tiredofwhiners wrote:Joeblack wrote:Not all 'younger folks' go into debt to buy new/latest things!!
Not all granted, but the vast majority - absolutely they do. Someone else posted about a 30 year old with a new BMW on the front drive - probably of their parents house because they want bling now, won't save and bemoan that they cannot afford to buy a house when there's £40k of metal rapidly depreciating on the drive.
Not all, but most for certain.
I posted this, and I think your wrong to tarnish people with that brush, old and young alike have caught affluenza in the past 10 years and although statistics may show the majority are in the younger bracket, there is a large amount of 25-35yo that have set up new business in the depths of the recession, this is something that requires money management skills, also do not forget that these 'younger' people you talk of will be paying this debt back a long time after you golden oldies have gone