[grania]

The interest rates on our mortgages and cars were high, but that gave sensible people a reason to pay off their debts. That way, you could save money and get paid interest to do so. Now, nobody seems to be getting out of debt. There's little incentive to not have debt, as the interest rate being paid on it is so low, and savings would pay near-zero percent.

So yeah, our interest rates were higher, but we were better off for it in the long run. Now retirees who responsibly saved for the future are being slammed because all planning assumed a minimum 4% interest being paid on savings.

[sheana]

We have plenty of cash to pay for stuff to avoid interest charges but it seems almost everyone is offering 0% interest for a certain amount of time so I have been using their money.
I currently have 2 payments that are 0% interest for 12 mnths.