Stupid Spending Habits and Debt

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The recent recession has seen millions of people globally hit by a sudden financial crisis through no fault of their own.
And of course there are countless cases of bankruptcies and insolvencies where the reason is something entirely unavoidable.
But how many bankruptcies and debt problems are related to our own bad spending habits? We live in a very much consumer driven society.
Credit has been available on tap, though less so since the recent recession and we can buy things before we even have the money for them.
Couple this with the fact that many of us have never experienced any formal money management lessons and suddenly we have a good understanding as to why so many are now seeking debt advice, IVA help or even bankruptcy.
Even if you like to think of yourself as a pretty sensible spender, the chances are that you will probably make silly purchases at times without even thinking about it or have spent in such a way that something has ended up costing you more than it should have.
Take, for example, booking flights online on a credit card.
Airlines like EasyJet charge up to £15 in credit card charges for booking (compared to £3 or £4 for using a debit card)! To use a credit card for a purchase like that really is not sensible and is a fine example of a thoughtless spending.
Consider the cocktails in fancy bars that are often twice the price of a 'normal' drink in local bar, think about the random items you pick up in supermarkets just because they look quite appealing.
What about the coffees from Starbucks (which can often cost as much as a full jar of coffee from a supermarket) and sandwiches from delis? All these are purchases that most of us have made once in a while that we simply did not need to make.
It's purchases of this nature that contribute to a debt epidemic across consumer driven societies, but without effective IVA help and money management lessons at root level, are unlikely to be resolved.
Thankfully, the Government recently announced money management lessons for children in schools in the UK form as young as five.
So perhaps the future generations will be more sensible spenders!
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