Which? poll says many 'borrowing money for food'

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Which? poll says many 'borrowing money for food'

Post by cronus » Sun May 05, 2013 5:51 am

http://www.bbc.co.uk/news/uk-22417334

Which? poll says many 'borrowing money for food'

One-in-five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.

It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.

The consumer group runs a monthly insight tracker survey focused on spending and behaviour - 2,000 people took part in its poll.

Which?'s executive director, Richard Lloyd, described the findings as "simply shocking".

The figures come despite official statistics last week showing that personal insolvencies have dropped to their lowest levels in five years.

Of the households covered by the Which? survey, 43% were headed by people between 30 and 50, while just under half had incomes under £21,000.

The research found that 55% of those using credit to do weekly shopping planned to cut back on food in the coming months, with almost a third saying they had to borrow from friends or family in order to make ends meet.

The study also found that one quarter of people said that they were living comfortably on their incomes and that more than one third - 36% - felt their finances were under pressure.

'Breaking point'
Almost one third - 31% - of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49.

(continued, so let's invite 29 million Romanians and Bulgarians - should ease pressure on food prices?) :coffee:
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Re: Which? poll says many 'borrowing money for food'

Post by JimC » Sun May 05, 2013 6:37 am

Misleading in some ways...

There are those who use credit cards strategically, always paying them off before incurring interest...

The others are certainly a potential tragedy...
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Re: Which? poll says many 'borrowing money for food'

Post by cronus » Sun May 05, 2013 6:48 am

JimC wrote:Misleading in some ways...

There are those who use credit cards strategically, always paying them off before incurring interest...

The others are certainly a potential tragedy...
It should be interesting if interest rates ever rise again? :coffee:
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Re: Which? poll says many 'borrowing money for food'

Post by Hermit » Sun May 05, 2013 7:13 am

Scrumple wrote:
JimC wrote:Misleading in some ways...

There are those who use credit cards strategically, always paying them off before incurring interest...

The others are certainly a potential tragedy...
It should be interesting if interest rates ever rise again?
When interest rates were high and I had a mortgage to pay off, I paid for everything I possibly could with my credit card. It was effectually a 55-day interest-free loan, and also accelerated the repayment of my mortgage because the balance on my transaction account took care of some of the interest on it. Today I don't even have a credit card. That's because there's an annual fee of around $100 on it, and also because I don't have a mortgage now.

I don't remember when it was the last time I did not pay for groceries or any other bill with cash. It all comes out of the bank account, which is where my employer deposits my wages.
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Re: Which? poll says many 'borrowing money for food'

Post by cronus » Sun May 05, 2013 7:16 am

Hermit wrote:
Scrumple wrote:
JimC wrote:Misleading in some ways...

There are those who use credit cards strategically, always paying them off before incurring interest...

The others are certainly a potential tragedy...
It should be interesting if interest rates ever rise again?
When interest rates were high and I had a mortgage to pay off, I paid for everything I possibly could with my credit card. It was effectually a 55-day interest-free loan, and also accelerated the repayment of my mortgage because the balance on my transaction account took care of some of the interest on it. Today I don't even have a credit card. That's because there's an annual fee of around $100 on it, and also because I don't have a mortgage now.

I don't remember when it was the last time I did not pay for groceries or any other bill with cash. It all comes out of the bank account, which is where my employer deposits my wages.
It'll keep going until the oil decline breaks the pyramid scheme of borrowing from a 'endless' better tomorrow. :coffee:
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Re: Which? poll says many 'borrowing money for food'

Post by Hermit » Sun May 05, 2013 7:59 am

Scrumple wrote:It'll keep going until the oil decline breaks the pyramid scheme of borrowing from a 'endless' better tomorrow.
Yes, the unsustainability of consuming finite resources at an increasing rate will eventually destroy the very fabric of societies we have become used to. We'll be back in the dark ages, or worse. The contents of of our libraries will be used for heating, of course there'll be no such thing as the internet, and the infrastructure we take for granted, such as modern medicine will disappear almost immediately. Superstitions will once more be in the ascendancy.

None of this has anything to do with "human nature" or "race", which is the tenor of your posts.
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Re: Which? poll says many 'borrowing money for food'

Post by cronus » Sun May 05, 2013 9:02 am

Hermit wrote:
Scrumple wrote:It'll keep going until the oil decline breaks the pyramid scheme of borrowing from a 'endless' better tomorrow.
Yes, the unsustainability of consuming finite resources at an increasing rate will eventually destroy the very fabric of societies we have become used to. We'll be back in the dark ages, or worse. The contents of of our libraries will be used for heating, of course there'll be no such thing as the internet, and the infrastructure we take for granted, such as modern medicine will disappear almost immediately. Superstitions will once more be in the ascendancy.

None of this has anything to do with "human nature" or "race", which is the tenor of your posts.
I know. I'm thinking about who'll have the most resources once the lights are out though. In the not so distant future. The ruthless will prevail. Nothing to do with the present illusion of good times for all. Or any prospect of coming back from the blow out of this current civilization. :tup:
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Re: Which? poll says many 'borrowing money for food'

Post by Audley Strange » Sun May 05, 2013 12:54 pm

Scrumple wrote:http://www.bbc.co.uk/news/uk-22417334

Which? poll says many 'borrowing money for food'

One-in-five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.

It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.

The consumer group runs a monthly insight tracker survey focused on spending and behaviour - 2,000 people took part in its poll.

Which?'s executive director, Richard Lloyd, described the findings as "simply shocking".

The figures come despite official statistics last week showing that personal insolvencies have dropped to their lowest levels in five years.

Of the households covered by the Which? survey, 43% were headed by people between 30 and 50, while just under half had incomes under £21,000.

The research found that 55% of those using credit to do weekly shopping planned to cut back on food in the coming months, with almost a third saying they had to borrow from friends or family in order to make ends meet.

The study also found that one quarter of people said that they were living comfortably on their incomes and that more than one third - 36% - felt their finances were under pressure.

'Breaking point'
Almost one third - 31% - of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49.
Yeah "essentials" is a hair product line.


Realistically, some of those are actually broke, some are up to their eyeballs in debt forever and some of them would have pissed a weeks wages up a wall or blown it on online poker and some of them would think "essentials" are things like new clothes and gadgets.

Never listen to the public, they're whining fuckers.
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Re: Which? poll says many 'borrowing money for food'

Post by Bella Fortuna » Sun May 05, 2013 1:16 pm

I've been there.
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Re: Which? poll says many 'borrowing money for food'

Post by aspire1670 » Sun May 05, 2013 2:08 pm

Audley Strange wrote:
Scrumple wrote:http://www.bbc.co.uk/news/uk-22417334

Which? poll says many 'borrowing money for food'

One-in-five UK households borrowed money or used savings to cover food costs in April, a Which? survey says.

It suggests the equivalent of five million households used credit cards, overdrafts or savings to buy food.

The consumer group runs a monthly insight tracker survey focused on spending and behaviour - 2,000 people took part in its poll.

Which?'s executive director, Richard Lloyd, described the findings as "simply shocking".

The figures come despite official statistics last week showing that personal insolvencies have dropped to their lowest levels in five years.

Of the households covered by the Which? survey, 43% were headed by people between 30 and 50, while just under half had incomes under £21,000.

The research found that 55% of those using credit to do weekly shopping planned to cut back on food in the coming months, with almost a third saying they had to borrow from friends or family in order to make ends meet.

The study also found that one quarter of people said that they were living comfortably on their incomes and that more than one third - 36% - felt their finances were under pressure.

'Breaking point'
Almost one third - 31% - of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49.
Yeah "essentials" is a hair product line.


Realistically, some of those are actually broke, some are up to their eyeballs in debt forever and some of them would have pissed a weeks wages up a wall or blown it on online poker and some of them would think "essentials" are things like new clothes and gadgets.

Never listen to the public, they're whining fuckers.
Well, if you stopped posting we wouldn't have to listen to you whining.
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Re: Which? poll says many 'borrowing money for food'

Post by Bella Fortuna » Sun May 05, 2013 2:18 pm

Oooooooooooooooooh, that told 'em. :tup:


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Re: Which? poll says many 'borrowing money for food'

Post by Seth » Sun May 05, 2013 2:49 pm

But their "medical care" is "free"...

Guess that's the way to reduce the burden on the socialized medicine system...starve people to death. I mean hunger isn't really a medical condition is it?

Sounds like that Monty Python routine in "The Meaning of Life" where they guys come to repossess people's organs...
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Re: Which? poll says many 'borrowing money for food'

Post by MrJonno » Sun May 05, 2013 3:03 pm

Well if people start falling over from hunger, food is free in hospitals as a patient
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Re: Which? poll says many 'borrowing money for food'

Post by cronus » Sun May 05, 2013 3:08 pm

MrJonno wrote:Well if people start falling over from hunger, food is free in hospitals as a patient
People starve in the NHS. They have a policy of not feeding people over seventy or who can't feed themselves. It's like Logans run these days.
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Re: Which? poll says many 'borrowing money for food'

Post by MrJonno » Sun May 05, 2013 3:24 pm

Scrumple wrote:
MrJonno wrote:Well if people start falling over from hunger, food is free in hospitals as a patient
People starve in the NHS. They have a policy of not feeding people over seventy or who can't feed themselves. It's like Logans run these days.
Well they don't feed people in a coma with no realistic chance of recovery as active euthanasia is illegal
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