BLAME US FOR DEBT HORROR
A million people are paying mortgages on credit cards every month at crippling interest rates.
No wonder the level of repossessions is rising alarmingly.
Who's to blame? We can accuse the lenders who tempt us at every turn with great deals and offers accompanied by tempting images of gleaming cars and trendy apartments with great views.
But sometimes people have to accept their own responsibility.
We have become a society that demands everything NOW - and forget the consequences.
Too many no longer expect to have to save to buy a home, car or holiday.
And there's no shortage of money lenders out there to satisfy us.
There used to be a time all young couples scrimped and saved to find a deposit on their first home.
Three times income was always the maximum, but today you can get five or six times your salary. And they'll help you borrow the deposit.
To own a house, a little run-around, a television or hi-fi system used to be something special. You had to work hard to get it and there was a real sense of achievement.
When I bought my first car for £500 I couldn't take my eyes off it parked outside. I was a proud as Punch.
Today, a lot of people expect to have everything and with Christmas looming, too many will spend way beyond their means. They'll live for the big day and worry about the credit card bill later.
Some kids get game consoles, designer clothes and new bikes because their parents have access to funds. That doesn't mean they can afford it. But the dark clouds of debt don't go away.
And those lenders who freely dish out the dosh will be just as quick to send a stroppy letter or knock on your door when you're struggling to meet the repayments.
One of the biggest deterrents I came across this week was the sobering thought that, no matter what we earn, many of us are just two monthly pay packets away from bankruptcy.
So think on that before you start the Christmas shopping.
Source: people.co.uk
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