This forum is not hardcore enough!

seriousDFW

andymc29 wrote: »

Wouldn't you prefer to have no debt, and get to keep all your income????

I thought you said you were out of here?

For some people they can afford the debt repayments to get things sooner than they could otherwise afford. Same ideology as a mortgage. Just because you'd prefer to save up for it, doesn't mean it's not a valid and reasonable choice if you can afford to use credit to get something sooner. For some things, you get more value out of the product because you have it longer, which can outweigh saving up and waiting for it.

andymc29

I just think it feels better to use something you own fully rather than owe money on something you could have saved for.

A house is the exception as you can't realistically expect someone to save the whole amount for a house, but you certainly can for a car, or a TV or what ever else they "want".

I'm leaving once I find a more serious forum that's not afraid to judge people, for some people that's exactly what they need.

andymc29

I'm leaving once I find a more serious forum that's not afraid to judge people, for some people that's exactly what they need

And before anyone says anything, try reading my debt free diary, I've been plenty hard on myself on my own, I've been a total idiot with money and made some massive mistakes, maybe if I'd had someone calling me an idiot at the time I may have seen sense a bit sooner.

seriousDFW

andymc29 wrote: »

And before anyone says anything, try reading my debt free diary, I've been plenty hard on myself on my own, I've been a total idiot with money and made some massive mistakes, maybe if I'd had someone calling me an idiot at the time I may have seen sense a bit sooner.

That's fine, but not everyone is the same, and not everybody needs the same treatment to deal with their problems!

And just because something feels better for you, doesn't mean it's bad that other people don't feel the same.

CTA_2

andymc29 wrote: »

Wouldn't you prefer to have no debt, and get to keep all your income????

You know what interest is don't you? It is a payment for use of money.

I would rather have my brand new car than the use of part of the money!

andymc29

You know what interest is don't you? It is a payment for use of money.

I would rather have my brand new car than the use of part of the money!

That made no sense

Interest is the money you have to pay extra to get something sooner rather than saving for it.

enjoy your brand new car, it's losing 30% of it's value every year!

Jamie_Carter

andymc29 wrote: »

I just think it feels better to use something you own fully rather than owe money on something you could have saved for.

A house is the exception as you can't realistically expect someone to save the whole amount for a house, but you certainly can for a car, or a TV or what ever else they "want".

I'm leaving once I find a more serious forum that's not afraid to judge people, for some people that's exactly what they need.

Nobody has said that you are wrong. In an ideal world we wouldn't need credit. But unfortunately we don't live in an ideal world.

A mortgage isn't really an exception, it's just a more extreme debt.

seriousDFW

andymc29 wrote: »

That made no sense

Interest is the money you have to pay extra to get something sooner rather than saving for it.

enjoy your brand new car, it's losing 30% of it's value every year!

To some people (not me, but I'm not arrogant enough to think everyone is the same), the financial losses suffered from getting a car using credit and losing lots of value quickly is WORTH it to them because they value having a new car for comfort/reliability/status/whatever. This is the choice they are able to make and if they can afford it, you cannot criticise them.

bargainbetty

andymc29 wrote: »

I'm leaving once I find a more serious forum that's not afraid to judge people, for some people that's exactly what they need.

One of the basic tenets of the MSE boards is 'help and not judgement'. The Loans board is a lot harsher than DFW and, as I noted, people do get told to think about their actions.

There are some times that the silly posts grate on me too, like the mad woman who wanted a £100 PDL for her son's first birthday. Believe me, she got short-shrift for that, and went off with a flea in her ear and the advice to buy cheap balloons and a chocolate cake for a fiver.

However, you don't have the right to pry into people's private business. If you ask, and they don't mind talking, all well and good, but it could be exceptionally personal or embarassing and not something that they wish to talk about yet. If you feel that you can't advise someone who won't openly acknowledge the reason for the debt, then maybe it is up to you to find another thread...?

The point of open forums is for the exchange of ideas, information and belief. If you do find a forum where everyone feels the same way as you, you might find it gets a bit dull after a while.

CTA_2

andymc29 wrote: »

That made no sense

Interest is the money you have to pay extra to get something sooner rather than saving for it.

enjoy your brand new car, it's losing 30% of it's value every year!

Then you are declaring that an honorable man cannot make sense i am afraid!

"Perhaps the best known quotation on what interest is comes from Rowlatt J in Bennett v Ogston (15TC374). He described interest as ‘payment by time for the use of money’." (from HMRC website).

I do enjoy my brand new car actually. Free from having to worry about costly MOT's, maintenance plans and breakdowns! That is worth its weight in gold I am afraid!