I aspire to a gold card, but I struggle to pay off my debts

What's your postcode saying behind your back? Mine's not being very complementary at all:

Incomes are quite low. People have average educational qualifications. Their relatively routine jobs are in shops and offices, and there is some unemployment. With the elderly contributing to higher than average numbers of people with long term illnesses, these areas are beginning to experience some need for social services.

While the younger people aspire to gold cards, interactive TV and telephone banking, the reality is they have low limits on their credit cards, plan to pay off debts, and possibly need a loan. Their spending on food is low, and catalogue shopping helps them economise. Few people own a car, with those who do paying high insurance premiums. Most get about on foot, by bike, or public transport.

The pub is a relatively popular place for eating, either at lunch-time or in the evening. Leisure interests tend to be football and betting on the horses. At home they might unwind by listening to music or reading a novel. There is a keen interest in self-improvement and education.

2005 :: Comment / reply

But I DON'T have satellite TV

These are neighbourhoods of young well-off commuter families, with many pre-school and primary school children.

These families often live in relatively large detached houses and have a long time left on their mortgage. However they have good incomes, and feel able to afford such long term commitments. These individuals are likely to be in their 30s, and tend to be professionals and managers with company pensions and company health care. They drive to work in company cars.

These families are financially aware. Where possible they will have regular savings plans and invest in stocks and shares. A child savings plan may cater for the children’s future. The high level of remortaging may indicate confidence in their ability to repay high levels of borrowing. They have credit cards with high credit limits, but their spending is not high.

The Internet is a popular channel for financial services, with e-banking fairly common with these households. On-line activity is generally high whether shopping, booking leisure activity, playing games or the children’s education.

These are young active people, taking part in aerobics, playing golf, rugby and going skiing. For entertainment they own a DVD player, subscribe to satellite TV and go to the cinema.

itchypaws :: 4 Aug :: 2005 :: Comment / reply