If I gave you £50,000 - what would you do with it?

[scooterscot]

That's nonesense, I have plenty of debts which are gradually paying themselves off with very little if any interest being paid on them. In the meantime I am living and saving without the debts really affecting me.

And tomorrow were the interest on those debts to suddenly increase by 10%. Could you say the same thing? Why take the risk?

This is where my IFA jumps for my throat. You don't make long term decisions based on the short term conditions. From the man on the street all the way to parliament this is now our economy is run. Steady as she sails with no foresight for the incoming tsunami.

[NorthWestPerm2Contr]

And tomorrow were the interest on those debts to suddenly increase by 10%. Could you say the same thing? Why take the risk?

This is where my IFA jumps for my throat. You don't make long term decisions based on the short term conditions. From the man on the street all the way to parliament this is now our economy is run. Steady as she sails with no foresight for the incoming tsunami.

Even at 10% i would not be worried, but the way I manage debt means I am not expecting to ever pay anywhere near that.

[scooterscot]

Even at 10% i would not be worried, but the way I manage debt means I am not expecting to ever pay anywhere near that.

I'm amazed how fashionable debt has become.

Did you know negative numbers did not exist until a couple of hundred years ago. The Greeks had no need for them because they were only concerned with geometry. The American indians were the first to introduce negative numbers because they needed a way to record debt from asset.

[d000hg]

And tomorrow were the interest on those debts to suddenly increase by 10%. Could you say the same thing? Why take the risk?

Then you would use your savings to pay off the debts.

It's a stupid contractor who puts all their income into paying off debts including mortgages, because when you are benched you can't rely on your lenders to give some of it back!

[scooterscot]

Then you would use your savings to pay off the debts.

It's a stupid contractor who puts all their income into paying off debts including mortgages, because when you are benched you can't rely on your lenders to give some of it back!

Happy to be different.

[NorthWestPerm2Contr]

Then you would use your savings to pay off the debts.

It's a stupid contractor who puts all their income into paying off debts including mortgages, because when you are benched you can't rely on your lenders to give some of it back!

Well said, why can't I take advantage of debt while it is cheap/free? I am building up savings so can always pay most of them off in case of an emergency, that and being able to invest it to get more back than the debt costs....

[d000hg]

Happy to be different stupid.

Good for you.

[scooterscot]

Well said, why can't I take advantage of debt while it is cheap/free? I am building up savings so can always pay most of them off in case of an emergency, that and being able to invest it to get more back than the debt costs....

What debt costs less than the savings rates currently on offer?

Investing with money that's not yours - my wee free upbringing could never allow it.

[NorthWestPerm2Contr]

If I gave you £50,000 - what would you do with it?

What debt costs less than the savings rates currently on offer?

Investing with money that's not yours - my wee free upbringing could never allow it.

Plenty of credit cards online offering fees of under 1.5% for nearly 3 years interest free. You do the maths. And who said it would be savings? You have lots of other options for investment, if you don't take risks then you are never gonna make those big gains....

[scooterscot]

Plenty of credit cards online offering fees of under 1.5% for nearly 3 years interest free. You do the maths. And whoever said it would be savings? You have lots of other options for investment, if you don't take risks then you are never gonna make those big gains....

I prefer to make my gains through employment rather than speculation I suppose.