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maverick73

Shopping splurge averts Brexit vote hit to economy

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I am inclined to believe that the madness of spending money is going to be the debt-laden doom of us all. If we're so impetuous to purchase homes, what happens to us when we cannot afford to reside within the country we were born in?

https://www.ft.com/content/c061e51a-c8f5-11e6-9043-7e34c07b46ef - Consumer spending rises but savings fall to low levels.

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Also the spending coincides with credit card spending increasing so the money is all from debt , can thank all the credit cards offering 24 months interest free on purchases for that I suspect.

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withdrew some cashmoney from one of those in store cashmoney machines yesterday and there were a load of those receipts discarded on the top, a quick straw poll with the naked eye suggests 80% of people in my area are in their overdraft. just sayin.

 

 

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5 hours ago, thewig said:

withdrew some cashmoney from one of those in store cashmoney machines yesterday and there were a load of those receipts discarded on the top, a quick straw poll with the naked eye suggests 80% of people in my area are in their overdraft. just sayin.

 

 

Great way of checking the local population's financial state of affairs! I'll do the same next time I visit one. Anecdotally colleagues at work spending 5, 6, or 10 times more on Xmas than we our. Their household income can't be more than 3 times ours. Crazy. (E.g £40 on a wreath!)

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1 hour ago, Kiwi_Muncher said:

Great way of checking the local population's financial state of affairs! I'll do the same next time I visit one. Anecdotally colleagues at work spending 5, 6, or 10 times more on Xmas than we our. Their household income can't be more than 3 times ours. Crazy. (E.g £40 on a wreath!)

GF and I haven't spent anything extra on this Xmas. The presents we gave consisted of pots of homemade jam and pickle and only 12 of those were given away as they're so valuable!. I confess that I did post 5 cards and GF sent a few more; must try harder. All our friends did pretty-much likewise as we're all so fed up with the falseness.

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Watching a Christmas Special episode of Can't Pay Well Take it Away the other day... according to that there's an average of £650 BORROWED BY EVERY UK ADULT... just for Christmas spending.

I'm genuinely completely staggered by that stat if it's accurate, the fact that anyone would spend that much on Christmas is shocking enough but the fact that it's borrowed money just takes it to a whole new level of insanity.

 

I really must lead a vastly different life to the majority of the uk population

Edited by nome

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2 hours ago, nome said:

Watching a Christmas Special episode of Can't Pay Well Take it Away the other day... according to that there's an average of £650 BORROWED BY EVERY UK ADULT... just for Christmas spending.

I'm genuinely completely staggered by that stat if it's accurate, the fact that anyone would spend that much on Christmas is shocking enough but the fact that it's borrowed money just takes it to a whole new level of insanity.

 

I really must lead a vastly different life to the majority of the uk population

I am always surprised at stats like that.  I know some friends and ex-colleagues tjy how crazy over Christmas relative to me, but I would nt have thought they were getting £650 into debt over it.

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Neighbours said they spent 2K on Christmas as it "only comes once", I had to hurry my children into the house because they might find out how stingy mummy is. The neighbours husband works the same job as I, we are both renters.

What the flippin heck do folk think they are doing, 

 

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Just now, mathschoc said:

Neighbours said they spent 2K on Christmas as it "only comes once", I had to hurry my children into the house because they might find out how stingy mummy is. The neighbours husband works the same job as I, we are both renters.

What the flippin heck do folk think they are doing, 

 

Perhaps Christmas does only come once if you spend £2k

 

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6 hours ago, Kiwi_Muncher said:

Great way of checking the local population's financial state of affairs! I'll do the same next time I visit one. Anecdotally colleagues at work spending 5, 6, or 10 times more on Xmas than we our. Their household income can't be more than 3 times ours. Crazy. (E.g £40 on a wreath!)

I always thought wreaths were a fun thing that people made themselves...obviously I'm missing the point ;)

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12 hours ago, thewig said:

withdrew some cashmoney from one of those in store cashmoney machines yesterday and there were a load of those receipts discarded on the top, a quick straw poll with the naked eye suggests 80% of people in my area are in their overdraft. just sayin.

 

 

Now thats evidence! Im in my overdraft, but I have 4 accounts in all. The day to day one is always a little over drawn. Thats not to say I dont have money, it just isnt in that one.

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Its nice to have to have a fridge stocked with beer. Chocolate treats and some meat for roasting. But seriously, how do you spend 1 or 2k on xmas? I assume its spending bi cash on presents for kids.

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4 minutes ago, 999house said:

Its nice to have to have a fridge stocked with beer. Chocolate treats and some meat for roasting. But seriously, how do you spend 1 or 2k on xmas? I assume its spending bi cash on presents for kids.

seems to be a status thing. people at work try to outspend eachother. one even brought in her tesco reciept to show us what she bought and how expensive it all was

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Kids get ~150-200 present sepnd in total, each.

Partner gets a meal out of her choice.

We go out for a couple ofm meals too - after the Family Services and the like, so another 200 on booze + food.

But this is money I have.

Id never borrow money for Xmas.

A lot of people I know are in the benefit parent bracket - with tax credits, no longer the bread line thing it used to be..

But even the majority go fcking nuts. Basically, its like children with access to (expensive) credit.

 

 

 

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Regardless of what the ONS have reported - retail performance has been poor... lots of struggling retailers slashing prices, sales starting early. Going to start the year with a massive flop rather than a bang.

http://www.blackpoolgazette.co.uk/news/business/warning-over-retail-slowdown-1-8301321

Everywhere you look the soil is being turned... now is the time for prudence - not to be taking on debt. Do these people value irrelevant tat over their children's financial security?  It's madness.

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8 minutes ago, Mapatasy said:

Regardless of what the ONS have reported - retail performance has been poor... lots of struggling retailers slashing prices, sales starting early. Going to start the year with a massive flop rather than a bang.

http://www.blackpoolgazette.co.uk/news/business/warning-over-retail-slowdown-1-8301321

Everywhere you look the soil is being turned... now is the time for prudence - not to be taking on debt. Do these people value irrelevant tat over their children's financial security?  It's madness.

Rates and rents are the biggest factor here. 

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I'm with spy on this.  Guess it might be a shared culture and I was always taught not to buy on tick 'if you can't pay one week, one week, you can't pay two the next.  The motto being to live within your means.  

When my kids were younger, I said to them once, you have fifty quid for clothes, do you want a range of stuff from the cheaper stores or one designer item? Your choice.  They have never lusted after designer stuff from then on and as a concequence Xmas was pretty cheap ;)

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I bought a car last weekend. The dealership was quite amazed when I said I was a cash buyer.

Car, insurance, new clothes and other bits and pieces I have added 14K to the economy in the last 7 days

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10 hours ago, Kiwi_Muncher said:

Great way of checking the local population's financial state of affairs! I'll do the same next time I visit one. Anecdotally colleagues at work spending 5, 6, or 10 times more on Xmas than we our. Their household income can't be more than 3 times ours. Crazy. (E.g £40 on a wreath!)

The worst way is to be stuck in a till queue as 2 or 3 people n front of you get  their credit cards took off them.

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My sales go up at Christmas in Oct, Nov, Dec and Jan by a factor of about 2x, 3x, 5x and 3x respectively. Oct increase is a first for me while Jan is due to people needing my stuff to go with something they got for Christmas. Some of this is money from overseas int the U.K. too.

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2 hours ago, Mapatasy said:

Regardless of what the ONS have reported - retail performance has been poor... lots of struggling retailers slashing prices, sales starting early. Going to start the year with a massive flop rather than a bang.

http://www.blackpoolgazette.co.uk/news/business/warning-over-retail-slowdown-1-8301321

Everywhere you look the soil is being turned... now is the time for prudence - not to be taking on debt. Do these people value irrelevant tat over their children's financial security?  It's madness.

Retails is on its ar5e.

5 years ago, it was BOGOF on the bit tubs of xmas choccies.

Not only have the boxes shrunk, theres been no BOGOF deals.

If it carries on like this Ill have to do a round-robin email saying I gave all the cash Id have spent on office chocciies to some crippled kids in Russia.

 

 

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12 minutes ago, Kurt Barlow said:

I bought a car last weekend. The dealership was quite amazed when I said I was a cash buyer.

Car, insurance, new clothes and other bits and pieces I have added 14K to the economy in the last 7 days

One of my reliable indicators is bloke who  flogs redone cars by parking them on the verge.

Id guess he's a mechanics doing one-off deals from people in the pubs.

He spot on - as soon as cars crop up, the economic figures 6 months later are always sh1t.

 

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