How it all went wrong.

bargainqueen_2

Jeez....Certainly some food for thought.

Katinkka

What a terrible story. I have to wonder though why they went private when they couldnt afford it and ran up these huge, huge bills. THey must have known. SHe must have wondered how her treatment was being paid for.

John_Jackson_2

youngandreckless wrote:

Financial management is vital as you move into adulthood, but who teaches us about it? The very people that benefit! I think the government should make money management as part of the curriculum along with career guidance, sex education and the like that are there to make the "real world" easier.

An introduction to critical thinking, basic finance, how to prepare a budget...

I agree, a few simple changes to what kids are taught could make a huge difference.

Living on credit, a euphemism for living in debt, seems to be the accepted norm. Kids are exposed to crass financial advertising, so by the time they are 16/18 they can't wait to sign credit agreements or spend using credit cards. They don't know that there's an alternative way to live.

horace wrote:

Come on chaps, he was spending other peoples money...

I also think that many people think of borrowing money that way. They are spending the bank's/other people's money.

When a person spends borrowed money, they are spending their own future income. The point hits home when you're struggling today, to pay off yesteryear's spending.

Downsizing__for_sanity

Just read this...shocking. And what shocked me even more, was that after the high moral tone of the Guardian reporter, there were advert for leeches like these...

Advertiser links
UK Personal Debt Help and Services
Reduce your debts by up to 75%. Pay one low payment and let...

debt24.com

Debt Consolidation Loans for Homeowners
Are you a homeowner with CCJs, arrears or defaults? No...

credit-debt.loanspage.co.uk

Debt Solutions UK
With just one low affordable monthly payment you can become...

debt-solutions-uk.co.uk

John_Jackson_2

That could turn out to be counter-productive for those advertisers though. :shhh:

ffs

The advertising sales department at the Guardian would have been actively targetting these companies for business, and would have had forewarning of the subject matter. That is how media sales works.

Turning_into_scrooge

I am amazed at how much junk mail i get from credit card company's since i have been on my DMP with CCCS. I never had as many offers for credit cards as i do now. If i ever had the audacity to attempt to try for one i am well sure they would all be declined that is appart from the vantage card the one with 60% is it? Where is the sense in sending out credit card offers to someone who they will automatically decline? what a waste of resorses, money badly spent, stupidly. As soon as my son turned 18 he started getting them, they all go in the bin. It frightens me to think that the youth of today can still be paying off what has been thrown at them now in 15 years time. Something has to stop this somehow.

elona

Nicely put. Everyone behaves as if credit was a totally different thing to debt!

roversbabe

Very scary - I get approx 4-5 loan & credit card offers a week - I had one last week for a credit card that had a 49.9% APR. I thought I was reading it wrong at first. I just bin them now, although I am tempted to use the reply envelopes to send these companies each others junk (after removing my details of course).

My heart goes out to his family.

tinalives

roversbabe wrote:

I am tempted to use the reply envelopes to send these companies each others junk (after removing my details of course).

I get loads of credit card offers too, and I conscienciously pack all the contents of each into its own postage-paid envelope and send the crap right back to them at their expense.

x