Why does the UK public love taking credit (i.e. credit cards/mortgages)? Why...

S

Ssshhhh

New member
...isn't there a saving culture? Maybe one of the reasons for this national credit mess in the UK is the culture of spending on credit, rather than our own earned cash? Why does this culture exist? And who do we blame for creating this culture? Modern day corporations?
 
Our parents.
The first credit cards started around 1972
In the US credit card interest became tax deductible.
This started a massive spending - people wanted to pay interest and not pay in full.
There is a mentallity about tax deductions in this country that I will never understand.
This started some of us in this nasty habit of buying things that we had no money for.

I blame our goverment, for making interest tax dedectible.
This makes people want to throw money away in interest so they can get a few pennies back at tax time.
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