Editor's Blog5 mins ago
Money these days?
23 Answers
When I was a slip of a lass and started work, I got £4.9.11d in my wage packet. I gave that to my mum and she gave me back £2. I had to make that work for me. Nowadays, all wages/salaries are paid straight into bank, bills are paid by DD, and things can be bought by 'chip'. Does anyone else feel that this lack of contact with 'real money' has contributed to peoples' debt?
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IMO it's the availability of so much credit which has led to the debt. I remember many many years ago getting my first credit card - woohoo! - free reign to get what I wanted, now, and worrying about paying for it later.
Personally, I'm better off without cash in my hand - have cash, will spend, I wouldn't want to be paid in cash - but then I've always been paid into the bank, right from when I started work in 1968....
Personally, I'm better off without cash in my hand - have cash, will spend, I wouldn't want to be paid in cash - but then I've always been paid into the bank, right from when I started work in 1968....
Can't say I ever had a problem with credit cards since I only rarely bought something I didn't intend to pay off at the end of the month. But the original card was cancelled when Barclays though it a great idea to try charging me annually for it, so I told them what they could do with their card. And the replacement one was not renewed the moment the company thought it hugely amusing to deny a payment, apparently due to the the company that took over introducing some new rule that I had to register a replacement card: so I told them what they could do with theirs too since I wasn't going to have some faceless jokers embarrass me in the shops. Have to say I've got along very well without one, although I'm not overly keen on having to use a debit card for Net purchases.
I guess lack of contact with notes & coins might prevent a good understanding of what each is worth and how one needs to weight up the true value/cost of what one is contemplating purchasing. But that said seeing the bills mount up ought to help provide some context for most. An initial drop into unplanned debt while young ought to serve as a lesson to avoid it in the future.
I guess lack of contact with notes & coins might prevent a good understanding of what each is worth and how one needs to weight up the true value/cost of what one is contemplating purchasing. But that said seeing the bills mount up ought to help provide some context for most. An initial drop into unplanned debt while young ought to serve as a lesson to avoid it in the future.
boxtops I started work just before you in 1966. I got £8 a week after tax. No credit cards so you had to save up if you wanted to do something. I had a 1s 6d salad each day and saved up to go on holiday for a week in Majorca with my friend. Nowadays nobody saves up to do anything. It is live now pay later. It is all too easy now to spend. So yes, not seeing the real money does add to getting into debt. Instead of cards offering you credit they are really offering you debt, and lots of it.
