Do you ever wonder about the psychology......

peaceandfreedom

sourcrates wrote: »

I know exactly how I got into debt, and that was because I am stupid with money, always have been, always will be.

I understand that I should save for things, and invest for the future, the theory is not a problem to me, it's the practice.

I would have said exactly the same a couple of years ago - most of my debt problems are down to financial stupidity - even as I was spending on my credit cards, I KNEW I shouldn't be doing it.

I could add some mitigating circumstances such as irregular income, several redundancies for OH, being unable to say no to my kids etc. But they are really only excuses - when we did have lots of income, I just spent it all and to hell with the consequences.

I come from a big family and we all have very different approaches to finances. So I don't think upbringing had any impact in my case. While getting into debt may have all kinds of causes, I think my own reasons were just not thinking about what I was doing. This applies to lots of other areas of my life, I have been a habitual non-thinker.

However, I HAVE changed (and I'm older than Sourcrates) - it is entirely possible to wake up to the rampant consumerism and say NOOOOOOOO, I'M NOT DOING THIS ANY MORE. I now enjoy the challenge of spending as little as possible and I will repay every penny of my debt.

lazer-zxr

randomer wrote: »

An over inflated sense of entitlement?

What is over inflated entitlement?

Since my LBM, I have gotten rid of my personal mobile phone, though not yet my home internet.

Yet I see SOAs being posted with people really struggling on knife's edge and the OP with home internet, a mobile phone .. just because these are commonplace, does not mean they are not luxuries.

Are these modern common place items over inflated entitlement? Am I still over inflating my entitlement with home internet?

ReadingTim

lazer-zxr wrote: »

What is over inflated entitlement?

I guess it could be summed up by the advertising strapline "because I'm worth it".

For example, 'I work hard, why shouldn't I have the latest car, shiniest gadget, most designer of clothes?' - "I'm worth it", regardless of whether I can afford it or not, and in fact, I deserve it, even though (or perhaps because of) I can't afford it.

iolanthe07

sourcrates wrote: »

Its nice that you have such a large nest egg saved up, myself, I've never been able to do that, but really, what good is it doing you ?


I`m of the school of thought, that life is short, and if I had that kind of cash, I would spend a little of it, no need to go mad, but otherwise, its just going to end up as inheritance, just my thoughts !!

You're absolutely right, of course.