my observations for today - people on low/no income

Grayson

K-9 wrote: »

I suppose the argument is, if people are struggling to pay their bill on a bimonthly or monthly basis and getting cut off, topping up weekly should be easier to manage. Even if you run out of credit you can top up when you get paid or the social comes in, so less time with no electricity if things are that bad.

I think there was a budgeting service provided by the SW and MABS, don't know if it's still going. I assume they'd take so much out to go towards utility bills so that might help.

Most people living in poverty say that prepay allows them to budget better it's just that for some budgeting isn't workable because they're just too poor. And MAB's still have the service as far as I know (It's been three years since I studied that).

emo72 wrote: »

doesnt islamic banks have some system that means they cant charge interest? if so *adapts joan burton tone* "can i just say, thats one good thing islam has done".

also..also... i read that michael collins had an idea for irsh banks at the foundation of the state to not charge interest or something fair like that. but then those bastids fianna fail got control, and shot that plan down. maybe denis o brien made a donation or something. anyway we got screwed then also.

anyway i have my leccy bill for say 20 years then one month i was late paying and lo and behold, they were straight on the blower asking if i wanted to go to prepay! the neck on them.

Pinergy and companies like that charge a standard rate for the electricity but also charge a "rental" for the pre paid meter. That's where they make their money.

Electric Ireland etc do something similar but they make their margin by charging a slightly higher rate for electricity. They also charge a fixed service charge per year.

All companies make more money off prepaid power than off bill pay.

And Islamic banks can't charge interest to muslims. They can to others because the others will charge them interest too.

old boy

some thing to make people really think
http://www.euroweeklynews.com/3.0.15/news/on-euro-weekly-news/spain-news-in-english/142002-spanish-grandmother-forced-to-use-candles-for-light-dies-after-mattress-catches-fire?utm_source=newsletter_8139&utm_medium=email&utm_campaign=ewn-alerts-spain-news

ChikiChiki

Swear I'll never get a car/personal loan again, not even a mortgage if I can avoid. Worked in the bank in my 20s and they threw a heap of money at me which I spent on cars and holidays and generally having a good time. One time I emailed staff business and €10k was in my account a couple of hours later. Idiotic stuff altogether. I've only about €6k left thank god but it crushed me making them repayments through the recession.

Never again! Lesson learned.

gctest50

old boy wrote: »

some thing to make people really think
http://www.euroweeklynews.com/3.0.15/news/on-euro-weekly-news/spain-news-in-english/142002-spanish-grandmother-forced-to-use-candles-for-light-dies-after-mattress-catches-fire?utm_source=newsletter_8139&utm_medium=email&utm_campaign=ewn-alerts-spain-news

Live prices of electricity in Spain : ( i think )

http://tarifaluzhora.es/

Permabear

This post has been deleted.

Donal55

ahnowbrowncow wrote: »

SSIA. Basically free money for people with money, poorer people couldn't avail of it. You could increase your return to more than 30% just from banks paying interest on the amount you saved.

Not huge money but I'm sure there were a lot of people who could have done with €4,000 or so after the 5 years but just didn't have the money to avail of it.

Forgot that one. My sister, married to an Army officer, had their childrens allowance diverted straight into that account. Money for old rope, if you could afford it.