As far as I see it, the existence of non-mortgage related debt (apart from student loans of course) is simply the result of our spending beyond our means.

I saw my Gran last weekend who couldn't help but harp on about how things were tougher in the "old" days and one's subsistence was basic. Whilst I was tempted to write her off, maybe she had a point. We've grown accustomed to many of the finer things in life and "luxury" goods, but can we really afford them?

Chris

I agree with you -its an instant gratification culture we live in where people have to have everything now.

No one has the pateince to wait and save for something worthwhile. Neither do they seem to consider whether it is a want or a need.

I think we could all get by with less expensive "stuff" if we just decided not to "keep up wiht the Jones"

Having watched a couple of friends go £20k+ (each) into debit due to their spending habits over the last couple of years has made me never want to get a loan.

The problem lies with people's love of material items and the fact that they can have them straight away - just fill in a form and here's the money.

I Feel uncomfortuable about the credit status in this country I and my partner have 3 children I earn 16k a yr rent with Housing Association.
Because of the above I can not get a morgage so I can therefore only get a Capital One Credit Card @29.9% apr I can not borrow money because I am Unsecured.
I am therefore in the eyes of the financial World A FOURTH CLASS Citizen and for that I must pay for it irrespective of my credit rating.My poor Children. let me work 90hours a week give me a morgage and I can save myself thousands not to mention earning more out of my morgage than I can working is THIS FAIR???? All because I do not have a morgage

The fact that the changing society in synonomous with rising costs goes without question.

If you want to buy a car, it is highly unlikely the average person can afford to buy a car cash. You generally have to use finance to purchase one. That straight away will put you into £4000-£15000 in debt.

The nature of products compared to wages dictates we need to go into debt to purchase what we want and need. I currently have outstanding debt of around £9000, but I am comfortable with that, as my wage is more than enough to cover the monthly repayments, but it is not enough to purchase my car outright.

Debt is just an advance of money you will have.

Its way too easy to get a card and spend it on what you want know rather than save the cash. I learnt the hard way. Now the only debt i have is the mortgage 107K (house worth 170) and 500 on my barclaycard. If we want something we now save for it - its much more gratifying and rewarding. i'm sure that many people now longer share this view.

I think it was a clever ploy by the Government at the time, (Tories I think) buy your own house! was the cry. Then the plastic credit, and what have you got. The working population under control. I don't see many strikes these days.

There is nothing wrong with wanting a nice car, but why not by a cheap one (£500) and then save up, when you have enough to buy a "nice" one then you can, the fact that you want a nice car now does not mean that you should get one.

I have owned a £300 car for several years now without any issues, so do give me that rubbish about running cost and repairs. Buy what you can afford without going into debt - it might not be what you want, but hey that's life.

as for the comment "Debt is just an advance of money you will have". What if you can't work for some reason, you gel ill, made redundant, debt is a gamble - hoping you will be able to make that money in the future.

I've owned a £300 13 year-old car for the last two years. I'm also comfortably off as somebody who works as a freelancer in the IT industry. I could pay for something more flashy, but can't see the point.

Because I live frugally, I've been able to spend 3 winters over the last 4 years snowboarding for 4 months each winter. That to me is worth far more on a quality of life level than obtaining material possessions and buying into mass-marketing campaigns.

Unfortunately, I get the impression that life for too many people in the UK is all about keeping up with the Jones's, and obtaining material goods that they neither need nor can afford. I sympathise with people on low incomes with kids, but I don't possess much sympathy for the type of person who buys a brand new car on credit and then sneers at the likes of me driving past in my 13 year old 106. If that's what it takes to make you feel better about yourself then so be it, but that car loan has a price to be paid in terms of interest.

We are starting to shift towards a climate of a higher base rate to substain low inflation. That's going to reward savers and nail those in debt. The only way to get through this is to only spend what you can afford. I'm a firm believer in personal responsibility; you reap what you sow.

End of rant.

We couldn't keep up with the Jones' - everyone in our road had nice MPVs, 4x4s (an average London suburb) and we had a 10 year old Honda Civic.

We have opted to live in rural France because people are less obsessed with what you drive, where you holiday, what you are wearing, what your kids are wearing - and guess what, most of the parents at the local French school only have one wage here but life is much more laid-back. (They're more interested in your home-grown veg than your Gucci shoes!)

We too were struggling with the rising cost of living, and looking after our 4 children. We couldn't spend any less, as we'd cut our expenses to the bone. We knew the answer was to earn more, but couldn't possibly work anymore hours in the jobs were we in. We were earning peanuts, and out of the house for hours as it was. We looked around for an opportunity that could work around our current commitments, be flexible enough to be picked up and put down as necessary with the kids, and most importantly, be started on a shoe string. We found what we were looking for, and now run our own business, and are starting to "own our life". It was hard work to fit everything in to start it, but it started to pay off big time within 6 months, with us earning an extra £1,000+ plus per month - which was just such a Godsend. We can show anyone with a decent work ethic how to earn this type of money every month too (much more is available if you have work ethic and are ambitious). Leave your details on 0800 083 9612, or on our web-site, www.potentialz.co.uk and we will call you back and explain how this could work for you. This is not a scam, not a pyramid scheme, not a get rich quick scheme, and not for the work-shy. This could be your light at the end of the tunnel. It's no good relying on the government to look after you, as they really don't care - you have to start helping yourself.

The 'problem' stems from the minute your leave school. You go onto university, and at the end of 3 years, you're likely to be in £15-£20k debt, boom, just like that. Yet no-one bats an eyelid. They all encourage you - go on, get a degree, you'll be able to pay it back once you land that big job. Trouble is, many end up in a job that they didn't even need a degree for! But where's the money?

Fast forward a couple of years... you slip in bit by bit, then 'before you know it' in addition to the £15k student loan, you've also built up a little credit card and unsecured loan aswell!! Perhaps £5-10k. But (just like when we put on a little bit of weight), it becomes increasingly dfficult to shift.

Illness, redundancy, accident, pregnancy - these can strike at any time. Do not ever think 'it won't happen to me' - it could, then what?

Problem today - we're living in a 'buy today, pay next year' (or never) mentality... although interest rates have been at 40 year lows, we're hitting a turning point, because all people do is shift balances, there is no 'real' or 'new' money in circulation, and bit by bit, you mark my words - you'll start reading more and more about the numbers of IVA's and bankruptcies there are.

There are LOADS of people in this boat. Worringly, sometimes people aren't just spending on 'luxuries' I actually believe credit cards have become a way of life, and for some, they actually RELY on it to live! To buy food etc., Pull that rug out from under their feet, and we'll soon see the house come tumbling down.

Read more at www.yurbroke.co.uk

The celebrity culture and lifestyle in this country has a lot to answer for. We see these highly paid stars flaunting money and possesions and im afraid we all follow there lead and borrow the money to copy them.
My parents struggled for years to bring me and my 2 siblings up through pretty naff times in the eighties and never really had anything of any value because there wasn't the money, or as nowadays, the easy credit to go and borrow. You wanted a loan you had to beg the bank manager and prove how you could pay it back.
We have all been fooled into believing that we should no longer have to live like that, but the fact remains, not everyone can live like a celebrity.
Save your money and buy what you want. Trust me, it is far more satisfying!!!

i am 23 and currently in full time employment. My wage is not that great and i am trying to enrol on an evening course to get better qualifications but all the courses that are of any substance require you to attend full time or during the day. I cannot do this as i live in rented accomodation with my boyfriend and would not be able to manage. when i was 18 i got myself into debt by purchasing a car on finance (£6,000) i also had numerous mail order catalogues and my spending was getting out of hand. I simply couldn't afford to live and repay my debt. I have evntually cleared all my debt and would never buy anything on credit again. It is a vicious circle, you pay your repayments but then need to go into your overdraft to live. If i want to buy something now i save up for it. Yes it takes me longer to purchase something, but at the end of the day i don't have sleepless nights with worring about money and i am ultimately happier.

The problem is that not everyone has the luxury of being able to save. After a redundancy we found ourselves in financial difficulty. I could not get any benefits due to the fact the I'd only been 'employed' for just over a year prior to which I'd been self employed and even though I'd paid NI and tax as a self employed person this didn't count! For a few months we HAD to resort to sustaining ourselves on credit just to pay the BASIC bills! I do not like being in this position but it was either that or end up on the streets. What would you do?