Debt pronWatching TV the other day we caught one of these "Bank of Mummy or the Wife" type shows and we thought, "This is Debt Pron." I.e. peoples financial problems exploited for the voyeuristic pleasure of others. Then we thought, "We bet lots of people on B3ta have massive financial problems. Let's exploit them." So, confess them all. Dodgy credit cards, lending money to some bloke in the pub, visits from the bailiffs, using one card to pay off another. We want to wallow in your fiscal pain. So, what is your biggest money fuck up?
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rob, Thu 23 Nov 2006, 19:50)
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evil credit cardsOne of my part-time jobs is at that department store whose name rhymes with "Gacy's." To get our employee discount when we buy stuff, we have to pay for it with their store credit card; that way they can track our purchases and make sure we're not abusing the privileges. Employee discount is usually 20% and interest rate on the credit card is 21%, so if you don't pay off your whole balance every month, there's no discount for you!
When I went to buy a Vespa earlier this year, I knew I wanted to pay about half the cost in cash and finance the rest. I assumed that financing was just like when you buy a car -- you get a loan with a (hopefully) manageable interest rate and pay it off over a few years. I found out that financing for nearly all two-wheeled vehicles is done via credit card-type accounts with much higher interest than auto loans. The last thing I needed was another damn credit card. (btw, new Vespas cost more in the US than in the UK because they are marketed as upscale playthings rather than practical transport. ugh.)
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cynfulcynner ...another American nutter, Fri 24 Nov 2006, 12:14,
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