Lab 10,979 Posted July 8, 2013 Report Share Posted July 8, 2013 finance-wise, if I had to give any young person advice it'd be don't be temped by easy credit....don't get a credit card, overdraft, loan etc. under any circumstances, if you want something just wait til you have the money. Once you slip in the trap of getting a credit card or something on finance it's very hard to get straight again, no matter how much you promise yourself it's short term, the temptation will always be there. Skint isn't when you have only just got enough money for food and bills etc. Skint is when you're so far behind on finance and credit cards that you're permanently in the red, and there are millions of people like that.....and it's all because they've bought things on credit cards or gone far too deep into overdrafts. I've known people to have overdrafts that are bigger than there monthly salary, it's outrageous that banks would ever allow that to happen! The whole credit card thing annoys me really. I'm 32, and as ive said always been good with money and never needed a credit card to buy stuff. Ive had a loan for a car, which i paid off, always had phones on bills with direct debits, never owed any money or failed to pay anyone back. But recently things were getting a bit tight so i thought id apply for a wee credit card to hopefully get me through the summer and i'll get it paid off when the pheasants start to go out the door and i got f***ing refused??? Hows that?? So what there saying is nope we are not giving you money because you will pay it back.....we will however give it to someone who is going to struggle to pay it back and we will be raping them for every bit of there hard earned. Annoying!!... 2 Quote Link to post Share on other sites
rob190364 2,594 Posted July 8, 2013 Report Share Posted July 8, 2013 We have students who come to work with us for their placement year, most of them have anything up to £20,000 worth of debt after 4 years of University and they are only in their early twenties. How are they ever going to pay it back once they start work? I find it unbelievable. Usually it's because students are deluded and think they'll be earning fortunes once they have a degree! 5 Quote Link to post Share on other sites
gnasher16 30,213 Posted July 8, 2013 Report Share Posted July 8, 2013 I think the more you chase money the more you end up needing..........until you end up being dictated to by it........its taken me years to realise the things in life most valuable are free anyway !..................I have every respect for any man who can work a pound note,but never underestimate the value of a stress free life.Thats Sadly What I Was Like Gnash At 1 Time . . Dictated By It !! Its a horrible thing when money becomes more important than family..........especially when you end up with a lot of one and none of the other because your priorities were wrong..................id choose family over money any day of the week unfortunately some of us learn too late ! 3 Quote Link to post Share on other sites
Blackbriar 8,569 Posted July 8, 2013 Report Share Posted July 8, 2013 finance-wise, if I had to give any young person advice it'd be don't be temped by easy credit....don't get a credit card, overdraft, loan etc. under any circumstances, if you want something just wait til you have the money. Once you slip in the trap of getting a credit card or something on finance it's very hard to get straight again, no matter how much you promise yourself it's short term, the temptation will always be there. Skint isn't when you have only just got enough money for food and bills etc. Skint is when you're so far behind on finance and credit cards that you're permanently in the red, and there are millions of people like that.....and it's all because they've bought things on credit cards or gone far too deep into overdrafts. I've known people to have overdrafts that are bigger than there monthly salary, it's outrageous that banks would ever allow that to happen! You sound like my sainted Mum - and that's a compliment - as that is exactly what I was brought up to believe, and it's held me in good stead for all of my adult life. Like I've already said, to me the ultimate insanity is spending money you haven't got on things you don't need, in the foolish belief that it will make you happy!! 1 Quote Link to post Share on other sites
Giro 2,648 Posted July 8, 2013 Report Share Posted July 8, 2013 financial worries is a deep hole and some poor feckers cant cope and just check out Anyone experiencing debit don't bury your head in the sand get some advice Quote Link to post Share on other sites
the_stig 6,614 Posted July 8, 2013 Report Share Posted July 8, 2013 (edited) This'll be a big couple of years for me, built our (me and brother) business up for 15 years and then last January we merged with the man I first learnt from, giving us a much bigger concern, more headache and problems but hopefully the rewards to match. To come off the tools and run it was a big decision for me, but it would seem it was the right one.. We've picked up a lot of work enough for the rest of this year and 2 contracts that will be going for 3-4 years... I'm not counting my chickens though, 3 years ago we nearly lost the lot ( literally) when the shit dropped down hill from tescos and caught us at the bottom for over 40k, I learnt a few hard lessons there.... We'd worked our bollocks off all over the country and we still ended up close to being homeless... We'll see though, as my Dad always says " keep your head down and your ass up"........ Shit that sounds so wrong lol I stayed smallish 4 full time and a few subbies -- any spare cash I put into property and a bit of land and sold it when it was right --took a few years paid contract managers job then called it a day ..got some holiday lets that bring in a decent wage and then my bit of buying and selling to keep me active ...choose the time you want to get out and plan for that -- hope it all works out for you look at a good private pension aswell Bit of spare cash to buy property and land We get the idea, you're minted Once you have some money it's easy to make a lot of money, it's getting to the some from none that's tricky. I really do need to get a bit more motivated but it's tricky to decide if it's better to have more leisure time with limited money or more money but less time to spend it, I am currently trying to find the best of both. I got the balance right with work and family life ... I was lucky enough to have cash in my pocket when a bungalow came up for sale and I took some land in payment for a job ------------ it went on from there been carefull with it but what really set me up was working my bollox off painting pylons to be mortage free which I was by the time I was 22 or 23 and I`m still in the same house now ... Edited July 8, 2013 by the_stig 2 Quote Link to post Share on other sites
cookiemonsterandmerlin 145 Posted July 8, 2013 Report Share Posted July 8, 2013 Nowt wrong with credit cards so long as you got the cash yo pay them off I use my business one on my account have 30 days I then pay with a credit card so it give me nearly 60 days when the clients pay me there money is in my account for nearly 60 days earning me intrest . I think times are hard for some folk but TBH if you can afford internet connection computer etc etc I dont think techinally your skint maybe not flush but far from skint. Anybody would think that the economy has total ceased there still trading in all aspect most of the country still has jobs in percentage terms . ATB Cookie Quote Link to post Share on other sites
Lab 10,979 Posted July 8, 2013 Report Share Posted July 8, 2013 financial worries is a deep hole and some poor feckers cant cope and just check out Anyone experiencing debit don't bury your head in the sand get some advice Thats certainly true......i think some folk would be surprised at whats out there when you look. I heard on the radio theres some scheme the now and if you are more than 3000 in debt you can get 70% written off. Not sure if theres a catch but it would be worth a look if you were ever struggling, well really struggling. Quote Link to post Share on other sites
Born Hunter 17,776 Posted July 8, 2013 Report Share Posted July 8, 2013 We have students who come to work with us for their placement year, most of them have anything up to £20,000 worth of debt after 4 years of University and they are only in their early twenties.How are they ever going to pay it back once they start work?I find it unbelievable. I'm no different. But don't think of student debt the same as other debt, it's practicaly no worry at all. You don't even start paying it back untill you are earning over a threshold and then it's minimal and the interest rates on it are crazy low relative to normal debt. If you have been sensible, you have got a decent qualification that puts you in a more prosperous position in life, if not then you pay f**k all back anyway. It's stupid when people borrow and then blow the money leaving them with little or no assets to cover the value of their debt. Borrow as much as you like as long as what you buy will at least equal in value the debt you owe untill it is paid off. 1 Quote Link to post Share on other sites
paulus 26 Posted July 8, 2013 Report Share Posted July 8, 2013 Nowt wrong with credit cards so long as you got the cash yo pay them off I use my business one on my account have 30 days I then pay with a credit card so it give me nearly 60 days when the clients pay me there money is in my account for nearly 60 days earning me intrest . I think times are hard for some folk but TBH if you can afford internet connection computer etc etc I dont think techinally your skint maybe not flush but far from skint. Anybody would think that the economy has total ceased there still trading in all aspect most of the country still has jobs in percentage terms . ATB Cookie but most of the country is not getting wage rises that reflect the real rises in the cost of living year on year, so things are getting harder for most people, the further down the wage scale you are the harder its becoming. Quote Link to post Share on other sites
paulus 26 Posted July 8, 2013 Report Share Posted July 8, 2013 financial worries is a deep hole and some poor feckers cant cope and just check out Anyone experiencing debit don't bury your head in the sand get some advice Thats certainly true......i think some folk would be surprised at whats out there when you look. I heard on the radio theres some scheme the now and if you are more than 3000 in debt you can get 70% written off. Not sure if theres a catch but it would be worth a look if you were ever struggling, well really struggling. anyone who is in debt should seek the advise of one the various debt charities out there, Consumer Credit Counselling Service etc its free and impartial Quote Link to post Share on other sites
cookiemonsterandmerlin 145 Posted July 8, 2013 Report Share Posted July 8, 2013 Its a pride thing Alot of people would not like to own up to family and friends when there in deep shit . But there alot of people who would put off getting rid of non essential parts of there life just to save face ATB Cookie Quote Link to post Share on other sites
paulus 26 Posted July 8, 2013 Report Share Posted July 8, 2013 Its a pride thing Alot of people would not like to own up to family and friends when there in deep shit . But there alot of people who would put off getting rid of non essential parts of there life just to save face ATB Cookie your kids can not eat a computer however a computer is now classed as a necessity by the government without one you are restricted as most benefits are now only claimable online and part of the new job seekers agreement involves internet connection to comply this will be even more so with the introduction of universal credit. This applies to all benefits whether unemployed or in employment Quote Link to post Share on other sites
cookiemonsterandmerlin 145 Posted July 8, 2013 Report Share Posted July 8, 2013 Its a pride thing Alot of people would not like to own up to family and friends when there in deep shit . But there alot of people who would put off getting rid of non essential parts of there life just to save face ATB Cookie your kids can not eat a computer however a computer is now classed as a necessity by the government without one you are restricted as most benefits are now only claimable online and part of the new job seekers agreement involves internet connection to comply this will be even more so with the introduction of universal credit. This applies to all benefits whether unemployed or in employment Who said I was on about benefit claiments on was on about working folk . My dad claims benefits he has no computer Quote Link to post Share on other sites
dytkos 17,802 Posted July 8, 2013 Report Share Posted July 8, 2013 Spent the first 15 or so years of my working life working, bought a house, then a better one, then a better one. Then got divorced and headed to Cornwall with a transit van, a couple of boxes of books and a box of taxidermy The rest is history - I'm still skint Cheers, D. 2 Quote Link to post Share on other sites
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