Grandma knew best..........

My Grandmother never owed anyone for goods or money in her life. She was typical of her generation. She reckoned if she didn’t have the money to buy whatever then she (and they) went without.

My mother often used to say to the grocer, put it on the slate & I will pay you Friday, which she did, without fail.` We had 7 grocers in our road. In the 1970s she had a few trhings on instalment plans & in the 1990’s had a credit card which she cleared every month.

From 1990 on debt had a fancy new name CREDIT. “your flexible friend” & “Take the waiting out of wanting”.

Easy availability of every kind of household & expensive goods were up for grabs, the nation spent like there was no tomorrow.

Have we collectively by throwing caution to the wind brought this world crisis on ourselves by abandoning prudence and common sense en masse.

Re: Grandma knew best..........

There's a fine balance (and an element of good luck) between caution and taking the bull by the horns. 43 years ago, when I moved to Kettering and my new job, I purchased a house, a semi, that I knew I could comfortably afford. Since then I've got through life without any money worries. In retrospect I could easily have afforded a better house which would (probably) have meant a more comfortable lifestyle and more assets in my life. Still, I've no regrets.

Re: Grandma knew best..........

My mum and dad referred to "credit" as buying things on the "never never" - you never finished paying for them and you never really owned them!

Re: Grandma knew best..........

My Mother hated owing anyone and although she had "Tick" in the local grocers she never got anything she couldn't pay for up front, which with our Families income meant very little in the line of luxuries, she did have a Phillips Radio out on the never never if I remember, then in the 60's we had one of those dreaded "Slot" TV's where you put 2 bob into the back of it every three hours, many is the night spent watching a blank screen wondering who the murderer was.

Re: Grandma knew best..........

The only thing I remember any of the older generation owing, when I was growing up, was the ubiquitous cup of sugar

Re: Grandma knew best..........

It is good to take a certain level of credit to the grave (Win, Win).

Re: Grandma knew best..........

Have never had and never want a credit card, all my purchases are made either with cash or Debit card. Have NEVER been in debt (never want to be).

Re: Grandma knew best..........

The pet insurance companies only pay vet costs to the owner so the vet has to be paid upfront, without a credit card there's no way I could pay for my dog medication ( previcox) every 8 weeks plus bloodwork etc but the insurers usually pay within the fortnight the debt's only shortstanding. they're handy things to have for unexpected stuff like car repairs etc altho' I do know that some people can go over the top with them

Re: Grandma knew best..........

I've always had my own house, a decent job (Intil I took early retirement) and no money worries, but I don't put this down to paying cash! It's a matter of being responsible and using credit where appropriate - AND, being sure thay you can pay it off in a timely manner.

Still, I think that credit is far too easily obtainable today - a very irresponsible position by both the lenders and borrowers.