Households on 'money knife-edge'. Much worse to come ............

I am very saddened to hear that so many of our young people are in financial difficulty. Mabon Dane

Then why do none of the "findings" below relate to lack of **knowledge**?

When was it ever different?

About 8 years ago when personal debt stood at around *half* the record £1.2 trillion debt it stands at today.

About 8 years ago when personal debt stood at around *half* the record

===== So your contention is that 8 years ago;

Somehow, I dont believe all this.

But no doubt you would be able to tell us what the actual stats were?

LOL. Whenever have I made that contention ? Perhaps you're mixing me up with the authors of that FSA survey

I haven't a clue but I'll hazard a few guesses if you'd like me to.

In message , Crowley writes

"A lack of consumer knowledge" !!!

How much do these people spend trying to convince us that they are conduct investigations equivalent to rocket science

IT'S A LACK OF FU***NG MONEY YOU MORONS!!!

I didnt save a penny, and lived on credit cards, borrowings, and overdrafts from almost the day I started work at 17, until I was about

In message , Crowley writes

But you are posting their comments in support of your previously stated position, so it is a kind of contention which you purport to agree with.

Guesses wont be good enough - if you provide anything, the stats need to be accurate from quoted sources.

As far as I can recall, Britons have not been a nation of savers for over a decade or 2.

LOL. Whenever have I made that contention ? Perhaps you're mixing me up with the authors of that FSA survey ==========================================Sorry, I was under the misapprehension that you posted something you agreed with.

ed

I posted it for discussion and I think I've made clear that I agree with parts of it. I'm not sure about some of it though I have no particular reason to doubt the veracity or otherwise of a survey by the FSA. Do you ?

Richard Faulkner wrote: .

I think the point here though Richard is that the level of indebtedness is much worse than in your day. It's not simply the 'lack of money'. it's the fact that over the past few years Britons have borrowed and spent like never before leaving them in record debt.

Or perhaps you think it's all hunky dory and record debt levels, negative savings ratio, and the pensions crisis is just a load of fuss about nothing being whipped up by doommongers ? Though why the FSA should join in the chorus is beyond me.

LOL, have you any stats to back up that claim?

You always need to ask what their agenda is. Personally I don't understand why a Ltd Co. such as the FSA is flying under a .gov.uk domain name when they claim themselves to be:

an independent non-governmental body

all seems a bit fishy to me.

No - this was an AFAIR statement.....

In message , Crowley writes

Just like I did, along with many of my peers.

I suspect that debt levels are almost always at record levels, due to the fact that our economy tends to grow.

Negative savings have been an issue for longer than the past few years.

The pensions crisis is a new thing,

Justify their existence??

The thing is, people are always looking for excuses for their problems. When I was in debt, it was MY problem... not the fault of the people who lent me the money. If they offered me too much, and I took it, it was MY problem. Anybody who says anything different is involved in creating a society where it is OK to pass the buck rather than take responsibility. It happens with crime, where do gooders are always looking for a reason to blame society rather that the T**T who broke my car window, or mugged the old lady down the street........ The FSA seem to be on the same bandwagon.

Nothing has really changed.... we are at a point in the cycle, and we will be at another point in a few years.

We agree on that. People should have to take responsibility for their own behavious rather than blame others and that includes debt. I don't want to see them bailed out with taxpayers money.

Very true. Though it may be worse this time ;-)

I posted it for discussion and I think I've made clear that I agree with parts of it. I'm not sure about some of it though I have no particular reason to doubt the veracity or otherwise of a survey by the FSA. Do you ?

================ SInce they only post bare facts, and dont show how they have changed over the years, or compare us to other similar countries then I fail to see the point of it. So, what does it all mean? Nothing is the answer.

Its like me posting that I have done a survey and 85% of all people called Crowley are pessimistic about the economy. So what? Only useful if I point out, for example, that everyone else is 50% pessimistic, that 10 years ago Crowleys' were 99% pessimistic, and Crowleys in mainland Europe are 20%. Now we get to draw some conclusions.

Well we certainly dont know that from the report extract you posted.

It's limited by failing to draw past comparisons that's true but it's generally a very gloomy report. The FSA aren't trying to flog us anything are they so can we assume they are reasonably neutral and objective in their expressions of concern ?