Falling into debt to be like the cover girls

[AB Asks]

Millions are trying to live like the celebrities and are ending up in debt because of it. We are apparently spending more than we are earning and end up with nothing in our banks at the end of the month. It not only spends on non-essential items that are stretching our wages but it is the ever increasing energy bill costs and mortgage repayments. What do you think? Is living more expensive than it used to be? Or are we obsessed with living celebrity-style lives?

[andy-hughes]

The notion that we run into debt to ape the styles of WAGS an models is frankly laughable.

Britain has spiralling debt because we are an avaricious nation with nasty small-minded materialistic attitudes and a willingness to spend on fripperies instead of essentials.

Add to that the ludicrous largesse of financial institutions who are willing to lend vast sums to individuals whom they know cannot hope to pay back their loans or mortgages, and it's only now that they are being made to be more responsible.

I am advised I have one of the best credit ratings my bank has ever seen, and I used to climb over an avalanche of credit card applications to get through my front door every evening - they have suddenly stopped. Wonder why?

Greed and stupidity from us, greed and stupidity from our bankers - that's the reason why we have spiralling debt.

I would bet that every financial manager has a bonus scheme based on the amount of loans he can secure. Give someone a financial incentive like that, and you have trouble.

WAGS and models? Irrelavent - as usual.