13-07-2018, 08:43 AM
12
Re: Debt
Originally Posted by Floydy
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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.
The more debt you get into, the more you are charged getting you into more debt.
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It's true that people used to save up for things in the old days but can you imagine saving up for a car these days. By the time you got the money, the price would have doubled.
I have always found that those that bang on about not getting into debt are those that don't have to.
13-07-2018, 06:26 PM
15
Re: Debt
It's too easy to get into debt I think. Back in the late 80s early 90s I was getting application forms for Credit Cards dropping through my letter box all the time. They went in the bin as my OH was very strict with money BUT imagine the mess I could have gotten into if I'd applied for them all AND got them..
13-07-2018, 06:27 PM
16
Re: Debt
Originally Posted by Artangel
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Some people these days dont practice, ‘cut your coat according to your cloth’.
13-07-2018, 06:36 PM
18
Re: Debt
When I married very young and along came my two babies very quickly , I didn't know what it was to have nice things , rented flat was awful and the TV was on HP . Food was very basic and home made and my children had very little , but never was there any debt . Eventually got a mortgage on as cheap a house as we could find , there was no carpets or furniture in fact carpets came second hand and sofa came from the tip free . I could go on but I'm sure some of you lived the same .I don't wish for young newly weds to struggle like I did but when 7 yrs on I could dump the tip sofa and buy a cheap one and some cheap but clean new carpet I was overjoyed . Eventually 8 yrs later I actually got a brand new automatic washing machine , I'd used an old tub with a wringer for all that time ( with a broken heater )
Now it's about buying all on credit , must have the best , and labels . Big smart TVs , Eating out and a car each . I know people who owe thousands yet little to show for it . But it's a different world and what do I know !
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