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Over-60s reporting higher credit card debt
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PostPosted: Thu May 09, 2013 2:42 pm 
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Levels of credit card debt are higher among the over-60s than the population as a whole and increasing numbers are resorting to debt advice, a debt charity has reported.

The alarming warning contradicts the stereotype of younger people being the most indebted and highlights the financial difficulty many older people are suffering even after they retire and are unable to easily boost their earnings. Read more


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Re: Over-60s reporting higher credit card debt
PostPosted: Sun May 12, 2013 3:41 pm 
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Joined: Wed Jan 13, 2010 2:59 pm
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Location: Swinton, South Yorkshire
How the hell does anyone, not just pensioners, rack up a £23.000 debt on credit cards without the CC company putting a stop to it?
It's bloody hard, I'll tell you! It is totally irresponsible from all sides.

I've tried to find out what the 'poverty line' is and the more I researched, the more confused I became. The only concrete fact is that this 'line' is made out of elastic. It's very stretchy!

I lived 24 years in another European country and when I came back here in 2008, I literally thought I was in the third world when I saw all this "poverty". That was until I realised a lot of this was self-inflicted! I have never seen so many people, young and old, mis-managing their finances, most of which came from some benefits or the other.
I had to live on benefits and although I am by no means an accountant, I had the ability to work out my costing and the discipline not to live beyond my means. The 'easy come, easy go' attitudes shown by so many here is disgraceful! The list of priorities is upside down. An i-phone or Sky TV sets precedence over a meal, except when it's a big fatty take-away.

Read through the OP again, the only question not asked, nor answered, is - "why???"


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