They know how to do it in Ireland.
 

Give up satellite TV and don't go on foreign holidays, Irish homeowners filing for bankruptcy are told
Ireland's Insolvency Service will allow only eight euros a day for food
Debtors must give up cars and private health insurance under new rules
120,000 homeowners are in arrears on their mortgage repayments


Irish debtors must give up foreign holidays, satellite television and feed themselves on eight euros (about £6.80) a day under new monthly spending rules introduced by the government to tackle the country's debt problems.
Ireland's Insolvency Service will allow a debtor to spend 57 euros a month on heating bills and 126 euros on socialising, while they must remove their children from private schools, give up any private health insurance and only use a car if there is no public transport alternative.
High unemployment - at 14 per cent - and wage cuts since the country's economy collapsed in 2008 mean that 120,000 - about one in eight - homeowners have fallen into arrears and are more than 90 days behind on repayments, reports the Financial Times.


Read more: http://www.dailymail.co.uk/news/arti...#ixzz2QvwGS82K

Re: They know how to do it in Ireland.
 

Yes and people still want to come and live here. If you have cash money things are still good here.

Re: They know how to do it in Ireland.
 

In Ireland it's always been considererd bad form to splash the cash when so many people are out of work. So the less money people spend the longer the recession lasts :rofl:

Re: They know how to do it in Ireland.
 

People don't splash the cash as you put it, as people don't know how things will evolve in the future. There is a lot of money that is not in the bank. How sad to say that I stash cash. Thought my grandparents were silly old fools, now I am becoming one too.