TUC Warnings about Household Debt
I have no doubt that sometimes obtaining items on credit is a good thing. When I bought my first house I did not have a wardrobe. I therefore purchased one on a 0% credit card and paid it off each month. Had I not done that I would have spent three or four months with my clothes on the floor or in boxes. However £13,000 is an awful lot of wardrobes. Doubtless, it also includes the cost of the car which most people simply cannot afford upfront.
I would suggest that this debt situation in Britain is a ticking time bomb. Interest rates are at an historic low. This means that, should they rise, there is an awful lot of people out there who are really going to struggle to make the repayments and make ends meet. Perhaps it's too easy for someone on a reasonable income like myself to lecture others on how they manage their finances.