Is The Country Living On Credit?

PasturesNew

Also, I am often gobsmacked when people I know get very expensive gifts from their parents. Like cars + insurance etc etc.

Maybe they have parents who are debt/mortgage free and sufficiently wedged up to be wanting to buy them nice things.

LookingAhead

If they are on the same wage as you - and assuming they don't have a stash of cash from somewhere then I would have to say they're all chucking it on credit cards or have remortgaged to pay off debt.

Like a lot of the country.

So - to answer your original question, I would have to say, for the most part, yes.

savvykaz

Why not just ask them how they manage to do these things " on the paltry wages we get?"

painted_lady

Are the ones that own house older and maybe bought years ago before the prices went silly?
My brother appears to be well off - detatched house, 3 kids, another on way, both have cars, go on load of short breaks (often abroad).
Not many people know they rent the house,are up to eyeballs in debt, robbing peter to pay paul each month and so on.
Things arent always what they seem.

save-a-lot

Remember the guy is only one half of the partnership in these households that you are comparing yourself with. There is the potential of inheritance, generous parents, work they do on the side etc, money they have built up over the years, plus lots of other ways they could be funding their lifestyle. But on the flip side, there is the chance they are up to their eyeballs in debt.

Never ever assume, and stick with the way you are... in the long game you will be the winner

Redbedhead

Maybe the have other sources of income of in guy 3's case, maybe his wife is the higher earner?

Also if they have had their house for a few years they may be paying a low mortgage payment.

I wouldn't worry what others are doing. At the end of the day if they are living on credit it is their choice and provided you are happy with the choices you make - that is what really matters.

GettingThingsDone

just ask politely

gtd

elantan

i think it can be too easy to compare yourself with others and think your doing something wrong as long as you know what you are doing is whats right for you you should just let them get on with it and wish them all the best ...otherwise you might land up feeling bitter and that wont help the situation your in

System

elantan wrote: »

i think it can be too easy to compare yourself with others and think your doing something wrong as long as you know what you are doing is whats right for you you should just let them get on with it and wish them all the best ...otherwise you might land up feeling bitter and that wont help the situation your in

Thats some very good advise there, I can relate totally to this situation also, but I think at the end of the day there is always going to be someone who has more than you so just be content with what you have in the knowledge that there is always someone worse of than you are.

skint_spice

Like the others have said there could be allsorts of reasons that they can afford this or maybe it is all coming from credit cards and loans.
Recently I've said to a few people at work that I'm not doing x or y as I'm trying to save money and pay off my debts and it's amazing how many have said "oh I should really do that" then they go off on holiday or buy another new car and laugh at my older (paid for) car.