Back to front living.

[PaulB]

Why do our finances work backwards? The world's not straight.

When we were younger with a young family, we struggled and worked hard, long hours often being forced to spend time away from the kids due to work commitments all to afford a modest home with a small garden. Now we're older, our kids and mortgage have gone, our house is too big and we have more than we need. We could have done with this time, money and space years ago but didn't have it. Now we do, we don't need it. What's the answer to this question that will allow us to live proportionate to what we need at the time we need it? There's no point asking me, I don't know noffink. I'm asking you.

 

[LordoftheTeapot]

I don't know!

 

[PaulB]

I wish you'd tell my parents that. I use that exact reasoning when asking if I can have my inheritance now.

Fazakerly! You want, nay NEED the money while you're young enough to enjoy it.

 

[fossyant]

Buy more bikes then.....

 

[ChrisKH]

Well they do say; youth is wasted on the young, money wasted on the old.

 

[PaulB]

Well they do say; youth is wasted on the young, money wasted on the old.

That would have saved most of the redundant words I used above! It's totally spot on and something I can sympathise with. Although I wouldn't for one second describe myself as old, like!

 

[Keith Oates]

Fazakerly! You want, nay NEED the money while you're young enough to enjoy it.

At what age are you too old to enjoy it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[ChrisKH]

That would have saved most of the redundant words I used above! It's totally spot on and something I can sympathise with. Although I wouldn't for one second describe myself as old, like!

But you're absolutely right, of course. I never had money when I was young either. Now I feel I should horde it, as pensions are going to be so shite in twenty years or I'm going to have to pay more than my parents did (i.e. nothing) to put my kids through Uni.

 

[ColinJ]

Fazakerly! You want, nay NEED the money while you're young enough to enjoy it.

I was going to suggest downsizing and giving the surplus cash to your kids now when they need it, on the understanding that they do the same for your grandkids when they grow up!

 

[PaulB]

I was going to suggest downsizing and giving the surplus cash to your kids now when they need it, on the understanding that they do the same for your grandkids when they grow up!

Suggestion noted! My attitude is to make them stand on their own two feet though otherwise they'll end up like my feckless brother who lets his parents do everything for him including paying his bills and buying his food. They'd wipe his arse if he wanted them to.

 

[colly]

It's can be curse and a blessing having a modest fortune handed down to younger kids. ( not that I have any personal experience of it )

On the one hand it can set them up so that the everyday things are taken care of. Such as mortgage, car etc a bit of cash to spend when and where you want. Very nice. When it runs out though often they will not have the wherewithal or character to be able to go out and make any for themselves.

Rags to riches to rags.

 

[PaulB]

Indeed. My brother was awarded £100,000 in compensation (reduced on appeal to £36,000 but still..) which he recieved when he bacame 18 yet still managed to leave uni £16,000 in debt! He thought he was a modern day Lord Byron!

 

[colly]

Indeed. My brother was awarded £100,000 in compensation (reduced on appeal to £36,000 but still..) which he recieved when he bacame 18 yet still managed to leave uni £16,000 in debt! He thought he was a modern day Lord Byron!

Top man!!

 

[ColinJ]

Perhaps putting deposits down on houses for them would be the way to go? They'd still have to pay their mortgages and other bills and they wouldn't have lump sums of cash to blow, but it would help them get onto the housing ladder.

My parents didn't help me through university, but when I graduated they paid the deposit on my house.