Life /
Poland Is A Gem In Europe [71]
I've seen quite a few people palpably overstretch themselves with consumer credit
Yip. Also, most people I know do the most financially idiotic thing on Earth - they buy new cars on credit. I mean private individuals, for companies and business owners favourable tax regulations apply, so that's a bit different. They do it because they're just not willing to wait, save and buy for cash. In our family my Dad and I are the only people who buy our wheels for cash. Everyone else, including those who are significantly worse off, take out expensive car loans.
Also, I cannot help but wonder how people making around average salaries (about 8.5k pln gross), and still having mortgages/car loans, feel that they simply have to go on foreign vacation twice a year. I blame social media idiocy for that, and it's so sad - instead of saving, investing and building a better, safe financial future for their families, they are trying to "impress" strangers on social media. Mind boggles.
Statistically, it may not be as bad as in the West yet, but we are heading in exactly the same direction at the moment.
