Originally posted by zeitghost
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Payday loans may outstrip credit cards
Collapse
X
-
McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error." -
Originally posted by lilelvis2000 View PostThe loan is not from one payday to the next..its from when they run out of money to the point their pay enters their bank account. Probably no more than 2-3 days. The loan amount would be what they would spend in those days - ie: whatever bills come due.With the delays in bank transfers a person could run out of money on a weekend, but have bills due on the Monday. And given that banks now rip people off even more on overdraft fees. they loans may be the cheapest option.
Whatever bills are due?? surely the same bills come in every month yes there will always be the emergency ones but in general you have the same costs each month, every January Martin lewis goes on radio 2 and tells people to start saving for christmas because it will arrive on the 25th of december you know its gonna happen, its the same process
Delays in bank transfers?? there quicker now than they ever have beenComment
-
Originally posted by Support Monkey View PostDelays in bank transfers?? there quicker now than they ever have been
Budgeting is fine an all and I do agree that saving is a foreign concept to many given how cheap credit was and the delusion that your pension is all you ever need.McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
-
Hark at you lot.
'I'm in the top 10% of earners why can't these people just budget, its just cutting down to 2 Montecristos and a Magnum of Moet a day. No self control! - peasants'
I am in the truly novel situation that I have to check my balance regularly, first time since I was 25. I am well paid (relative to most) and we have a warchest. But rather than let my Bank bend me over I want to make sure all my accounts stay in credit. I don't just reach into my pocket and take out money any more.
We live in a charmed existence, it may not seem like it compared to Fred the Shred but we do. When was the last time you seriously saved for a new fridge (I'm talking the £100 no name brand not a SMEG or F&P)? We have a £1K+ fridge, I assume most of you do?
Plenty of people who are already struggling having been laid off, short hours etc. They are earning £15-20k with a family. They get to the third week and they can't afford to pay the electric bill. These loans are really tempting. They need regulating.
Also if they were all as clever as you they would probably earn the same! It might be obvious to you but many people don't understand it. Its difficult to save a third of your wage if you earn £10k a year.Always forgive your enemies; nothing annoys them so much.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment