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Forums - General Discussion - Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

Not really that simple now is it? Looking at 400-600k for a standard 2 bedroom house in an Australian city, plus home loan interest sitting round 3-5%. So assuming it takes you 45 years to pay off the loan, you're looking at paying almost 1.5 million for that house. Far cry from the $7 a day.



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monocle_layton said:
Ganoncrotch said:

If plastic could break down when you pour water on it then it wouldn't be such a huge crisis to try to get rid of the waste produced by making plastic bags/bottles.

I'm a bit lost by what you mean. 

you said you worry that the plastic bottle would break down from use? from holding water, Plastic is not really biodegradable, as in it wouldn't really break down into the water in the drink. Unless you're using the same bottle for around 450 years.

https://www.postconsumers.com/2011/10/31/how-long-does-it-take-a-plastic-bottle-to-biodegrade/



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This is nearly a year old. It was a huge deal here in Australia, and is now a meme.

The original commentator apparenty meant it ironically/sarcastically. It was amusingly picked up by some deadly serious people that were fortunate to purchase houses in Sydney when prices were a tiny fraction of what they are now, and as a result believe themselves to be genius investors, and not just old.



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Ganoncrotch said:
monocle_layton said:

I'm a bit lost by what you mean. 

you said you worry that the plastic bottle would break down from use? from holding water, Plastic is not really biodegradable, as in it wouldn't really break down into the water in the drink. Unless you're using the same bottle for around 450 years.

https://www.postconsumers.com/2011/10/31/how-long-does-it-take-a-plastic-bottle-to-biodegrade/

Ah, I see what you mean.

By breaking down I simply meant from daily wear-and-tear. Eventually that bottle's gonna be beaten up, and in all honesty I'd prefer just having a decent water bottle instead of one made from flimsy plastic



Of course he is exagerating, but theres actually a lot of truth in what he is saying. Its up to each one decides how you spend your money, but if you spend several years spending a lot of money on expensive food, booze, clothes and parties, dont blame capitalism if you have no savings and cant even think about buying a house or whatever you want.

Btw, people mention avocados, but what most impresses me is the price of beer on pubs or restaurants compared to the price of drinking home.



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Vincoletto said:
Of course he is exagerating, but theres actually a lot of truth in what he is saying. Its up to each one decides how you spend your money, but if you spend several years spending a lot of money on expensive food, booze, clothes and parties, dont blame capitalism if you have no savings and cant even think about buying a house or whatever you want.

Btw, people mention avocados, but what most impresses me is the price of beer on pubs or restaurants compared to the price of drinking home.

This is what I was always told growing up and I figure it works from the smallest things all the way up to saving for what will potentially be the biggest purchase of most peoples lives.

https://en.oxforddictionaries.com/definition/look_after_the_pennies_and_the_pounds_will_look_after_themselves

Also while beer in a bar might be 5-6 times the cost of a can from an offlicence , Costa / cafes are still far worse, a jar of the most expensive coffee will set you back around €10 and provide around 50cups of coffee, 50 times buying a 5-7e drink in cost would be €300



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OhNoYouDont said:
Ganoncrotch said:

Some people are happy to not save, I've 2 mates who are perfectly happy to get their wages each week and spend them all before the next pack arrives, I would feel unwell if I didn't have at least the next few months / years rent in the bank. That was how I started off saving, just each month I would put away the following months rent asap, then I started to make a game of it, see if I could get the next months rent again before it would even start.... currently where I'm living I have.... 61 months rent saved up! It's a fun game :D

It's rather nice knowing I could lose my job(s) and just sit on the couch for 5 years wondering what to do next.

I really hope you don't have that in a savings account where it's earning less than 1% interest when you could be earning 10+% in the stock market with that money.

mysteryman said: 

It’s interesting that the results are very similar regardless of age. 

Interesting is the wrong adjective. Terrifyingly irresponsible comes to mind.

What I mean to say is that average saving habits haven’t changed. So what is the driving factor behind a lower percentage millenials in the housing market?



What good is having money when you don't spend it?



Ganoncrotch said:
LipeJJ said:

No, I mean... if you have to save that small amount of money (and plan stuff on this level) to buy a house/apartment, you're already screwed. This is not living... lol.

I see you're 24 so I'm going to guess you are in rental accommodation still? or have you purchased your own home by that age? Just even with my current work if I could spend no money it would take me at least 3 years to be able to pay up front for a home myself (which is how I aim to buy property) during that time every bit extra which is spent means it takes longer to get to the goal.

Just if you don't mind me wondering how your rent / accommodation is paid for atm to think that you don't consider a saving of a few hundred euros per week to be "not living"

Don't worry, I don't mind answering.

Me and my boyfriend will buy our first apartment this year (around June/July, and we'll be sure to take at least 2 maids so we don't have to lose time doing useless stuff). I started college 2 years ago for fun (psychology), because I'm a very curious person and learning is something I truly love. Don't know if I'll work eventually or not, but it's still an invaluable experience.

Btw, I find amusing americans PoV regarding school/work/money. It ditches freedom completely if you are expected to do certain things at certain points. I'd be a sad person if I had to save a few hundred dollars/euros per week. To me, this is not living (if you have to rationalize everything and don't have the opportunity to experience stuff without putting much thought into them).

Last edited by LipeJJ - on 24 January 2018

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