New headline this morning. . . . .
Barclays slaps spending curbs on customers - no matter how wealthy they are.
Click bait probably but I will have a look. Outrageous, how dare they! I decide how and when, and what I spend my money on.
Customers have told the Telegraph that Barclays wrote to say that their overdraft limit will be cut to ensure they “do not borrow more than is manageable”.
Oh, I see, it's all about overdrafts.
But the customers insist they have substantial savings with Barclays and only use their overdrafts for emergencies, or if a surprise bill drags them over their limit.
So why do wealthy people have an overdraft? Haven't they got a bit of cash put by in case of emergencies?
And what is an overdraft anyway? I have never had one. I suppose it's a sum of money which the bank can make available to you, in case you over spend and find yourself going into the red. My bank once offered me that facility. I declined their kind offer, knowing that if I used their money to pay for something, it could end up being quite costly when the interest is piled on.
No thank you. When I was skint, which was more often than not, I meticulously monitored my account with the bank, being very careful not to let the balance become dangerously low. This is why I insist on a paper statement every month sent in the post. I can make notes on the bottom for the following month. What money will be coming in, and what payments going out I have to cover. When the balance became too close to the bottom line, I cut back and stopped spending. Wait a month for things to pick up again.
So, another misleading headline. Click on it to find out the rest of the story. This is exactly why they use emotive language, to reel you in. One click and another dot is joined, building up a comprehensive picture of all our personal details.
Much to do today. I will set a video to upload, and chuck it out later when it is done.
Toodle pip. ilona
Agree that headline is emotive and not representative of the story.
ReplyDeleteI don’t, however, think that clicking on a story builds a comprehensive picture of my personal details.
I have a £3000 overdraft facility my account. I've no idea, why I've never used it but as I don't get charged for it, I don't worry about it.
ReplyDeleteNothing wrong with Barclays doing this
ReplyDeleteIt's a warning sign. Banks have crashed before, it can happen again.
DeleteYou use a credit card so it's hypocritical to say why would someone use an overdraft.
ReplyDeleteI don't use a credit card, because I haven't got one. So wind your neck in.
DeleteHa ha you've ignored my reply as you know you have used a CREDIT card in the past. You can literally search for the posts on your blog. Have screen shotted them and this one for the record as it proves your hypocrisy.
DeleteI never denied having credit cards in the past. They were a convenient way to pay for large purchases, always clearing the balance at the end of every month. . . . You went to the trouble of going back through my posts to look for references to credit cards. Good job I have the search facility on the side bar. Now please go and get a life. You are wasting your time here. There is so much more you could be doing.
DeleteI just cannot understand why anyone would do such a thing and then screen shot a post of yours from yonks ago - How strange and Clearly a very unhappy troubled person x
Deleteflis, you haven't seen half of it. The nasty comments keep on coming. Very troubled indeed.
DeleteLike you Ilona I monitor my bank balance very carefully and also have monthly paper statements sent. I keep a certain amount of money as a cash float and if it dips then I curb my spending until it’s back to the previous amount. I’ve been offered an overdraft facility but always declined because I don’t need it. The banks love people to get overdrawn and in debt because it’s money for them. This week John Lewis wrote to me inviting me to apply for a credit card with a whopping 27.9% interest rate. Why on earth would I want this. Encouraging people to get into debt is another means of control.
ReplyDeleteGood points there. The banks are in a mess. The changes they are making are about extracting more interest from their customers by offering loans which they cannot afford. They are playing on people's weak spots. Many will cave in and go down that route, thinking that the bank is their best friend for making the offer. When in fact, they are their worst enemy.
DeleteYou like to tell everyone that no one is going to tell you how to live your life.
ReplyDeleteYou live an independent life doing things that bring you joy and post photos of your adventures. So perhaps you ought to stop telling others how to live .
You haven't been paying attention. I don't tell others how to live their lives. I offer tips and advice on how they can avoid getting into debt, how they can get out of debt, and how they can save money on all their spending. Looking for yellow stickers and buying second hand, has saved me a lot of money over the years. Now I talk about the benefits of healthy eating and keeping active, for both physical and mental health. Nobody has to do what I do. People need to take responsibility for themselves.
DeleteI pay for everything I can on credit card. The balance is paid via direct debit every month and I early points which I convert to Amazon gift cards. The credit card costs me nothing - in effect the bank is paying me to use it. Win win
ReplyDeleteI am glad that you are doing things your way. Your shopping habits are good training for when they do away with cash and bring in CBDC. You will love it.
DeleteYou are very correct, CBDC will make it easy to cut off anyone's access to our money and to control or limit what we buy. I use cash daily.
Delete"wind your neck in," haha. never heard that saying for " donkey's yonks".
ReplyDeleteGood innit, ha ha.
DeleteMy Daughter recently booked a holiday and the hotel would only accept a credit card! Her debit card was declined despite a healthy bank balance. Her sister paid it on her credit card and she paid her sister back. Bank rang her to check who she was paying before it went through to her sister, asking if she knew the person despite both girls having the same surname. Card fraud must be rife for them to do this.
ReplyDeleteSorry its Sally from Devon
ReplyDeleteThanks Sally
DeleteI don't trust the banks anymore. I'd rather keep my money under my mattress (not that I have much lol)
ReplyDeleteSame here Ilona - I've never had an overdraft or a credit card. People try and keep up with the Joneses which has never interested me. People will be in for a shock when CBDCs come in and they can't spend money how they please.
ReplyDeleteIt's coming.
DeleteWide awake media. Christine Anderson.
ReplyDeletehttps://twitter.com/wideawake_media/status/1689899083937239040
Listen to Senator Ron Johnson.
ReplyDeletehttps://twitter.com/ABridgen/status/1690040333957050372