Quote:
Originally Posted by Skwirrel
Many consumers are more interested in the monthly cost of what they buy than the overall cost. Phones, broadband, netflix, sky, gym membership etc all £xx/month. The cost of cars has gone up partly to lead people down the PCP route as you'd be daft to buy one with your own money right?
I am always surprised by some of the people I work with who live pay check to pay check, their whole income absorbed by monthly outgoings with limited savings to fall back on. Most people on here a lot more savvy about total cost, finding a good deal and alternative funding options.
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Living on monthly payments can be a two edged sword, fine while the going is reasonably good, but so easily goes wrong.
Problem today is not even living pay check to pay check, many more have moved to living beyond their means. UK households have seen their outgoings surpass their income for the first time in nearly 30 years, according to the Office for National Statistics, many supporting their outgoings with use of savings and taking on debt. Mostly debt from the figures.
I suggest that is a recipe for disaster.