How to work your money effectively

Experticus

I work for a bank and it amazes me how stupid people can be.

Im on a mission: Dont give the bank your money (in charges and fees). Thats your money, so why give it to the bank?

Pay back debt asap

Have your direct debits come out straight after pay day

Overdrafts are great for short term borrowing ie spreading car repairs or spreading Christmas spending. Its not supposed to be fully utilized up to its maximum every single month.
Have your overdraft as high as possible and only use it if you need to and if you use it have a plan on paying it back.

Dont borrow money unless you know for a fact you can pay it back.

Going over your overdraft limit? Then dont use your debit card as these transactions can cause accounts to go overdrawn. Always use cash! Cash cant cause an account to go over its limit.

Know when your payments come off and how much they are and budget for them.

Using internet banking to see your accounts is very handy!

Register to text messages for account alerts. Its usually free!

Simples

HeadInTheSand

I dont really see any valued input in your, almost arrogant post.

if it was 'simples' then this forum would not exist as no one would be in debt.

Its VERY easy for someone who is control of their finances to critisize and be 'amazed at how stupid people can be' for not controlling their finances.

Most people know all the points you have mentioned, but they cannot stick to them or enforce them, due to other difficulties in their personal lives. Everyone would love to pay their debts back in full straight away. most people would to be able to pay Direct debits on payday. Most people get into debt BELIEVING they can pay it back, but ultimately, end up over committing. (so easily done)

Again, it may seem easy/simple to people who can control their finances, but for most of the people here, who want help with debt, your post isnt very helpful. Infact, I believe it may make people feel worse about their situation, as it gives them the impression they are 'lesser' people.....

your post was most likely done with good intentions, but you could have worded it a little better.

unimaginative_user_name

Headinthesand is right. This part of the forum is for people who need help to get out of debt not advice on how they should have avoided it in the first place. It specifically says on the front page that this is a place for support, not judgement and someone only has to read through some of the diaries to see how helpful the mutual support ethos of this board is in helping people pay off their debt.

It's not that what you are saying is wrong. I just don't think it's in the right place in the forum.

orcocan

its the same with being in shape, everyone knows that if you're overweight you need to eat a bit less but in practise that's not always easy... it takes some self control...

dogkennel

Experticus wrote: »

I work for a bank and it amazes me how stupid people can be.

Im on a mission: Dont give the bank your money (in charges and fees). Thats your money, so why give it to the bank?

If everyone managed their money as perfectly as you wish they did the banking division (I presume you work in 'high street banking') you work for.. would have much less profit to pay you. no?

Goldblend_2

HeadInTheSand wrote: »

Most people know all the points you have mentioned, but they cannot stick to them or enforce them, due to other difficulties in their personal lives. Everyone would love to pay their debts back in full straight away. most people would to be able to pay Direct debits on payday. Most people get into debt BELIEVING they can pay it back, but ultimately, end up over committing. (so easily done)

Again, it may seem easy/simple to people who can control their finances, but for most of the people here, who want help with debt, your post isnt very helpful. Infact, I believe it may make people feel worse about their situation, as it gives them the impression they are 'lesser' people.....

your post was most likely done with good intentions, but you could have worded it a little better.

Agree with you...Now that I have stopped fuming I know OP mean't well..but I'm pretty strong and it made me feel a bit low and sorry to say the post is a litle foolish and could be worrying to newbies..:eek: this forum is all about support.... rubbing salt in the wound does not assist.:(

People get ill.. help out family who struggle and are Carers for loved ones so debts are unavoidable to some ..i'm not talking about the young or niave or the fritterers. Personally I know people who have debts though nursing family members through Cancer so that put's your priorities in order..as you know you can not buy or put a price on good health.

Depression is also a key illness that is linked to spending.

Worded a little better it does contain useful advice. Thread's should contain advice that is motivating and inspiring to those who have been "stupid" or not in the right circumstances to be able to tackle their debts with a bonus or big pay packet and motivate them to take a little debt at a time to make headway;)

Maybe if no one was in debt there would not be a job for you at the Bank..:D

You can be really rich and horrid or seriously poor and kind so what really matters is not what you've got but who you are and how you treat others in life.;)

No offence OP and welcome to the forum with your experience you could be a real asset to the forum .:kisses3:. but please understand you can't plan life and some of us are luckier in life than others.........as they say from the ashes rises the pheonix

:T :T :T :T :T :T :T :T :T :T :T :T :T :T :T :T

flukeas

Experticus wrote: »

I work for a bank and it amazes me how stupid people can be.

Im on a mission: Dont give the bank your money (in charges and fees). Thats your money, so why give it to the bank?

Pay back debt asap

Have your direct debits come out straight after pay day

Overdrafts are great for short term borrowing ie spreading car repairs or spreading Christmas spending. Its not supposed to bie fully utilized up to its maximum every single month.
Have your overdraft as high as possible and only use it if you need to and if you use it have a plan on paying it back.

Dont borrow money unless you know for a fact you can pay it back.

Going over your overdraft limit? Then dont use your debit card as these transactions can cause accounts to go overdrawn. Always use cash! Cash cant cause an account to go over its limit.

Know when your payments come off and how much they are and budget for them.

Using internet banking to see your accounts is very handy!

Register to text messages for account alerts. Its usually free!

Simples

I did all of that.... What I didn't factor in was my husband's brain cancer debts can arise not just from frivolous spending but from emergencys family's issues and circumstances changing its all very well for you to come in and say do ABC and you will never be in debt when you haven't walked a mile in our
hoes

velocity.girl_2

:rotfl::rotfl::rotfl:Don't feed the troll :rotfl::rotfl:;)