Was talking to beloved the other day about money.
Mrs BM: Isn't renting a waste of money? MB: Renting what? Mrs BM: Renting property. It's just money down the drain, isn't it? BM: Er, no. At the moment the cost of renting *property* is about 5%. The cost of renting *money* to buy property is also about 5%. So they're the same. Mrs BM: Eh, what? But it's just money down the drain. BM: What if you rent somewhere valued at 100,000, live in it for a year for
5,000, and a year later it's worth 90,000. Who's poured most down the drain? You or the bloke who paid 5,000 on a mortgage on it? Mrs BM: But it's just money down the drain.
Some people, really.
Another one is overdrafts.
Mrs BM: I'm going to go overdrawn this month. BM: What's your overdraft rate? Mrs BM: 17.9%. BM. Christ. And what's your credit card interest rate? Mrs BM: 8%. BM: So borrow on your credit card. It's cheaper. Mrs BM: But everyone knows borrowing on cards is expensive.
There's a lot of this about, isn't there?