Britons face 'lifetime of debts'

Rob_K

I guess a large part of the blame must go to the constant credit ads on TV- and no doubt if they were banned the government would be accused of nanny-state tactics.

Although from the education point of view I think financial lessons cannot directly be compared to the "just so no to drugs" style of education because rather than being prohibitive, they would actually be enabling kids and giving real tools that they can use for the rest of their life. A hell of a lot more useful than trigonometry in my view, but then this is coming from someone who failed his maths A-level (what was I thinking when I signed up for that one??)

Lawbag_2

I think some of the big traps/reasons for increased spending are:

Minimum payment reduced from 5% to 3% or less
Reduction in standards of minimum requirements to have a credit card