How do we fund our toys

alfatwo

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5,517
I'm luckily enough to buy most things with my own cash.. but you guys still seem to live in a erifairly fairly world full of credit, be care full out there, we all know what happened in 2007!

Dave
 

Wattie

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8,640
The only ones i would take a punt on now are Ripple or Dash.

Not Ethereum??...... I tripled on that...in fact I bought my new Merc from it!

Got xrp but its done nothing.

Just had a punt on LTC but I won't be hooked into BTC at $15K...it's insane.

cheers Wattie
 

JonW

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3,259
Interesting thread.. I’m tempted by a punt on Bitcoin, but haven’t decided how much I’m willing to gamble/invest...

All my toys are funded from disposable income, but I share the slight doubt as to whether it would be better to finance a £150k purchase on the never never...

For me, the reality is that I don’t want a £150k car enough to be willing to take on the debt....
 

FIFTY

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3,100
I looked at Bitcoin 3 times this year and the lowest was at £3500 should have got on the bandwagon then

How do I fund my toy, lots of hard work from both my fiance and me... but I am at a cross roads, entirely bored of my career 5 years in the same company with no more promotions left to gain until someone eventually retires... in a market that is possibly shrinking over the next few years if the construction sector goes into decline. Careers advice for Fernando anyone? Go into the crypto trading and loose it all? lol
 

rockits

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9,167
GDPR & Cyber Security consultancy. We are adding this resource & focucsing on this over the next 5 years.
 

iainw

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3,386
I looked at Bitcoin 3 times this year and the lowest was at £3500 should have got on the bandwagon then

How do I fund my toy, lots of hard work from both my fiance and me... but I am at a cross roads, entirely bored of my career 5 years in the same company with no more promotions left to gain until someone eventually retires... in a market that is possibly shrinking over the next few years if the construction sector goes into decline. Careers advice for Fernando anyone? Go into the crypto trading and loose it all? lol

Plumbing.
Still loads of work out there for good people.
My plumbers are unbelievably bad, and they still make good money.
If I acted anything like they did I would be out of a job in seconds.
One of them is pondering which maserati to buy next- I hope he doesn’t service it himself!
 

bigbob

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8,952
How you finance a car is a secondary decision once you have worked out what depreciation you are prepared to take. Anything under three years old will drop a lot and up to five years old might also. Then you need to factor in where you buy it and how long you will own it as many supercar dealers work on £20-30k gross margins so that's dropped straight away in you buy retail and sell trade. Above all, though, buy someone you want and will enjoy driving rather than trying to buy something the next guy will like.
 

GeoffCapes

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14,000
I looked at Bitcoin 3 times this year and the lowest was at £3500 should have got on the bandwagon then

How do I fund my toy, lots of hard work from both my fiance and me... but I am at a cross roads, entirely bored of my career 5 years in the same company with no more promotions left to gain until someone eventually retires... in a market that is possibly shrinking over the next few years if the construction sector goes into decline. Careers advice for Fernando anyone? Go into the crypto trading and loose it all? lol

I had a major career change at 38, so know how hard it is to to get into something different.

I still have a few plans for further changes.

Basically you need to find a business that will always be in demand regardless of boom or bust recessions.

The two I have plans to move into (no pun intended) are property and rubbish (recycling to be exact).
 

BJL

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1,364
Bitcoin. All hype and no substance as Phil says. The wild ride some are enjoying is fantastic for them and good luck to them but just like the Ponsie scams and pyramid selling days there is no base value only market value. Very noticeable that any major retailer of high end merchandise that accept Bitcoin unloads them in a contemporaneous deal with a broker rather than hold.

Having said that I wish I'd got in very early but now is like putting your house on Red.
 

Wattie

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8,640
Bitcoin. All hype and no substance as Phil says. The wild ride some are enjoying is fantastic for them and good luck to them but just like the Ponsie scams and pyramid selling days there is no base value only market value. Very noticeable that any major retailer of high end merchandise that accept Bitcoin unloads them in a contemporaneous deal with a broker rather than hold.

Having said that I wish I'd got in very early but now is like putting your house on Red.
Not strictly true, it's a sign that many don't trust banks/bankers/the banking system and want to migrate their wealth to something decentralised....in prep for the next crisis which will be worse.
It therefore has a value determined by those who wish to participate......
Cheers Wattie
 

bigbob

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8,952
Not strictly true, it’s a sign that many don’t trust banks/bankers/the banking system and want to migrate their wealth to something decentralised....in prep for the next crisis which will be worse.
It therefore has a value determined by those who wish to participate......
Cheers Wattie

What a bizarre statement. It's fluff. In any future crisis it will collapse far faster and greater than traditional deposits.
 

rockits

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9,167
Low margin, really and a saturated market IMHO.

It's also a *load* of ballache when it comes to the paperwork :)

C
I'd agree...too easy for many to do so competitive, competition & saturation are an issue driving costs down.

You need to do something that is harder that less people are either but able to do or too lazy to do.
 

Wattie

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8,640
What a bizarre statement. It's fluff. In any future crisis it will collapse far faster and greater than traditional deposits.
Yours is a bizarre statement.....define collapse? Given that you’re barely earning 1% in the bank and bitcoin is up several thousand a lot of people would have to suffer a mammoth collapse to be worse off.
Some people thought the internet was “fluff” and now we can’t live without it.
Cheers Wattie