In the UK, we have all been scared by energy bills which are predicted to average out at about £4,000 annually next year. That’s getting on for $5,000 USD.
As they watch the prices rise, people have been reduced to shivering, wearing their coats at home. People on the lowest incomes, the energy companies make sure they are on pre-pay meters, you know, the ones where you have to feed coins in before energy is released? (Which, by the way, is the most expensive option for the consumer.)
I’m just saying…
But it’s funny. You know yesterday I mentioned that I had a new job? Well, for the last ten years I’ve lived quite frugally, maintained just my bank account with its debit card. I don’t really plan on changing that, I’m actually extremely happy with my low-footprint existence, but since getting the job, I decided it might be wise to apply for a credit card. You know, for emergencies, to have two cards in my pocket. I bet you all do the same.
I looked at deals. In the end, I found not just one but several. I was pre-approved. Okay, pinch of salt. If I’m pre-approved but the limit is $10, it’s pretty meaningless.
But this wasn’t $10.
Having no previous relationship with the bank, I completed a five-minute online application. As it said, I was automatically approved. It gave me a credit limit of £12,500. That’s getting on for $15,000.
Bully for me, right?
Actually, that number scares me. I have no intention of borrowing that much, but I can think of plenty of fraudsters who’d like to.
But my point is this. People are going through real fear and anxiety about something as fundamental as staying warm, not just here but all over, a £4k bill. Yet here I am, with a bank I never met before, and straight away, they are willing to risk 3x that amount! At the drop of a hat.
Isn’t that kinda disgusting? That the field is tilted so unfairly? You know, some of us might be going through a cost of living crisis, but the burden is by no means spread evenly. The banks are certainly willing to take the risk on some people.
Just saying.
Mister Bump 
100% correct. Our electric bill, which includes heat, lights and stove, has been averaging $500-700 per month here in NY. We don’t like it but we’re over the proverbial barrel. We’re lucky (ha!); we can pay our bills. There are people who can’t even buy formula for their babies. What is wrong with this picture? It’s royally messed up.
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absolutely. And yet others have so much.
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Unfortunately, this is nothing new. You’d think by now we would have fixed the problem.
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The problem isn’t new, but the scale of it is.
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All over the world people are being forced to cut down on their necessities because of the mismanagement/ greed of people in power
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I’d put it squarely down to greed. The wealth gap has increased noticeably over my lifetime and it is simply wrong.
It’s like they used the movie Wall Street as a blueprint.
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I agree with you Pete. The middle class is disappearing and the wealthy are becoming richer and richer
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hear, hear, Pete.
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How have your energy prices increased David?
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I’m not sure of the percentage, TBH… not as dramatically as yours, though!
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Bank is willing to take that much risk because the system inherently knows that some people are more fucked than others. Still disgusting though.
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To me, it highlights exactly the role of government. To make staple items (including fuel) more affordable. And, if necessary, to limit big business.
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Even here in Palm Springs, where our normally balmy winter has been cooler than normal, our heating bills have more than doubled this winter. And I cannot emphasize enough how much I detest banks and their exorbitant credit card fees!
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There is obviously money in the economy – and the banks have it all!
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Same happened to me. I wanted to increase my limit so we could do a home renovation, asked for a small increase, they put it up to 20k. I nearly died of shock
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Hey but at least down there you won’t struggle to pay your heating bills 🤣
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wow! Pete that is a lot of credit! Be extra careful so your not scammed!
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I reduced the limit straight away. I’m looking for something where I can put petrol in the car, or buy a train ticket etc. I don’t need or want any more.
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You would’ve been better off getting a Visa debit card at least then you can only have what is in your account at the time, but you can use your card to pay for tickets petrol et cetera
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I have one of those already. I wanted a backup.
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Oh, I see, okay, then, makes sense
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It’s awful, isn’t it?! I wish something could actually be done about it. I wrote to the CEO of Shell when news of their record profits broke, uploaded it on here, worked out how to tweet it- nothing came of it. I wrote to my local MP twice when my borough decided we’re getting a 15% rise in council tax in April, have heard nothing back.
I might as well scream at a brick wall for all the good it’s doing.
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Well, Shell is a company, and the goal of companies is to make as much profit as possible. So I suspect Shell’s shareholders think they do a pretty good job.
The trouble is, they are all multinationals now. They squirrel their profits away to some jurisdiction which charges them $10 tax. Certainly it used to be that when you bought from Amazon, you were actually buying from a company based in Luxembourg, Now, why was that?
And, if you don’t pay your council tax, they’ll listen.
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Congrats on the job! I’m very frugal with heat but I like it cold.
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I’m happiest mid-teens. About 60F. But all winter I’ve lived beneath that.
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I thought you liked warmer weather? 😁
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I don’t mind it at all. Hotter than mid-teens, I suppose. It’l nice to wander round in tee and shorts.
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I’m a seasonal gal mostly fall and winter are my favorite times of the year
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Agreed. It’s very unfair. Our heater broke earlier this year and we can’t afford the repair right now, so we are living with lots of blankets and portable heaters. I’m really tired of writing under a heating blanket…but hopefully it will warm up soon.
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I hope so. It’s generally warming up here although the last few days have been chilly, but Nance had snow in NY this am!
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