Is this really the sort of nation you want the UK to be?
10 December 2014, 08:37 PM
#62
I believe that the debt I took on over the years has allowed me to progress a lot quicker in improving my and my family's quality of life, otherwise I'd quite possibly still be living at home with my parents.
Last edited by jonc; 10 December 2014 at 08:40 PM.
10 December 2014, 11:22 PM
#63
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I think the media arent helping the case of those who need to use foodbanks, every programme about benefits shows a rough couple with a number of kids, no job, a tiny council house, a massive dog, chain smoking and drinking strong lager at all hours of the day. I really don't think most are like that.
11 December 2014, 03:41 PM
#64
There have been times when my payments servicing my debts have been larger than income, it's all about managing it. What you don't seem to get is that not all debt bad, its about leveraging that debt that will bring more benefits that will give you gains in improving quality of life as well as allowing you to invest to bring greater returns. Sure you can live debt free all your life, but it would be long and arduous and progress would be slow. How long would it take you to save for your first house without a mortgage, how long will you have to save and wait before paying for education/professional course/exams? There are huge number of businesses that have run at a loss, but because the debt was used to invested for progression and expansion, it works out better for the business in the long run. Of course there is bad debt or good debt turning bad, but if you don't take risks, there would be no progression. If you can balance and manage it, I don't see a problem with debt.
I believe that the debt I took on over the years has allowed me to progress a lot quicker in improving my and my family's quality of life, otherwise I'd quite possibly still be living at home with my parents.
I believe that the debt I took on over the years has allowed me to progress a lot quicker in improving my and my family's quality of life, otherwise I'd quite possibly still be living at home with my parents.
what I cannot get my head round is how you make payments which are more than your income, yet remain solvent?
Doesn't make sense. Unless you were fairly certain your income would rise steadily? Or something?
11 December 2014, 04:45 PM
#65
You just have to be good with your budgeting and frequently review your finances. It's not something I would contemplate doing without careful and thorough planning as you're juggling a combination of defering some payments, which is effectively increasing borrowing, timing of investments for when they become liquid, receiving other payments on time that are owed to you and making cuts and calculating for future reductions in expenditure and increase in income and having enough capital to tie you over that period.
11 December 2014, 09:35 PM
#67
11 December 2014, 09:58 PM
#68
Scooby Regular
There are about 15 in the whole country, yet as you say, they all seem to make it on to TV
The truth is mundane and makes sh11t TV
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