Keith Rich Posted July 1, 2010 Share Posted July 1, 2010 And how does she buy her gas / electric......? I am not saying this applies to everyone on council estates etc but it is very common. How do you know? Link to comment Share on other sites More sharing options...
alchresearch Posted July 1, 2010 Share Posted July 1, 2010 There is some logic to the OPs question. I know someone who pays monthly for his car insurance. The interest is something like 24.9%. I asked him why he didn't use a bank loan or credit card to pay for the car insurance, and he just shrugged his shoulders saying he didn't have time to bother with messing around like that. Link to comment Share on other sites More sharing options...
Cyclone Posted July 1, 2010 Share Posted July 1, 2010 Does this show that there are more low earners who are bad at budgeting than middle earners though? Link to comment Share on other sites More sharing options...
Amaranthus Posted July 1, 2010 Share Posted July 1, 2010 Where you changing from a credit meter already? If so one usually isn't carried out. It is when you have a pre-payment meter and want to get a credit meter that they generally do one or ask for a deposit. I think it is disgusting that pre-payment customers are penalised and have to pay more when they are paying on time! A credit meter may not be the best option for people on low incomes as if they haven't been making the regular payments the bill will hit them hard. That's what happened to me a few years back, when I first moved into my own home. I was young/ inexperienced and didn't realise how much gas I was using, until my quarterly bill arrived and I ended up owing hundreds of pounds... took me a very very long time to pay it all off. Link to comment Share on other sites More sharing options...
Harleyman Posted July 1, 2010 Share Posted July 1, 2010 Based on the profile that they live in council flats and have low paying jobs suggest that their education level is not very high. It requires a half decent educational background to be able to intelligently plan a budget and live by it. Link to comment Share on other sites More sharing options...
carly83 Posted July 1, 2010 Share Posted July 1, 2010 personally dont think its those that are extreamly poor that have the worst budgrting abilitys, its very hard to obtain credit if your on a low income forcing you to learn to manage otherwise you don't eat/have no heat etc. where as those that are more middle class have credit at there finger tips and so many run up several credit cards with high limits as well as unsecured loans, secured loans and a mortage thus having more debt than most of the poor, if someone like that living beyond there means was to lose there job they'd be screwed more so than the poor person who have had to budget to survive Link to comment Share on other sites More sharing options...
carly83 Posted July 1, 2010 Share Posted July 1, 2010 Based on the profile that they live in council flats and have low paying jobs suggest that their education level is not very high. It requires a half decent educational background to be able to intelligently plan a budget and live by it. theres just as many well educated people who are terrible with money than there are poor people. Link to comment Share on other sites More sharing options...
Harleyman Posted July 1, 2010 Share Posted July 1, 2010 theres just as many well educated people who are terrible with money than there are poor people. I was just generalizing on the fact that people of a lower education as a rule work in lower paying jobs and have a lesser idea of how finances should be handled I'm sure as you say that there are well off people who cant budget either Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.