Debt levels soar

michaels

I'm sure I saw this same VI research being touted as 'family incomes in unexpected increase?

homelessskilledworker wrote: »

http://www.independent.co.uk/news/uk/millions-face-financial-woe-as-debt-levels-soar-7803749.html







Not including mortgages, average debt levels have soared 58 per cent over the past 12 months to £9,314. A year ago the average family owed just £5,878.

RenovationMan

wotsthat wrote: »

What's wrong with these people?

Surely the best response to an increased cost of living is to set up an account on MSE and start moaning about it.
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I wish I could thank this twice. Absolutely stop on.

RenovationMan

Sampong wrote: »

Yeah I know, I really wish they would stop doing it so I could go and bury my head in the Sand

Is MSE really the only source you have for economic news?

I mean, really?

antrobus

homelessskilledworker wrote: »

http://www.independent.co.uk/news/uk/millions-face-financial-woe-as-debt-levels-soar-7803749.html

Not including mortgages, average debt levels have soared 58 per cent over the past 12 months to £9,314. A year ago the average family owed just £5,878.

On the other hand, this report here

UK families £7,900 in debt
http://www.telegraph.co.uk/finance/personalfinance/consumertips/household-bills/9063317/UK-families-7900-in-debt.html

seems to say something quite different.

UK families are typically £7,900 in debt from personal loans, overdrafts and credit cards, despite three years of paying them down, a report has found .... Each household paid off an average of around £355 of their unsecured debt in 2011...

Apparently no indication of any dramatic increase in personal debt levels.

moneyinmypocket

Outside of my manageable morgage I have no debt, there are lots of things I'd like but if I haven't the money in the bank I don't have them

DervProf

moneyinmypocket wrote: »

Outside of my manageable morgage I have no debt, there are lots of things I'd like but if I haven't the money in the bank I don't have them

A rule that I have lived my life by.

And the thing is, as I have got older, the things that I used to think I'd would always like are no longer that appealing. When you are "young" you tend to want (or "need") everything. Some will get tempted into borrowing to meet those desires. Later in life, the cost of meeting those desires can often have negative implications. I think that debt is the curse of the young, which can haunt you when you are older.

suburbanwifey

I have no mortgage and all my credit cards are empty. I wouldn't like to owe money in today's climate. I feel for those that do.

RenovationMan

moneyinmypocket wrote: »

Outside of my manageable morgage I have no debt, there are lots of things I'd like but if I haven't the money in the bank I don't have them

And when you die...

Graham_Devon

RenovationMan wrote: »

And when you die...

Living life to the full doesn't mean wracking up debt to spend on frivolties. (sp).

Though, quite obviously, if that's what you relate to living life to the full, then quite clearly it does to some.

RenovationMan

Graham_Devon wrote: »

Living life to the full doesn't mean wracking up debt to spend on frivolties. (sp).

Though, quite obviously, if that's what you relate to living life to the full, then quite clearly it does to some.

You are just putting your own twist on this. I never said anything about wracking up debt on frivolities, nor indeed did I say anything about anything. I merely posted a cartoon and left others to interpret the meaning it holds for them. We now know what it means to you, and this serves a good example of why you need to escape your prejudices and your negative mindset graham.