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Guest Charlie The Tramp

Britons Are Financial Fantasists Survey Claims

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Guest Charlie The Tramp
A third of Britons are "financial fantasists" who do not worry about their monetary situation because they believe they will be earning more in the future and can borrow to fill any gaps, a new survey has found.

The report, produced by National Savings & Investments, finds that the majority of British people admit to not having made any financial plans for the future while 15pc of those interviewed do not even think about their finances.

With interest rates rising, a recent update the Halifax building society showed that some consumers were starting to save more and pay off their debts.

But this survey, which is based on interviews with 1,500 adults, reveals that a hardcore of Britons are much more quixotic about their financial position.

They have only just discovered this. :blink:

Britons are 'financial fantasists'

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They have only just discovered this. :blink:

Britons are 'financial fantasists'

yeah this is the fantasy I most often hear rolled out when my FTB peers explain why they think buying 6xincome is wise in an era of low wage inflation. "Oh well, my wages will go up"... whither interest rates then, I wonder? But the connection takes some explaining to many...

But really, what this tells us that the two word solution "go without" has been lost from the average Briton's vocabulary. Why defer your gratification when you can defer your pain instead?

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Guest mattsta1964
They have only just discovered this. :blink:

Britons are 'financial fantasists'

See Larry Elliot's book Fantasy Island. A pretty accurate critique of political folly and mass ignorance on the part of the British people.

I become more and more disturbed by our predicament by the day. Our attitude to money has become nothing less than decadent. "Borrow as much as you can, go bankrupt, who gives a toss, it's someone else's money"

The joke is, most of it isn't someone elses money at all. It isn't even real money, just a phantom created by the banking industry to earn interest on a bunch of ones and zero on a computer ledger. Repellent

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See Larry Elliot's book Fantasy Island. A pretty accurate critique of political folly and mass ignorance on the part of the British people.

I become more and more disturbed by our predicament by the day. Our attitude to money has become nothing less than decadent. "Borrow as much as you can, go bankrupt, who gives a toss, it's someone else's money"

The joke is, most of it isn't someone elses money at all. It isn't even real money, just a phantom created by the banking industry to earn interest on a bunch of ones and zero on a computer ledger. Repellent

I think Larry Elliot posts on here.

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