Daggers Posted 27 September 2006 Posted 27 September 2006 They said on TV last night that some people are carrying over £50,000 worth of debt on loans and credit cards. That must be hell!
lookwhaticando Posted 27 September 2006 Posted 27 September 2006 It's their own damn doing. I have a relatively hefty balance on my Visa at the minute - I'd carried a balance before, but not like this. It's well and truly under control though, I'm delighted to say.
cisono Posted 27 September 2006 Posted 27 September 2006 I find the general spending attitude to be quite scary over here (not that everyone is like that, but you get my drift...)
Monk Posted 27 September 2006 Posted 27 September 2006 I take it only one other graduate has done the poll so far then?? Can I exclude my student loan. I have a £1000 mastercard balance and am paying £500 on friday so nearly there!! Paid for a trip to Japan!
DanTheFoxBhoy Posted 28 September 2006 Posted 28 September 2006 I'm very anal about debt. I have the pay the card before the interest kicks in
hairy Posted 28 September 2006 Posted 28 September 2006 I'm very anal about debt. I have the pay the card before the interest kicks in Thats the way. If you pay them off when they are due then a credit card is just like an extension of your overdraft. Another top tip is not to give your Missus a credit card
andyh1884 Posted 28 September 2006 Posted 28 September 2006 Just over £6k - Loan for a new car is my biggest balance. I don't think having credit card balances is too bad - provided they're on 0%, you do actually pay a reasonable amount off during the period and you move them to another one when the interest free period runs out. Otherwise it's daylight robbery with them
Head Honcho Posted 28 September 2006 Posted 28 September 2006 I'm very anal about debt. I have the pay the card before the interest kicks in I'm the very same. I've never had any debt and I'm determined to keep it that way. Trouble is the wife wants a bigger house and the only way I can see myself doing that without taking out a mortgage is to self build! Unless anyone out there is feeling philanthropic <_<
Dr The Singh Posted 28 September 2006 Posted 28 September 2006 I'm the very same. I've never had any debt and I'm determined to keep it that way. Trouble is the wife wants a bigger house and the only way I can see myself doing that without taking out a mortgage is to self build! Unless anyone out there is feeling philanthropic <_< I have a similar problem, we need a bigger home (according to the wife), I have cut my mortgage to 15 years, but a move will mean more debt It took my 5 years to pay off my student debts but I didn't have to pay tuition fees, I feel sorry for those that do, unless university is a neccesity for your chosen career, I would not go!!
DanTheFoxBhoy Posted 28 September 2006 Posted 28 September 2006 What is it with wives and bigger houses / nice furnishings... I'd live in a shed FFS
Shum Posted 28 September 2006 Posted 28 September 2006 Just my student OD's really, but all under control.
Lester LXXIV Posted 28 September 2006 Posted 28 September 2006 I have a problem. Unfortunately it has nothing to do with debt...<scratch,scratch>
Jon the Hat Posted 28 September 2006 Posted 28 September 2006 They said on TV last night that some people are carrying over £50,000 worth of debt on loans and credit cards. That must be hell! Yeah, depends on your income though.. Some people seem to be carrying 2 or 3 times their salary which is scary as hell. It shouldn't be possible to borrow that much unsecured. If you look at your debt as a % of your income that would be a decent way of guaging it. Not sure what is reasonable though.
Guest Posted 28 September 2006 Posted 28 September 2006 We live in a society where people have to have everything. It's shocking. When I was younger, if you couldn't afford something, you either saved up or went without. Nowadays if you don't have it, you're a laughing stock. It's a form of bullying if you ask me. I see that people are blaming the banks and building societies. Fair enough, they are agressively marketing their loans and credit cards, but at the end of the day, you don't have to take them up on the offer. Have some willpower people. This is by no means a dig at anyone who is in debt because of circumstances beyond there control. It's the people like the chavvy 19 yr old who borrowed over £20k to "pimp his ride" (a snazzy little Corsa... ), and whose mother was on the TV last year blaming everyone but her son for the mess he was in.
Daggers Posted 28 September 2006 Author Posted 28 September 2006 We live in a society where people have to have everything. It's shocking. When I was younger, if you couldn't afford something, you either saved up or went without. Nowadays if you don't have it, you're a laughing stock. It's a form of bullying if you ask me. I see that people are blaming the banks and building societies. Fair enough, they are agressively marketing their loans and credit cards, but at the end of the day, you don't have to take them up on the offer. Have some willpower people. This is by no means a dig at anyone who is in debt because of circumstances beyond there control. It's the people like the chavvy 19 yr old who borrowed over £20k to "pimp his ride" (a snazzy little Corsa... ), and whose mother was on the TV last year blaming everyone but her son for the mess he was in. Absolutely
Jon the Hat Posted 28 September 2006 Posted 28 September 2006 We live in a society where people have to have everything. It's shocking. When I was younger, if you couldn't afford something, you either saved up or went without. Nowadays if you don't have it, you're a laughing stock. It's a form of bullying if you ask me. I see that people are blaming the banks and building societies. Fair enough, they are agressively marketing their loans and credit cards, but at the end of the day, you don't have to take them up on the offer. Have some willpower people. This is by no means a dig at anyone who is in debt because of circumstances beyond there control. It's the people like the chavvy 19 yr old who borrowed over £20k to "pimp his ride" (a snazzy little Corsa... ), and whose mother was on the TV last year blaming everyone but her son for the mess he was in. Agreed, however the banks shouldn't then be suprised when said Chavvy little 19yr old doesn;t pay them back. It's bad practise on their part, and it should be restricted more. The problem is that it impacts the desperate people who can't afford to feed their kids, as well as those who are just spending all their cash on booze and fags.
Guest Posted 28 September 2006 Posted 28 September 2006 Agreed, however the banks shouldn't then be suprised when said Chavvy little 19yr old doesn;t pay them back. It's bad practise on their part, and it should be restricted more. The problem is that it impacts the desperate people who can't afford to feed their kids, as well as those who are just spending all their cash on booze and fags. Exactly, we have higher interest charges to cover this. The EU, where borrowing is less common, interest rates are lower.
Dr The Singh Posted 28 September 2006 Posted 28 September 2006 Exactly, we have higher interest charges to cover this. The EU, where borrowing is less common, interest rates are lower. I must agree, having roots abroad, to get a credit or loan is very lengthy process, and amounts given are very modest compared to those in UK!!!! It's the ease, which get's me, I phone call, or one online phone and bang I can get 20k, or umteenth store cards, there is no sense of responsibility from the providers or the youth of today!!!
Manwell Pablo Posted 28 September 2006 Posted 28 September 2006 about ten grand. Most of it is student debt though. Well actually it all is in one way or another.
cisono Posted 28 September 2006 Posted 28 September 2006 Exactly, we have higher interest charges to cover this. The EU, where borrowing is less common, interest rates are lower. It is less common but it is spreading. I have noticed lots of companies pushing credit in Italy during my last visit there. I am worried that this problem may be spreading to other EU countries....
Guest Posted 29 September 2006 Posted 29 September 2006 They are selling a lifestyle with their loans. It's not right.
Dr The Singh Posted 29 September 2006 Posted 29 September 2006 They are selling a lifestyle with their loans. It's not right. Isn't that what life's all about!!! PLaystations, Ipods, flat screen tv, getting sloshed at nice bars, prada shoes......all must haves, without, your not worthy to be a human being!!! It's all about perception, we gotta have it cus without it's not sociably acceptable!!!! It's worng, but life is geared by advertising and clever marketing, to a a extreme whereby it has changed socail standards and acceptability!!!
Guest Posted 29 September 2006 Posted 29 September 2006 Isn't that what life's all about!!! PLaystations, Ipods, flat screen tv, getting sloshed at nice bars, prada shoes......all must haves, without, your not worthy to be a human being!!! It's all about perception, we gotta have it cus without it's not sociably acceptable!!!! It's worng, but life is geared by advertising and clever marketing, to a a extreme whereby it has changed socail standards and acceptability!!! The only way to beat it is to turn around and say "I don't need it". Is an IPod really the be all and end all? Can you survive without that Gucci bag? If your peers are really that bothered they need impressing, you're better off without, but people don't think like that. I know people who would sacrifice food and heating over designer clobber. How sad is that?
Dr The Singh Posted 29 September 2006 Posted 29 September 2006 The only way to beat it is to turn around and say "I don't need it". Is an IPod really the be all and end all? Can you survive without that Gucci bag? If your peers are really that bothered they need impressing, you're better off without, but people don't think like that. I know people who would sacrifice food and heating over designer clobber. How sad is that? Agreed, we should never extend our means, plus we should always plan for worst and the future, which is another problem the young have an issue with!!!
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