Some people find it hard not to use credit, over here in the UK we have people taking out 4,000% APR loans so that they can pay their mortgage's
because they cant afford to pay their bills. Its insane, what are these people thinking, its just making their situation worse.
The above is terrible, and should not be allowed to even advertise in economic climates as we're in now. But in some cases, i think credit is good
(id rather nobody in the world get credit, and all have money to buy what we want but, thats not reality)
Take for instance your average working, minimum wage parent - Its very easy for them to get caught up in loans, they not only have bills to pay, but
they have clothes and everybody wants decent furniture, a person on minimum wage can not afford this, so they will get credit on a catalogue in which
they can pay monthly at very low rates, sometimes even not having to pay until the year after - I think this type of credit is good if the company
doesnt give out to people who cant afford it.
Allot of people are now getting cars on finance too. . A load of my friends have new cars and they pay £130 a month with insurance included for
3years, so all they have to pay for is petrol and Tax, which is o.k if you want a nice, new motor. These are the type of things i agree with getting
with credit, because they are suplying a service which isnt there just to slam you into debt, its to help you get what you want, without having to
have the full money
The credit i dont agree on is fast loans, like the one i mentioned before which charge you 4,000% APR etc. But like i say, its hard for some people
not to get them, because they have been left with no job and have bills to pay off which they had when they had the money to pay for high bills.
As for a person living within their means if they do have money to survive, but blow it on garbage - well them people will learn the hard way, like
90% of us did. I know a girl who is currently on £1,500 a month and she rents out a flat which costs £980 (alone) Then she has to pay council tax,
utility bills etc - she gets loans out for 5-6 grand every few month, she's currently in over £30,000 worth of debt.
I actually feel very sorry for her and have kind of taken her under my wing as of late. . She's the kind of girl who will buy something even though
she cant afford it, just because somebody else has it who she knows and doesnt want to "seem like a bum" One big contributor as to why young girls
are in so much debt and feel like they have to spend to keep up is because of social networking. People who boast about their life do it via these
places, they will put things on like "just baught £300 watch" "just gone on holiday and spent over "3,000" blah blah blah - but they never put
the bad stuff, they always put how good their lives are - this just makes people have a false preconception that their lives should be as good as that
persons too - driving them to buy things they dont need, go places they didnt really have to go etc.
Sorry for the rant, but i see allot of people around me dragged into debt because they think they have to live this party life style and go buy jeans
which cost £350 - but they think it doesnt matter because "you only live once" pffft - so why fkin blow out all ur money and spend it on # you dont