A Thread about Getting into Debt.

Big Debt.

41 to 60 of 78 messages
02/11/2012 at 17:42

An interesting site on finance, How It Ends Finance. 

Once collected over the course of one year all the credit card offers. Came to 64!

02/11/2012 at 17:44
popsider wrote (see)

Apart from the mortgage for the house I've never had any debt.  I've sympathy for people that get into financial trouble though - of course often it's their own silly fault but even so we all make mistakes.  

I try to have sympathy but sometimes it's hard. I worked 80 hour weeks with no time off and no holidays (self employed) for 6 years so I could buy my first flat. My mate moaned that I 'had it easy' and was 'lucky' to be in the position I was. Er, no. Not luck, just hard work! He and his wife had a combined salary that was more than three times what I earned, but they spent it on new cars, Disneyland holidays, garden makeovers, home cinema systems etc. Then constantly complained that I was so 'lucky' that I always seemed to have more money than them and that they were so hard up. They ended up splitting up and he went bankrupt, but in the weeks leading up to him actually filing the paperwork, he was borrowing money from anywhere he could and maxing out all his credit cards. He was bankrupt but managed to buy himself a new big flat screen tv (he said he deserved a treat after all he'd been through!) and I'm still using a CRT TV I bought secondhand over 10 years ago. It pissed me off rather a lot.

I mean, I'm in a bit of debt too. I have a large mortgage and a fairly large overdraft. But nothing I can't deal with.

seren nos    pirate
02/11/2012 at 17:55

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

kittenkat    pirate
02/11/2012 at 18:08
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?

Dave The Ex- Spartan    pirate
02/11/2012 at 18:09
I don't care about others, I like to fit it with me
kittenkat    pirate
02/11/2012 at 18:12
Dave The Ex- Spartan wrote (see)
I don't care about others, I like to fit it with me

That's just masturbation!

Dave The Ex- Spartan    pirate
02/11/2012 at 18:26
I'm married, what else do you expect ?
kittenkat    pirate
02/11/2012 at 18:29

 

I still have regular sex with my husband, you lucked out!

Dave The Ex- Spartan    pirate
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. 

kittenkat    pirate
02/11/2012 at 18:49
M..o.use wrote (see)
You have regular sex with her husband?

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

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
Dave The Ex- Spartan    pirate
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.

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