you thought todays' cost of living was bad.. (80's comparison)

brightonman123

i am now in my 40's (already? !!!!!!..) and recall working for a finance company leading up to/ during the recession in late eighties - got made redundant with many others, at just age 23, as the firm downsized (ironically after a large scale 'quality service' bonus scheme petered out..)

at the time, i wasnt too bothered as got a few quid payoff, and soon found another job.

i always tried to help people in real need (extend/reschedule loans by a couple of months), to reduce outgoings- most went ok until the higher rates kicked in.

at one stage some revolving credit accounts were being charged at 17% p.a (BoE base rate plus whatever), and people were just handing back they keys to their cars, caravans etc as could not afford the interest, let alone the capital instalments.

i think times are harder now, especially for people on lower incomes, as basic living costs (utilities, food), and also petrol if need a car, just go up and up - there is no buffer zone for many people.