Household saving is down

[diamond lil]

Maybe this is why so many younger folk are deep in debt? They take on phones and pay forever, just changing the model when a new one comes out. Then they get older and do the same with cars and bikes, paying forever and never owning anything. I've done it with houses but only because we were never in a position to pay a mortgage for 25 years, I wouldn't do it for anything else.
I think Brexit is bound to have some sort of effect on us, food and elect or gas prices will be the start. I think America & Russia are getting further into deadly enemy territory again and that might hit gas supplies in Europe which would hit us.

[Plymtom]

You're all like me thinking along similar lines I like Deeps's

In all honesty its probably because we're a wee bit nuts but the law of probabilities suggests we'll be right sooner or later.

What's normal eh?

I don't have a specific chain of events in mind either, I see contradictions and horseshit in what we are being sold as solutions to our problems as a nation, indeed globally, whilst I may agree that the Trump camp have the gun issue right ( though the right wingers make me wince especially the very religious ones) on so much else he's so far off from common sense that he may as well put on a Gollum voice and say " not listening, not listening" to the concerns on so many issues that'll see the water's rise around the base of Trump tower before the pratt get's it. Such is life today that even here we see more capable Americans in terms of understanding the issues the world face. As for our own ruling regime? Well you could laugh at it if you were living elsewhere couldn't you? As an old workmate of one once said "it's funny when you look at the world and wonder how we have made it this far, just look at the roads, how many idiots (we all make errors and think phew that was lucky) and how relatively few accidents, it's a wonder ow so many of us get through every day unscathed". And that is where I hope we are, when we look back at this decade and think phew, that was close!

[jansman]

I had an e mail from Bullion by post yesterday.I don't seem to be able to post it,but...they are saying the same as us,and today Mark Carney is.

[grenfell]

Make of this what you will , it's a post on another non prepping related forum I use. While I can't fault the exact details and benefits if one stays in control and pay back each month but I still can't really get my head around the concept of borrowing as a rule.

In my opinion you are a bit silly to not have a credit card. You can get such good rewards even on the fee free ones (no monthly charge or yearly charge) then as long as you pay in full every month you get lots of great stuff. I like the reward flights the American Express offers meaning every year I go on holiday I get a nice free upgrade or a free flight in full if I have saved enough.

The thread continued,

how about no credit card and live within your financial limit!.just saying

And his response,

You need credit cards to build a good credit rating. Having a credit card does not mean you are not in your financial limit I have a credit card to earn bonus's and get a superb credit rating and pay in full every month meaning there is no interest. This is what most smart financial savvy people do.

Oh and I forgot to add the protection credit cards offer against problems which is another great reason.

Different mindset I think , I was always brought up with the thinking that "if you haven't got the money , go without until you have".
I made reference to the above in the cashless society thread .

[diamond lil]

I see the same kind of thing in forums grenfell. Somebody once told me I was sadly deluded because I prefer to pay my elect quarterly when the bill comes in, rather than a DD that carries on forever and gives them the right to take as much as they like for as long as they want
That same forum, I remember, was full of wee smartarses bragging about "my money is all in Iceland" .... and maybe it still is lol

[jansman]

I see the same kind of thing in forums grenfell. Somebody once told me I was sadly deluded because I prefer to pay my elect quarterly when the bill comes in, rather than a DD that carries on forever and gives them the right to take as much as they like for as long as they want
That same forum, I remember, was full of wee smartarses bragging about "my money is all in Iceland" .... and maybe it still is lol

Well...We still pay quarterly.We refuse point blank to have someone else decide what comes out of our bank.Sure,we pay a little more( but it ain't that much),but we are in control.

Our youngest girl deals in cash for everything.She told me that if she has to use her debit card she has overspent. Takes after mum and dad! Best is,she's saving for a house in the old fashioned way,and is doing great!

Neither of the girls borrow money ( although young one will have a mortgage in the end) as we have always instilled into them that UNNECESSARY debt ( that is for useless shiny shite) means you become a slave to your debt.

I suppose my judgement is coloured by the fact that my parents and my brother were and are always in debt.Lord knows how we have bailed them out down the years - and every one of them has earned far more than us!
When folks start bleating that they cannot repay their debt,that its the fault of the lender blah blah.they need to have a word with themselves.

If you use debt ( I won't say borrowing) then be sure you can repay it.It has its place,and folks need to know that place. Right now,seeing as how we could be looking at another financial ' situation' folks need to get a grip!

[Brambles]

^^ like!

[Plymtom]

Savy people who pay every month, get all the bonuses, and pay no interest, are not the customers who pay for the bonuses, the old adage of only having the debt if you don't really need it Credit is useful yes but it's a mug's game, if it weren't then these companies would not function, nor make millions out of bugger all. It's a trap, it works, so only use it if you can afford not to

[diamond lil]

Lot of really savvy people in this forum

[ukpreppergrrl]

Make of this what you will , it's a post on another non prepping related forum I use. While I can't fault the exact details and benefits if one stays in control and pay back each month but I still can't really get my head around the concept of borrowing as a rule.

In my opinion you are a bit silly to not have a credit card. You can get such good rewards even on the fee free ones (no monthly charge or yearly charge) then as long as you pay in full every month you get lots of great stuff. I like the reward flights the American Express offers meaning every year I go on holiday I get a nice free upgrade or a free flight in full if I have saved enough.

The thread continued,

how about no credit card and live within your financial limit!.just saying

And his response,

You need credit cards to build a good credit rating. Having a credit card does not mean you are not in your financial limit I have a credit card to earn bonus's and get a superb credit rating and pay in full every month meaning there is no interest. This is what most smart financial savvy people do.

Oh and I forgot to add the protection credit cards offer against problems which is another great reason.

Different mindset I think , I was always brought up with the thinking that "if you haven't got the money , go without until you have".
I made reference to the above in the cashless society thread .

I think I get what they're saying. There are reasons to have a credit card, and to use it, that have nothing to do with spending money you don't have - i.e. borrowing money and getting into debt. Yes that's what the banks want you to do because that's the way they make money off you, but that's not necessarily the reason you may have a credit card. I too was brought up with the concept of cutting your cloth to match your income, yet I have a credit card. However I don't use it to borrow money and buy stuff I can't afford, I use it as a convenient method of payment with added benefits. Like it or not having a good credit rating can be important. It is certainly important if you ever have to apply for any sort of credit - e.g. apply for a mortgage. Not many people can save up the required amount of money in ready cash before buying a house. It's also important if you have security checks done for whatever reason: job application, renting agreement etc.. A lack of a credit rating is viewed almost as suspiciously as a bad credit rating because you are an unknown quantity. One easy way to get a good credit rating is to have a credit card and make the full payments at the end of each month. The other reason mentioned is insurance. Purchasing something on a credit card means that those goods are insured should something go wrong which isn't the case if you write a cheque or pay with a debit card. Just because you use a credit card doesn't mean you intend to live beyond your means, and it can have other benefits too. However, if you're concerned that you will be tempted to just "stick it on the card" and worry about how you're going to pay for it later, then you definitely shouldn't get a credit card.