Jump to content
House Price Crash Forum
Sign in to follow this  
Chriso

Is This News Relevant?

Recommended Posts

Just caught a news item on the box this morning claiming 4 out of 5 yound women spend more than they earn on shopping for clothes and accesories! :o There has to be a real argument for educating the youngsters in school or the risks of debt and Interest because most don't have a clue, I was included!

I'm a prime example, saw a 15% APR Credit card and thought, 'I could buy a grands worth of stuff and anly have to pay £150 interest to have it 'now'. Great! :lol:

In reality of course that £1000 becomes ---

£1150 - 1 year

£1322 - 2 years

£1520 - 3 years

£1749 - 4 years

£2011 - 5 years :unsure:

Its taking me bloody ages to get over my youthful exuberance, but will be paid off soon enough.

With this spend spend spend mentality, it wont take too long for this whole mess of debt to come to a grinding halt, especially with the Bank of Japan News.

Thoughts anyone?

Share this post


Link to post
Share on other sites

Just caught a news item on the box this morning claiming 4 out of 5 yound women spend more than they earn on shopping for clothes and accesories! :o There has to be a real argument for educating the youngsters in school or the risks of debt and Interest because most don't have a clue, I was included!

I'm a prime example, saw a 15% APR Credit card and thought, 'I could buy a grands worth of stuff and anly have to pay £150 interest to have it 'now'. Great! :lol:

In reality of course that £1000 becomes ---

£1150 - 1 year

£1322 - 2 years

£1520 - 3 years

£1749 - 4 years

£2011 - 5 years :unsure:

Its taking me bloody ages to get over my youthful exuberance, but will be paid off soon enough.

With this spend spend spend mentality, it wont take too long for this whole mess of debt to come to a grinding halt, especially with the Bank of Japan News.

Thoughts anyone?

I honestly doubt that 4 out of 5 women spend more than they earn on shopping.

But I know what you mean about debt. At one point I had run up about £10,000 on some cards and overdraft. Then I got laid off and was out of work for 5 months. OUCH. I consolidated at 6.5% and I have only just finished paying it off last month (Hurrah).

The problem is that no-one is really tightenning up their lending criteria, and they probably won't while investors are happy to buy junk bonds made up of high-risk, unserviceable debt.

Edited by The Colour

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.