Financially Ready For Christmas

~ Rob ~ Leave a comment

For the first time ever I’m financially ready for Christmas. NO CREDIT CARDS WILL BE INVOLVED. I’m impressed with myself, this year organised I’m ready for Christmas.

How on Earth I’ve I managed this? It’s all thanks to my new budget and spending diet. The secret is I’ve being saving and simplifying my expenses since February. Downsizing my spending and prioritising my money.

When I announced at that I wanted to pay off all my debt I was serious but I wasn’t sure how to achieve it. It started by thinking about what things and periods of the year got me into debt, it was normally going away for summer holidays and Christmas.

I think it finally has sunk in – if you can avoid getting into debt by saving you won’t need debt. If you are unable to save for as much as you want you’ll resort to using debt.

Small amounts of £20 here and £40 there build up. By hoarding a little money every month you’ll be able to save for things including Christmas, birthdays, holidays and those “treats” that would normally involve using your credit card.

And it works! When you are working you should be able to save money. Saving avoids using debt, or at least using less debt when you make a big purchase like a house or car.
Saving more edges you towards debt freedom. Instead of saving money to pay off debt try to avoid debt in the first place.

The lesson is:

Don’t spend money on debt when you can put a little money aside to prevent it.

Jesus wouldn’t want you to get in debt for him.

Give your budget some attention, give your career some attention, give your fitness some attention, give your happiness some attention.

Millennials are not as Awful as the Media brands them

~ Rob

They are so many ridiculous misconceptions about us. Millennials, or those born between the 1980s and the year 2000 seem to get lots of criticism from the older generations.

Students seem to get bad press and treated with contempt by parts of society. Which I touched on in a past post stereotyping us students.

There are many misconceptions about the student life. We are branded as lazy, spoilt, ungrateful and have easy lives with no idea of the stress of adulthood.

Don’t tell me that when I find myself under the pressures of juggling assignment deadlines, a stack of reading to do, a part-time job to go to plus the cooking and cleaning, bills to pay, fitting in a social life and blog writing. Trust me there is lots to get stressed about. I wish I could do nothing all day and not have to get into debt for studying and working hard.

People seem to think you need a family to support, a full time job, an illness, poverty or a relationship breakup to feel stressed and burned out. I’ve had both of these and in today’s modern world the youth experience worry and stress.

The young are at the most risk of stress, sleeping disorders and mental distress. We are the generation with plenty to be anxious and panic about. Living standards are declining as we are destine to earn less than the older generations, we are building up crippling debt for our education, the job market is bloodthirsty and we may never get on the housing ladder and buy our own home. On top of this our NHS and public services are in dire straits and the environment and planet we live on is fighting for survival.

Students don’t all live in squalor and their own filth. Yes, we like to party, order takeout food, sleep late to recover from hangovers but the next day we are capable of cleaning up the beer cans and empty pizza boxes.

Most students are hygienic and can clean themselves and the kitchen. If anything it may be your student accommodation that’s crumbling and not up to standard with mould growing in the back bedroom window and the broken boiler that makes the shower run cold. Not all student accommodation you rent is up to the standard of Hilton Hotels. If you are looking for a place to rent then read my student accommodation tips.

Further education and university teach us life skills, how the real world works and how to look after ourselves and others. Being a student and remaining in education many of us are juggling studies and jobs. It’s not an easy life full of first world problems. We are hardworking and trying to plan our futures and opportunities. Whilst studying and meeting assignment deadlines we are earning a living with part time jobs to pay the rent the bills.

Students and our youth are often dismissed, forgotten and their voices unheard. Millennials are marginalised by the system and political views. We want a better future and one of hope. We want a fair society where our nurses, carers, teachers and the vulnerable and homeless are cared for. A society that doesn’t care where you come from, where you were born or the colour of your skin. A society and system based on justice and what you can contribute to your community and the world.

Don’t criticise us for wanting to challenge the system to combat racism, sexism, xenophobia and fighting to preserve nature and the planet. Don’t criticise us for wanting to do things differently and enjoy the freedom and rights that the older generations fought for.

Millennials’ want to be in control of they own lives and understand the impact our actions have on the world. We want to make our own rules and decides, not play by the terms and conditions set by giant corporations and outdated Baby Boomers viewpoints and policies put in place years ago.

The elite and generations before us seem to fear change and are stuck in the past and old ways. They don’t want us to speak out or take over the world that they control. They don’t want to reform laws and the current system because it works for the few and not the many. They want to keep us tied down and treat us like leftovers. They don’t want us to gain knowledge, information and power that could disrupt their agenda and rock their boats.

So many people make sweeping generalises about us. We are not lazy, weak, snowflakes or wasting our lives on a degree. We don’t play the victim, we are the victims of a world and toxic media that seems to want us to fail.

I believe that everyone has a voice, and the digital age can help us reach out and share our opinions and ideas. Thanks to social media and blogging we can speak up and speak out. Millennials are far from perfect, but we are adapting and learning how to manage in an uncertain and cruel world.

We need fresh ideas, new technologies and reform that helps everybody flourish and grow. We want a new normal and get rid of the old and outdated theories and concepts of how society should function in a kinder and more civilised world.

I’m not naive about the challenges or suggesting that all suffering, problems and conflict will end. People will always fight for power, control, money and the TV remote. The message is that mindsets and systems need to change to make improvements to how the global economy benefits everyone, that our physical and mental health are looked after and we address the impact that humans have had on the environment and wildlife.

Despite all the popular misconceptions, Generation Y and Z are the people that are going to change the world. The one’s that are going to have to deal with future issues clean up the mess and deal with the environmental damage of past generations before us. The Millennial future is a better future for society and the planet.

Labour’s ‘Freedom to Buy’ Mortgage Scheme

~ Rob

Labour has unveiled a new initiative aimed at increasing homeownership, dubbed the “Freedom to Buy Scheme.” This program is set to be a lasting fixture, unlike the temporary Mortgage Guarantee scheme introduced in 2021, which is due to expire by mid-next year.

The government’s role in this scheme is to partially back home loans, thus motivating financial institutions to present deals requiring lower deposits.

Under the current arrangement, financial institutions can secure a government-backed guarantee for a portion of the mortgage, providing a safety net for the government to absorb some losses if, for instance, a borrower defaults and the sale of the repossessed property doesn’t cover the mortgage balance.

The scheme is designed to boost lenders’ confidence in offering high loan-to-value mortgages, enabling buyers to secure homes with just a 5% deposit instead of the standard 10%. Labour projects that this permanent scheme could assist over 80,000 young individuals in becoming homeowners within the next five years.

Details on how Labour’s “Freedom to Buy Scheme” will differ from the existing one are yet to be clarified, with the exception of its permanence. The current scheme has specific criteria: the property must be your primary residence in the UK, valued at £600,000 or less, not newly built, and you must opt for a repayment mortgage, not interest-only, meeting the lender’s standard affordability checks.

It remains uncertain whether participation for lenders will be optional or mandatory. It’s crucial to note that the terms of a 95% mortgage under this scheme are identical to those offered independently, with the distinction only affecting the lending institution.

The scheme primarily benefits those who can manage monthly mortgage payments but struggle to save for a substantial deposit while renting. Applicants must pass affordability assessments to ensure they can handle the mortgage payments beyond just affording the initial deposit. Typically, these mortgage deals are pricier, favouring higher-income earners, and become more affordable with larger deposits.

Should the regulations stay unchanged, many first-time buyers in high-cost areas like London, where even modest homes can range from £800,000 to £1 million, may find themselves ineligible for the scheme.

A significant hurdle for prospective homeowners is the steep rise in property prices over the past decade, inflating the required deposit amounts. As of May 2024, Halifax reported the average UK house price at £288,688, meaning a 10% deposit would be £28,800, while a 5% deposit would require at least £14,400.

The Formula for Being a Grownup

~ Rob

I’ve haven’t figured it out yet. That secret formula to been a grown up. It’s probably in a book I haven’t read or maybe I was hungover and off sick the day they gave that lecture. Life is far easier as a kid. You can use your imagination to live your dreams in an afternoon. When you hit your 20’s reality suddenly bites.

I’ve “legally” being a grown up from age 18. In adulthood you expect things to work out, get better. No one can tell you what to do, you can vote, drink alcohol and sign important documents like a tenancy agreement.

Being grownup isn’t that cool or wonderful because you have to make your own decisions and take responsibly for the outcome. That dream job isn’t what you thought, you’re single, lonely with no love interest, dear friends get promotion and move away, your finances are a mess and screwed by debt, the flat is a bombsite, you have to hold down a job and then pretend life is going well on social media to keep up appearances.

You probably feel it wasn’t supposed to be this way. They is even have a name for this. It’s called a Quarter Life Crisis – https://en.wikipedia.org/wiki/Quarter-life_crisis.

When you look at the goals you planned to accomplish at by age 25 it’s likely to be disappointing. You aren’t the CEO of the company, a millionaire playboy, happily married with 2 kids or playing professional football.

You expected being grownup to be something different, the time of your life. Instead it’s all stress and balancing relationships with people and things you love and hate. Life is tougher. It turns out we are expected to multitask and balance everything.

We try our best but it is just not possible……

How can we be so perfect and compete with our hero’s and the myths we see in the media and our old childhood dreams of what we thought our life’s would turn into?

How can you stay positive, look on the bright side when we can’t even hit the piss pot? How can we take back control of our lives, meet our ambitions and stop this feeling of failure, of not meeting our own expectations of adult life?

We put too much pressure on ourselves to have it all figured out and have our lives mapped out and on track by 25. I’ve discovered that’s a load of bollocks. Anxiety and insecurity are part of the deal. You can’t plan the rest of your life in an afternoon like you did when you were aged 8.

You might meet the woman of your dreams at the restaurant…..

Or you might not.

It’s OK if you’re single and don’t have a partner yet. Being single isn’t such a bad thing. You don’t have to find “the one” in your twenties. The wild sex and relationship goals can wait a while.

Be patient. Be grateful you don’t know what’s going to happen or life would be very dull. It’s all unknown and it’s natural to fear the unknown.

If you want to get through your quarter life crisis simply admit you have no idea how to be a grownup right now. Lap it up. You’re still learning. You haven’t figured out your life just yet. Don’t panic neither have I. I’m as clueless, frustrated and lost as you are.

I like the idea of making your own path. What makes it hard for people in their twenties trying to follow their passions is you can’t be true to yourself if you don’t know who that is yet.

There are ways to tell when you’ve become an adult. You have to look after yourself, look after others, try bring some order to the chaos and do your own dusting. There are no tidy answers. Twenty-something adult life is messy, we can all feel lost. Sometimes I feel grown up sometimes I’m a immature spoiled little brat.

This website started out of student boredom and loneliness, as it has grow so have I. You’re not grown-up until you been around the block, experienced a little of life’s challenges. Don’t treat it as a setback because you feel you’re not moving forward.

Obstacles and pain are a part of life, yet you can grow from it. You’ll need to make some changes and choices in your life. You can make 20 Changes in 20’s whatever age you are. And while being young and stupid is always easier, being older and still being stupid will bring the same results no matter what age you are.

Please be patient with yourself and you’ll find out who you are and what you really want.