Money these days?

[sasskins]

When I was a slip of a lass and started work, I got £4.9.11d in my wage packet. I gave that to my mum and she gave me back £2. I had to make that work for me. Nowadays, all wages/salaries are paid straight into bank, bills are paid by DD, and things can be bought by 'chip'. Does anyone else feel that this lack of contact with 'real money' has contributed to peoples' debt?

[boxtops]

IMO it's the availability of so much credit which has led to the debt. I remember many many years ago getting my first credit card - woohoo! - free reign to get what I wanted, now, and worrying about paying for it later.

Personally, I'm better off without cash in my hand - have cash, will spend, I wouldn't want to be paid in cash - but then I've always been paid into the bank, right from when I started work in 1968....

[ummmm]

No. I can't keep cash....I end up giving it to the kids.

[sasskins]

Strange boxy - I started work in 69! Got my first credit card in 79 at the behest of a boyfriend. Worst thing I ever did.

[Mick-Talbot]

Wow ...not sure about how many groats you used to get to the pound but it looks like you paid about 60% of your wage in board ... that is a fair whack

[sasskins]

It was normal back then MT.

[sasskins]

It got worse when 'decimalisation' came in to being. My bus fare pre dec was 1s8d. After dec, was 10p. A significant increase.

[Old_Geezer]

Can't say I ever had a problem with credit cards since I only rarely bought something I didn't intend to pay off at the end of the month. But the original card was cancelled when Barclays though it a great idea to try charging me annually for it, so I told them what they could do with their card. And the replacement one was not renewed the moment the company thought it hugely amusing to deny a payment, apparently due to the the company that took over introducing some new rule that I had to register a replacement card: so I told them what they could do with theirs too since I wasn't going to have some faceless jokers embarrass me in the shops. Have to say I've got along very well without one, although I'm not overly keen on having to use a debit card for Net purchases.

I guess lack of contact with notes & coins might prevent a good understanding of what each is worth and how one needs to weight up the true value/cost of what one is contemplating purchasing. But that said seeing the bills mount up ought to help provide some context for most. An initial drop into unplanned debt while young ought to serve as a lesson to avoid it in the future.

[Old_Geezer]

Perfectly normal. One was helping with the family bills not paying a landlord. Recall that a year previously you'd have been in school and getting little, apart from maybe a paper round wage or so.

[nannybooby]

I still prefer cash ,when you have it in your purse you can spend ,when its gone its gone - no spend! Simple! Credit cards are good for large purchases like the monthly food shop(HA HA) but you hav to remember youve got to pay them back so a mixed blessing.

[nannybooby]

Mick Talbot , saucy lad groats weren't around in the sixty's just pennies ,halfpennies,tanners,treepenny bits ,bobs, florins and half crowns, then we got on to the real stuff paper money, ah the joy of a ten bob note on your birthday.

[slinky.kate]

i dont have a credit card,and thats my personal choice,i just wish everyone would stop pestering me to muse these cards,i am happy with my 'debit card'

[slinky.kate]

^use.

[grasscarp]

boxtops I started work just before you in 1966. I got £8 a week after tax. No credit cards so you had to save up if you wanted to do something. I had a 1s 6d salad each day and saved up to go on holiday for a week in Majorca with my friend. Nowadays nobody saves up to do anything. It is live now pay later. It is all too easy now to spend. So yes, not seeing the real money does add to getting into debt. Instead of cards offering you credit they are really offering you debt, and lots of it.

[sasskins]

Hear hear grass - at last simeone has understood my OP.

[vivandorron]

I am refraining from replying to the question because a click of sasskins 'temporary Avatar' has revealed that she has overrun her credit with AB.

Ron.

[heathfield]

So many people these days say, 'Oh. I don't carry cash.' They'd find themselves disappointed if they visited the local pubs in my area!

[DaisyNonna]

I too started work in 1968

[gingejbee]

No, peoples' own actions have caused their debt. Spend more than you earn/have and you're in debt. Not difficult.
And, in all the years of having a credit card, I've always paid in full at bill time - I simply use it as a convenience.

[DaisyNonna]

Have a credit card for a situation of dire necessity. Fortunately it has been so little used I am no longer sure of the PIN number!

[annadomino]

I started work in 1962, and have never had a credit card.
I was brought up in the way that if I wanted it, I had to save for it.
Still the same today, if I dont have the cash, I wont buy it.