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Payday loan advice
Comments
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If you can afford to pay it back you should be saving, which costs less long term.Not when you can afford to pay it back!
Yes.Did you buy your first house with cash, then?
Using resources available to you sensibly is the good thing.
No. The borrowing culture in this country is disgusting, no wonder we're in such a mess.
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If you can afford to pay it back you should be saving, which costs less long term.
I am saving - for a deposit.
Why would I want to throw money down the drain by renting and saving up to buy a house outright when I can borrow a mortgage and start throwing money at paying off the house straight away?
I don't think your strategy makes sense for most people. Maybe for the top earners who could save up to buy outright in a few short years, but not me!What will your verse be?
R.I.P Robin Williams.0 -
Good for you. Not that i mentioned 'your' finances. I said the culture was disgusting. And it is. Too many people wanting stuff they can't afford, and far far too many people telling them that that's a fine way to live your life.My finances, sensible borrowing included, are doing just fine, thank you.
A mortgage is the only acceptable form of credit because it's almost impossible to buy otherwise, and renting is setting fire to £££'s.
The ONLY other acceptable form of credit is where it's taken out for a purpose which is not to buy stuff, eg stoozing.
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The ONLY other acceptable form of credit is where it's taken out for a purpose which is not to buy stuff, eg stoozing.
Mr. A is unemployed. Mr. A goes to an interview and gets offered a job 20 miles from home. Mr. A either needs to commute by train every day, or he can get a car.
Either way he'd need to borrow money from somewhere to fund the first month's travel.
I don't know if you're aware but people on JSA are now required to apply for jobs a fairly long way from home.
I agree with your sentiment that saving is better and should be encouraged, and that there are problems with this country and the reckless lending/borrowing culture, but the way I see it is as follows.
If you have an immediate need for something and don't have the necessary funds (to fix your roof, to buy a car for a new job, etc.) - then go ahead and borrow, but think about how you're going to pay it back beforehand.
If there's something you want (an Xbox, a new car to replace your perfectly working current one, a holiday) - then save for it.What will your verse be?
R.I.P Robin Williams.0 -
Good for you. Not that i mentioned 'your' finances. I said the culture was disgusting. And it is. Too many people wanting stuff they can't afford, and far far too many people telling them that that's a fine way to live your life.
Borrowing and wanting things you can't afford are not necessarily related. Plenty of people other than me borrow responsibly too. I mentioned my finances because you were choosing to tar everyone with the same brush.0 -
There's a difference between what people need and what people want.Mr. A is unemployed. Mr. A goes to an interview and gets offered a job 20 miles from home. Mr. A either needs to commute by train every day, or he can get a car.
Either way he'd need to borrow money from somewhere to fund the first month's travel.
I don't know if you're aware but people on JSA are now required to apply for jobs a fairly long way from home.
I agree with your sentiment that saving is better and should be encouraged, and that there are problems with this country and the reckless lending/borrowing culture, but the way I see it is as follows.
If you have an immediate need for something and don't have the necessary funds (to fix your roof, to buy a car for a new job, etc.) - then go ahead and borrow, but think about how you're going to pay it back beforehand.
If there's something you want (an Xbox, a new car to replace your perfectly working current one, a holiday) - then save for it.
I've seen people on here advocating borrowing for a car that costs £10k when you can get a perfectly good car for less than £2k.
The DWP pay costs of travel. And you're not required to go to interviews a certain distance away, you're not allowed to LIMIT your search in terms of distance, there's a difference.
Either way your analogy is off point. That situation is only fine if the borrowing isn't going to affect the take home pay to a point where you're starting from behind every month. So for instance, buying a £300 car on finance/with credit when your take home pay is going to be £1300 for example is fine, if your living costs allow you to pay it off comfortably.
Going and getting a loan to buy a brand new car on that money is not fine at all.
And either way, that wasn't my point, that's similar to the mortgage scenario where it makes sense. I'm talking about borrowing what you don't have for crap you don't need.
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Do you borrow money, buy things and then pay interest on it?Borrowing and wanting things you can't afford are not necessarily related. Plenty of people other than me borrow responsibly too. I mentioned my finances because you were choosing to tar everyone with the same brush.
If you can afford monthly repayments at normal interest rates then you can afford to save up for stuff.
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