Broke: Britain's Debt Emergency | Dispatches | Channel 4 Documentaries
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- čas přidán 28. 11. 2022
- With Britain in the worst cost of living crisis in decades, Dispatches follows Citizens Advice Bureau debt advisors and three stories of extreme hardship and poverty.
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´weär öll günnäir kre$$. vvhäck xD
When Nixon(Kissinger) opened up China in the 1970's in response to the perceived greedy strong American labor unions, who do you think invested in China? Duh! Then and now, the same people piling on regulations causing more and more manufacturing to go there and down to Mexico. What struck me as odd long ago was a story I read about a Walmart trucker who said Sam Walton said to him in the 1970's that Walton and Walmart would make him a millionaire. How do you think Sam Walton knew his early employees would become millionaire on the stock? Do you think maybe he and Kissinger et al had made a deal to sell China made goods? And now while Europe and US pipelines are being cancelled/destroyed, China is busy planning pipelines to Russia. Do you really think the Chinese actually own what used to be US manufacturing know how? The US is being sold out from the inside out. Everything designed and manufactured by the US, Japan and Germany is being copied and made by factories located in China. And the CCP? I'd wager they benefit financially as partners but they're not calling the shots, I suppose they're keeping the Chinese slave laborers in line. And why do you suppose the events detailed in the book "The Princes of the Yen" happened at all? To help China no doubt. The weak Yen was purposely strengthened to keep Japan manufacturing from taking over the world because that my friends was reserved for Kissinger and friends.
The parliament was told to stay away from supporting a war but rather agree with the Israeli PM and the Turkish PM to ask Ukraine president to sign the peace deal but instead the parliament did the opposite. And you cannot imagine what these politician has done to people in the whole of Europe not just here. In lithuania things are so bad that just 2 years ago before the Ukraine war you could buy a German car like Opel or turan let us say 220,000 KM done for around 3500 Euros. Now a car that has done around 400,000 km is selling for 5000 Euros. Because Germany is broke and cannot produce cars like it did all because of war, The politicians has killed the people of Europe because they do not have heads.
The cancer is called "social democracy, welfare state." All European welfare is a big lie, all based on debt.
@@democracyforall They want a war. The leaders are conspiring for war. It's called population control.
As a single dad, the idea of quitting my job to look after my child is absolute madness.
imagine if you could become a politician? then you could choose to even not show up to work, not produce any type of valuable work while you are at "work", and still be paid 10 times more than the average college educated corporate rat race slave... sad but true
Dudes a clearly good person and loves his kids. May not be the sharpest but that's okay. It IS sad tho. Especially to see a grown man cry that he can't provide for his baby boys
@@triple_gem_shining not sure why he quit though when he has bills to pay
his apartment quite big and lots of material goods for somebody no working everything for free
I feel bad for all of these people, but every single one of them need to go to work more. If you’re a student youre working part time, it’s time to put school on hold. If you’re a single parent, you find a job-you cannot just sit at home and live off of the government and expect it to go well.
I'd like to mention three personal family facts, which should illustrate just how badly working class living standards have been forced down over the last three generations.
Fact 1.
In 1953 my father decided to marry my mother. He was employed as an apprentice mechanic at the local garage, so he worked hard, saved every penny possible and nine months later; had saved £100. He then took my mum to the local Estate Agent, pointed to the two up/two down houses and said "Pick the one you want". She did and he bought it cash down with no mortgage. I was born in that house two years later.
Fact 2.
In 1979 I decided to marry. By then buying a house cash had become virtually impossible, but as a truck driver I was earning £600 a month, so three months later I'd saved the £1,400 deposit needed for a 90% mortgage on a £14,000 house.
Fact 3.
In 2016 one of my sons similarly decided to marry. He worked hard, did all the overtime possible and three years later had amassed £30,000. He then approached the local Estate Agent, only to be laughed at and told to come back when he'd got £45,000 !
THAT's how badly living standards in the UK have actually declined in real terms for the typical working man in three generations, AND it didn't happen 'by accident; it was deliberately orchestrated/engineered by the UK's political/financial 'leadership' class.
100% right they are a predator class.
Ive been told similar things from grandparents about how they had it tough…. When you actually get into it the mortgage was 10% of the husbands take home pay… his wife didn’t work… when you point out the current situation they don’t believe you
We don't build enough houses, we take in the equivalent population of Birmingham every year, and even in the best of times there is a minority who live off benefits. If only I could show you the bank statements of your everyday Brit. I don't class smoking, daily pub visits, eBay, the latest Xbox and iPhone as essentials. There is a real lack of financial discipline with people.
Good comment
Brilliant example.Could not of put it better.
Our politicians have Engineered all of this.
Being financially literate is one of the most important skills to possess.
It doesn’t matter how financial literate you are when the government is actively squeezing everyone of everything they’ve got and then some.
Nothing to do with life skills the worlds upside down just like they planned it to be its called the new world order started march 2020 ....THE PLANADEMIC 😂😂
The Britain Debt is becoming far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
I'm not kidding when I say that the market crash and high inflation have me really stressed. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I do agree and in my opinion, considering the world today, the implications of rising or declining rates, inflation, has minimal effects when it comes to trading the markets. It’s about knowing when to get in and get out which requires experience and basic knowledge of market structure. The markets is psychological, it’ll be suicidal to ignorantly get it. Better still, seek the help of a portfolio manager to passively earn and learn the markets at your pace.
RIGHT! Markets are oceans not lakes. The prominence of basic or institutional financial managers cannot be overstated. Take myself, having faced my share of bad trades, Fortunately with the help of my Pm, I came to understand the essence of timing, capital, entry, exit, goal and how they each affect every asset. Currently hold a $515k portfolio averaging a 14% monthly Roi in less than 7 quarters. - -so I do know the importance of basic knowledge and delegation.
@@rogerwheelers4322 I've been thinking of going that route has been holding on to a bunch of stocks that keep tanking and I don't know if to keep holding or just dump them, do you think your portfolio-manager could guide me with portfolio restructuring?
@@FabioOdelega876I've shuffled through a few advisors in the past, and "Colleen Janie Towe" remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her details can be found on the net, so you can confirm yourself.
A country relying on charity provision is indicative that a government is failing. There’s now more food banks than McDonalds in the UK. Utterly shameful.
and same people using both almost simultaneously, I've seen them.
yes, it would be good to get rid of both.
@Ama Daetz yhh! It's scary time ahead
@@italianstallion9170 yeah sure you have
Half these people are in debt cos of the local councils.. the government gives zero fucks
From a Brit who has lived in continental Europe for the last 10 years, I can tell you that Britain is (I believe) unique in the way it allows financial service companies to target ordinary people. It is a shark infested pond where ordinary citizens are allowed as bait for financial companies to make profits. In no other western European country is one regularly bombarded by glib tv/radio adverts encouraging ordinary people to take out an "easy" loan. I even remember being encouraged by my bank to get into debt in order to demonstrate I could pay it back, thus improving my 'credit rating'. This BS is unique to Britain and the consequences are clearly visible in this video.
I took out a £15k loan 10 months ago to start a business and now I have £98k in the bank - works fine for me!
You didn't look enough I guess. In Poland is very similar situation. People are struggling, cost of living rising, shark loans are easily available, even firms specialising in "loans" for people deep in debt, where any bank won't give them no credit, but terms are well... you can image when happens when they cannot pay back. It's very easily to fall in debt loop, when you get another just to pay previous one. Definitely financial education would be very helpful for young citizens, entering job market and adult life.
That is why here in the Netherlands the British are seen as the Americans of Europe.
That is a lame excuse, these loans exist in every country, the difference is that the rest can read and do math, and not take out these loans. To blame others is typically for the brits.
This is because the wet dream of free market economy and consumerism has been dead and buried for at least 20 years, so the political classes have made the decision that the country will live as a debt economy where people live off credit cards and loans, nobody save's money anymore and at 0% interest what is the point, plus with 0% the bank's don't make any money unless we borrow, the more we borrow the better for them - until judgement day rears it's ugly head.
Quit his job to look after his son....
Now can't afford to look after himself or his son.
Great plan Paulo.....
And spending beyond his means. You know I totally get he wants to provide his son with everything but at his sons age, I learnt at a young age not to expect gifts and expensive presents because my mother was too sick to work. He's teaching his son a really bad lesson.
We got gifts on Christmas and on birthdays. Clothes for school in August. Otherwise nothing. Halloween and Easter gave treats, but it wasn't all year long. TV and lights stayed off until night, we played outside with more imagination than toys.
I'm a 60 year old American. I have a decent job and still healthy to work. I can assure you this is what's going on in my country also. People are struggling everywhere. Gas and food prices are crazy.
Thank you for telling us how it really is over the pond, i had an idea it was bad but it appears bad in all the so called developed nations.
That's a non truth. We are not even close to the uk when it comes to poverty. Their problems are twice as large. We have a better system that they like to criticize but know nothing about. It's only going to worsen for them because they cannot plunder no more.
100% agree.Here,in Russia people tend to live their lives from one payroll day to the other, in a sort of race to manage to live on.Fuel prices rose twice only in autumn, food ,staples - the prices are exorbitant.Its an endless struggle, even for employed people.We raise two kids(healthy), and we are the working poor -new term coined by the locals.Its all so sad and humiliating.
Its not even close, the average gallon of gas in the USA is around $4-6, in the UK that same gallon of diesel is closer to $12 or $10 for petrol, we also have much crappier weather then most of you, our heating needs to be on for close to 8 months of the year in some parts of the country and 5-6 for the rest, the average electricity bill can be easily $3000 and gas on top of that can be another $2000, and thats not even before we talk about things like council tax, road tax, VAT tax hikes.
Although in some US states it is actually quite shocking how bad society has become there, and expensive, I dont even think London could compete with some US cties.
@@mariat6689 For you in Russia its because of the war and subsequent sanctions so its not as straight forward as in other countries, but still painful non the less to normal folk like yourself who have to suffer politics.
What is your stance on the war in Ukraine as a Russian?
Paulo's son shouldn't even know what it means to be depressed, poor boy.
Exactly. It’s not fair on him, he’s still a child.
This government does not care about anyone..that was highlighted in covid time. Unfortunately now things have got this young boy suffering...all my best goes to his dad.... I understand that terrible feeling of making 100s of phone calls and getting nowhere.
Paulo's dad should be out earning a wage while his son is at school
And seeing his father struggling, being hurt and seeing his father cry, that made me extremely sad 😞
Very sad. In Paolos dads case though he does need to be out earning, he son is old enough to not be taken care of during school hours.
Maybe I am old fashioned, but I never put my "grown-up" business out for my child to see and or know. I can't imagine the anxiety his son feels hearing all that panic and chaos with bills and bailiffs
@Red Cup Chronicles true words
*What can he do when debt collectors are banging on their windows and doors; scaring the crap out of his son?*
@@saristaa1 I understand where you are coming from. However, he is sitting down, and putting all his problems, out in front of the kid. This time in the kid's life, is about being a kid. Not, having to hear constantly about his dad's mess. That mess is his dad's mess, not his mess.
@Cheryl Harewood *I don't disagree that his son shouldn't have adult problems displayed before him on a daily basis. That is potentially traumatizing. However, I think the father needs to have a few gentle, yet serious conversations with his son to prepare him for adulthood; while also protecting him from individuals banging on doors and windows. Why can't the father get a job at a fast food restaurant, while the son is at school; in order to pay off debt? I don't understand the UK systems.*
@@saristaa1 The dad could start no online business. That way he could heard money and stay home at the same time.
The employees of the Citizens Advice are so compassionate. Very moving
It’s ironic that Paolo stopped working to better care for his son and now he’s in so much more trouble and can’t really take care of his son because of the debt. There’s probably more to his story because I can’t believe that someone would give up their job that easily.
The child could have special needs and the dad be his official carer. Otherwise unless the dad is unwell or a carer for someone else, there's no grounds to stop work and claim benefits. It wouldn't be allowed, you'd get no money. You can only choose to stop work and look after an ordinary child without special needs if that child is under 2yrs old. After that, they make you use childcare services and return to work
Childcare in the UK is very expensive, usualy around 15.000 pounds a year which is around 19.000 US Dollars. So if you are low income you probably got more money over on UBI, specially if you are working nights or evenings
@@bigberthan007666his son is at the age where he's going to school so he could try and get a job that is within school hours. This time could be extended if the school has a breakfast or after school club
Well he's a single dad and has to look after his son, makes sense for him to go on universal credit now don't it? He's gotta be there for his kid and can't do a regular work schedule, simply impossible
@@KoniTheChiwa If his kid goes to school, he can work 5hrs everyday. There are many single mothers who do this, because they have to. That's 25hrs a week. Per month on minimum wage that's £1200 a month. Looked like he's only looking at the paperwork because the camera's are there. When there's a will, there's a way. He has no will. I think severe depression, doesn't say what happened to the mother etc.
The war on the poor and the working class in UK is wicked. I feel so angry as all this suffering is unnecessary and absolutely a political decision.
Agreed.
English style French revolution? Head of the traitors on pike for the disregard shown to loyal citizens! As an immigrant I always tend to stay out of the classification "British"(this does not mean I lack loyalty to this island. I am probably more loyal den one of those round heads back inna the days) and thus it allows me to properly critic(very important in improvement) the population, and I must say the politicians are not the only one to blame. The people share part of responsibility too. I mean if my illiterate(in the local parlance i.e. English ) parents without any family here came and managed to thrive then surely those who were born here with the capabilities of spoken English and have family links should out pace my parents. The bevioural adaptation is the way to go.
Considering the BILLIONS that the Tories grifted to their chums during the pandemic (including 3 times the yearly budget for welfare that was written off , and further billions spent on unusable PPE that we pay a million a week to store), making immigrants and welfare claimants for UK problems is disingenuous at best and utterly is blatantly despicable.
Neoliberalism
Class war
Paolo is really frustrating. This man quits his job knowing he has a child and is the be sole bread winner. Then he continues to live beyond their means while seeing debt pile up and still doesn't go to work. I would understand if his son was disabled but his child is totally healthy and normal.
It must be convenient, to judge Paolo's situation from afar.
Yes, that is definitely the way it seems. Paulo should surely get a job. Also there appear to be SO many single Mums! Where are the fathers of all these children? Why are they not forced to contribute? No country can afford to fund all these non-contributing citizens. Also, far too many people are very seriously lacking in financial literacy. How does this happen?
I just hate that his son knows so much, such a burden for a little kid.
Yep the kid is old enough to keep the house work up, and even learn to cook.
100 years ago he'd be in a factory lol
@@eustab.anas-mann9510 You see no way he could have done better for his son? Seriously? Polio put his story out there to be judged, no one dug into his business..
And the government insisting we've never had so good
Did you know that there has been a cost of living crisis for decades, it's just more people are unable to so easily ignore it since it's happening to them now?
Some people may be financially irresponsible, but loansharks really should be regulated.
They are, they’re called Payday Loans now.
@@BanjoPixelSnack In some capacities they might be but I don't think they are in terms of what they're on about.
An acceptable credit score doesn't guarantee they can pay it back or should've taken the loan. But in a way the responsibility lies with them.
It's where the middle needs that people debate on, I think.. 😊
very good point I would say some people are not smart
Loan sharks? USURERS disguised as Democracy and Freedom
I do feel for him, but I'm confused as to why Paulo isn't working? I understand he's a sole parent, but his son is school age so not at home most of the day? Even just working part time, he'd be a lot better off.
He is lazy and wants handouts. For decades these kind of people were giving substantial amounts of money in UK, now the amounts have been cut so they struggle... the guy "is confused who he owns the money to..." seriously, is he 4 year old.. that's why the system is collapsing in UK, their is not enough money to pay for the handouts and welfare system... imagine if every parent wanted to stay with their child at home..
I thought the same. I realise being a sole parent is tough but jobs to work around school hours are everywhere.
@@abm672correct
No matter how desperate you are, you’re child should never ever know what debt you’re in or that you can’t manage bills! And yes I’ve been there 😢 children don’t need to know you don’t know where your next meal is coming from it’s not their problem ❤
100% agree
Money has always been the main topic of conversation in my family growing up, it’s just sad
@@SoupMagoosh dito
I live in US. Under the Benefits system in the UK, can two people on Benefits share an apartment (a "flat" to you)?
It seems some people could make a go of it if the rent could be split between the two.
Except when you kindly ask them for money boxes to buy a loaf of bread. A property is a hard thing to hold onto if british councils want to take from you.
I am from Singapore. Although London is a larger Global Financial Centre than us, I think think the British retail loan sector is very badly regulated. It allows daylight robbery to be committed upon the people. 180% pa interest is pure madness. Someone in the government should be put in jail for allowing this or they should be sent to Singapore for some classroom lessons.
About 25 years ago I was a young single mum of two. I accrued debt just buying food. My debt was passed to debt collectors. I received phone calls late at night from these people, one woman even said to me I was an unfit mother and she was going to call social services to have my children taken from me!
This led to a massive down on my mental health which did then reflect on my children.
Thankfully I was given support at that time, I worked my way up, and today I have two amazing adult daughters, one is a police officer and the other is a successful online business owner.
I am a manager of a large team of auditors for one of the top four.
But I wouldn't be sitting here now without the help I originally received.
Stop loan sharks, put mental health supporters along side financial advisors offering support to these people that need it, right at the beginning!!
I just hope karma has paid back that awful woman who almost finished me off them many years ago!
Awesome story. Glad you were always a stronger and better person than that twit ever was/will be.
Well said.
I was also brought up in a poor single parent family. I had amazing support from family, teachers and friends, and I made it to an elite university and now run a successful business.
But I'll be damned if I pretend that it was all my doing, or because I'm "better" than my peers who didn't do so well.
Like you say, we need to acknowledge the help we got and realise his lucky we were to escape poverty. Most aren't so lucky and they deserve our understanding, compassion and our respect all the same.
I'm fed up of this myth that only the deserving are rich. It's utter bullsh*t in my experience.
don't blame others for being a chav. If you can't look after the, don't have them
@@shankhan-yg1tt the guy you are addressing is well qualified and has a well paid job. You're desperate attempt to feel good about yourself by denigrating others is kinda sad.
@@michaelrch I have a private education, my own flat in Cambridge and Prague, a wife and a daughter, good money and a job that I love so jokes on you. Ultimately, chavs reproduce without any regard for the future and that's what's sad
These debt advisors speak with so much compassion. I have friends here in the US who've been treated like trash by people who are supposed to help them.
Truth 🎯
I am working poor and asked for help and because I'm Not on Drugs or an alcoholic that they couldn't help me 👿. But they will help them with everything Housing/ food/ clothing/ cash, etc 😡. Absolutely disgusting. (Washington State).
Move. My daughter moved her entire family during covid.
No one gets in these situations without making horrible lifestyle decisions
@@ronaldreagan-ik6hz You sound like you may have gotten a small loan of a million dollars from your dad.
@@wildadventures4173 yep. That’s why I left WA after 50 years, and moved to Idaho recently
Single dad should not be talking about his problems in front of his child 😢
Totally agree. Seems does not have any idea how it effects to rest of his son's life. Can't believe what he does.
Right, he shouldn't, but when he has constant phone calls, letters and threatening banging on his windows from bailiffs, its a little hard to ignore isn't it?
I'm concerned about the children of these ppl. They are literally forced to take up the role of adults bc their parent isn't. Cannot imagine the feeling of utter helpnessless these children must feel. There is nothing they can do, yet their parent isn't coping and in the case of Paolo, acting as if their debts should just dissapear itself. I do not have enough information but Paolo didn't even look like he is applying for a job anywhere.
This is one of those reasons why poverty is often inherited, isn't it?
Children don't get a good start in life, missing childhood by worrying about money and their parents' well-being so much. By the time they're young adults, they're already so far behind that it's almost impossible to catch up with their better off peers.
No one has children hoping that they'll fail them somehow, and this just adds to the desperation.
It's very, very sad.
The sad reality of this cost of living crisis is the number of people dying from suicide is going to soar. Everyone is feeling hopeless, and some of us don't have family to help either, which adds to the feeling of despair.
The sad reality is that the Tory toffs and the bosses of energy companies and suprmarkets and banks are all laughing their tits off while the rest of the country struggles beyond belief
Or crime is going to rocket, we have already been issued with panic alarms for walking to and from work because of increases in crime.
geemill1 geemill1
The suicide rate had risen steeply, before the latest problems with the cost of living.
@@silversurfer640 plandemic
@kenneth aitchison what a stupid thing to say!! I lost both my parents in January, so no, it isn't OK, and I was pointing to the fact some of us have no one to rely on, other than ourselves. So maybe read next time before making a stupid comment!!
It makes me very angry when a parent puts this huge emotional burden on a child. This utter lack of a sense of responsibility makes me believe this is the root of their debt.
I agree. That father does not need to be Discussing his debts with his child. That kid is going to suffer from anxiety of losing the house or the father getting arrested. Those are adult conversations
I agree that you should never burden a child with adult issues, no matter what they are. I think the father probably sees it as him being transparent is a good thing. What is Paulo explaining to his son about them financially struggling and he’s not working. That’s an important example to set for your child; if you can work you work.
@@jollymollyramram9702 the guys a full time carer for his son, its his JOB. if your going to comment at least know what your commenting on.
@@paullappin106 well he's failing at his JOB of caring for his child because he couldn't provide for him finacially. you should only care for your children full time if you can afford to, the welfare system is degined only for people who genuinely need the help. paulo is a healthy working age man who can not afford not to work, plus he puts financial strings that he created himself on his young son, so it's a double failure at his JOB as a father
@@Sophie-kk3st wow, when they say full time carer that is a paid job. The government pays family to become full time carers because its cheaper than paying for a third party full time carer. The whole point of the guys sketch was to show that the money coming in from the government for the paid post along with all other benefits does not cover the basic needs of the household. That's the whole point of the sketch.
The people helping are lovely
It must be depressing to work in such call centers...each day go home with endless hopeless and helpless real human tragedies.
We're at the stage in this country where people are working full time 45+ hours a week and STILL can't afford to live. F*cking madness.
I can relate !
It will get much worse. After all the years of plenty there is always great fall....and war in Ukraine not helping.
People work for sht companies and get comfortable, then complain the government needs to do something.
People need to stop working for sht companies.
@@terranaxiomuk yeah cus that’s got loads to with prices of gas and electric going up and food intelligent as fuck you
@markyg8946 Improving your life has everything to do with costs.
Why would a single Dad quit his job?! How does that make sense. He put himself in that situation and drags his son in all the stress.
My husband, and me for that matter would do any job if it meant we could food on the table for our children!
That boy is at school why can’t Paulo work a part time job when his son is at school?
I’m a single mom,I have 3 jobs and I ain’t even thinking bout quitting cause I have a child to feed,clothe and bills to pay
Idk how ppl think they will survive without an income
Absolute madness
My Aunt took in 5 of us. Our birth mother was mental. Besides taking us in at 20 years old. We ranged from ges 1 thru 10. Besides us she took care of our grandmother & grandfather who had Alzheimer. My grandmother cooked & cleaned. Took in washing & ironing from well off family. Besides my Aunt their was a total of 11 relatives in a 2 bedroom & 1 bathroom. All my Aunts helped with ironing after getting off their full time job. My Aunt who took us in worked full time & always worked 2 to 3 part time jobs. Never complained & never criticized or talked bad about our birth mother. Never complained about working so hard & having so much family responsibilities. She had a serious boyfriend but he told her he wanted to marry him but she would have to get rid of us & stop supporting her parents. This is before the phrase coined I’m a single parent. She laughed at that & never ever described herself as a single parent. She said I just see myself as a parent no need to use that phrase. The phrase she did use was most of the there is usually more than one solution to a problem. Stay calm & sit down & think.
You go momma ❤❤❤❤
How sad that Paolo has frightened and stressed his child out so much over adult issues. I understand that he's in a bad spot but to traumatize your child by putting something that heavy on their little shoulders is just wrong. My kids never knew how broke I was. That's not their issue. I really feel bad for that child on so many levels.
His son is at least 10 and going to school. Paolo needs to be working.
@@whydoncha Hell, I was working at 10 cutting grass and doing chores to help my family. Paulio and the boy can both do more.
Why isn't Poalo working. Why is he stressing his son. Nothing to do with his son not fair son has to hear this
Yer kids knew trust me….
Impressive, you are clearly a very , very strong person , I wish I was half as strong emotionally as you . Credit to you.
I don't remember a single lesson in school setting out the dangers of borrowing at interest. I know it seems obvious but I know so many people who got into arrears early on in their working years due to fairly predatory loans and credit deals. It is also a cultural thing. Our grandparents generation were far more restrained in their spending habits. The bottom line is that they want us in debt, from student loans, mortgages and endless spending - a trapped and dependent population is easier to manipulate and exploit.
Good point, I think people really don't understand how the interest builds up and compounds debt, can only assume the percentages end up not meaning much when someone truly needs money.
The government don't want kids to learn about money and personal finance to keep everyone on that hampster wheel of credit cards and loans.
Yhhh we only had one financial lesson in secondary. We have some at uni but they’re very voluntary and basic. Everything I know about wealth building investing etc I learned from the internet and I love giving people advice. My cousin just learnt about what a mortgage was after I told him and he became really motivated to own from 17. 😂
@@JayJay-loz And to keep them renting. As a Londoner basically every gen Z and Millennial rents and it gets worse for every generation. I’m sooo passionate about getting more Gen Z into wealth building and owning property etc.
We need Islam in UK
i was totally broke when i was five years of age and the British took care of me for two years in london. i haven't forgotten it.
We have entered into an era where it is absolutely not ok to give up your job, especially if your on your own with children. Making sure you have a roof and food on the table must be a priority...if you can sustain these things then the rest can be worked out.
9:42 'Paulo gave up his hotel job 4 years ago..'. Well, there's the issue. He's waited 4 years until things got to this stage, that's hardly the behaviour of a responsible parent. He should at the very least got a part-time job. He's able-bodied, comparatively young and has no excuse for not taking control of the situation.
If he takes a P/T job it will come off his benefits, that's always supposing that there are part time jobs available which fit looking after his son.
Think there is more going in there, like so many it could be mental health ( the real kind )
You have a child to be able to go out to work you have to pay someone else to be with the child and having a child is not as easy as having a dog. 10/15€ x 31 days in food is already 465€... Not commenting that this is just the tip of the iceberg that you need for have a child.
@@jimthorne304 he could easily do deliveroo or just eat
@@shomshomni2314 Have you looked at the requirements to do Deliveroo work? Bike? Scooter or car? Insurance for food delivery work? Licence? Mobile phone?
You also need to show that you have a right to work in the UK.
So Paolo having no job, buying toys and expensive materialistic things. And expecting everything is going to be fine? This is the level of sheer madness one can have while being lazy at the same time.
Way to blame an individual for a crisis caused by the "free" market capitalists! People like you are part of the problem.
Paulo, the dumb.
Yes I saw that too. I stayed away from slavish conspicuous ostentatious lifestyle unless your footballer or movie star you can't live that glam life. Average folks pretend to be rich are destroying their future.
Mateena is too old to be in school. It’s sad but she needs to quit school and work full-time.
@@susanclaire901 nope
It’s like it’s said, if you owe a Bank 100.000£ you have a problem but if you owe the Bank 100.000.000£ they have a problem.
The one thing I learned when struggling was that if you contacted the gas and electric companies and explained your difficulty in paying a bill, they would look for a solution to help you break the payment down. It helped me out many a time. If you face it at an early stage it can be minimised. It doesn’t help with everything but can help alleviate some of the stress. I grew up in a single parent house, mum worked 2 sometimes 3 jobs to help keep us afloat but she still fell I. To serious debt. Council tax was one as was credit cards. It put a lot of stress on her and she thought she’d never escape it. Even in her latter years she would pawn jewellery to help her out. It definitely instilled a fear of debt for me but I know full well how close you can come to being in that situation. Defo had times of panic. Reaching out to these supports is crucial for anyone facing this fear.
You know the situation is grim when even the CAB staff say they need to support each other. You can also feel stress transfer onto these poor children.
Yeah and the whole lot of it is your own fault, as a British society, you have no idea about infrastructure, economics, society, how to integrate, nothing. I have no sympathy, I do have sympathy for the many poor countries the UK has stolen from, caused wars in then left their countries with nothing.
You forget all these crimes and things your country have done. Why are you so ignorant please?.
You made this problem yourselves as a British society, end of. Dont blame immigrants for your mess, they saved your country you arrogant and ignorant Brits. Dont expect sympathy when we have a World in chaos mostly caused by Western aggression and greed. No chance as a Maori will you get my respect, your days are numbered.
It's very difficult for us (cab workers) to give advise to people when a lot of us are in the same position. The wages are dire. But we don't do this kind of work for the wages...
@@jamesuk283 what do you do it for then 🤔
@@Johnsonjack7832 because I like helping people. Why do care workers, teachers or nurses do their job? It's certainly not for the wages... 🤔🤔🤔
@@jamesuk283 it's not helping tho is it , a nurse and teacher is completely different
“Cost of living” it’s such a horrible phrase. Being alive should be a gift, no a burden you have to pay to exist in. Such a sad state of affairs.
I couldn't have said that better myself.
It should be called ‘cost of surving crisis.’ People aren’t ‘living’ anymore it’s horrendous 😢
We live in a time of abundance yet are led to believe that we live in a time of scarcity. It would be nothing but wilful denial to not see that this has all been engineered to be this way.
There has always been a cost of living. No human made it that way. In caveman days the cost of living was never ending hunger.
I think this is what the state want slowly “ Serfs “
I had a young brother like the boy once and it really breaks my heart to watch him in that misery... Looking at his lost father.. Such faith is horrible for a parent, everyone can slide into it, no matter how prepared and safe you think you are. This is one of the reasons I'm child free. My heart would not be able to endure such misery creating suffering for my child.
Caseworkers are the glue that hold communities together. Believe it.
How on earth can the guy Paulo decide to quit his job and live on £600? He must be a deluded person to think he will be OK.
Paulo annoyed me. Does he think he can just sit about on welfare and everyone else will pay his bills for him? Get a job Paulo. You've a kid to support. A kid who is old enough to be at home by themselves for an hour or two after school until you get back.
I was surprised by Paulo’s situation. His child is school age, so he can work within those hours. Also, was his son sitting in a gaming chair. I would’ve thought that they were an unnecessary expense.
I’d be surprised if most of these people aren’t receiving additional benefits, such as Housing Benefit, Council Tax Benefit, Child Tax Credit, Free school meals. Wouldn’t all these be included into the Universal Credit.
@@mrscreamer379 Well Said...
So what are these millions of single mothers doing different. Some of them always seem to have money.
Agreed. Paulo was not the best example of someone below the breadline. Advice for him is get a fkn job!
In the United States growing up my dad warned me to stay away from credit cards.
Wise words right there
We've got one but we lowered the credit limit on it. Pay no money on annual fees for it and because it gets paid off when we use it (rarely - only for online purchases) we incur no interest. They can be useful if you have the discipline to manage them correctly.
Wise advice. I have one credit card and I don’t use it very often. I pay it off immediately after I use it. I have no debt thank goodness but feel for people really struggling.
I have two sister's.
One is a single mum and works weekends and the other one doesnt work because of anxiety.
The one who doesn't work gets alot more money every month.
Its scandalous.
Your other sister is lazy
I don’t pity single parents at all. You chose that man, you chose to have that child in poverty.
I just pity the child
I’m not surprised if your sis is only working weekends. That’s nothing. It’s madness to only work weekends with a kid.
Noone has mentioned smoking. The cost of tobacco has had a huge impact on cost of living. You can only get pouches that are 30g or 50g and those cost £30! I gave up smoking and now l break even each month. Im not saying that everyone smokes but just have a look at your local food bank queues and youll see the majority do. It is unaffordable! Give up smoking and it will really make an impact.
Paolo needs to get a job. Any job. Who can afford to live without working?
I feel for his son .
Exactly, he is completely capable and his son is in school most of the day. Work from home and flexi-work positions are now more available than ever. Get a Job.
Yep, people making a choice not to work and then complaining. Any part time school hours work would help
@@grazzahart Exactly. It’s the oh I’m so poor syndrome. Put your big boy pants on, have some self esteem and get a job!
Benefits Culture created people like Paolo . The " Government '
should provide them with everything . The idea that they might actually get a job and pay their own bills is unthinkable .
And , what's worse ...he has passed on that attitude to his son !!
The country has accustomed citizens to care. As a"rich" country,it has created a huge system of benefits,wich is now collapsing. Citizens,instead of relying on the "country care",should count on themselves. The problem us that they never have to and don't know how to do it.
That bailiff should be disciplined for lying about the legalities to a client, bullying, harassment and coercing a client into a clearly unsuitable payment arrangement. I don't know how people like that can sleep at night.
Quite easily.
When his own income is tied to making sure people pay no matter what then I can imagine its pretty easy for him to overlook
most bailiff are scum, bullies preying on the poor
Disciplined? Are you serious. Should be a minimum 3 years in prison. Or perhaps you think bashing vulnerable people (like pensioners) over the head should be 20 hours community service.
In a bed that he's paid for
Instead of buying multiple gifts for Christmas and birthdays Pay your bills first !back in the good ole days us children were thrilled to get a gift at Christmas and we normally received one gift for our birthdays
No offence but Paulo obviously needs to go back to work. Rodrigo is clearly fine by himself for an hour or two after school.
As I became an insurance broker, I was shocked to find how many well qualified people did not understand the effects of compound interest and became victims of debt. It would help if this was taught in high school but many of my clients were teachers who should have known better. Dept is a trap.
One "they" want us trapped in, and many already are, with rented homes and £1000 per month cars on the drive, and EVs will increase that number 10 fold and it's fully intentional..... You see debt is control, people don't speak out, people don't protest, people don't hold powerful individuals to account when they're deeply in debt.
Debt not Dept which is short for department.
Debt is trap but not the long term debt. The long term debt is creates with schedule to close that debt
@@fionagregory9147 teacher spotted... who should know they must teach 5 extra subjects in extra cirriculum activities: finance(micro finance), diet (food and oils), driving (before leaving school), labour market oulook (the future) and manners of being law abiding citizen
No. People make bad choices.
Such a horrible situation to be in. Recently my friend ended up in £8k of credit card debt, maybe doesn't sound like that much to some but for him, working a minimum wage job, it was crippling. He literally could not earn enough to keep up with the payments, he was completely screwed. And when he called up his bank for advice they actually suggested he declare bankruptcy! Insane. I told him to call citizens advice instead and they got him set up with a debt arrangement scheme that helped tremendously. They do such good work there, but it's a shame so many people need them in the first place.
How does your friend have a credit card on minimum wage to begin with.
I've been on car finance a few times, but never touched credit cards and never will. Never doing finance again, if I need something I'll buy it outright. (Notice how I didn't say want?)
@@shanepatrick641 Credit card is very important if you wanna take loan to buy house. People are just idiots and spend not their money on things they dont need
Even people that are good at finance find themselves buying things they don’t really need. It happens.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in UK.
The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop.
In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor, requires guidance at some stage.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $850k.
Please tell me how can I connect to your advisor. My funds are being murdered by inflation, therefore I'm looking for a more profitable investing strategy to put them to work.
Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. ‘’Camille Alicia Garcia” is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals.
I work for one of the large energy companies answering calls. It's hard, I wish I could help more. But we're all suffering the same as yourselves. We get blamed for a lot for the issues, but we are in the same boat.
Respect for Mateena working that late shift and also studying for a demanding university course. She needs better support from the Government. Had she decided to have children and not study or work she would qualify for more support, which is screwed up.
University have hardship funds.
Does hers? Have you checked @@investmystonks7048 ?
I’ve said it before and I’ll say it again. The Tory government don’t want to support people in education. They don’t want people to be educated enough to realise how full of shit they actually are.
@@ghusaguatama every uni has hardship funds.
Tories have done well for me. Helps if you take responsibility for life actions and work hard instead of blaming everyone else.
People without kids need less support than those with. Simple really.
Students don't pay council tax.
I don't understand how any parent could choose to not work or choose to reduce their hours whilst in crippling debt. The burden of worry, anxiety, embarassement, responsibility etc that they clearly pass on to their kids just isn't right.
yeah and make it sound like those claiming real debt is the one at fault. these people are stupid. It is different if they have a chronic disease with medical bills to pay. Mental health is just becoming some woke excuse NOT to work!
Fair point, when you don't work you get isolated from reality, you get depressed, you start to drink, because why not, no one relies on you, you're only responsible for yourself and your kids as the extension of yourself. Yea, kids will internalise your anxiety and depression.
Because if you're a parent living on benefits, and then you get a job, the amount of benefits gets greatly reduced, now you're working part time but you're only a couple of quid better off, or sometimes worse off. Who wants to work alot harder to only have an extra few tenners.
Yes, when you are working it takes your mind off your problems and gives you less time to brood. Universal credit should allow people to earn more from part time work. It would also stimulate the economy.
The lady who reduced her hours had lost several close family members. They likely helped with childcare when she was at work, and when that was no longer an option her wages alone couldn't justify the cost of childcare. The hours she does still work are probably when her kids are at school.
Im a 35yo female living in the Uk. I watched my single mum of three just about survive bringing us up and that was with her working full time and us chipping in with jobs as teenagers. I’ve put off having children because I’ve only just got to a position when I would consider my lifestyle sustainable and not constantly feeling “skint “ but how sad is it that I’ve possible lost my window to have children because of fear? Fear of the exact situation that so many of the poor people in this program find themselves. My heart absolutely breaks for all of them.
I was 35 and nearly 37 when I finally had two children, don’t give up hope💕
2024 looks like it will be getting worse over here in NZ. Now is pretty bad - food prices are double at least from just 2 years ago & our wages have not gone up. Scary.
'Paulo owes thousands of pounds in council tax and unpaid fines.' 'Paulo gave up his full time job'. Paulo, get a job!
Gave up his job 4 years ago?? His kid is anxious + depressed, bad plan.
@Tipperary757 I'd imagine Paulo's kid seeing him struggle so much in front of him is a significant contribution to his anxiety.
It doesn’t mention anything about Paulo having an illness that’s stopping him from working he is just looking after a child that’s in school and not such a young age, for me he should be working when the child is at school. The thing is can he look into his child’s eyes and say yes I have done enough for you all this suffering I put you through having nothing I tried my best I am not so sure he which is by far the most painful but then maybe he can and he tried
@@Iamhudson89 I was gonna say similar.
People are always quick to judge without knowing someone’s back story.
I’m guessing his partner departed in a traumatic way?
She could’ve left/died from Covid? Or anything.
I’ve learned the hard way in life we are not qualified to pass judgment on others.
Especially when we know nothing of their journey.
It's crazy a would rather work full time to provide for my kids also he needs to start claiming cms from his ex to support the kid if your on UC you can't live you have to work or your fucked
What's most sad about all this is that the children are involved. They're too young to be dealing with these matters and are completely powerless to do anything about it. It's unnecessary and immoral in my opinion. Poor things.
Yeah must be real scary strangers barging into their home making their parents upset and taking their Christmas and birthday gifts or valuables I heads Bailiffs will take consoles and games plus phones and tablets maybe collectors items plus bikes and that but don’t think they can take kids toys like lego or plush toys dolls or that unless their valuable as Iv never encountered them thank God dunno really what they will take
The problem is their parents cannot hide it when there are people knocking on the door and calling late at night, as you can see they were visibly stressed in front of their children whilst trying their best to give them a good life and not to worry. Whilst we can be grateful if we have never experienced this first hand just be mindful of how stressful money can be when you don’t have enough to even buy food and clothe your children, this shows and some kids understand it way too young because they see their parents aren’t happy and they sometimes don’t have the same lives as other kids at their school
@@Quackramo If those parents are able bodied - when did they not find another way to bring in money?? I don’t get it! I would have to be hooked to an IV machine before I would give up & make my kids have to deal with that b.s.😡
@@anneshields2010 Those bailiffs are scum and the stupid companies they work for! Leeching off us poor people.
Those kids will know what debt means ... and that might turn out to be a very useful lesson for them in future life.
The problem in the UK is lack of affordable housing and the rich taking more than their share from the economy
Stop blaming others and get your own shit together
Well, Paulo clearly has a better standard of living than I do - looks like he even has central heating... and I work full time. I just make sure I pay what needs paying and don't buy the latest football strip, takeaway or upright fan etc.
You're not a foreigner like Paulo.
Oh shut up ur talking crap
You clearly know me SO well... 🙄
Why does nobody ever talk about wages being at a standstill while the cost of everything sky rockets
They do. It’s all over the news and media every day. Everyone’s talking about it.
They just say get a better paid job ! I guess that is the answer !
@@chrishart8548 a lot of jobs will be placed by robots eventually, they're spelling it out to us.
@@myview2543 there will always be work to do. And a lot of work robots can't do. People need people that's all we need. We Don't Need robots and endless stuff.
@@chrishart8548 What work can't robots do already, and if not quite yet, then on the cusp? Combined with AI, human labour will not come close to being able to compete in the marketplace. So, maybe in another world will this not happen, but if we remain on the same course in the same fundamental system, it almost certainly will.
And unfortunately, wanting endless stuff is a bi-prodct of basic biological imperitive of wanting or needing which is a survival mechanism - you need to grab stuff that looks useful because it might help or nourish or protect you or whatever. Just like our minds are sponges... why the overload of information is problematic for us... too much..endless...Now we live in an age where we can produce endless items the problem we develop is inevitable.
A perfect storm is brewing in the United Kingdom.
Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about £300k which has been sitting duck since forever with zero to no gains.
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skill set is based on going long and short at the same time, they employ a profit-driven strategy based on individual risk tolerance...
My advisor is *‘’SOFIA ERAILDA SEMA’’.* She’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
If you ever see a comment that recommends someone to help you invest your money, accompanied by comments from other people saying they've used the same person, ignore or report them. It's one person with multiple accounts.
It's by design if you haven't figured it out yet. The "refugees" packed with foreign money will be picking up all the confiscated properties on a song.
Just keep taking more migrants, I'm sure that will help.
Wo*st thing is the royal family's expenses are covered under the Sovereign Grant and the latest official figures put that at £86 million ($106 million), or about $1.60 from every U.K. citizen. But they do not have money for their poor people.
Young children should be shielded from adult problems as much as possible. I know from experience, and it still affects me as an adult.
financial responsibility needs to be taught as a subject in schools
Also spelling apparently
@@bayquell7587 Speech to text or autocorrect could be the culprit here as well. It's better to look at the whole picture before drawing a conclusion seeing as the most difficult words in the comment are spelled correctly.
@@bayquell7587 you're right. it is extremely crucial to be 100% immaculate in your communication in an anonymous comment section. great point.
& government
@@bayquell7587 .
I lived in Britain for 10 years and the extent of borrow and re-borrow was crazy. The attitude was that money would keep coming. Such a Cavalier attitude to taking on debt.
Yeah most people on loans and credit cards. UK is also bad for getting people started on gambling early and getting them hooked
@@antzooma When I set my VPN to Britain (from somewhere in central EU which is closer) I immediately get brain-dead gambling and "win this lottery" here, like dozens of times more than any other country.
I refuse to believe the average UK citizen is dumb/gullible enough to fall for such schemes. Basic probability of outcomes should be taught in school. You don't gamble to pay the bills with it, you may do it as a Hail Mary when the alternative is immediate bankruptcy, but even then you should bet on stuff that can actually take off within a short time, like leveraged stock options or even certain (obscure) crypto or physical unicates. Of course this is bad financial advise, but much better than resorting to the average online casino (not for amusement).
Companies do it but they got emissions and get to make loans with zero interest. Least to say people are willing to just give money as the bank give money to the company. The bank doesn't give money to private people and the main reason why we're in such a collapse is that companies pay zero interest on their loans while private people pay loans. The companies are able to sign bankruptcy, a private person signing bankruptcy has nothing to expect of any recovery as the society has shaped it in a manner that private people makes loans in their name and school don't provide the information as the least intelligent are promoted to the least paid labour.
The interest rates only affect the private sectors. Private investments and private incomes. The companies don't pay loans, they have bonds and these bonds says the company is living on a time limit. Once the time limit reached the company goes bankrupt while the founder has no debts, no loans and no obligation to pay back as the debt is on the company.
Spot on. I lived in UK for 12 and short term borrowing was not uncommon for me either or people around.
Their is no bright vision in shithole countries like the UK. Come on man, the whole place is 1 depressing alcoholic mess.
Omg, i know EXACLTY where matina lives. I knew i recognised the area. I used to walk past hers to go to school every morning. I literally live near the asda she works at. Omg, this hits home real hard.
Very sad and depressing
Paolho is broke, but yet he buys ready made pizzas and drinks a soda instead of water. Since he is not working he would have plenty of time to make his own pizza and iced tea for a quarter of the cost.
I feel sorry for his son. Not because he is starving, but because he is being taught the wrong values.
And father of such a big boy he could easily take a job, but obviously he would get much benefit then... this pathology should be changed years ago and make people to go to work not live of taxes other people paid working hard for 40 or more hours 🤯😡😡😡
I feel sorry for his son too, fyi ready made pizza like that is less than £1 in uk suoermarkets, its cheaper than buying, its not soda it dilute orange cheap as chips also
That ready made pizza is cheaper to buy than making your own. Those pizzas are about 1 quid
no but those kind of pizzas are almost always very much cheaper than making his own
Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues.. well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60. I need suggestions on what investments to make..
I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@kenanporubsky2122 Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@@bob.weaver72 My advisor is Catherine Morrison Evansshe’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@@kenanporubsky2122 I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
While it makes me sad to see so many people in trouble financially but it equally make me frustrated when people choose to work less or not to work and think this will help them - not all but some people causes their own problems
Some people live beyond their means. While others are savers and have a million dollar house paid off and plenty of money in the bank!😉
Exactly
@@colleenpeck6347 what would you suggest for Mateena who’s a full time student and works nights and the council are taking £70 per month from her £700 earnings. She doesn’t go out, she can’t afford gas, electricity or phone credit? How would you suggest she ‘saves’ or works harder???
@@colleenpeck6347 ikr, if you're homeless....just buy a house....duh
@amosamwig8394 I own a $1.2 million home that's paid off and a 55-foot sailboat that I am currently on . I saved and didn't live beyond my means. Now, at 58, I am happily retired !😎
I might live in a so-called 'third world / developing country' and have better living standards. Even people from wealthy nations started moving in here because it was cheaper and they could live in very comfortable and beautiful places, but now their coin is becoming less valuable and they're moving out. I hope things get better for the UK, that nation holds a special place in my heart.
He gave a job up and wonders why he has no money? Am I missing something? Isn’t that what would happen?
Right? Idiot isn’t he !
He also spends his government support on presents
I was brought up in poverty. The lesson i learned was that if you borrow to buy a house, it is an investment. All other borrowing will plunge you into debt. If you NEED something, save for it. If you WANT something, WANT will be thy master.
Yes off to buy a flat at 500000 right now!!!!
My father thought the same but my mother was always borrowing and in debt. I was in debt many years ago but I didn’t want creditors to have power over my life so I paid off my debts and now I work, save, and only buy what I can afford. However, I think having children or a low wage is really difficult to stay out of debt when expenses go up.
Tis true. Still, people's situations are different, and not all are simply in debt!
Most of these people just don’t think before they borrow …no sympathy with idiots
Lulabell : I agree - many don't know, or don't want to know, the difference between Want and Need.
Depressing 😢
Imma be honest; in every instance these folks could all increase the amount of hours they work-a standard work week at uk min wage would pull them out of the debt spiral. The only potential exception would be Paulo who has a child young enough to still need care outside of school hours, but even he could work while he is in school. 6 hrs per day, 5 days a week would give him ~£1200 per month less taxes would be £1k (a roughly 65% increase in his current income). Carly’s eldest is old enough to help with childcare of the 7 year old and (though her circumstances are sad) she could easily increase her hours. Same with Matina, who has no dependents to speak of. The increase in time worked would not be to unsustainable levels; 60-80 hrs per week or more (which some people do mind you). The cap of the calculations are a 40 hour work week. So it’s tough to see people going through this hardship, but I struggle to see how it is not self induced after a certain point. Bad stuff happens to folks all the time and falling off the horse is okay. The implications of staying off the horse is what this documentary focused on.
"They have asked for meteena to write to them ... but have no record of her doing so."
Did you see how Meteena had organised her bills during her call with the council? Neatly, in order, cascading with the date showing on each one. Each bill crisp and well kept. This young lady is extremely well organised. There is no way she hasn't contacted the council via letter if she was required to. The Authority is our enemy.
the council do not care about us.
Well I can tell you from experience that Manchester City Council are as useful as frying pan made of ice.
If you ever send a letter to the council or DWP for any reason always send it signed-for. I know it costs extra and you do have the hassle of going to the post office for that, but you are given a receipt with proof of it being sent as well as a tracking number that will act as proof that the letter was signed for and received. They will always try to deny receiving letters if those letters inconvenience them, best to have that proof there.
@@rempanda they receive it but take 6 months to respond
She should seek help via the university, they must have counsellors who can source support
They don't want £1800 back off Carly. She hasn't paid a penny back and this £1800 is the result of agreeing to terms and breaking them.
So desperately sad, everyone featured are normal, well articulated, every day folk....... no one deserves to have to live like this.
Council tax is crippling families.
Paulo seems to think the society owes him a living. The society is not an imaginary thing, it is you and me. I cannot afford to stay at home and look after my children, so I go to work. But Paulo quits his job and expects me and others like me to pay for him to stay at home and look after his child. For the next ten years! This makes me feel really bitter, that the system allows this.
I am sorry for the boy, though. He sounds smart, but what chance in life will he have with a father like this?
As much as my heart aches for everyone in this documentary, I have to wonder where the financial literacy education is in the UK. Also, I worry that Paulo is over-sharing the financial stress that he’s experiencing and that’s going to have long-term consequences for his son. I hope everyone who participated can climb out their situations.
I'm wondering why he isn't working now or even p/t unless of course if he son has special needs. But he looks like a healthy lad and dad should not be sharing this kind of stress on his son it will have tremdous impact on him...hopefully a good one. I wish them well it's distressing watching this but it's a must!
@Culture Vulture Papi Travels I don’t want people to suffer, but I won’t ignore that quite a few folks on the show made choices that were untenable over the long-term & then went full ostrich-mode when the mathematical reality hit home. Wishing things were different or someone else was in power has never paid any of my bills…
I agree with you about over sharing with his son. My parents shared all their financial and emotional problems with me as a child and teen. Not healthy. A child or teen cannot help their parents with issues like that.
Financial advice bit here: One thing my parents incompetence did was make me financially aware from a young age--never cared about keeping up with the Joneses and paid debt off quickly, or in the case of a mortgage, on schedule. Oh, and don't quit a job until you have another. Unless you've saved plenty of cash--I often hated my work but stuck it out until I got another gig. As I got older, I was able to just quit and take my time looking for something more suitable. Phew.
@@PreppyAnglican I agree with you. It's not that I don't have a heart either, but I refuse to offer unthinking and unending sympathy for people who make bad decisions. I sympathize with their overall position, but not for being saddled with interest rates from loan sharks. That was a bad choice to make. It shows short term thinking and that is what got them into trouble. I'm not saying it's easy, but if you are hard up, you have to impose harsh austerity on yourself. You have to be disciplined and lean. The trouble is, a person who is usually capable of that, would not get into this situation in the first place. We are a society who want an easy fix, but we are going to have to toughen up. In the long run, this hard time might be of great benefit to us. No more new Iphones and list of pets to feed.
The girl living on sugar and Coffee is another example. Drink water and at least eat bread. Coffee and Sugar is not sustenance. It's false energy.
@@argopunk I know what you are saying, but this could go either way. His son could grow up really fast and become very financially savy. It might be a real education of value. I saw my parents go through financial struggles and it drove me to work hard and be more careful with money.
Im from Norway and I have lived here in the UK for 7 years and I am shocked 😢
I struggled for a few years. Luckily I insisted myself to keep my job plus partimes, and really cut down my expenses for cloth and anything expesive . At the same time I alway save third of my income, then for other things. I didn't buy coffee, tea or coca, only bought discount food, but friends were doing the same, so I wasn't depressed. Thanks for friends, now everything is much better now.
I am amazed by the confidence of Mr Paulo and people like him when they “demand” their entitled benefits for choosing not to work. What an amazing example they r setting for their kids as fathers
I totally agree. Like what kind of entitlement is that? You want other people to pay your way while you chose not to work because you have child.
Screams laziness, plenty of job that he could do part time / working from home
Totally agree.
I was having trouble in money (not debt) just not enough to go around from a factory job I had.
Then cleaning.
To day I work at home on a computer (this one I am on now is for play and youtube) but have another one supplied to me by my employer (free of charge).
I am on a nice salary of £25k a year, never had that outside and in any job in the past.
Also been saving just £65a month for just over 3 years now.
Never had a credit card.
Never took out a loan.
Did not go to other countries for holidays (apart from Guernsey).
Never did I have a mortgage.
Got most of my furniture from second hand dealers and family / friends.
Never lived beyond my means.
I find these this type of stuff really frustrating as you hear the same things over and over again. Single parent family, bread winner isn't working or isn't working full time, don't course correct before things get to the point where they're really bad. Problems like loan companies and the cost of living crisis hasn't sprung out of nowhere. There have been so many warnings about these type of things but people still seem to have been really caught out.
@@LoneWolf-rc4go Exactly! How do you simply not have a job and expect to live?
I feel for Paulo's son, he's going to take on so much of that trauma. I pray he's okay. I think Paulo could get a job, even part-time? Amazon pays £10 an hour. In a week he could take home £400-480 and their working schedules are very flexible.
a relative works for amazon and they clear this much at least per week. They always have overtime available for really decent pay, but outside of that they are a 4 day work week for Full time, and are very flexible in terms of working part time too due to various needs and commitments, and have emergency leave solutions in case you need to leave work, no questions asked. it's really not as bad as most people make it out to be, although it is physically demanding.
Being the only parent, he can't afford child care, and he wants to make sure his child is looked after. He is to young to be left alone at night. They could be living in areas that easily get robbed? Where 9 to 5 jobs are not readily avalible? Not the right exsperience for work?
Its not all black and white.
Not to mention, every pound you earn with a new job, 55p is taken from universal credit payment. So you don't get much of (or any) top up with support.
So the thought process is, I would rather spend time with my son, then work a job that will leave my child parentless at crucial times in the day, to be worse of yet again, both financially and physically.
£10 a hour is rubbish. Do they help with the fuel and vehicle?
@@captainpugwash7174 It's better than doing nothing. And yes they do subsidize travel, and they have a bus service. And also, you can work your way up the ladder. I know people who started as warehouse associates and are now working in the corporate side of Amazon. It's all about applying yourself.
@@zack7438 thats good to know. An afghan refugee family that I support, got housed recently and the dad was so thrilled to get a job there and support his family. He's always talking about getting something better next and quizzing me about mortgages so hopefully he'll do well there or in his next role.
The area I live in has a lot of deprivation and some of it is quite bad and genuine. But it's got to be said that some of them have no idea how to keep costs down. I've been in some houses that have these problems and all the lights are on, nothings unplugged, the tumble dryers going and the suns out, take one or two showers a day. Many of them get some food from the foodbank but seem to live on takeway the rest of the time.
I went through a tough patch and used to cook a big pan of stew every monday, reheat it and have some every day, never had a light on or anything plugged in unless I was in that room. I used to pick Dandelions and make wine of it, pick mushrooms( got to know what you're doing there), you can do a lot with Blackberries as well.
You can live reasonably well on a little if you know what you're doing.
Totally agree. When someone asks me "So how much your dinner cost?" Then I say "I made hungarian chicken paprikash with pasta. It costs me £3" and then the answer is :"Okay, my McDonald's dinner is not much more. It's only £5". Well yes, his Mc dinner is £5 and here the family of three is eating two days. So it's 6 dinners for £3 and he's spending £5 for just one dinner. The problem is that it's not possible to explain to someone who doesn't want to cook
The way she was going on at 42:11 i think she was expecting them to just write it off,,,,,,thats not how debts work dear🤔
I bought my house in 1985 and paid for 25 years to make it mine. I did it to prepare for old age and it was not easy but I was young when I started. When you're young you can recover faster from sickness and you can work your ass off. I knew I was never going to be rich, my focus was on not suffering in the future.
good idea, my mortgage look longer but I wanted smaller instalments so I would have a better quality of life. It is paid off next summer.
What does that prove?
Live just for the future.... What a beautiful life you had...
So the solution is to build a time machine, set the dial for 1985 and buy your own house. Obviously buying a house is just an impossible dream for young people now
@@grottythumber6226 My yearly income in 1985 was 34,000 a year. It was not easy as I have expressed, it just became easer as time went by. I barely qualified for a 123,000 loan at the time and my interest rate 12%. It's making the sacrifices to get what you want what I wanted to express in my comments but being 1985 or 2022 nothing comes easy everything being equal an it is.
Seriously heartbreaking. I was in pets at home today & the cashier told me she had to call her boss to ask him to pick her up because she had no money for petrol.. I might not have savings but do have enough to get by, counting my blessings more than ever watching this!!!
Then she needs to make cut backs on less essential things. People have gotten through much worse times.
Why cant she take public transport? Also sell the car if you have no money for petrol, cut back on meals out.. i’m sure she would survive just fine if she made some adjustment but no she calls the boss to drive her around 🤦♀️
I walked over 5 miles to work in Manchester, to work a night shift, 5 nights a week.
@@anthonyclegg1511 respect the grind there. Well done
I don't know the lady's personal circumstances to comment to these replies.
They also need to teach people about emergency funds. When youre well and okay, put away some money because the future is unpredictable.
HVALA ZA ISTINU
One of the worst feelings I've ever had was not being able to pay my mortgage. Literally I felt a weight on my chest from the anxiety. I got evicted and it sent me into a 1 year journey back to proper housing. It was my own fault, but when you get to the point you can't work enough to dig yourself out that is the worst. This whole Christmas needs to happen crap if foolish too. If you can't afford lights christmas in its traditional form should happen. Don't stress yourself to buy non necessities. Bake gifts. Make gifts.
Exaxtly. The best gift man could give his son is an explanation: 'Son, I can't get you any gifts and its my fault because I was careless with other peoples money and couldn't pay them back. Don't be like me when your older. Don't take other peoples money, work for it and earn it.'
But if he had any vision he'd be practicing this message himself.
We made the gifts and spent as little as possible this year. We spent more money on modest food - still got some leftover ham from Xmas in the fridge (going on the BBQ shortly) :)
Wisdom here. Xmas is a commercial mess and it should be kept at home more.
As bad as it must be not being able to pay mortgage i spin it the other way - I work 40hrs aweek and have done for 20 years - nowhere near being able to get a mortgage. I think you are in a better spot that you know
The cancer is called "social democracy, welfare state." All European welfare is a big lie, all based on debt.
The one thing that strikes me about most of these people is that they don't seem to know how to cook even basic food. Soups are especially easy to make from fresh veg that you can often buy in cheaper lots. I've been in a forced debt situation and cooking good stuff from decent ingredients sourced in cheaper supermarkets was one thing that made me feel good about myself.
Exactly. I can make so many healthy things with my slow cooker and use lots of left overs
Paulo cooking that pizza….he could buy veggies, a bit a meat, and seasonings. A pot of stew/soup lasts a long time.
We have a freezer full of food that we’ve cooked from scratch with pennies. One pack of mince can be turned into so much food with added ingredients. Chilli con carne, lasagne, meatballs. Not to mention the veggies that are reduced at the end of the day that can be turned into soups, stews, casseroles & bales. Learning to book should be something family teach their kids. Breakfasts & snacks from just porridge oats can be turned into so many different things. It takes imagination, frugal food shopping & a good sized freezer. I’ve always thought your freezer should be bigger than your fridge. A slow cooker is a god send & you don’t really have to have that much in the way of pots & pans. An oven dish,A frying pan & a saucepan can normally cover most dishes.
Fast food & restaurant made people lazy to the point of they forgot that homemade are actually way cheaper than what you get on public space. I always bring my thermal insulated tumbler to bring cold/ sometime hot coffee outside hey, i saved plenty of money
These interest rates are bloody ridiculous smh... makes me mad it does. All England does is tax everything...tv tax this that. Its a bit depressing. All the utilities companies..British Gas, EDF Energy, E.ON, RWE npower, Scottish Power and SSE just are to much yea...😩😡