Is The Country Living On Credit?

Toto

I wonder about some of my friends too. But only because I'm concerned. A few seem to be spending an awful lot and I know their incomes and family situations. All I can do though is casually mention debt issues and how to deal with them, and be there for them if things go @rse upwards. I think that's all anyone can do.

affordmylife

I so understand your situation. We are the same. We live on a lovely new estate and work really hard to manage to do so. But our neighbours are a different story. All run two new cars have gadgets holidays etc that we dont have or can afford.

You know what they are all Londoners sold up and moved to the seaside. Bought houses outright - have no big mortgage payments like us to meet each month and therefore have all their cash available to enjoy. Most of them work part time too.

We have to just accept it and get on with it but it is frustrating really.

The_Economist

But our neighbours are a different story. All run two new cars have gadgets holidays etc that we dont have or can afford.

It is hard somtimes. But is the grass always greener on the other side. As hard as as it is sometimes i think we would all do better if we thought about our needs rather than our wants. Yes i know easier said than done!

helliecopter_2

Where we live everyone has brand new cars, foreign holidays and are 'king for a day' when payday comes round. I don't see how they can be funding as they have a similar income to us.:huh:

I have two small children and can say proudly that 80% of their wardrobes are from carboots. I admit I'm a bit snobby and will only buy certain labels, but have never paid more than £2 an item. Amongst our friends there's a massive stigma about 2nd hand clothes, but my girls are always immaculate. Only my closest friends know our 'shameful':rotfl:secret. One of them said she 'would feel like she wasn't giving her daughter the best start in life if she didn't have the lastest clothes' - she currently owes £1200 on her debenhams card just for her little one. What has happened to our society?

Generally I find nowadays, we (inc me) are all too materialistic and perhaps we should look back to the 30's and 40's for inspiration and make do and mend.

painted_lady

Well, my baby has just got a high chair for £4, a bag of clothes (3 cardigans, a coat, trousers and dungarees, all good makes) from the car boot for £2.
Saved mea fortune, saved me a fortune in interest on the credit card. No one will know, I am not bothered if they did.
If parents are like that, only buying good makes new, no wonder children demand expensive items when they are older. I hope my boy will have some idea at the value of money.

bathgatebuyer

I have often had the exactly the same thoughts! I'm 31, earn above average salary per year and bought my property at a time when it was worth about half what I would have to pay now for the same place (again, probably just about average UK price).

In the 10 years since I left Uni, I've not left UK shores, not even so much as a cheap package holiday in Tenerife or a weekend break. All my peers from either work or Uni seem to constantly be going on holiday or abroad for other people's stag and hen nights, and I have often wondered how they manage it. I suppose part of it is that I'm on my own and don't have any second wage coming into the household to help me. I bought my first flat on a 100% (plus fees) mortgage as I didn't accept or want any contribution to that from my Mum, while I know so many people in my profession who appear to have had their first flat bought for them by their parents.

Although I have to go without a lot of what they have, I look at the positives - I've had my lightbulb moment. I've got my debts down from £33K about 20 months ago, to just over £5K now. It is really tough when you're on your own, when I was unemployed, I had no second income to make things easier, no shoulder to cry on when the debt chasing phone calls wouldn't stop...............

In the longer term though, I'm accountable for myself. Once I'm debt free (hopefully within this coming year), I can look back over this whole mess and know that I got myself into it (well, being unemployed did), and that I got myself out of it. I'll be armed with a very real awareness of the true value of money, a real fear of debt and credit cards, and knowing that my money is my own. Already a few people from Uni have started going through divorces and I see those people I used to be jealous of with their 'perfect lives, perfect cars, perfect families, perfect holidays..............' having their personal and financial lives ruined as a result. Am I jealous? Not at all. Everything I have is mine and mine alone. My mess is mine alone and I don't have to half it with anyone.

So, for that reason, I don't feel the compulsion to try and have what they have. I'm more than happy to sit back and let them rack up debts as they all try and outdo each other with their consumer goods. My car is paid off, it's 6 years old, but every nut, bolt and smelly tree air freshener in it is mine! Ok it's not a Merc or a BMW like all of theirs are, but it is actually mine and not the banks.

Everyone's situation is very different. Some people have parents who pay for a lot, some people have partners who earn a lot of money, or they have remortgaged properties, or loads of credit card debts, or consolidated debts..............maybe some of them lie awake in bed at night dreading the next days post because they are awaiting letters from DCAs. Who knows. The key to really being happy is being content with what you have, and now wanting what they have. It took me such a long time to learn that lesson.

postingalwaysposting

bathgatebuyer wrote: »

The key to really being happy is being content with what you have, and not wanting what they have.

I think that sums up this whole thread! I dont personally look at what others have and mark myself against them ~ i never had however i like to try and figur out how some of them manage :rolleyes: