A Thread about Getting into Debt.

Big Debt.

41 to 60 of 70 messages
02/11/2012 at 18:26
I'm married, what else do you expect ?
02/11/2012 at 18:30
So do I ! Teehee
02/11/2012 at 18:36
You have regular sex with her husband?
02/11/2012 at 18:40

Worked in Financial services for about three months. An eyeopener that one. I gave up almost in shock. How about this one as an example. An educated couple who had decided that the small matter of their salaries not being enough to satisfy their plans and ambitions had borrowed and spent approximately double their combined take home pay for seven years. Their combined take home pay was now not enough to meet the minimum interest payments. They'd gone so far to borrow money to pay the interest. Can you help? er, not really. 

02/11/2012 at 18:51

I work in HR, in a university.

It really is amazing how many of the staff don't know what their salary is (they ring up to ask), and whether or not they are in the pension scheme!

I asked one person, who was enquiring about retiring, whether she was in the pension scheme.  She asked me how she would know this?

My own sister knew she was in a pension scheme, but didn't know which one.

I guess these are people who have enough money!

02/11/2012 at 18:52
kittenkat wrote (see)
M..o.use wrote (see)
You have regular sex with her husband?

As long as money is exchanged, I'm cool with that.

You don't mind your husband paying for sex with a man?

Edited: 02/11/2012 at 18:53
02/11/2012 at 18:54
Well I'm on the dole, so my giro won't stretch to paying for anything !
seren nos    pirate
02/11/2012 at 19:21
kittenkat wrote (see)
seren nos wrote (see)

yes run with dogs.amnazing how many people in total debt still go on holidays or out for meals, cinemas or takeaways.............i would not be happy until i had paid it all off as quickly as possible

But to use your own analogy, it's amazing how many fat people keep on eating too much. It's not black and white and I think different people are always going to have different problems and different personal controls. In a 'perfect world' we all know how we ought to behave if we want to fit in with other people or be bothered about public opinion, or indeed to keep out of trouble.

But what do we actually want? Really? And what if people who you disagree with define that? For example Rubenesque used to be desirable, now it's stick thin. Why does a big swathe of society go for that? What's the psychology behind the pack animal thing still surviving in the modern world?

thats why i think a lot of people go into debt trying to find happiness............just as some people overeat to try and find happines.or sleep around......or drink

in the end none of it will.......which is why to me being heavily in debt is just the same as being overweight...........its someone making the wrong life choice in a pursuit of happiness....just taken a different choice..

02/11/2012 at 19:28
@Xine - I'd quote the post but it doesn't let me on the iPad.

Yes, dependent upon the country, income - you're assessed on a yearly basis. This doesn't include how much you 'actually' receive each month or other debts (e.g. overdraft, bank loans) but on what is considered "an acceptable living standard" in the country.

I've got two terms of reference my own loan and a friends. Both of which are drastically different than what we were charged in the uk.

The abroad assessment truly sucks and penalises those who move abroad to find work.
02/11/2012 at 19:49

I recall reading something Bob Geldof put in his autobiography 'Is That It' about having money. Its about having choices, the more money you have the more choices. But if you are in debt it means other people can apply leverage on you, can make demands on you, get you to do things against your will. Your life doesn't belong to you. So the aim is to get enough money as Humphey Bogart put, F..you money.

Personally speaking I didn't like the way 20 years ago the landlord could just put up the rent wiping out my pay increase. So duly stung, I got going.  Eradicated all sources of leverage.

OW
02/11/2012 at 21:40

I agree with Seren's comparision of obesity and debt

 

I was thinking only this morning that the times in my life when I've felt pulled by consumerism have been when miserable.... I'm also a comfort eater.

 

I have a friend who's a bag of bones when unhappy. Weight is definitely linked to happiness for her and me - but in different ways.

However I've never ever been in debt and I'm a healthy BMI. 

I know if I overeat I'll get fat so I fight that urge or exercise more.

I would never ever get into debt through spending...maybe redundancy?    I don't buy anything I don't need unless I know I can afford to

I am not saying either of those is easy but I'm damn sure being overweight and in debt would upset me far more. It's a no brainer

 

I am also lucky, in a good well paid job, have my own house and haven't faced redundancy. I have a good pension as well.  I do work full time - working has never been a choice and has got me where I am. But I know others who have had bad luck job wise with redundancy etc. Not everyone can get a well paid job. So I do appreciate what I have

 

OW
03/11/2012 at 07:18

A young guy I worked with was bemoaning the fact he was skint and in a way considered himself at the bottom of the financial pile. However, he had no credit cards and no debt so perked up when I suggested he was in fact wealthier than about 25% of the UK population.

From the Office for National Statistics: 24.3% of population in negative finance. i.e worth (only money wise) less than zero. Who bloody cares, we aren't taking it with us.

05/11/2012 at 16:11

Hmm. Timely thread. I'm about to move to Saudi Arabia. Not because I love the place(!) but because I don't like debt, still have a mortgage to pay and not much of a pension.

On the down side - despite full employment history, couldn't remain solvent in UK - single income, kids

On the upside - 8 years in Bahrain doing what I trained to do (Masters in 'Training across Cultures') put the kids through Uni debt free. Please don't level the tax free accusation - I (among other things) channel 50 students per year at 100k per through UK universities, 5 mill into the economy per year, and I don't use dole, roads, hospitals or armies!

05/11/2012 at 20:25

People have received knighthoods for less. Much less. 

seren nos    pirate
06/11/2012 at 08:04

If they can afford to  pay 100k per year to come to university here .then i'm pretty sure that their parents would have sent them here with or without your envolvement..........but if it make you feel better about not paying taxes then keep on telling yourself you are doing it all for your country 

06/11/2012 at 08:17

I think if you actually live there, and those are the tax rules, then there is no accusation to be levelled.

06/11/2012 at 08:26

Hello Mr Seren

No, I select and guide scholarship candidates for the national oil company whose training and development activities I manage. There's a world shortage of Chemical Engineers, so there's a need to make some from scratch. Parents don't pay unless the student chooses not to work for the company for at least as long as the period of sponsored education. Not really doing it for my country of birth (although it gains revenue), rather more for the country of residence and employment

seren nos    pirate
06/11/2012 at 09:10

right.

i was just suprised when you felt the need to bring up the tax thingy in detail as a defence...the thread was about debt 

as Mike said if yiou pay the tax that is due from you in the country youlive/work then there is no problem

Bouncing Barlist    pirate
06/11/2012 at 10:50
A little warm wrote (see)

Hmm. Timely thread. I'm about to move to Saudi Arabia. Not because I love the place(!) but because I don't like debt, still have a mortgage to pay and not much of a pension.

On the down side - despite full employment history, couldn't remain solvent in UK - single income, kids

On the upside - 8 years in Bahrain doing what I trained to do (Masters in 'Training across Cultures') put the kids through Uni debt free. Please don't level the tax free accusation - I (among other things) channel 50 students per year at 100k per through UK universities, 5 mill into the economy per year, and I don't use dole, roads, hospitals or armies!

If it wasnt for the British Army & coalition of nations, I dont think Saudi Arabia would be a place youd want to move to! 

Edited: 06/11/2012 at 10:51
06/11/2012 at 11:48

This is a slightly different spin on this thread, but I just want to say that used correctly, debt/borrowing can be put to good use.  I'm not talking about maxing out on credit cards for a fancy kitchen/TV/car/holiday, but using it 'appropriately'.

When he was building his business, my FiL used the "borrow as much as you can for a long as you can" line.  It doesn't sit quite right with me, but he is probably the wealthiest person I know.  Maybe he got lucky, but I don't think that's the case.  I think he borrowed money to turn it into something else and he's done okay out of it.  He is not scared of debt at all...his main financial aim in life is to keep hold of his capital and borrow against it as appropriate.

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