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[russ0205]

you have hit the nail on the head there albs if you have lost your jobs not enough money coming in any cash looks good,
Four years ago i was in that position i had a stroke at work went onto sick pay and let me say it does not pay the bills despite what people say,it took me nine months to get full help but sadly by that time i had already been made bankrupt, But  when you have kids wanting school uniforms school trips etc and there is no help for that 1776% apr will look good,
Thankfully i didnt go down that road but i could have done.
Ok four years on i can look back and say yeas it could have been me.

 

[Darth Loo-knee]

Tunnie, although I really do like you and see part of your point, I do think you come out with some shite.
Not all people have had shall we say an affluent up bringing, and have had to go to work when leaving school to help pay bills etc at home. Some have been married even got a couple of children at your age, which believe me is expensive.
I have a mate who has always had plenty of money, lovely house, always flash cars but not any children. I had this sort of chat with him about 14 years ago. Then around 5 years ago his Mrs gave birth to a gorgeous little girl. I have never heard another person complain on how much money children cost etc .....

When Doultons closed down around here which employed thousands of people there was some hard times alot of which still have not found other jobs.

Perhaps a little more thought about other peoples finacial difficulties especially at this time.

[jonnycool]

Tunnie, although I really do like you and see part of your point, I do think you come out with some shite.
Not all people have had shall we say an affluent up bringing, and have had to go to work when leaving school to help pay bills etc at home. Some have been married even got a couple of children at your age, which believe me is expensive.
I have a mate who has always had plenty of money, lovely house, always flash cars but not any children. I had this sort of chat with him about 14 years ago. Then around 5 years ago his Mrs gave birth to a gorgeous little girl. I have never heard another person complain on how much money children cost etc .....

When Doultons closed down around here which employed thousands of people there was some hard times alot of which still have not found other jobs.

Perhaps a little more thought about other peoples finacial difficulties especially at this time.

Cannot agree more Daz, there's definitely a reason why misers are wealthy, some people don't realise how lucky they are to have gorgeous, healthy children 

[Lazydocker]

Yep, payday loans are expensive. But sometimes essential I never thought I would ever even consider them but found myself looking into them in the last 10 days. I haven't had an income for 6 months now and have just started the business so things are tight

I did find one PD loan company that was charging something like 14000% APR

As long as you know you are able to repay on the agreed date then they can be a viable (but expensive) option

[tunnie]

Tunnie, although I really do like you and see part of your point, I do think you come out with some shite.
Not all people have had shall we say an affluent up bringing, and have had to go to work when leaving school to help pay bills etc at home. Some have been married even got a couple of children at your age, which believe me is expensive.
I have a mate who has always had plenty of money, lovely house, always flash cars but not any children. I had this sort of chat with him about 14 years ago. Then around 5 years ago his Mrs gave birth to a gorgeous little girl. I have never heard another person complain on how much money children cost etc .....

When Doultons closed down around here which employed thousands of people there was some hard times alot of which still have not found other jobs.

Perhaps a little more thought about other peoples finacial difficulties especially at this time.

Which I did, within a week of leaving school I had a job at Tesco as a shelf stacker, during my time at college I worked at another Tesco in Bread section, followed by a corner shop, 6AM starts were fun! Even took an addition job at Currys one Christmas earning that little bit more, followed by a Marketing Exective job in my last college years.

So between end of school & end of college, I worked quite a few jobs - I saved my money, I did not pish it up a wall on drugs & booze

I choose to save my money, save up for the things I want. After Uni (student loan provided me enough funds), saved every penny I could for 3 years to fund a flat deposit. I took additional work for 6 months working 16 days straight at times, to fund my little holidays.

I remain of my opinion that most people (still employed) with £60k debts are idiots & deserve it. Most I've ever had on a credit card is around £2k, following a trip to Japan. There is no reason why you should rack up that much debt on credit card(s)!

Never spend what you cannot afford. If you don't have the money to pay for it at the end of the month, don't get it!

[Vamps]

Tunnie, although I really do like you and see part of your point, I do think you come out with some shite.
Not all people have had shall we say an affluent up bringing, and have had to go to work when leaving school to help pay bills etc at home. Some have been married even got a couple of children at your age, which believe me is expensive.
I have a mate who has always had plenty of money, lovely house, always flash cars but not any children. I had this sort of chat with him about 14 years ago. Then around 5 years ago his Mrs gave birth to a gorgeous little girl. I have never heard another person complain on how much money children cost etc .....

When Doultons closed down around here which employed thousands of people there was some hard times alot of which still have not found other jobs.

Perhaps a little more thought about other peoples finacial difficulties especially at this time.

Nicely put

I regularly see families struggling financially because of a sudden and unexpected change in circumstances that was not their fault and often they could not see it coming.....

Many people have debt on credit cards, it has been encouraged by the banks for years......yes personal responsibility comes into it, but when times are hard......

And it would seem that it is Miss Vamps aim in life to see me in the bankruptcy courts.....Do not underestimate the cost of children......

[Ken T]

cash flow is king. it wold be nice to live by Tunnie's rules but it doesn't work out that way. If you have got things nicely balanced, paying off the mortgauge, and saving a bit toward a holiday, and suddenly, oops an accident, your missis get pregnant and her wages stop, then the car need a new cambelt, and halfrauds relieve you of £500, and then then extra work is required, "sorry mate the cam gaskets need doing as well, an extra £250", plus you can't use the car to get to work for an extra couple of days, so have to spend on taxi etc. And if you haven't got £xxx in the bank on the 17th of the month the building society will hit you with penalty charges, plus the bank will hit you for being overdrawn, etc, the suddenly a short term loan is very attractive. And something else comes up, the missus needs special hospital care and you have to take time off to look after her, and the loan doesn't get paid back, you are on the slippery slope and heading downwards.

This happens, all too often. I remember when interest rates were around 17%. What would folk buying their home today do if that happened ?.

We need stability, a bit of tunnie's mantra but we have to watch out for those who get caught out by accident.

Ken
     

[tunnie]

Thing is, there is a difference between a £500 car service going on the credit. Having a considerable 5 figure sum is another.

[Andy B]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

[aaronjb]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

How long until they're that high again, I wonder The 0.5% bubble has to burst eventually..

[Vamps]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

I wish I had the house and Mortgage I had when it was, as I would no longer have a Mortgage......

[Andy B]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

How long until they're that high again, I wonder The 0.5% bubble has to burst eventually..

I won't care in another 15 months ...........  Mine will be paid by then! 

[tunnie]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

Not much has changed, my mortgage is 55% of my monthly take home

[Vamps]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

How long until they're that high again, I wonder The 0.5% bubble has to burst eventually..

Tis a worry..... I will ask Tunnie for a loan.........

[aaronjb]

......
I remember when interest rates were around 17%. .....
     

Mmm!  My mortgage was almost a fortnight's wages when they were!

How long until they're that high again, I wonder The 0.5% bubble has to burst eventually..

I won't care in another 15 months ...........  Mine will be paid by then! 

Shut up you 

Like Vamps, it's a bit of a worry for me - granted I'm stuck with 6.19% fixed rate for another three years, but heaven only knows what interest rates will be when that ends..


Best we start forming a line at Tunnie's door