Debt v Life

MET_3

Hi Liz, Yes I agree in hindsight getting into debt was not one of my better ideas. But I was young and stupid. But you can't change things from the past and there is no pint getting overly stressed about them. Yes I do put myself and family first - but thats only normal. I will pay my debts back but just at a slightly slower rate. m

Imelda

This thread has been very interesting, sometimes I read posts where people are cutting right back to the bone and I feel ashamed that I am moaning about not being able to afford a pair of shoes I really want (note want, not need, I have the shoe collection of a centipede).
I think MET has some good points in that there is no point over stretching yourself as you will inevitably fail, it took me a few months of budgetting to realise that. I am now at a point where I am happy with my balance of debt repayment, saving and spending, but am well aware that to others I may still seem like I am spending too much.
Financial matters are very personal and I think that's why some discussions on here get quite "heated".

Kevicho

Imelda wrote:

This thread has been very interesting, sometimes I read posts where people are cutting right back to the bone and I feel ashamed that I am moaning about not being able to afford a pair of shoes I really want (note want, not need, I have the shoe collection of a centipede).
I think MET has some good points in that there is no point over stretching yourself as you will inevitably fail, it took me a few months of budgetting to realise that. I am now at a point where I am happy with my balance of debt repayment, saving and spending, but am well aware that to others I may still seem like I am spending too much.
Financial matters are very personal and I think that's why some discussions on here get quite "heated".

Your absolutely right, becomming debt free is a process, and like everything you need to excercise your brain and willpower to become stronger, especially when it comes to self control.

The irony is self control is a good thing because we are bombared with advertising to get us to part with money for rubbish.

Me personally now i hate wasteing money, i have a future to build and a beachhouse to buy, that to me is more important than having the latest fashions or by living other peoples meanings of "a life"

LizEstelle

Kevicho wrote:

Also reading books together from a library, again free

Spot on. The fault in your logic lies in the assumption that people who habitually get into chronic debt can actually READ!

zag2me

Spending >! does not equal happiness

The commericals on tv might drill it into us everyday, but it really isnt the case.

LizEstelle

MET wrote:

Hi Liz, Yes I agree in hindsight getting into debt was not one of my better ideas. But I was young and stupid. But you can't change things from the past and there is no pint getting overly stressed about them. Yes I do put myself and family first - but thats only normal. I will pay my debts back but just at a slightly slower rate. m

... all of which is NOW a very responsible attitude, even if it IS raising the borrowing rates which I and the responsible majority pay.

As a former teacher, I can attest to the fact that young people are becoming 'grown up' much later than used to be the case. Their irresponsibilty - stupidity, as you call it - goes on for much longer.

I think there is a strong case here for laws to be passed banning the issuing of credit to persons under 30.

What do you think?

bobble_hat

LizEstelle wrote:

I think there is a strong case here for laws to be passed banning the issuing of credit to persons under 30.

What do you think?

I think that's an excellent idea. I was definitely young and stupid when I had my first credit card, it never felt like real money.

MET_3

yes, I agree. All my debt was built up before I was 30! Stupidity and world at my feet! But thats the past and now I have to deal with it. m

nearlyrich

This is a really interesting debate, my own feeling is that you don't have to spend money to be happy, and it has been for a long time but some people are more suceptible to the advertising than others. It's tempting to spend more than you have if it's as easy as handing over a piece of plastic to buy your dreams. I was in the Trafford Centre last night watching a couple falling out about how much they were spending on Christmas (already). If people really thought about the long term effects of overspending I am sure they wouldn't do it, sadly that only becomes apparant once you are in the cycle.

This board is for supporting people who are tackling their problem debts and I am always inspired by the triumphs and spirit on the board day in day out.

Zulu_Dawn

I would add that I am a far better person now I have "grown up" taken responsibility and started to live in a different way. I never realised or appreciated the value of money as it came so easily, credit was so available and society seemed to indicate that happiness was something you bought rather than earned.

Unfortunately I didn't "grow up" until I was 44. Therefore can I propose no credit cards or loans until you are 45!

ZD