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pauline3
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19-01-2019, 03:20 PM
11

Re: Living beyond ones means.

Originally Posted by Realist ->
It's a basic lesson of life. Live within your means.

Those who live beyond their means and get into serious debt should never be bailed out, even if they are family. By all means help them with a monthly payment plan interest free but never just wipe their debts because the lesson HAS to be learned.

Youngsters are expending large amounts of mobile phones and associated games and apps they use on them. Many females are constantly buying new clothes and spending ridiculous amounts on regular hair do's and finger nail treatments. There is a large beauty studio in my city close to where my wife works and it has a constant churn of, what I can only describe as uber vane slappers all wanting the fake Essex look. They all have the same hair dos and the stick on eyelashes and stupid nails. They trot out like they were on a conveyor belt. Then they all drive off in their Range Rover Evoques which I guess in many cases Daddy bought for them.
Add to that the ciggies that many of them smoke to be part of the "in" crowd and all the money they spend on drinking out and it's easy to see why some of these people are essentially just living "on tick" (i.e. everything is on HP, loans, credit etc).

A large proportion of the youngsters have been addicted to gambling via the online casinos on Smart Phones. They are too dumb to realise it is all rigged and so lose pots of money. Then go chasing it with more money to try and win it back which of course is disastrous.

The problem is, we don't teach kids in school how money works, how to plan for their futures, how to invest and save, how to make money grow. They are conditioned to live for the moment and spend whatever they want. Soon enough they realise they have nothing and no way to get out of the "living with parents" trap.

Living within our means is a vital part of life in this modern world.

Good post,Realist,so so true!.
pauline3
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19-01-2019, 03:23 PM
12

Re: Living beyond ones means.

Realist,I echo what you say about never bailing them out of their debt!!.
Julie1962
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19-01-2019, 03:43 PM
13

Re: Living beyond ones means.

Yes harsh as it is that never ends well, I watched my parents being bailed out time and again they never learned I think that's why it was so important to us to pay back every penny we ever borrowed.
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19-01-2019, 06:32 PM
14

Re: Living beyond ones means.

I have never been in debt .( other than the bed)
My parents were practioners of the aegis - never a borrower or a lender be and it stuck .
Although when I was first married we bought a bed on the Hp
( never told my parents and paid it off in a year)

They my parents lived frugal lives and always lived well within their means .
They also lived pretty miserable lives with few pleasures .
I wish they had spent more on themselves but they couldn't - the habits of a life time too ingrained until illness made it too late even to try.
Some people can't handle money .
I have always thought it should be taught in school .
My brother bailed his son out numerous times because of credit card debt until he could do no more .
The son who works hard now has a huge debt which he will be paying back forever .
The immorality of pay day loans etc advertised on TV .disgusts me
It encourages people to live beyond their means .
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19-01-2019, 07:38 PM
15

Re: Living beyond ones means.

I treated myself to a holiday of a lifetime last year , when i agreed to go with my friend i told her its a one off , it wont happen again , im using my savings . It was wonderful .

Within one week of arriving home she was asking me to book another i kept refusing. Yet in that week she booked two more expensive holidays . She is always telling me she wont have enough money left to cope as she is only 55.

Ive stopped listening to her now , its up to her to sort herself out yet she lives above her income yet she ignores any advice .

Ive known a few who have done the same , one friend £17000 in debt who rented a house and didnt have anything to show for it not even a new car .

Its not the life for me
pauline3
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19-01-2019, 07:51 PM
16

Re: Living beyond ones means.

Originally Posted by Muddy ->
I have never been in debt .( other than the bed)
My parents were practioners of the aegis - never a borrower or a lender be and it stuck .
Although when I was first married we bought a bed on the Hp
( never told my parents and paid it off in a year)

They my parents lived frugal lives and always lived well within their means .
They also lived pretty miserable lives with few pleasures .
I wish they had spent more on themselves but they couldn't - the habits of a life time too ingrained until illness made it too late even to try.



My parents were the same,


Some people can't handle money .
I have always thought it should be taught in school .



Strongly agree!.



My brother bailed his son out numerous times because of credit card debt until he could do no more .
The son who works hard now has a huge debt which he will be paying back forever .
The immorality of pay day loans etc advertised on TV .disgusts me
It encourages people to live beyond their means .




As you say,I agree,those pay day loans are a disgrace!.they prey on desperate people!
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19-01-2019, 07:57 PM
17

Re: Living beyond ones means.

Originally Posted by Julie1962 ->
I think it depends very much on their circumstances pauline. I know people who's rents take up a good 90% of their wages I am not sure what debts they incur but I can't imagine they keep within their means as it were.

Others see things they want and imagine that means they need it so buy it. They I have less sympathy for but it often starts in childhood I think where they don't learn they can't have everything they want, it's a hard lesson for some to know that isn't real life for many people.

Some keep up with their friends, we have a small problem with that ourselves where we have to say no to a lot of trips etc that our daughters friends can afford but we can't. The iphones etc just not happening here but all her friends have latest models. Hard lesson to learn but I am confident learning it now it will come easier later on. I hope so anyway.


Costs of housing and utilities have outstripped many people's abilities to earn sadly.

I was reading somewhere other day over 60s are beginning to be most indebted generation ever, as their earning capacity dims but their needs and wants grow.
It's true. Most of the over 60s were brought up with parents who didn't buy what they couldn't afford and did without rather than get into debt.

We of our generation mostly followed that good advice, but it's the cost of living that is getting more and more pensioners into debt, not frivolous spending. The saying Heat or eat comes to mind.
pauline3
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19-01-2019, 07:57 PM
18

Re: Living beyond ones means.

I know what it feels like to be in debt,you are forever stressed,because you have to meet the loan repayments,not only that you have all the bills to pay,it worked out OK for me in the end,I own my little house plus I still work and I save as much as I can for my retirement.
 
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