Analysis of question 17 answers
What’s your attitude to credit cards?
a. They’re more convenient than cash and I usually pay them off within a couple of months
If you’ve got the self control it’s probably the healthiest attitude to debt. However, Britain makes more use of credit cards than just about any country, so you may not be able to manage your finances in quite the same way if you move abroad.
b. They’re too convenient. I earn just about enough each month to cover the minimum payment on all my cards
It’s not impossible to carry on in the same way if you move abroad, but it’s often very difficult. Getting credit from a foreign bank can be much harder than in the UK especially for the first few years until you’ve established yourself as a ‘good risk’.
c. I never use them. I hate to be in debt of any sort
Congratulations. You can obviously carry on along the same route if you move. The only difficulty might be if you run into some teething problems and a little short-term borrowing could then be the best way to see you through.
d. I’ve cut all mine up and I should have all the debt paid off in about six months
Good move. It’s still a good idea to wait until your good intentions have turned into a positive bank balance. You don’t want to end up in the same position, but with the added difficulty of being in a foreign country.
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