Tophat ......Now that's a strange one , obviously they have to convert the shares before they can sell them , although they still have to redeem the DAS , but since the consolidation my understanding was that they now held 5.1 billion not 51 billion pref. shares ......You live and learn , eh .
Back in the 60s expectations were lower and many forced to live more within your means... And buy mostly what you needed. Late 60s those that saved hard could put down a deposit and get married with a new house if lucky or an older terraced one... Then 1972 the Access credit card came along and attitudes and expectations started to change as whatever you wanted slowly became available on credit ... The rest is history to the present day
It would be interesting to know how much interest is paid just on credit cards per day in the UK.
There is also bank overdrafts charges paid per day... Some, probably have both.
Both never such a factor in the 60s.. But just shows with the advertising growth and credit and store cards and overdrafts ... The wants of many are now accessible up and above their needs ... At an extra cost.
Maybe each generation excepts debt as a way of life .. Mobile phone costs can be another extra cost to the family budget ... So many extra out goings now compared to the 60s..
The older ones can see the folly of the past 40 year debt trend.. The old saying of get it on the card maybe we'll used every year now.. That's life now as they say...
my wife always recounts, when she was young, she asked her mother if she could go to the pictures. her mother said, have you any money, wife answered ,no, well how can you go to the pictures then. she,s lived her life on that philosophy.
We had less , so we wanted less and had less to complain about ,when we had more , we wanted more and had more to complain about . Think honestbob is right attitudes were different , if you couldn't afford it you saved for it or didn't get it . Then somebody came up with live now pay later and everything changed .
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