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This Goverment.....

voorhees Oct 10, 2008

  1. Ess_Three

    Ess_Three Active Member

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    Don't get me wrong...I'm not afraid of debt.
    As long as it's risk assessed and managed debt.
    I have no desire to limit my lifestyle in order to be debt free...nor do I feel the need to get in debt over my head in order to have bling-**** to impress the neighbours.

    I spent a fortune on a car, a depreciating asset, which I was in debt for. But it was what I wanted to do, and the paid for part always covered the depreciation so no matter how my circumstances changed, I could always walk away debt free (but possibly car-less) and my mortgage wasn't at risk.
    A home is important to me...but so are other things in life. I suppose it's all about proirities.

    Spending on toys is fine by me...as is managed debt as long as the basics are covered. If they aren't however, people shouldn't go moaning when it all goes a bit Pete Tong and they risk their house.
     
  2. HTC

    HTC Active Member

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    After sitting in your car at inters Glen, I think I could put up with some managable debt :)
     
  3. StrmsekS3

    StrmsekS3 Member

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    i think a lot of people use university as a scape goat for debt and dnt get me wrong i had some as well less than 2 grand but friends have had upto 15grand but of course thats not so bad if you have a fair idea you will get a decent job like mike i know very well the oil industry and the wages have helped many ppl live good lives with lots of toys!
    but when it comes to houses i think you have to tread super careful esp at the moment, i also think many ppl who were borderline for a morgatage 5yrs ago are going too start to struggle as all costs are rising and so will morgagtage rates!

    only time will tell
     
  4. Ess_Three

    Ess_Three Active Member

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    :laugh:

    I'm not sure I'd do the same again, now though.
    Things have changed since early 2004 when I ordered it. With mortgages being uncertain, I'd not take the 'risk now.
     
  5. Geordie Mike

    Geordie Mike Yeee-haw

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    Why someone would choose to get tens of thousands of pounds of debt doing some pointless degree that makes them no more qualified to say "would you like fries with that" is beyond me. God help my as yet unborn daughter if she asks me to support her through a media studies degree.
     
  6. unkle

    unkle Beer God

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    I think its rather clever to be honest, one minute this Government owns jack as we have sold off all the Utilities, Armaments, Powerstations, Telecoms etc etc.

    The next minute the Government owns large parts of our major banking infrustructure, all bought at cheap knock down rate with our own money!

    Personally though, I dont have much debt so not too concerned. Houses round these parts have been quite pricey for a few years, they stopped rising about April and now have started falling, Im hoping the property bubble bursts over xmas and prices come down quite sharply...
     
  7. jdp1962

    jdp1962 Grumpy Old Moderator Staff Member Moderator Team V6 TFSI Owners Group Gold Supporter Team Tornado quattro Black Edition Audi S4 s tronic

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    Spot on, Andymac, as ever. For every irresponsible lender, there is an irresponsible borrower. A credit facility is just that; a facility. It only becomes a debt when you spend it.

    I am sick and tired of people who have acquired (not bought) every single acouttrement of modern affluent living on endless credit, and are now bleating because the taps have been turned off and from now on, they are going to be restricted to spending what they earn.
     
  8. Just Plain Old

    Just Plain Old Active Member

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    I have a friend like that, only difference is he runs his own business and is aware of the risks he is taking. He is all to aware that, in his own words, he is only ever '3 Months away from losing everything'. But then again the same could be said for most people...........
     

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