Ethics are not just for Sundays

24

Comments

  • so did the payday loan look at her finaces and assess whether she could pay it back....and advise that they couldn't lend it because she couldn't pay it back and so for the next year should live on sandwiches...

  • Live by your means or rack up the debts. I'll go for the sandwhiches. When I was a kid we often had jam sandwhiches for dinner. I don't imagine it was because the butcher had run out of sirloin steak. 

  • I agree NLR.its how I live.but then we all have different flaws and personalities......

    and some peopel are useless with money and these payday loans with their friendly bubbly adverts make it all seem so easy and normal.....without really assessing does the person need a new pS4 game today or can they wait 3 weeks....

     

    I'm not saying that the individual isn't the one that should take the responsibility.......they should..but there should be more checks and services for those who are vunerable to these sort of people...

  • I don't like those " spitting image" Wonga adverts either. I fear the reason people don't go for checks are because they have such poor credit rating they wouldn't get a cheaper loan. These people are high risk. Lets not forget that people who borrowed recklessly and couldn't pay it back are responsible for the ongoing financial crisis. The savers and scrimpers, and pensioners have been bailing them out ever since.

  • IMO we need to stop teaching algebra, binary, prime numbers and other guff in maths and teach personal finance instead.

  • Screamapillar wrote (see)

    IMO we need to stop teaching algebra, binary, prime numbers and other guff in maths and teach personal finance instead.

    Disagree, if you teach people the fundamentals of mathematics (properly from first principles) who would ever take out a payday loan

  • Runnin man wrote (see)
    Screamapillar wrote (see)
    IMO we need to stop teaching algebra, binary, prime numbers and other guff in maths and teach personal finance instead.

    Disagree, if you teach people the fundamentals of mathematics (properly from first principles) who would ever take out a payday loan

    They're not the fundamentals, that's the whole point. They are fine if your want to be a scientist or engineer, otherwise you forget the lot the minute you leave school. More practical stuff would benefit more people.

    If you want to learn more advanced stuff you should go on and study it separately if you want to.

  • Wonga has those slide thingys. x amount pounds borrowed against y amount of time to pay back. THEY do the maths for you. 

  • There's the customer base then, if someone has to do your maths for you, you're stuffed basically

  • Anyone who borrows 275 and then owes 10,000 a year later so she can eat oven chips is pretty stuffed anyway

  • Screamapillar wrote (see)
    Runnin man wrote (see)
    Screamapillar wrote (see)

    IMO we need to stop teaching algebra, binary, prime numbers and other guff in maths and teach personal finance instead.

    Disagree, if you teach people the fundamentals of mathematics (properly from first principles) who would ever take out a payday loan

    They're not the fundamentals, that's the whole point. They are fine if your want to be a scientist or engineer, otherwise you forget the lot the minute you leave school. More practical stuff would benefit more people.

    If you want to learn more advanced stuff you should go on and study it separately if you want to.

     

    so do less maths......as its not important.no we need more maths.and we can cut out all the english brammar as you can be understood perfectly well without all the grammer stuff.......

    but we need to inform kids that maths is of importance in their lives eg how to prevent getting ripped off..

    the sliding things with wonga will not tell you on the scale what happens if you miss the payemnt and have to therefore borrow more..At no stage do they let you see how quickly the debt can build up until you are drowning in it with no liferaft

  • Whatever you think of grammar and I know we have opposing opinions on that, there needs to be a basic maths certificate to teach kids the sort of stuff they'll need in everyday life.

    Teaching kids algebra is a complete waste of time unless they are conversant in stuff like percentages, interest rates, keeping to a budget or weights and measures that can help them lean how to cook. Stuff which will help them understand, as you say, how not to get ripped off.

    We don't need more maths we need different maths, the right sort of maths, the sort that keeps people out of debt, not the sort that sends rockets to the moon. People that need advanced maths for their careers will learn it anyway.

  • the stuff that sends people to the moon is only taught at degree of A level which is a choice.......

    GCSE is all fundamental basic principles...........surely we should be teaching more maths so that more can do engineering and science..

    we should abandon English literature until A level and just concentrate on reading and spelling and grammer in english..becuase being able to understand a play is not important in life.........if people want to understand it they could read it outside school....

  • When do you propose we start teaching the sort of maths that'll send rockets to the moon?

  • Seren nos -- If the RW fora are anything to go by it looks like most grammar, spelling, punctuation, etc has already been cut out image

  • Anyone else notice..... the irony in seren nos' post..... about spelling & grammar?

  • I admit than mine is crap.but it has never stopped me being good in any job I have had.....and I can still be understood...image

    And yes I did pass English language and literature back in the old days when it was the good old O'levels.........so i can't see how standards have fallen when you could be crap and pass all those years ago...

  • Dont we have to let people take some responsibility for themselves ? No one has ever been forced to take out a Wonga loan 

  • seren nos wrote (see)

    the stuff that sends people to the moon is only taught at degree of A level which is a choice.......

    GCSE is all fundamental basic principles...........surely we should be teaching more maths so that more can do engineering and science.. we should abandon English literature until A level and just concentrate on reading and spelling and grammer in english..becuase being able to understand a play is not important in life.........if people want to understand it they could read it outside school....

    Algebra - the basic building blocks of mathematical and scientific theory -  is taught at O level. I know because I sat through endless lessons knowing I was never going to need to use the stuff. And I haven't.

    There is nothing to stop it being taught at that level as an optional subject (the same as Geography or History or, indeed English Literature). Practical Mathematics would be compulsory as would English Language because it would cover most of the things that everyone needs to use in every day life. 

     

  • I can remember one alegbra exam question at GCSE.  It was to do with calculating how much wallpaper was required to decorate a room.  While I agree with your point about teaching the right type of maths Scream, I'm not sure you have chosen the right example there.

    But I don't think it is just Maths that needs to be taught.  GCSE maths as it was in my day was perfectly adequate to work out budgets, percentages, compound interest etc.  What is failing is the teaching of children the requirement to budget and the consequences of getting it wrong.

    I was taught this lesson by my mum, who gave us a monthly allowance to spend on whatever we liked, but in return she bought nothing for us except the food in the house and our school uniforms.  If we wasted all the money at the start of the month then we simply went without later on.

    There is no lesson that cuts deeper than a teenager who can't go to a party because she didn't budget for the taxi to get her there and back

  • surely to understand compound interest.......which is how Wonga make their money ....you have to understand algebra

     

     english literature has always been compulsory in this area is in the schools now same as when i was young......no choice at GCSE level.....

  • Forgive me if I'm wrong, but you tell Wonga how much you want to borrow, and or how long and they tell you how much you pay back.... Should be primary school maths that one 

  • The reasons why so many people are almost totally ignorant about financial matters in the UK was the idiotic mentality of the traditional middle classes who declared that talking about money 'wasn't the done thing'.

    Even as a kid, I thought that if money didn't matter enough to be talked about, what the bloody hell did we work for?

     

  • Yep just looked. It even tells you how much the interest and fees are You don't even need basic maths to work it out 

  • That's what I keep trying to tell 'em Daveimage

  • Sussex Runner NLR wrote (see)

    That's what I keep trying to tell 'em Daveimage

    We're all old enough to have done English comprehension at school round this thread...  Looks like there ar lots of stupid kids around 

  • Dave.does it tell you how much you will have to pay if you cannot pay it back on the date due......

  • Yes all clearly laid out, with nice little examples 

  • I cannot find the information.......if you can't pay it back on the due date there is an extra £20 fee..but i can't see where it tells you of the new compounded interest....

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