Will some people ever learn?

SunderlandBlackCat

Just been talking to my old boss from my last job. Just before I left he told me about his debt problems so i helped him with the usual stuff (SOA, Budget, Shuffling debts to the cheapest options he could get, Snowballing)

Everything seemed to be going well but he's just proudly told me he's consolidated his old debts (average APR of 11.5%) to a bank loan with an APR of 21% :eek: & taken out store credit at 20% over 4 years for a new widescreen lcd tv. :eek:

rog2

You can lead a horse to water, SBC, need I say more.:rolleyes: :rolleyes:

Skint_Catt

Maybe he just doesn't get it!

Broken_hearted

maybe he found it too hard to live the way we do, aiming to be debt free doesn't even cross some peoples minds.

beanielou

So many people just see debt as the norm.

CAFCGirl

you're abnormal if you're not in debt.............

aren't you?
lol

Thats how it comes across sometimes to me!

fallenwiccan

thats how i feel as a student trying to stay in the black so that i leave with no overdraft etc

people think im weird when i say i make sure my credit card is paid in full each month and only used for purchases with extra protection in mind.

but yup people make me despair when they get high store credit theres no need!

ZTD

People don't want to know because it make them feel bad in some way, whereas the financial institutions sell their products in a way to make people feel good.

So what would you rather do - pay 13% on something that makes you feel bad? Or 20% or something that makes you feel good?

I've this "making decisions based on feelings" described as "the inner child".

When things go badly wrong, then people grow up very quickly indeed and "the inner child" is no more.

pippo

He probably thinks that the new repayments per month are less so that he is better off, albeit momentarily!!

I also want to say that he must be a daft Macham, but the board guidelines may not allow that!!

No direspect, but I am a Geordie lass!!

JillD_2

ugh I know, we have friends who have never remortgaged and have stayed on ther same non discounted extrtionate rate for years. We pointed out they could be saving around £300 a month if they switched and they said they might get around to it but probably not.

And they are always crying poverty, I have no sympathy. We offered to do the donkey work and take half the £300 saving if they aren't that bothered about saving it all :rotfl: Drives me mad though

ZTD

pippo wrote: »

I also want to say that he must be a daft Macham, but the board guidelines may not allow that!!

No direspect, but I am a Geordie lass!!

Alas, I may be a daft Mackem...