topic Re: THE BUDGET in Community Spirit

THE BUDGET

newstart2380 — Sun, 21 Apr 2013 21:07:31 GMT

I listened to Amanda Vanstone and Grahame Richardson this morning and what I heard was very concerning.

They both agreed that what ever party wins the election in September the GST will most likely rise at some stage to at least 15% because the deficit at this stage ( and rising) is so huge and there is NO money in the coffers.

The mining boom has weakened somewhat and this government has grossly overspent, the OZ dollar is to strong against other currencies but GR stated any credible treasury department would have foreseen and taken appropriate measures long before now because the OZ dollar has been high for over 2 years.

The Swan budget will be interesting but I think it will be his "swan song"

Re: THE BUDGET

*crikey*mate* — Sun, 21 Apr 2013 21:12:07 GMT

well at least 15% is an easy (ish) figure to calculate... Though I'll have to learn and practise how to divide by 16...

*sigh*

multiplying by 10 and dividing by 11 is so much easier.

Re: THE BUDGET

catsnknots — Sun, 21 Apr 2013 22:47:30 GMT

Even worse it that we will be posting deficits for a decade at least...

The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble...

might not be Labor's fault completely.. but they have done nothing to help... they ignored all the opinions that we are heading for trouble and said it was just fear mongering...

Well, we are there... I hope people don't have huge CC debts and that they managed to put some cash away... we are in for a bumpy ride.

Re: THE BUDGET

twinkles**stars — Sun, 21 Apr 2013 22:57:48 GMT

also listened to this with much interest this morning. quite concering

Re: THE BUDGET

newstart2380 — Sun, 21 Apr 2013 23:10:48 GMT

Even worse it that we will be posting deficits for a decade at least...

The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble...

might not be Labor's fault completely.. but they have done nothing to help... they ignored all the opinions that we are heading for trouble and said it was just fear mongering...

Well, we are there... I hope people don't have huge CC debts and that they managed to put some cash away... we are in for a bumpy ride.

LL has said on a few occasions he/she does not have CC debt so maybe he/she could give us all a lesson in how to live without using credit.

Must be clever,very frugal and not do much because governments can't work without credit.

Re: THE BUDGET

twinkles**stars — Sun, 21 Apr 2013 23:21:04 GMT

?.....I live without a credit card. I do have a debit credit card but never used a credit card. Live within my means.

Re: THE BUDGET

bella_again — Sun, 21 Apr 2013 23:33:19 GMT

I have a cc and its at its limit but its only a quarter of what its limit was and I brought part of a car with it. I had no other choice at the time but interestingly enough the interest rate is way cheaper than a car loan anyway. Credit is not a bad thing if you budget well.

I don't think the ride everyone claims we are in for will be much worse than whats happened previously, its just a matter of weathering the storm.

Re: THE BUDGET

freddie*rooster — Sun, 21 Apr 2013 23:40:42 GMT

No CC here either, I have a debit card, so I only buy what I can pay cash for.

Re: THE BUDGET

izabsmiling — Sun, 21 Apr 2013 23:42:40 GMT

I got a credit card when I was a single parent...to pay for car repairs .

I paid it off and us it when and if necessary.The more you have the easier it is to live within your means.

Re: THE BUDGET

monman12 — Mon, 22 Apr 2013 00:09:05 GMT

"The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... "

Codswallop.

ABS: Full-time adult average weekly ordinary time earnings :$1,393.

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

If you budget well you would not require credit (card) other than to use it for a short term buffer and/or a means to avoid carrying too much cash, and certainly never to reach the point of paying interest.

Re: THE BUDGET

catsnknots — Mon, 22 Apr 2013 00:22:35 GMT

MM, you of all people should know how they get that average wage...

Where I live the average wage is about $550 pw...

Where my ex lives the average wage is $2100 pw but some people that do not work in the mines are still on that $550 pw average...

huge difference there...

You can't add up the wages of people on $109,000 per year with the people that make $29,000 per year and average that out and say this is what the average person earns... it does not work in the lives of most people..

it might work with a calculator but that is about it..

it is like the ABS and the unemployment rate.. they take anyone working for 1 hour a week as being employed... stupid statistics make a mockery of hard working people and people looking for more hours..

Re: THE BUDGET

newstart2380 — Mon, 22 Apr 2013 00:29:39 GMT

No CC here either, I have a debit card, so I only buy what I can pay cash for.

I have a CC but it is because I run my own business, everything I purchase is put on the CC and the account paid on time every time so no interest just a yearly fee. This enable me to reconcile the statement every month which makes it very simple and I do like the KISS method.

For those on a wage maybe not so good, maybe a DC is the way to go.

Re: THE BUDGET

newstart2380 — Mon, 22 Apr 2013 00:32:11 GMT

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

[/quote]

Just like the government should have done ????????

Re: THE BUDGET

catsnknots — Mon, 22 Apr 2013 00:36:49 GMT

I too have a CC... I got it last year.. it was the first time ever but I needed it to get a credit history for future reasons..

I got it on the advice of the bank manager after an appointment to plan for buying a home.

Pay it off every fortnight... never had to pay interest..

Re: THE BUDGET

the_hawk* — Mon, 22 Apr 2013 00:37:50 GMT

I listened to Amanda Vanstone and Grahame Richardson this morning and what I heard was very concerning.

They both agreed that what ever party wins the election in September the GST will most likely rise at some stage to at least 15% because the deficit at this stage ( and rising) is so huge and there is NO money in the coffers.

The mining boom has weakened somewhat and this government has grossly overspent, the OZ dollar is to strong against other currencies but GR stated any credible treasury department would have foreseen and taken appropriate measures long before now because the OZ dollar has been high for over 2 years.

The Swan budget will be interesting but I think it will be his "swan song"

Strange how when I said things were noty all peaches and cream and we were in real trouble I was howled down as being negative and all was great.

I guess it depends if you believe and accept the word of a polly or you look at people and things that are going on in the real world.

As for the mining boom, Haha this is the thing the government was relying on to keep us afloat, well its all but over and we are not doing fine.. http://www.google.com.au/#hl=en&gs_rn=9&gs_ri=psy-ab&cp=11&gs_id=w&xhr=t&q=mining+bust&es_nrs=true&pf=p&sclient=psy-ab&oq=mining+bust&gs_l=&pbx=1&bav=on.2,or.r_qf.&bvm=bv.45512109,d.aGc&fp=d49902a2f4880db5&biw=800&bih=399

Re: THE BUDGET

the_hawk* — Mon, 22 Apr 2013 00:42:22 GMT

"The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... "

Codswallop.

ABS: Full-time adult average weekly ordinary time earnings :$1,393.

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

If you budget well you would not require credit (card) other than to use it for a short term buffer and/or a means to avoid carrying too much cash, and certainly never to reach the point of paying interest.

LOL look at the real world its a different picture than the one you believe it is.

That dodgy figure for ABS: Full-time adult average weekly ordinary time earnings :$1,393. takes into account the top 10% of wage/salary earners and doesn't reflect on the 90% of the population.

Re: THE BUDGET

newstart2380 — Mon, 22 Apr 2013 00:47:12 GMT

Answer to #14

Totally agree with everything you just said, just talking to people is the best way to gauge the way most people are thinking.

This government has spent money they THOUGHT they might get from the mining boom instead of spending wisely with what it already had in the coffers. I have seen businesses go belly up (one big building company recently) due to chasing it's tail, never works and the tail just gets longer.

Re: THE BUDGET

catsnknots — Mon, 22 Apr 2013 00:59:20 GMT

Has the Wyhalla Wipeout begun?

Huge jobs blow as $1 billion Arafura Resources Whyalla mineral processing plant scrapped

http://www.adelaidenow.com.au/business/sa-business-journal/huge-jobs-blow-as-1-billion-whyalla-mineral-processing-plant-scrapped/story-e6fredel-1226625701363

Re: THE BUDGET

twinkles**stars — Mon, 22 Apr 2013 01:01:20 GMT

I too have a CC... I got it last year.. it was the first time ever but I needed it to get a credit history for future reasons..

I got it on the advice of the bank manager after an appointment to plan for buying a home.

Pay it off every fortnight... never had to pay interest..

cat....there is only such a thing as bad credit. no report is available for good credit.that bank manager was looking after their own interest not yours

Re: THE BUDGET

monman12 — Mon, 22 Apr 2013 01:05:45 GMT

TH: "That dodgy figure for ABS: Full-time adult average weekly ordinary time earnings :$1,393. takes into account the top 10% of wage/salary earners and doesn't reflect on the 90% of the population."

Chuckle.

ABS figures "dodgy"

"....doesn't reflect on the 90% of the population."

TH do you ever ponder what "average" means in the term "Full-time adult average weekly ordinary time earnings"