Zanteblue Posted October 5, 2011 Share Posted October 5, 2011 David Cameron is to tell the country to pay off credit cards to help the economy recover. At a time when we are all being squeezed from every angle , Gas ,Electric companys taking the mick with price hikes , motorists being ripped off at the petrol pump on a daily basis , daily living costs going through the roof ,all on top of the very helpful hike in VAT to 20% , then here we have Dave telling us to somehow magic yet more cash out of thin air to pay off our credit card balances. :loopy: With most people suffering in the knowledge they wont get a pay rise for the fore seeable future, redundencies galore , yet Dave STILL thinks we can all pop upstairs and pull a box full of reddies from under the matress and clear our credit cards . Yeah , good one Dave. Please tell us what planet you are living on. http://www.telegraph.co.uk/news/politics/conservative/8807498/Conservative-Party-Conference-2011-pay-off-credit-cards-for-the-sake-of-the-economy-says-David-Cameron.html Link to comment Share on other sites More sharing options...
e5c4p3 Posted October 5, 2011 Share Posted October 5, 2011 People could use their redundancy money to do it. Idiot. Link to comment Share on other sites More sharing options...
speedbirdone Posted October 5, 2011 Share Posted October 5, 2011 Unless your still in an intrest free period on your credit card paying the balance off if you can isnt such a bad idea. Link to comment Share on other sites More sharing options...
poppet2 Posted October 5, 2011 Share Posted October 5, 2011 I'm sure most families will seriously consider this whilst tucking into their lobsters this evening, contemplating whether to eat one or two or pay off their credit cards. Thanks for the advice Dave, by the way I note you didn't state, don't use your credit card! Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 5, 2011 Share Posted October 5, 2011 On a personal finance level it's good advice from the PM for a change. People should be paying down as much debt as possible now while interest rates are low. the problem is with people forcing austerity on themselves as well as the government it's bad advice on a macro level. It will damage the country more than help it. Hence I am now finally convinced the economic credibility of the Tories is just about on a level with Labour. No safe pair of hands to take us through this now. of course what he really means is please help the banks. Link to comment Share on other sites More sharing options...
MrSmith Posted October 5, 2011 Share Posted October 5, 2011 David Cameron is to tell the country to pay off credit cards to help the economy recover. At a time when we are all being squeezed from every angle , Gas ,Electric companys taking the mick with price hikes , motorists being ripped off at the petrol pump on a daily basis , daily living costs going through the roof ,all on top of the very helpful hike in VAT to 20% , then here we have Dave telling us to somehow magic yet more cash out of thin air to pay off our credit card balances. :loopy: With most people suffering in the knowledge they wont get a pay rise for the fore seeable future, redundencies galore , yet Dave STILL thinks we can all pop upstairs and pull a box full of reddies from under the matress and clear our credit cards . Yeah , good one Dave. Please tell us what planet you are living on. http://www.telegraph.co.uk/news/politics/conservative/8807498/Conservative-Party-Conference-2011-pay-off-credit-cards-for-the-sake-of-the-economy-says-David-Cameron.html A credit card balance that you don’t intend to pay off is giving the bankers more profit. By doing without until the card is paid off you will suffer short term but in the long run you will be better off and will be giving less of your money to the very people most people now despise (bankers). Link to comment Share on other sites More sharing options...
poppet2 Posted October 5, 2011 Share Posted October 5, 2011 On a personal finance level it's good advice from the PM for a change. People should be paying down as much debt as possible now while interest rates are low. But where will they get this extra money after having suffered a pay freeze, increased inflation, fuel costs, and most people will dread the cost of utility bills this winter. Let’s conjure up some money, better still, let’s all go and print some, like the bank of England. Link to comment Share on other sites More sharing options...
speedbirdone Posted October 5, 2011 Share Posted October 5, 2011 But where will they get this extra money after having suffered a pay freeze, increased inflation, fuel costs, and most people will dread the cost of utility bills this winter. Let’s conjure up some money, better still, let’s all go and print some, like the bank of England. Not everyone is as skint as you would think, while not everyone but people out their do still have a fair amount of disposable income to be spending, judging by the amount of people I still see spending at Meadowhall and it is sound advice to pay your credit card balance down if you can afford it. Unless all the Meadowhall shoppers are maxing out their credit cards on iPads and the latest designer gear. Link to comment Share on other sites More sharing options...
rickiethecat Posted October 5, 2011 Share Posted October 5, 2011 David Cameron is to tell the country to pay off credit cards to help the economy recover. At a time when we are all being squeezed from every angle , Gas ,Electric companys taking the mick with price hikes , motorists being ripped off at the petrol pump on a daily basis , daily living costs going through the roof ,all on top of the very helpful hike in VAT to 20% , then here we have Dave telling us to somehow magic yet more cash out of thin air to pay off our credit card balances. :loopy: With most people suffering in the knowledge they wont get a pay rise for the fore seeable future, redundencies galore , yet Dave STILL thinks we can all pop upstairs and pull a box full of reddies from under the matress and clear our credit cards . Yeah , good one Dave. Please tell us what planet you are living on. http://www.telegraph.co.uk/news/politics/conservative/8807498/Conservative-Party-Conference-2011-pay-off-credit-cards-for-the-sake-of-the-economy-says-David-Cameron.html The idea that everybody is skint is a myth. Look at how many people own luxury items - 42 inch TVs, Sky subscriptions, the latest mobile phone on 24 month contracts, flash cars, designer label clothes, etc. If people cut back on luxuries and actually only spent what they could afford rather than buying everything on credit they wouldn't have got themselves and their country into this mess. Sensible advice from a government encouraging people to take responsiblity for themselves. Well done, Mr Cameron! Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 5, 2011 Share Posted October 5, 2011 But where will they get this extra money after having suffered a pay freeze, increased inflation, fuel costs, and most people will dread the cost of utility bills this winter. Let’s conjure up some money, better still, let’s all go and print some, like the bank of England. Simply put you should enforce austerity on yourself to help the banks. turn the heating down. Buy cheaper food etc.... Then you will have an increased discretionary spend you can use to pay off debts. Great for the banks!! The banks will have asked him to say this. Link to comment Share on other sites More sharing options...
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