threads making quite mean judgements about other people - be prepared for some strong responses when you reveal that your son lived for free for 2 years.

Bet he could still buy starbucks and save £2k a month - what with having no bills to pay

Because you are making such a ridiculous huge sweeping generalisation!

I complain I never have any money, because I really don't!! I don't spend money on any of the things you have mentioned, as I said before.
And most of my peer group are in the same boat as me.

I haven't had my hair cut in a year, buy second hand clothes, don't buy magazines etc, if only I had cash to fritter away.
I think it's an easy assumption to make but I think its a sweeping assumption

To a degree, we saved up for a deposit by scrimping on everything. However the house we bought in '02 was £65k and our deposit was £5k our mortgage was £385pm. Its not like that now for first time buyers. I wish I still had that mortgage but not that shit location. In hindsight we should have paid more off the mortgage to help us in future.

Well OP, I did save up when I was in my 20s; I did buy a flat as a single girl and I earned a lot of money, even in the 80s, but even then in London when the multiples were low(ish), I lived in penury for the first few years and was jolly glad I had had a bit of a whirl in my late teens/very early 20s.

I don't think it's wrong to have a bit of fun when young people know there are hard yards ahead of them; I hope my children do.

Now with a bit of substance behind me I love the hairdressers and my regular colour and nice make-up and perfume and clothes when I want them. I also like making sure DS and DD within reason have some of the stuff they want too.

Am 53 OP and I do agree with some of what you say but when the big things are out of reach; I think the little things matter more. It's a bit like when you can't go out because you can't afford it - who can resent you having a packet of fags and a bottle of wine from time to time - providing no one goes hungry.

Don't know really but also I don't know what's wrong with having your nails done and your hair done or even having a nice car providing it's in your own personal budget.

So really your OP should read "I don't understand why some people spend money on some things. If they didn't they'd have money for some other things"

And yeah, if we all lived rent/bills free for 2 years we would be rich indeed

The point is, it's nothing at all to do with age. Many young people do not see any of the things you mention as necessities. Most of the posters on this thread, for starters.

one last comment, and this is directed at those who have slammed me. Picture this.....group of young proffesionals in 20's/30's, eating their shop bought sandwiches and coffees, facebooking on their up to the minute i phones, whilst discussing what they were going to do over the weekend, which involved shopping for clothes, going to the hairdressers and beauticians, going to pubs and resturants. Then in the next breath saying they couldnt afford to pay their road tax/buy a car/afford to go on holiday. This is what i hear most days. What would be the first thing that springs to your mind, be honest.......

Your colleagues are poor at budgeting.

That's the only conclusion you can make from what you've posted.

Not generalise about an entire generation.

But do you not agree its pretty ignorant to then assume that applies to all young people?