Stan Tamudo Posted October 5, 2011 Share Posted October 5, 2011 Cameron calls down from his ivory tower, asking people to do things he will never have to do. The Eton toffs haven't got a clue Link to comment Share on other sites More sharing options...
poppet2 Posted October 5, 2011 Share Posted October 5, 2011 Better still, why doesn't David Cameron, persuade banks and credit card companies to make interest rates lower, now that would help people. Link to comment Share on other sites More sharing options...
chrisss Posted October 5, 2011 Share Posted October 5, 2011 what about all the unemployed people I dont thinkt they will find that advise very useful Link to comment Share on other sites More sharing options...
mj.scuba Posted October 5, 2011 Share Posted October 5, 2011 Sounds like common sense to me. Down pay your debts and limit your exposure to increases in interest rates. Link to comment Share on other sites More sharing options...
rickiethecat Posted October 5, 2011 Share Posted October 5, 2011 Better still, why doesn't David Cameron, persuade banks and credit card companies to make interest rates lower, now that would help people. Not for people who've got savings - ie those who've managed their finances wisely rather than bought a load of stuff on credit that they now can't afford to pay for. Link to comment Share on other sites More sharing options...
Obelix 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. Paying off a credit card is the last thing a bank wants - if you do that then the revolving balance disappears and they lose the interest income stream. Link to comment Share on other sites More sharing options...
speedbirdone Posted October 5, 2011 Share Posted October 5, 2011 Better still, why doesn't David Cameron, persuade banks and credit card companies to make interest rates lower, now that would help people. Nothing stopping anyone doing a 0% balance transfer, plenty of cards out their that are offering up to 2 years interest free on balance transfers. Link to comment Share on other sites More sharing options...
Magilla 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. The same place they thought they were going to get it from when they took the credit? Link to comment Share on other sites More sharing options...
Magilla Posted October 5, 2011 Share Posted October 5, 2011 Better still, why doesn't David Cameron, persuade banks and credit card companies to make interest rates lower, now that would help people. It wouldn't, it simply moves the problem around but solves nothing. Link to comment Share on other sites More sharing options...
MrSmith Posted October 5, 2011 Share Posted October 5, 2011 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. How is it great for the banks they want you to pay interest at 30%, if you pay it off you are depriving the banks of their profits. On the other hand it is bad for me because if everyone paid their credit card in full every month the bank would lose money and may then charge people for using a credit card. You keep feeding the banks and pay interest on your cards; I will keep abusing and using banks for free. Link to comment Share on other sites More sharing options...
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