While I agree that the Banks have an awful lot to answer for, Joe public must take some responsibility. You only have to watch the Bailiff gets his own back shows on Dave and other sat channels to see how irresponsible people have become. It's not just the stupid ones either. There has been for too many years a culture of buy now worry about it later.
Credit cards, store credit and loans are relativity new to the UK, Credit cards came in the late 60's I think, with Barclays being the first issuer. We have embraced a world where we want large plasma tv's, better cars than our neighbours, designer clothes, names on everything and we want it now.
Our grandparents and for some of us, parents would have saved dammed hard and then thought about spending we cannot be bothered and must have it now.
I have a Ipod, the photo model, when I bought it 3 years ago it was cutting edge, now I keep getting told that I need a new one at £200.00 why? it works well, sounds fine and has caused me no problems whatsoever, but it is old and not as cool as the new one so I should spend money just to look trendy.
My niece's parents have a perfectly nice house, but they went ans spent £80K on an extension INSANE, they have has at least 8 cars in the past 8 years, all on HP, all nearly new. Their current motor is a Audi A3, it's newer than my BMW Coupe so it must be better! She has a basic Neff oven but as it's newer than my Miele, which I bought in a liquidation auction along with the whole kitchen, it is better WHY.
Until we can curb our desire to have it right here right now we will never change, as WWW said there are 18 and 19 year olds on other threads trying get £60-90K and if you offer words of caution, sod you, you don't know anything.
I had a flying lesson when I was 15, I first went on a flight deck when I was 11, it was a JAL 747-100 on the way to Japan, the old way over the pole. I spent an hour on the flight deck and realised that was what I wanted to do. I did not get behind the controls of a aircraft again until I was 33, doing my PPL here I am 5 years later with a job on 737's. In Africa, earning good money and enjoying it. My debt, although I do have some, is manageable and will be clear within 18 months (£20k ish).
My point, well I saved and waited, worked bloody hard and now am reaping the rewards. I might even buy a Boxter S next year, unless my Fiancée wants a Volvo XC90.
Rant over.
Good flying and good luck
FC
