Why is personal DEBT so high in this country?

SingleSue

Too true....

He does know how to load the washing machine, still has to ask me what setting to put it on (or ask his younger brothers!) and how to operate the tumble dryer...he just can't be bothered until I tell him his pocket money is at risk!

He is only 15 at the moment, so it is years away and is all dependent on how he does in his GCSE's and A Levels but it is certainly his (and his brother's) intention to go to university.

He is pretty good when it comes to budgeting and is becoming as much of a bargain hunter as I am!

GrammarGirl

SingleSue wrote: »

I personally feel university should not be about the social side experience but about learning...but then I was always a boring begger.

Although the above is my personal feeling, I have pointed out to my son that he would miss out on the whole uni social life if he stays local but he feels that it is more important to start life with a smaller amount of debt and maybe miss out on the fun side than have loads of debt and the fun, to him it is a small price to pay.

Plus I think he wants me to do his washing! The whole idea of doing that stuff for himself makes him shudder

I thought the same about uni until I actually went... I had my own friends and boyfriend at home, I only wanted to go to uni to get my degree so I could do the job I've always wanted to do... but 6 months down the line the pull of proper uni life was too strong, I couldn't bear going home to my mum every night!

I think staying at home is probably the sensible option for students at the moment, as graduating in 3 years with loads of debt and no job is not a great prospect for anyone. As you say, your son has loads of time to decide, maybe he'll change his mind and decide doing his own washing isn't so bad after all!

geoffky

ITS because the sheeple cant tell the difference between debit and credit.... and have been greedy selfish pigs....

geoffky

Conrad wrote: »

The rise of British materialism has been accompanied by the decline in intelectualism.

Our neighbour laughed out loud when my wife mentioned we watch nature documentaries. Ugly Betty all the way.....

says more about your neighbor.. watch crap eats crap and have a crap life.....soaps are banned in our house and the other dancing brain dead programmes.

scousethife

wxmlad wrote: »

well the gov have been banging on for years how great the economy was, but it was only so great because people were spending on credit like there was no tomorrow.

Unfortunately soon, we might very well see - no tomorrow.

Dithering_Dad

geoffky wrote: »

says more about your neighbor.. watch crap eats crap and have a crap life.....soaps are banned in our house and the other dancing brain dead programmes.

lol, you're such a bag of fun geoff. I can imagine your wife and kids being desperate for you to go to the legion with your mates so that they can unwind and watch a bit a telly, free from the media dictats of their liege lord, geoffky.

barnaby-bear

Dithering_Dad wrote: »

lol, you're such a bag of fun geoff. I can imagine your wife and kids being desperate for you to go to the legion with your mates so that they can unwind and watch a bit a telly, free from the media dictats of their liege lord, geoffky.

It's quite funny how the inteLLECTually superior mock their neighbours etc. but can't spell or punctuate.

Conrad

barnaby-bear wrote: »

It's quite funny how the inteLLECTually superior mock their neighbours etc. but can't spell or punctuate.

Would it be equally funny if a person with a hearing impediment couldn't speak as well as your good self?

Spelling and gramaaaaaa sucks

Pobby

I have to say that a couple of things changed my thinking. Firstly our pensions were not going to give us enough for a comfortable retirement. I read a book, "Empire of Debt", that pretty much explained what was going on. Being an MSE regular, not just this forum, helped to shape my thinking.

So the very good run, business wise, of the last few years helped me to shore up retirement income. Don`t get me wrong, we have had a few, cheap holidays abroad but my old habits when times are good, like spend it all are long gone.

I stood back aghast when I saw what others were doing. I have seen people on far, far more money than I have earned still racking up debt. No savings and in one case that`s a couple with an annual six figure income. I guess the good times were going to roll for ever!

fabulous_girl

People have just gotten greedy. They worship celebrities and aspire to be like them. Victoria Beckham was seen out with an 80,000 pound handbag (i read in OK magazine, which i vow to never read again, such celeb-worshipping twoddle).... but people see her doing it, and want it too. People would rather borrow or steal than wait til they have earnt the money to buy new products.

My boyfriend is on a good salary but keeps harping on about buying a blu ray player,despite the fact he has 1500 debt himself. I have over 2k overdraft and i am trying my damnedest to pay it off asap, through the challenges on this forum and just generally trying to be frugal. I will not buy anything i dont need until i have some plus money!