From: "Andy Pandy" 
Newsgroups: uk.finance
Subject: Re: debt
Date: Wed, 12 Oct 2005 23:01:52 +0100


"jon"  wrote in message
news:dijvf4$dlo$1@nwrdmz02.dmz.ncs.ea.ibs-infra.bt.com...
> Paying the full amount each month does'nt really amount to credit, its more
> convenience I would think.

It's still credit - you are still permanently in debt to the credit card
company.

> I'm sure various people can think of convincing reasons why using a credit
> card as a normal way of going about their purchases is acceptable.

Like you said, convenience. I find it an efficient way to manage my finances - I
can't predict exactly what I'll need to spend every month, I don't need to with
a credit card - when I get paid I deduct last month's credit card bill, usual
DD's and a few hundred spending cash and plough anything remaining into my
mortgage. If I didn't have a credit card I'd need a crystal ball to predict my
month's spending, or have a big overdraft which would cost me in interest.

> In the
> final analysis though its borrowing money and being in debt. I always
> thought being in debt was not a good thing,

Paying high interest on debt isn't a good thing. Not being able to repay your
debt isn't a good thing. But many people make money out of debt (eg 0% credit
card balance transfers). The vast majority couldn't afford to buy a house
without a loan.

> for some strange reason its now
> considered the norm.

True. But it won't be after the peak or trough of the current K-wave.

> Forgive  me for saying this, but I do feel a certain
> pride that the material goods that I have and the holidays that I have are
> truly mine

House?

> and not something that I am going to have to pay over the odds
> for.

If you borrow wisely you could pay *under* the odds!

> Why would anyone consider my posting to be a "troll". I thought what I said
> was something that a lot more people should have the guts to stand up and
> say.

You're being too simplistic.

--
Andy