Harpodom Posted May 15, 2013 Share Posted May 15, 2013 Its not that bad, just don't get pissed on it, causes evil hangovers Quote Link to comment Share on other sites More sharing options...
Guest Guest 47403 Posted May 15, 2013 Share Posted May 15, 2013 VB = Very Bad!! :goofy: VB = Visitor beer............give to those you don't want back around in a hurry! Quote Link to comment Share on other sites More sharing options...
paul1977 Posted May 15, 2013 Share Posted May 15, 2013 Vb - very bogan Quote Link to comment Share on other sites More sharing options...
bluewaterz Posted May 15, 2013 Share Posted May 15, 2013 Given that you were struggling on 200k, my only question is "...will you be gone when then morning comes"? BigD 200K? Who the hell was struggling on 200k??? It doesn't even sink in! How can this not be enough? Gluttony comes to mind... In my opinion if you were struggling on 200k then you will def struggle in the uk... And don't count on finding a job with the same salaries you used to have when you were there... Things are very very hard now-a-days people are fighting for jobs and you are lucky to have £30,000+ per annum Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted May 15, 2013 Share Posted May 15, 2013 200K? Who the hell was struggling on 200k??? It doesn't even sink in! How can this not be enough? Gluttony comes to mind... In my opinion if you were struggling on 200k then you will def struggle in the uk... And don't count on finding a job with the same salaries you used to have when you were there... Things are very very hard now-a-days people are fighting for jobs and you are lucky to have £30,000+ per annum That depends on the job. My role for example pays very well in Oz - in excess of 200k, but higher in the UK Also, yes, a person can struggle on 200k. It depends on what you are used to. Its like saying that nobody should struggle on jobseekers, as after all, there are a lot of Africans on a dollar a day. If you are used to a certain lifestyle from a certain income, then if that income is reduced, it is a struggle. Particularly if a person has obligations based on a particular income. Quote Link to comment Share on other sites More sharing options...
Guest guest76088 Posted May 15, 2013 Share Posted May 15, 2013 The now-unemployed person to whom that related was a household income with both partners working. BigD That depends on the job. My role for example pays very well in Oz - in excess of 200k, but higher in the UK Also, yes, a person can struggle on 200k. It depends on what you are used to. Its like saying that nobody should struggle on jobseekers, as after all, there are a lot of Africans on a dollar a day. If you are used to a certain lifestyle from a certain income, then if that income is reduced, it is a struggle. Particularly if a person has obligations based on a particular income. Quote Link to comment Share on other sites More sharing options...
Guest chris955 Posted May 15, 2013 Share Posted May 15, 2013 Yes I was thinking that, an incredible generalisation. That depends on the job. My role for example pays very well in Oz - in excess of 200k, but higher in the UK Also, yes, a person can struggle on 200k. It depends on what you are used to. Its like saying that nobody should struggle on jobseekers, as after all, there are a lot of Africans on a dollar a day. If you are used to a certain lifestyle from a certain income, then if that income is reduced, it is a struggle. Particularly if a person has obligations based on a particular income. Quote Link to comment Share on other sites More sharing options...
Guest guest76088 Posted May 15, 2013 Share Posted May 15, 2013 It is a case of cutting cloth to suit when circumstances change and your willingness to do that. It is not just about liquidity and long-run commitments, but expectation of lifestyle; pride and ego; attitude to debt and risk and plain stupidity. What does making-ends-meet on a salary several times the average actually mean? Do they have bridging finance or savings to see them through the period of unemployment or do they have a wallet full of credit cards and were living the highlife with no safety net? BigD That depends on the job. My role for example pays very well in Oz - in excess of 200k, but higher in the UK Also, yes, a person can struggle on 200k. It depends on what you are used to. Its like saying that nobody should struggle on jobseekers, as after all, there are a lot of Africans on a dollar a day. If you are used to a certain lifestyle from a certain income, then if that income is reduced, it is a struggle. Particularly if a person has obligations based on a particular income. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted May 15, 2013 Share Posted May 15, 2013 It is a case of cutting cloth to suit when circumstances change and your willingness to do that. It is not just about liquidity and long-run commitments, but expectation of lifestyle; pride and ego; attitude to debt and risk and plain stupidity. What does making-ends-meet on a salary several times the average actually mean? Do they have bridging finance or savings to see them through the period of unemployment or do they have a wallet full of credit cards and were living the highlife with no safety net? BigD In yesterday's Sydney Morning Herald on budget reaction, they featured a number of RL individuals commenting on what the budget did for them (I don't think this is available online). One bloke there was quoted as having a salary of over $200K and described as "high income". Trouble is, he also has a $900K mortgage on his family home, $600K mortgage total on 2 investment properties, and $150K of shares which he's bought with the aid of a $130K loan I'd say he was on a knife edge personally. Such a level of leverage is insane IMO. The fact that the tax system encourages this sort of behaviour through negative gearing rules is even more insane Quote Link to comment Share on other sites More sharing options...
Rupert Posted May 15, 2013 Share Posted May 15, 2013 (edited) 200K? Who the hell was struggling on 200k??? It doesn't even sink in! How can this not be enough? Gluttony comes to mind... In my opinion if you were struggling on 200k then you will def struggle in the uk... And don't count on finding a job with the same salaries you used to have when you were there... Things are very very hard now-a-days people are fighting for jobs and you are lucky to have £30,000+ per annum Perhaps "struggle" does not properly explain the situation. Perhaps "struggle to live the preferred lifestyle" is a better way of putting it, I would most definitely struggle to live the lifestyle I want on that and in Sydney where housing is so expensive and so would plenty. Could I feed myself though, well yes of course, but I would like to do more than that. Edited May 15, 2013 by Rupert Quote Link to comment Share on other sites More sharing options...
PomPrincesses Posted May 15, 2013 Author Share Posted May 15, 2013 Well luckily we are not in debt but unfortunately the government doesn't let you keep all $200,000. I think you end up with about $140,000 in your pocket which in our household equates to $17,000 per person per year after rent but not before bills. When you consider benefits are above that level for doing nothing but sit on you're arse it gives it some perspective doesn't it. Quote Link to comment Share on other sites More sharing options...
Johndoe Posted May 16, 2013 Share Posted May 16, 2013 Well luckily we are not in debt but unfortunately the government doesn't let you keep all $200,000. I think you end up with about $140,000 in your pocket which in our household equates to $17,000 per person per year after rent but not before bills. When you consider benefits are above that level for doing nothing but sit on you're arse it gives it some perspective doesn't it. Would you care to illustrate that statement with data? My experience is that after rent (which you have quoted) nobody that I know on benefits has anywhere near that amount left...................newstart allowance is a struggle for an unemployed person with kids, even allowing for rent allowance. Your (individual) division of income to allow for your kids, is also flawed. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted May 16, 2013 Share Posted May 16, 2013 That depends on the job. My role for example pays very well in Oz - in excess of 200k, but higher in the UK Also, yes, a person can struggle on 200k. It depends on what you are used to. Its like saying that nobody should struggle on jobseekers, as after all, there are a lot of Africans on a dollar a day. If you are used to a certain lifestyle from a certain income, then if that income is reduced, it is a struggle. Particularly if a person has obligations based on a particular income. There might be a lot of Africans on a dollar a day but they are living in Africa. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted May 16, 2013 Share Posted May 16, 2013 In yesterday's Sydney Morning Herald on budget reaction, they featured a number of RL individuals commenting on what the budget did for them (I don't think this is available online). One bloke there was quoted as having a salary of over $200K and described as "high income". Trouble is, he also has a $900K mortgage on his family home, $600K mortgage total on 2 investment properties, and $150K of shares which he's bought with the aid of a $130K loan I'd say he was on a knife edge personally. Such a level of leverage is insane IMO. The fact that the tax system encourages this sort of behaviour through negative gearing rules is even more insane The tax system may well encourage this kind of behavior but if the guy has an ounce of common sense he must realise he could be broke in pretty sharp time. No-one made him get the investment properties and shares. The $900k mortgage wouldn't be too bad to manage on the money he's on. Some people are just greedy. I've already written about one of my friends who sounds a lot like the guy you talk about. He used to come round our house and say "you should be doing this" all the time, almost got my missus believing it. Then used to complain that he had to go and do a bit of work at one of his investment properties at the weekend. He used to see me going down the beach at the weekends and say it's all right for you. Used to just say sell a couple of your properties and you could do the same. He couldn't see it. They nearly lost everything, including the house they paid cash for when they came. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted May 16, 2013 Share Posted May 16, 2013 Oh yeah, I think he's mad Thing is though, the system encourages it. It's part of the reason Australia has a big problem/risk with private debt. Public debt situation is OK, but private indebtedness is dangerously high. Why? Because people like this guy are borrowing big to speculate on long term capital gains (and primarily are doing so because there is a big tax break to encourage them), and partly because of the high level of house prices vs household incomes. The house prices themselves, of course, are stoked up by demand from investors who are using those tax breaks Media doesn't help. That same issue of the SMH had an article that was advising people to "pay down debts" and at the same time "borrow to boost investments". Schizophrenic or what? See here: http://www.smh.com.au/money/saving/grow-a-surplus-of-your-own-20130514-2jitq.html Quote Link to comment Share on other sites More sharing options...
Ellie 2 Posted May 16, 2013 Share Posted May 16, 2013 Can't believe anyone would not live well on $2566 per week. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted May 16, 2013 Share Posted May 16, 2013 Oh yeah, I think he's mad Thing is though, the system encourages it. It's part of the reason Australia has a big problem/risk with private debt. Public debt situation is OK, but private indebtedness is dangerously high. Why? Because people like this guy are borrowing big to speculate on long term capital gains (and primarily are doing so because there is a big tax break to encourage them), and partly because of the high level of house prices vs household incomes. The house prices themselves, of course, are stoked up by demand from investors who are using those tax breaks Media doesn't help. That same issue of the SMH had an article that was advising people to "pay down debts" and at the same time "borrow to boost investments". Schizophrenic or what? See here: http://www.smh.com.au/money/saving/grow-a-surplus-of-your-own-20130514-2jitq.html Let's face it NS. No matter what the "system" is there are always going to be people willing to take risks and be greedy. a lot of time they have a great lifestyle spending the banks and other peoples money then when it all turns bad declare themselves bankrupt and start again. I used to work for British printing Corporation when Robert Maxwell took it over and then took the money from the Super scheme. When he committed suicide a couple of years later it was interesting to read up on his past and how the rest of the family couldn't be touched to get the money back. Don't know what Americas tax system is like but the UK doesn't have the same and still has a lot of people in strife. What's their excuse? Most of them got sucked into the cheap credit that the banks were dishing out not long back. Quote Link to comment Share on other sites More sharing options...
Johndoe Posted May 16, 2013 Share Posted May 16, 2013 I used to work for British printing Corporation when Robert Maxwell took it over and then took the money from the Super scheme. When he committed suicide a couple of years later Aha!!!!! But did he though? Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted May 16, 2013 Share Posted May 16, 2013 Let's face it NS. No matter what the "system" is there are always going to be people willing to take risks and be greedy. a lot of time they have a great lifestyle spending the banks and other peoples money then when it all turns bad declare themselves bankrupt and start again. I used to work for British printing Corporation when Robert Maxwell took it over and then took the money from the Super scheme. When he committed suicide a couple of years later it was interesting to read up on his past and how the rest of the family couldn't be touched to get the money back. Don't know what Americas tax system is like but the UK doesn't have the same and still has a lot of people in strife. What's their excuse? Most of them got sucked into the cheap credit that the banks were dishing out not long back. While individuals may have a tendancy towards greed or at least easy money, while doing the least possible to earn it, it is irresponsible for government and media to be a participant and encourage it. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted May 16, 2013 Share Posted May 16, 2013 Aha!!!!! But did he though? From memory as corrupt a bully as they came. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted May 16, 2013 Share Posted May 16, 2013 While individuals may have a tendancy towards greed or at least easy money, while doing the least possible to earn it, it is irresponsible for government and media to be a participant and encourage it. Add to that the banks. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted May 16, 2013 Share Posted May 16, 2013 In yesterday's Sydney Morning Herald on budget reaction, they featured a number of RL individuals commenting on what the budget did for them (I don't think this is available online). One bloke there was quoted as having a salary of over $200K and described as "high income". Trouble is, he also has a $900K mortgage on his family home, $600K mortgage total on 2 investment properties, and $150K of shares which he's bought with the aid of a $130K loan I'd say he was on a knife edge personally. Such a level of leverage is insane IMO. The fact that the tax system encourages this sort of behaviour through negative gearing rules is even more insane Afraid there are a number like that. Come a prick in the housing bubble and these folk are in serious trouble. Not just the individuals concerned but the banks and the country. Quote Link to comment Share on other sites More sharing options...
Rugby Lad Posted May 16, 2013 Share Posted May 16, 2013 In yesterday's Sydney Morning Herald on budget reaction, they featured a number of RL individuals commenting on what the budget did for them (I don't think this is available online). One bloke there was quoted as having a salary of over $200K and described as "high income". Trouble is, he also has a $900K mortgage on his family home, $600K mortgage total on 2 investment properties, and $150K of shares which he's bought with the aid of a $130K loan I'd say he was on a knife edge personally. Such a level of leverage is insane IMO. The fact that the tax system encourages this sort of behaviour through negative gearing rules is even more insane Is the SMH going for some sort of idiocy award with its financial advice? I normally only read the Sport and, very occaisionally the Comment pieces on there but clicked the link you provided and then found this: http://www.smh.com.au/money/saving/creative-ways-to-reach-your-first-million-20130415-2hv34.html I particularly liked the advice to play the lottery if you wanted to make a million. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted May 16, 2013 Share Posted May 16, 2013 While individuals may have a tendancy towards greed or at least easy money, while doing the least possible to earn it, it is irresponsible for government and media to be a participant and encourage it. Exactly that Afraid there are a number like that. Come a prick in the housing bubble and these folk are in serious trouble. Not just the individuals concerned but the banks and the country. That's my point. I don't care what individuals do with their personal finances, not my problem and not judging them from a moral standpoint. The issue is the building up of risk to the nation's economy. If a taxation system encourages this sort of leveraging (which it does), then the number of people doing it will be greater, can't be any other way. At some point (I would certainly argue Aus is way beyond this) you get to a tipping point where so many have skin in the game that the government can't allow asset values (of whatever asset class) to fall. Because if they do, the rest of the economy, especially consumption, will be severely damaged, leading to recession. And then the government is hamstrung when it comes to economic policies. Leverage works both ways, in finance as well as in mechanics. That's why it's called that Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted May 16, 2013 Share Posted May 16, 2013 It is a case of cutting cloth to suit when circumstances change and your willingness to do that. It is not just about liquidity and long-run commitments, but expectation of lifestyle; pride and ego; attitude to debt and risk and plain stupidity. What does making-ends-meet on a salary several times the average actually mean? Do they have bridging finance or savings to see them through the period of unemployment or do they have a wallet full of credit cards and were living the highlife with no safety net? BigD The thing is, there are a lot of people for eample in WA who have been working in mining for a number of years, now have a mortgage / car finance and thing based on the assumption of a six fugure salary coming in. There are now a lot of guys who are being laid off and finding that the job in Perth is only going to pay half what they are used to and so are now in dire straights. Its not because they were all loose with the cash, just that they build a lifestyle, as we all do, based on a certain income. If that income is reduced a lot, then problems arrise Quote Link to comment Share on other sites More sharing options...
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