Is it time to bring back debtors prisons?

Butcher's Coat said:
Or maybe they were the last generation to be brought up by their parents who had been through wartime Britain - who instilled in them the train of thought not to spunk their hard earned dosh on things they can't afford?
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The generation you talk of could buy a house for 15k.
 


Mercia Blackcat said:
Aye but in 1973 I was earning £20 a week, was married and had a child.
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Butcher's Coat said:
And the wages earned at the time reflected this.
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Was debt as easily to get as it was then though? Also what did a household family need then compared to today's era? A house, car and money for a drink down the wmc? Not advocating debt but it just seems there is more in demand stuff these days with everyone throwing credit at you.
 
Macho said:
Was debt as easily to get as it was then though? Also what did a household family need then compared to today's era? A house, car and money for a drink down the wmc? Not advocating debt but it just seems there is more in demand stuff these days with everyone throwing credit at you.
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Well that's a good point. No it wasn't as easy to get into debt. A car was still a bit of a luxury but people didn't need to travel as far to work. In towns there were still large factories employing thousands and many more people travelled to work on a push bike. Many people rented colour TVs rather than owning them. When the first VCRs came out they cost over £400 which was a lot at the time. You could get a very decent second hand car for less. The main items people went in debt for was white kitchen goods, washing machines etc but that would be through HP (Hire Purchase) which needed a job to qualify but there was more real work available in the early 70s. You could walk out of a job in the morning but have another one by the afternoon just by knocking on factory doors. I suppose the pace of life was slower. Even having a phone was not universal.

And hardly anyone went out on a Sunday.

We live a throw away consumer society now. Hardly anything is used for its natural lifetime and very little gets repaired these days.

People get a new phone as soon as the latest versions come out.
 
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Mercia Blackcat said:
People get a new phone as soon as the latest versions come out.
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Its not as much as, as soon as latest comes out. Its contract comes to end & might as well get a new one just for the sake of it when the one they have will last a couple of more years. And could save a few quid by going sim only for a couple of years until phone is no good.
 
Chewit said:
Simples ....you need a home you need a car. Buy those over time. Anything else save for or you can’t afford it.
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And as i posted previously, under these draconian rules those of us who are responsible (and a bit wise) would be out of pocket. Possibly a couple of grand a year.
 
Baby boomers had the best financial circumstances of all generations since the end of WWII.
Most affordable housing, plus they benefitted most from right to buy, cheap housing made even cheaper.
 

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