fatscoobyfella

Never had any debt,dont want any debt...

if ya cant save up for it,you cant have it..

A friend of mine is nearly 50k in debt on cards and what have you,and he has **** all to show for it,he lives in a rented house and drives a 15yr old car.Just blows cash like water!!

You cant blame banks etc etc for dishin out the cash,its down to the individual.If you daft enough to get in debt,dont blame anyone else.

scoob_babe

Of your £14k debt? I don't think so. I've never had debts of any kind even through uni and could have easily afforded more than a CTR at 19 actually and haven't lived at home since I was 18 either!!!!!!!!!! If you can't have it straight away, save up and you'll appreciate it a whole lot more

Petem95

Mate of mine was something like £35k in debt after spending it like there was no tomorrow, and he was declared bankrupt, had the debt written off, and now seems to be heading the same way again - able to get loans etc, despite having been bankrupt

MikeCardiff

iTrader: (2)

I know the problem is basically peoples irresponsible attitude to borrowing - as in 19 year olds that NEED a £14K car ( and god knows what the insurance is on it ! ) - whats wrong with a £2K car at that age ? - in fact, look what £2K will buy you for a runaround like a few years old Fiesta, Escort or 106, and theres loads of perfectly good 'normal' cars out there for that money.

At 19 I was earning just enough to pay my rent and bills, and couldnt afford a car at all, and I managed. ( Not having a pop at the lad posting on here, but most 19 year olds are impressed by their mate just HAVING a car - doesnt have to be something flash ).

But - there is also a big fault with the lenders in that they give people money too easily in the first place - I definitely think it needs tightening up - it seems to be set up so they lend far too much, the borrower then gets in trouble and the 'loan shark' branch of the lenders comes along offering to consolidate all their debts so they can take the next 50 years paying them off at some ridiculous interest rate.

And I really cant understand this new bankruptcy thing where you can run up a huge debt, basically right it off, and start again from scratch ??? If you are declared bankrupt for not paying off debts, you shouldnt be loaned ANY money again until you can PROVE you can afford it, and even then the amounts should be small until the borrower builds up a track record of responsibly borrowing.

2000TLondon

Drunken Bungle Whore

Couldn't have said it better MikeCardiff! People's expectations are way too high these days - no-one ever seems satisfied with 'making do' any more.

I knew someone whose parents gave them money and always bailed them out - and they had absolutely no idea about how to manage money and consequently ran up colossal debts. Their parents weren't wealthy - they'd just been spoiled. When the parents couldn't bail them out any more the debts just grew, and grew, and grew....

I think financial management should be taught in schools - who needs bloody Pythagarus in later life? Teach kids proper maths that will actually be of use!

My sister had a fabulous idea - she gave her son generous pocket money from the age of 11 - BUT he had to buy most of his clothes and all of his nice stuff - CDs, PC Games, Sweets, Cinema tickets, etc. The first couple of months he got his fingers burned - but ever since he has been really savvy and managed his money brilliantly - he's 18 next birthday and they never have any problems with him.

pslewis

And you want the Labour Government to become a nanny state and stop people doing what they want with their money?? DO YOU??

I seem to remember you complaining of the nanny state - and here you are slagging off Labour for NOT being a nanny!!

You are a Premiership Idiot and no mistake!!

I bet if you stub your toe on a CockLink you left lying on the floor - THAT would be Tony Blairs fault too??

Petem95 - you ARE the weakest link ............ goodbye!

Pete

Suresh

After having a dry spell with his posh ****** troll, I'd say Lewis is back on form!

pslewis

I am confused over this mention of a 'posh troll'???

Pete

Echo

Same here, mortgage and Skoda hopefully paid off in 2 years, but the missis wants a bigger house now

Petem95

I wondered how long it would take for PSL, and his Labour-loving side-kick Suresh to turn-up and troll the thread

Labour have encouraged cronic borrowing to prop up the economy, and now all the debt lemmings have realised that they actually have to repay the money theyve borrowed, and simply cant. Oh well, simple solution - make it easier to go bankrupt and help the low-end of society - which I suppose are Labours core voters after all

Suresh

Good evening to you too!
How's the Bob the Builder dvd then? Would love to read your review as I'm thinking of getting the new one for my little boy.

TIA

Ben v7

My understanding of bankrupty was that it's hanging over your head for 7 years not just 1 year.

Even after it's wiped off after the 7 years in certain situations you still have to declare if you have ever been bankrupt.

I am sure declaring yourself bankrupt has serious reprecusions for the rest of your lift - if it doesn't then something is very wrong and it should do because it shows complete financial incompetence and an abuse of trust that the lenders placed in you... but then again if they are prepared to throw money at people who shouldn't have it ***** nilly...

Is it 7 years?

ScoobyDoo555

There is absolutely NOTHING wrong with being in debt........

as long as you can afford the repayments and manage your debt.

Hence why most people have a mortgage

It's a lovely ideal being able to afford everything debt-free. A luxury MOST people don't have. I applaud those who can do this - fair play to ya.

I'm on a very good income, but still have debt. I certainly don't see it as a problem.

Getting back to the post in question though, I have no real comment ( so despondant about politics, I didn't vote). However, my retirement plan means that I will be able sell up and live abroad. Not because of the anti-government/UK slant, but because given the choice of growing old in this climate or the sunny of the Med, it's a no-brainer!

Dan

Leslie

SD555,

Would you prefer to have no government to run the administration of this country? Or the same bunch who have shown themselves to be grossly incompetent!

No point is saying that you didn't vote because of your apathetic approach. Whatever you feel about politicians, and you are probably right in most respects as far as they are concerned, if you don't vote then the wrong party will get in and you are faced with 5 more years of seriously dysfunctional government. If you let that happen they will do just what they like and all to their own advantage. Politicians must realise that if they don't produce then they will get voted out!

It is a duty to vote in my opinion.

Les

ScoobyDoo555

I understand exactly what you're saying, but in my view, the current choice of parties add up to this type of scenerio:-

I'm in a sandwich shop that sells ****-filled sandwiches. The "filling" originates from amny different producers, but in essence, they all offer the content, just with a different, distasteful flavour.

So, my choice is this - do I choose to purchase one of these sandwiches, or go without?

Granted, my analogy maybe flawed in someways, and is totally tongue-in-cheek.

However, the fact remains that regardless of who I vote for, the exact same outcome is achieved: - voting public are betrayed through some form of corruption/dishonesty/sleaze or at great personal cost (in terms of tax)

What a fabulous choice

I'm in my 30's and am a professional by trade. I can wholly appreciate with the younger potential voter is SO disaffected by politics.

Personally, I try to only pursue matters that are a worthwhile and fruitful cause. Politics & politicians falls WAY short.

All in my humble opinion, of course

Dan

pslewis

This is a strange comment coming from a blinkered Tory supporter - you remember the Tories?? They did away with credit limits and mortgage mutiple limits and borrowing restrictions ..............

The debts of today were built up and encouraged under the Tories!!!

BUT, that said, my point remains valid ....... NO-ONE has to borrow if they don't want to!!

Pete

Darbo_wrx

Im hoping for a big fat recession
house prices are stupid silly expensive at the mo
i just cant understand where ppl pay £100k for a poxy startoff home
should be £40k max
bought my detached bungalo for £60k not 10 years ago
6 years ago it was worth £65k
2 years ago £100k
now £200k ????? whaaaat that dont make any sence

exsecially wen the stupid biatch i live with wants to phook off and take half

saxperience

ok then, I still get £50 pocket money every week for tidying my room......

boo

Fuzz

As long as there are 0% interest credit card deals going round I shall milk them for all they are worth.
All my wages go toward paying off debt but when I want something... I buy it and sod the cost.
Can't take it with you

Andy

dsmith

Doubtless Saxperience will be moaning about the price of property in a few years time....having pissed away his golden oppurtunity to save for a deposit whilst living with his parents.

pslewis

Just as a point of interest - who on here saves more than 50% of their take-home pay?

Sometimes savings just happen because there is nothing else to buy ..... sometimes people just spend all they get.

When I was younger, 50% of my take-home pay went on mortgages ....

Pete

ScoobyDoo555

50% of my income goes on my kids and childcare

both wifey and I work too

Dan

Fuzz

Hmmm
No mortgage
No kids
No missus

100% gets spent on ME

kingofturds

iTrader: (1)

I remember being 20 taking home 290 a week and only having to pay £20 a week rent,the rest went on me me me and **** cars that broke down every 5 minutes

2000TLondon

The only "saving" I ever did was if I had a good month on the horses and didn't need to spend my wages, then I could probably save a months wages for about two weeks until my luck changed!

Part of me wishes I had saved more, but more of me is glad that I have done the things I have. And in any case, whatever you have is not enough. Sadly it seems lot's of young people will find out about money management the hard, and expensive, way!

Mortgages aren't savings schemes, either Pete, no matter how rosy the outlook!

Leslie

SD555,

Your analogy with the sandwiches is a valid one alright but when it comes to who runs the country, voting or not is a different kind of choice completely. Whether you have a sandwich or not affects only you and the profits of the shop. The people who run the country is a very much more important business, and as we know how much of a mess this sorry lot we have now brought the country to, and the dreadful things they are planning for the future, then it might be worthwhile considering whether one of the other parties might just be an improvement and could even save this country as well before it is too late.

That is why I consider it vital that people use their democratic right to vote before they lose it!

Les

pslewis

Hmmmmm, not too sure about that ........ I don't know how much I have paid in mortgage payments over the past decades, but, lets assume an average £400/month figure over 20 years? Seems reasonable?

That £400 a month over 20 years = £96,000 ..... lets say that 20 years ago I bought a house costing £30,000 with a £3000 deposit and moved twice more in 20 years ...... average monthly payment on the mortgages of £400 and re-investing any increase in Capital.

That £3000 Deposit and £27,000 mortgage has now grown into a £350,000 house with no mortgage .... thats quite an attractive savings vehicle!!

Considering the only other alternative would have been to rent - I would say a mortgage IS a form of forced saving (over the mid-long term).

Pete

2000TLondon

Not being pedantic, but a mortgage is paying for you to have somewhere to live. If you are lucky enough to make money on your home, wonderful.

If you are saving money, this would imply putting money into a safe, no risk policy that is fairly accessible.

And how do you intend to realise the 350,000 assest that is your home? In order to have 350,000 pounds in liquid assest, you'd have to live in your car.

A home is a great asset to leave in your will, but it's not savings.

cookstar

iTrader: (6)

Good thread this.

I have made a change recently in how i handle my finances, I earn (IMO) good money, up untill recently I blew everything on naff all.

Was not uncommon to have blown £2/3k in a week or so after payday, leaving me with just enough to get by for the next 2 weeks or so.

Living at home with just a car and a **** to keep.

The nasty feeling of (**** is this it) sunk in recently and hav started saving like mad and paying lots of debts off.

Trouble is, when you get into a situation where you owe lots and lots of money, the light at the end of the tunnel seems so far away, you tend to think **** it.

Its not untill you start digging yourself out, you realise its not as far away as you once thought.

So hopefully this time next year, car will be fully paid off and nice deposit for a property, and only a few debt left.