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we are back
Level 2 dot.orger
Joined: 26 Jun 2011
Posts: 528
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 Posted: Sat Oct 08, 2011 8:23 pm Post subject: Credit Card , pay it off, might as well pay my morgage off |
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Thick government we have who live in Mars.
No one likes to pay intrest of up to 35% on a card, when the base rate is 0.5 percent.
I say stop paying them if you owe more then £44,000 on cards |
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Esox Lucius
Level 5 dot.orger
Joined: 03 Feb 2007
Posts: 9872
Location: Banbury, Oxon.
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| Posted: Sun Oct 09, 2011 9:51 am Post subject: |
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Do people still use credit cards these days? I would have thought it was a very, financially, risky buying strategy. If you haven't got it, don't spend it.
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mrqpr1981
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Joined: 01 Feb 2007
Posts: 3440
Location: High Wycombe
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| Posted: Mon Feb 06, 2012 1:48 pm Post subject: |
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The whole point it 'get your house in order'. If you cant afford stuff (save food and basic living costs) dont buy it!
Unless you are one of the unfortunate people who have lost a job then if you could afford that mortgage 5 years ago then you can afford it now with cash to spare. If you have a steady job and are a home owner then with mortgage rates so low (due to the base interest rate) there is no excuse for overspending.
I have a credit card purely for the protection it offers on purchases, if I use it is because I can afford to pay if off immediately.
I have adopted this over the past 4 years and am now in a position to buy a second property as an investment. It wasn't difficult to spot, the problem is the over-hyped panic by the media.
(NB: not you specifically, but people in general).
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mrqpr1981
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Location: High Wycombe
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| Posted: Mon Feb 06, 2012 1:49 pm Post subject: |
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| Esox Lucius wrote: | | Do people still use credit cards these days? I would have thought it was a very, financially, risky buying strategy. If you haven't got it, don't spend it. |
Spot on.
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1993 5th in the Premier League
1996 Relegation from the Premier League
2001 Relegation from Division 1
2003 Defeat in the League 1 playoff final
2004 Promotion to the Championship
2011 Promotion to the Premier League
... WE'RE BACK!!! |
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DAVEf
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Joined: 02 Feb 2007
Posts: 21330
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| Posted: Mon Feb 06, 2012 3:48 pm Post subject: |
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| Esox Lucius wrote: | | Do people still use credit cards these days? I would have thought it was a very, financially, risky buying strategy. If you haven't got it, don't spend it. |
Tesco do one that gives loyalty points on purchases regardless of where the card is used (with no charges and a decent period at interest-free as well) so it can actually be earning.
It's a competitive market for credit companies and there is little wrong with what they offer just in how they too often get badly used. |
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WA Hoop
Level 4 dot.orger
Joined: 05 Jan 2008
Posts: 4349
Location: Perth, Western Australia
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| Posted: Tue Feb 07, 2012 8:12 am Post subject: |
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A sensible / manageable mortgage aside, I'm lost as to why some people consider borrowing from the future to pay for today as a good idea.
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Life is short, drink the good wine first. |
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mrqpr1981
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Joined: 01 Feb 2007
Posts: 3440
Location: High Wycombe
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| Posted: Tue Feb 07, 2012 10:37 am Post subject: |
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| WA Hoop wrote: | | A sensible / manageable mortgage aside, I'm lost as to why some people consider borrowing from the future to pay for today as a good idea. |
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1993 5th in the Premier League
1996 Relegation from the Premier League
2001 Relegation from Division 1
2003 Defeat in the League 1 playoff final
2004 Promotion to the Championship
2011 Promotion to the Premier League
... WE'RE BACK!!! |
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Don
dot.org legend
Joined: 02 Feb 2007
Posts: 13982
Location: Devizes
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| Posted: Tue Feb 07, 2012 6:02 pm Post subject: |
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Because you only live once, life is not a dress rehearsal, it's best to spend it whilst you can still enjoy it and because you might get hit by a bus tomorrow.
Perhaps that's why I never have much cash.
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DAVEf
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Joined: 02 Feb 2007
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| Posted: Tue Feb 07, 2012 10:58 pm Post subject: |
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| Don wrote: | Because you only live once, life is not a dress rehearsal, it's best to spend it whilst you can still enjoy it and because you might get hit by a bus tomorrow.
Perhaps that's why I never have much cash. |
Aha, you've spotted the myth because, of course, most people don't get hit by buses or even die very young but live plenty long enough to have to pay back many, many times what they borrowed.
The even cleverer part is getting people to spend what they borrow on fluff. Choccy bar stuff that is gone in no time leaving only a craving for more of the same.
But beware being too concious of saving because the poiticians don't like it so now, for example, if you have avoided debt (and even saved) but get old the government will take away you rsavings to pay for your care.
It's a harsh World, even in the hedonistic south west. |
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WA Hoop
Level 4 dot.orger
Joined: 05 Jan 2008
Posts: 4349
Location: Perth, Western Australia
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| Posted: Wed Feb 08, 2012 12:58 am Post subject: |
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I hear what you are saying Don and totally agree with your 'life is not a dress rehearsal' philosophy but living life to the full doesn't necessarily equate to spending money...and certainly not on fluff!
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Life is short, drink the good wine first. |
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DAVEf
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Joined: 02 Feb 2007
Posts: 21330
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| Posted: Wed Feb 08, 2012 5:43 am Post subject: |
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| Government wants to stay in power so it wants people to feel happy and big business to be happy so it's actively encouraged the idea of buy today, pay tomorrow. After all, the politicians doing it want to survive now and the future is for someone else to worry about. But then how stupid are people fot not realising there will be repercussions for debt. It's effectively the micro version of what's happened to nations. |
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BiscuitRanger
Level 3 dot.orger
Joined: 01 Aug 2009
Posts: 2806
Location: Unit 6
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| Posted: Sun Feb 12, 2012 5:28 pm Post subject: |
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| WA Hoop wrote: | | I hear what you are saying Don and totally agree with your 'life is not a dress rehearsal' philosophy but living life to the full doesn't necessarily equate to spending money...and certainly not on fluff! |
I've never paid for Fluff.
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WA Hoop
Level 4 dot.orger
Joined: 05 Jan 2008
Posts: 4349
Location: Perth, Western Australia
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| Posted: Mon Feb 13, 2012 4:55 am Post subject: |
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| BiscuitRanger wrote: | | WA Hoop wrote: | | I hear what you are saying Don and totally agree with your 'life is not a dress rehearsal' philosophy but living life to the full doesn't necessarily equate to spending money...and certainly not on fluff! |
I've never paid for Fluff. |
So say you! 
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Life is short, drink the good wine first. |
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BiscuitRanger
Level 3 dot.orger
Joined: 01 Aug 2009
Posts: 2806
Location: Unit 6
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| Posted: Mon Feb 13, 2012 11:10 am Post subject: |
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| WA Hoop wrote: | | BiscuitRanger wrote: | | WA Hoop wrote: | | I hear what you are saying Don and totally agree with your 'life is not a dress rehearsal' philosophy but living life to the full doesn't necessarily equate to spending money...and certainly not on fluff! |
I've never paid for Fluff. |
So say you! |
But I'm always on the lookout for amateur fluffers. Some say it's stalking, but I think of it as just sitting very still in a bush.
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WA Hoop
Level 4 dot.orger
Joined: 05 Jan 2008
Posts: 4349
Location: Perth, Western Australia
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| Posted: Mon Feb 13, 2012 12:14 pm Post subject: |
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[quote="BiscuitRanger"] | WA Hoop wrote: | | BiscuitRanger wrote: | | WA Hoop wrote: | | I hear what you are saying Don and totally agree with your 'life is not a dress rehearsal' philosophy but living life to the full doesn't necessarily equate to spending money...and certainly not on fluff! |
I've never paid for Fluff. |
So say you! |
But I'm always on the lookout for amateur fluffers. Some say it's stalking, but I think of it as just sitting very still in a bush.[/quote]
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