Puts our pay into perspective

[The_Equalizer]

Not true though.

"If you owe your bank £100 you have a problem. But if you owe a million, they have."

Though today it would be:
"If you owe your bank a thousand pounds you have a problem. But if you owe a billion, they have."

Apart from SASGuru that doesn't really apply though.

[OwlHoot]

3. With some products e.g. credit cards the interest is deliberately done in a way that even Maths professors have difficulty calculating it.

Also, people diligently trying to check their balance using cash machines often have to contend with a display that shows only the "cleared" balance which may seesaw wildly compared with the "pending" balance (especially after a load of bills have just been paid).

If the authorities really wanted (although they obviously don't) more transparent money handling, which would be far more manageable for many, then the first thing would be to mandate instant clearing.

The snag is that would bring us a step closer to abolishing cash, which would be a thoroughly Bad Thing.

[northernladuk]

May pay is utter crap. I can't even cover my mortgage with my pay let alone save anything

[MarillionFan]

Millions have less than £100 in savings, study finds - BBC News

This is a disgraceful thread designed to humiliate Suity and I for one will have no part. For Shame vetran, for shame.

[NotAllThere]

...
If the authorities really wanted (although they obviously don't) more transparent money handling, which would be far more manageable for many, then the first thing would be to mandate instant clearing.

The snag is that would bring us a step closer to abolishing cash, which would be a thoroughly Bad Thing.

It would also be the end of free banking. It's the clearing system that pays for your "free" banking.

Cash will never be abolished. As the author Neal Asher pointed out, somewhere, someone will eventually write an I.O.U.

[OwlHoot]

It would also be the end of free banking. It's the clearing system that pays for your "free" banking.

Cash will never be abolished. As the author Neal Asher pointed out, somewhere, someone will eventually write an I.O.U.

Hmm, but an IOU is not transferable (very far), and what if the issuer doesn't deliver on it? If everyone has to resort to IOUs A & E departments will be full of people with broken knee caps!

Obviously the biggest problem for low wage earners (or anyone who spends at least as much as they earn) is that once in debt or behind they are running up a down escalator. It only takes a splurges like the kids' birthdays or a family holiday, or servicing the car, or just routine bills, to knock them sideways financially for weeks or even months.

[vetran]

This is a disgraceful thread designed to humiliate Suity and I.

FTFY

caught a bit short after your time on the dole?

[woohoo]

Money is for wimps.