Who's in debt and by how much?

[b0ydman]

if you don't owe more than half a million you don't know what worry is

 

[bulldogsfan]

if you don't owe more than half a million you don't know what worry is

yep for sure!

 

[Pilchard_Adams]

Nothing wrong with owing half a million if you can easily cover the repayments though.

500k loan would cost around $700 a week in repayments. Id say any single person taking home $1500 a week could cover that, or any couple earning $1900 between them.

 

[JoondalupJ]

I realise its a pretty direct and personal thread title, but if people don't want to be too specific I can understand, but i'd be very surprised if it was at least 1 in 10 people have debts of varying sizes, what caused this indulgence in debt, the banks must have known what was going on, just look at your balance sheets for gods sake, the slowdown in our economy will be huge, Rudd can throw as much money as he likes, the fact is there's not enough loose cash in the system, its all committed to loan repayments.

"What caused the indulgence in debt?" Thats an easy one . The Western world is set up by the wealthy to stay wealthy and they manipulate the price of life on the western worlds peoples. Generally people in this type of society have work and have some money. BUT the key point is they don,t have lots of money . Only the manipulators have that.

They got it by setting up an economical system where the value of things is set up by a very wealthy and a very small group of industrialists and economists and bought politicians .
They are the ones that make you pay off a house over 20 or 25 or 30 years because you (and I mean the majority in fact nearly everyone) cannot buy a house to live in, out of your back pocket.

Actually the majority can,t buy a new car out of their back pocket. Its the way the system works and has been that way from the beginning of the industrial revolution.

And whatever smart educated accountant comes up with, in todays modern world, to answer questions like this, means really nothing . Its as simple as that.

We are all in debt and unless we are very smart or very wealthy we will be in debt until we are dead.
This is how capitalism works .
You can have just about anything you want if you have a credit rating , and you will pay for it through the nose forever.
Welcome to the world of keeping up and get get get, new car , new tv new house new whatever , you can have it all, in relative degrees , but no one can afford it , its the never never and its how we all think we,re so lucky and we have everything, we don,t, we rent our lives, but its better than starving in some third world country, who haven,t got there yet .
But the overlords of commerce and finance are working on that one , don,t worry.

 

[JoondalupJ]

It is essential for doing business online.

Web servers, software, other services. My card has a small-ish limit but it gets hammered so I usually pay it off every week or two. A useful, free line of credit for expenses.

The problem comes when my cash flow is slower and it goes over the interest-free period. No biggie really, only a few bucks in interest a few times a year.

The problem for credit cards is the majority can,t pay it off every week or fortnight or month.
Essential for business???
That is once again the manipulators of the "free world" they invented the credit card to rip the guts out of the uninformed or the ignorant , who see cards as a liscence to buy buy buy.
Most, in fact probably 80 % of credit card holders max them out and owe fortunes , happens everyday.
Better off having a small credit allowance and trying to keep up with it .
But you never will, you can, though, keep it as a non life threatening reasonable debt pattern, and re use it as you go.
Of course you are already caught in the web anyhow, so just live with it , everyone else does.
I suspect most of us have been dragged back in, as Don Corleone says.

Unless your lucky and the company pays the bill. Very rare that. Now how are we all since 2008.

 

[Chief]

The problem for credit cards is the majority can,t pay it off every week or fortnight or month.
Essential for business???
That is once again the manipulators of the "free world"...

It got all TLDR there.

 

[Scotland]

Most, in fact probably 80 % of credit card holders max them out and owe fortunes , happens everyday.

This is completely made up, isn't it?

Also, 'maxing out' a credit card is not an issue if you cover the monthly repayments. Plenty of people rack up thousands each month on their credit card(s) then use their wage to pay it off. Much better racking up $5,000 worth of debt you can easily cover than $1,000 you cannot.

 

[JoondalupJ]

This is completely made up, isn't it?

Also, 'maxing out' a credit card is not an issue if you cover the monthly repayments. Plenty of people rack up thousands each month on their credit card(s) then use their wage to pay it off. Much better racking up $5,000 worth of debt you can easily cover than $1,000 you cannot.

Isn,t that the whole point .
Most people can,t make the payment, thats what happens its how lenders make money by the millions of people who always have that bit extra they can,t pay. The banks love it.
If there was no body like that, the banks wouldn,t make money, so they wouldn,t offer credit cards full stop.
Thats what its about .

 

[Scotland]

Yeah, I get how credit card works.

What I'm disputing is your claim that the majority of people (80% in fact) are essentially slaves stuck in an endless credit trap.

 

[JoondalupJ]

Yeah, I get how credit card works.

What I'm disputing is your claim that the majority of people (80% in fact) are essentially slaves stuck in an endless credit trap.

Your entitled to your opinion. I,d disagree though. Maybe people with good or reasonable paying jobs and no resposibilities are quite capable of paying off a credit card each month.

But think about this. If people have the income to pay anything off whenever, then why bother having credit cards at all when you,ve got debit cards that act the same way.
Well the reason why is this. The banks make billions out of credit cards and lending of funds in all the different ways they have available . So beleive me I,d say for sure that 80% is not an over exaggerated figure. Most people live on the never never , because of something I said before , that is that only a tiny minority could buy a house or a car or even a fridge out of their back pocket in cash.

Why do you reckon finance companies (with the banks as the parent company) have all these interest free offers ? The answer is: They study and do investigations into the financial habits of Joe Public and know that most will still have debt when the interest free thing is finished . Then begins the gradual capturing of the poor customer in a cycle of pay a bit and get hit , with more interest.
Its a rackett but its legal , its capitalism . Its loan sharking in disguise.

Its proof that the value of everything is manipulated, to keep the rich very rich and the rest of us just able enough to pay and pay and pay. It makes the world go round. I think?
Who the hell sets the prices when we know the world banks have their own little system of wild guessing to set international interest rates for themselves. Open eyes.

 

[bunsen burner]

Maybe people with good or reasonable paying jobs and no resposibilities are quite capable of paying off a credit card each month.

Yep. Lots of people use them for convenience and do not have a problem paying them off every month.

ut think about this. If people have the income to pay anything off whenever, then why bother having credit cards at all when you,ve got debit cards that act the same way.

To gain a good credit rating.

You're starting to sound like a dumb arse.

Well the reason why is this. The banks make billions out of credit cards and lending of funds in all the different ways they have available . So beleive me I,d say for sure that 80% is not an over exaggerated figure. Most people live on the never never , because of something I said before , that is that only a tiny minority could buy a house or a car or even a fridge out of their back pocket in cash.

I would suggest 80% is way high.

Why do you reckon finance companies (with the banks as the parent company) have all these interest free offers ? The answer is: They study and do investigations into the financial habits of Joe Public and know that most will still have debt when the interest free thing is finished . Then begins the gradual capturing of the poor customer in a cycle of pay a bit and get hit , with more interest.

Thanks Capm Obvious.

Its proof that the value of everything is manipulated, to keep the rich very rich and the rest of us just able enough to pay and pay and pay.

With this type of mentality it's no wonder you are poor and until you change it you will still be poor.

It makes the world go round. I think?
Who the hell sets the prices when we know the world banks have their own little system of wild guessing to set international interest rates for themselves. Open eyes.

Given you are "tardy" and seem to be mentally challenged let me give you a tip to do whatever you want with:

Australia is a rich country. We have an excellent standard of living. Amongst the very best in the world. We have low employment. Even people with trades can make very good money. Even if you're a dumb arse you can still earn $150k+ in the mining industry. Whilst the cost of housing is high, we also have excellent incentive plans such as super and negative gearing for property and shares. EVERYONE IS PROVIDED A GOLDEN OPPORTUNITY SITTING ON A PLATE RIGHT IN FRONT OF THEM.

Rather than whine and resent, perhaps you should get busy and take your opportunity?

 

[Scotland]

Your entitled to your opinion. I,d disagree though.

You've gone and made bunsen burner angry now.

 

[JoondalupJ]

Yep. Lots of people use them for convenience and do not have a problem paying them off every month.


To gain a good credit rating.

You're starting to sound like a dumb arse.

I would suggest 80% is way high.

Thanks Capm Obvious.


With this type of mentality it's no wonder you are poor and until you change it you will still be poor.


Given you are "tardy" and seem to be mentally challenged let me give you a tip to do whatever you want with:

Australia is a rich country. We have an excellent standard of living. Amongst the very best in the world. We have low employment. Even people with trades can make very good money. Even if you're a dumb arse you can still earn $150k+ in the mining industry. Whilst the cost of housing is high, we also have excellent incentive plans such as super and negative gearing for property and shares. EVERYONE IS PROVIDED A GOLDEN OPPORTUNITY SITTING ON A PLATE RIGHT IN FRONT OF THEM.

Rather than whine and resent, perhaps you should get busy and take your opportunity?

You are a rude ignorant fool . And have no commonsense or knowledge of the real world that faces most people outside of your crumby little inner world of beleif.
You insult me, go for it , but I,m having a conversation and your having a kick in the head commentry.

Makes you either a joker who doesn,t mean what you say and is having fun , or your a fool who doesn,t know what they are talking about and live in a small insular and maybe luxurious little monied world of your own.Wonder where it came from all this success and brilliance , get it ? or given?
Your one of those that only sees their own situation and thinks the whole world is the same as you.
In other words your a blind dope.

Even a tradesman can make MONEY!!, well OF COURSE, YOU DOPE, but WHY ARE TRADESMEN AN EXAMPLE WITH THE WORD "EVEN" used to make a point , what are tradesmen stupid or something . Just that sentence showed you for the twit you seem to be , besides ignorance and rudeness and senseless comments you a snob as well.

The mining industry??????????? not everyone on the planet can jump into the mining industry. Some people don,t have the oportunity or they may be responsible for other things like a family or not having the ability to drive big machinery or maybe they are not tradesmen , maybe theres a multitude of reasons thay stay home ( your reason they stay will be that everyones a lazy mongrel and won,t do anything , but thats you and your vision is only your vision. see.))

You,ve catogorised every one you disagree with. You have a tunnel vision in your own mind about what everyone should be, and that is like you, but they aren,t, thank christ!

I,m tardy am I? what a rotton rude mongrel you,d be, to say something so damned nasty. Also people making money in the mining industry are dumb arses are they , smart comment from a dumb arse.

Every one is provided a golden oportunity are they? Well I must have been because I,ve done alright for my family and I,ve worked damned hard too, as has my wife, I,ve brought 4 kids into this world and no twerp like you can ever make me consider myself any less than you, in fact I,m not sure what I think of you, your rather unbeleivable. Maybe you are a nothing.

Lots of people can,t get by for a million reasons , generalisers like you do not have the nous to see anything, but your own blind tunnell visioned views of the world.

What a pity , you could have made a point without being a bleeding top notched socially high, successful wealthy, monied, in crowd pig .
But now you have me being as low and lousy a name calling mug, just like you. Makes you look even worse.
I,m not poor , probably not super successful like you you marvelous high quality individual , wowie .

Any how, you are wrong , thats the easiest way to put it and out of line and actually very nasty .
So that makes you a highly succesful rat bag.
What I have been talking about might have bitten you a bit hey??? Its true and logical for millions of people , obviously not you because your so magnificently capable.
Or maybe thats it? You aren,t as smart arsed as you think , your in strife , ha ha . The world is a hard place I,ve been and seen and experienced most of my life. You could be on your way down , you got children a family a wife a business, an investment , maybe , maybe not?

What ever you have or don,t have. You don,t have any right to be so rotten like you sound , to me.

 

[bunsen burner]

You are a rude ignorant fool .

Rude, to plebs like you, sure. Ignorant, no way.

And have no commonsense or knowledge of the real world that faces most people outside of your crumby little inner world of beleif.

I'm quite worldy to be honest. I'm a million miles away from being in a Melissa Doyle type cocccon.

Makes you either a joker who doesn,t mean what you say and is having fun , or your a fool who doesn,t know what they are talking about and live in a small insular and maybe luxurious little monied world of your own.

I'm not trolling. I'm completely serious. You're just wrong about the insular bit.

The truth is that we have a very easy SOL and opportunities to make it. Inevitably a portion of society are not strong enough to take it and make it.

If you're in this group you can't blame me. I grew up around elitism and it makes sick. I'm not an elitist. I'm fair and rounded. Some people are not going to make it. That's life. What more can we do as a society apart from provide social security and janitorial careers?

Wonder where it came from all this success and brilliance , get it ? or given?

Not sure why you think this but I am acutely aware that others are less fortunate than me. I was lucky to be born with an intelligent brain, had good schooling, and grew up in a successful environment where success is assumed. I'm under no illusion that this goes a long towards my current predicament and that a person living in Mt Druitt with unemployed parents has little to know chance.

But them's the breaks and I can't feel indebted or guilty towards these people. It's harder for them but plenty do over come their barriers and make it.

And just so you know - life for me has been easier but has been no cake walk either. No rich parents, no handouts, no leg ups, no school tie, I just had a good environment to grow up in and am lucky to not only have a reasonable IQ but I have ticker.

I've done some jobs that I reckon you wouldn't have the ticker to do.

Your one of those that only sees their own situation and thinks the whole world is the same as you.
In other words your a blind dope.

yep, wrong. So far from the truth.

Even a tradesman can make MONEY!!, well OF COURSE, YOU DOPE, but WHY ARE TRADESMEN AN EXAMPLE WITH THE WORD "EVEN" used to make a point , what are tradesmen stupid or something . Just that sentence showed you for the twit you seem to be , besides ignorance and rudeness and senseless comments you a snob as well.

Tradies can make $150k easily. Good money and you don't need to be all that smart.

point: our country is a cake walk and anyone has the opportunity to make their way.

The mining industry??????????? not everyone on the planet can jump into the mining industry. Some people don,t have the oportunity or they may be responsible for other things like a family or not having the ability to drive big machinery or maybe they are not tradesmen , maybe theres a multitude of reasons thay stay home ( your reason they stay will be that everyones a lazy mongrel and won,t do anything , but thats you and your vision is only your vision. see.))

Maybe you're just dirty that you didn't do a trade? Or work on the mines for a few years?

You have had the opportunity like everyone else but it seems you are blaming everyone else for your predicament. I assume you are what I call "working class poor". You made this choice. Accept it. Tough, but fair.

You,ve catogorised every one you disagree with. You have a tunnel vision in your own mind about what everyone should be, and that is like you, but they aren,t, thank christ!

Blah blah blah it's everyone else's fault but mine!

Wake up to yourself and take some repsonsibility.

Every one is provided a golden oportunity are they?

Some more then others, but yes. Maybe you should move to India and get yourself some perspective whilst you are there?

Well I must have been because I,ve done alright for my family and I,ve worked damned hard too, as has my wife, I,ve brought 4 kids into this world and no twerp like you can ever make me consider myself any less than you, in fact I,m not sure what I think of you, your rather unbeleivable.

So you've done alright for yourself? So why the chip on the shoulder?

Maybe you are a nothing.

Maybe. It is the internet afterall. I could be lying. My name might not be bunsen burner, it may be Guido Hatzis.

What a pity , you could have made a point without being a bleeding top notched socially high, successful wealthy, monied, in crowd pig .

Woah. I'm none of these. I walked away from high society because it's full of shallow elitist knobs. I wouldn't call myself wealthy yet either. I'm not flying around the world on a whim. In crowd? Nowhere near. Not my cup of tea.

I'm just a guy who respects the easy life we have in Australia and the opportunities we have given to us on a plate.

Any how, you are wrong , thats the easiest way to put it and out of line and actually very nasty .

Pretty sure I'm right.

So that makes you a highly succesful rat bag.
What I have been talking about might have bitten you a bit hey??? Its true and logical for millions of people , obviously not you because your so magnificently capable.
Or maybe thats it? You aren,t as smart arsed as you think , your in strife , ha ha . The world is a hard place I,ve been and seen and experienced most of my life. You could be on your way down , you got children a family a wife a business, an investment , maybe , maybe not?

What ever you have or don,t have. You don,t have any right to be so rotten like you sound , to me.

Yeah yeah, cry me a river.