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deylon
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12-07-2018, 09:33 PM
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Debt

Is it my imagination ,or are there more people in debt these days ? If so why is this ?Do people live more now beyond their means ,or is it really harder to cope now?
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fender
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12-07-2018, 09:38 PM
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Re: Debt

Originally Posted by deylon ->
Is it my imagination ,or are there more people in debt these days ? If so why is this ?Do people live more now beyond their means ,or is it really harder to cope now?
It's people wanting everything now, and maybe a bit of keeping up with the Joneses?

A friend just got a new BMW on 4 year contract hire -£320 per month??, but moan they are skint at the end of each month??
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12-07-2018, 09:43 PM
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Re: Debt

Originally Posted by deylon ->
Is it my imagination ,or are there more people in debt these days ? If so why is this ?Do people live more now beyond their means ,or is it really harder to cope now?
some people definitely live above their means. I know some people are very materialistic. It's silly to get into a lot of debt just to impress other people.

I guess some people get into debt though as they can't manage on what they have so resort to high interest loans, payday loans etc which in my opinion should be stopped.
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12-07-2018, 09:51 PM
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Re: Debt

People used to save for things they wanted or go without if they couldn't.

Now in the 'Must Haves' and 'I want it now society' it's too easy to get loans for whatever they want - little realising the rates of interests they're stuck with.

They don't seem to consider the other way.... forget it if you can't afford it.
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12-07-2018, 09:57 PM
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Re: Debt

Originally Posted by Pesta ->
People used to save for things they wanted or go without if they couldn't.

Now in the 'Must Haves' and 'I want it now society' it's too easy to get loans for whatever they want - little realising the rates of interests they're stuck with.

They don't seem to consider the other way.... forget it if you can't afford it.
They definitely should to save a lot of future worry.
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12-07-2018, 10:04 PM
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Re: Debt

Things are hopeless for some.
They may never have a chance to own their own home they may not find a partner they have a soulless lowly paid job.
Maybe they think I will have some pleasure in this life if its only a car.
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13-07-2018, 03:35 AM
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Re: Debt

It's a generation thing I think. My parents were always very careful with money but myself, I'm terrible.
I am still paying off a loan from accumulated consolidation years ago. Not too long now though, couple of years and it will be sorted out.
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13-07-2018, 04:29 AM
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Re: Debt

Yes, and the most concerning thing of all is that we are a consumer-driven societies. The more people buy, the better of the economy is - for the time being.

In the meantime the credit bubble inflates....inflates....inflates...
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13-07-2018, 04:45 AM
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Re: Debt

Originally Posted by Surfermom ->
Yes, and the most concerning thing of all is that we are a consumer-driven societies. The more people buy, the better of the economy is - for the time being.

In the meantime the credit bubble inflates....inflates....inflates...
That's how it happened to me. A single bloke overreaching his finances. Borrowing more and more. It escalates and before you know it you end up with loans to pay other loans, second mortgages and so on. It's so difficult to claw your way back.
It gets paid back ever so gradually, but it's a life's lesson learned to lose that millstone around one's neck.
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13-07-2018, 08:37 AM
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Re: Debt

Yes I believe we are in a materialistic world, with people wanting the top end iPhone, or a high performance car, or that 50” tv, designer clothes...all because someone else has them so they must do better.

I have had large debts before, once reaching £1,000 on my credit card. (Going back years now.). I was ashamed of myself, paid it off, and vowed never to get in that state again.

Yes, I DID get a work loan to top up savings for my brand new car, in 2003, but when I got the redundancy money 9 months later, paid it all off.

Fortunately I have no desire for the ‘branded’ clothes, or an expensive iPhone (once was enough). (Even though I have a pedigree Westie. Not the same thing...is it?!)
 
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