Don't spend money, use a card....
03-03-2011, 12:03
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#1
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,315
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Don't spend money, use a card....
Quote:
Credit cards do not count as spending, say young adults....
.... A third of young adults in the UK think buying something on a credit card does not count as spending money, a survey suggests
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http://www.bbc.co.uk/news/education-12627107
It's no surprise to me that the prevailing 'credit culture' has created the impression amongst some people that you can continue to buy things even when you don't have any money....
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03-03-2011, 12:59
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#2
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[NTHW] pc clan
Join Date: Jun 2003
Location: Tonbridge
Age: 58
Services: Amazon Prime Video & Netflix. Deregistered from my TV licence.
Posts: 21,960
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Re: Don't spend money, use a card....
Quote:
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Only 4% of those surveyed could remember receiving financial advice or guidance on how to manage their finances from their school or college.
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Since when did common sense have to be taught?......and is it even possible to teach it? 
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03-03-2011, 14:06
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#3
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Inactive
Join Date: Oct 2008
Location: Huntingdon, Cambs
Age: 59
Services: SKY HD+, BT BB
Posts: 586
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Re: Don't spend money, use a card....
it was never taught when I was at school - should be a parental responseability to teach the value of money
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03-03-2011, 14:14
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#4
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Inactive
Join Date: May 2005
Location: Nr Manchester
Age: 48
Posts: 1,109
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Re: Don't spend money, use a card....
I use my card for a lot of things but it gets paid off every month.
It is so easy though to hand over the piece of plastic and walk out with your goods, same with credit at stores etc, sign a piece of paper and walk out.
I once got stung when I was 18.
I bought a car stereo on credit, missed a couple of payments and fell behind.
In the end I think I spent 600+ on a £200 car stereo, I vowed never to do that again.
The only debt I have now is my mortgage everything else I save up for and that is what my son is taught. Save your pennies and you can buy whatever you want.
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03-03-2011, 15:51
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#5
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Inactive
Join Date: Jul 2009
Location: Guildford, Surrey
Services: VM TVM HD, BBL, phone; BT phone; Freeview.
Posts: 982
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Re: Don't spend money, use a card....
No - it really can be free money. Get a card, max it out, ignore the lender when they ask you to repay, go to court, get the debt written off. Easy.
http://www.bbc.co.uk/news/business-12622318
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03-03-2011, 15:58
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#6
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Trollsplatter
Join Date: Jun 2003
Location: North of Watford
Services: Humane elimination of all common Internet pests
Posts: 38,266
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Re: Don't spend money, use a card....
Quote:
Originally Posted by Pauls9
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On the one hand it's eye-boggling that someone can go to court and get off a debt because the credit card company didn't send him their terms and conditions, on the other hand if in the long term this serves to stop companies like MBNA mail-bombing people with 'pre-approved' credit card applications, it's a good thing.
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03-03-2011, 22:49
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#7
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Inactive
Join Date: Oct 2006
Location: Right here!
Posts: 22,315
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Re: Don't spend money, use a card....
Quote:
Originally Posted by Pauls9
No - it really can be free money. Get a card, max it out, ignore the lender when they ask you to repay, go to court, get the debt written off. Easy.
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I'm wondering if Gordon Brown was hoping for a similar outcome...... 
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