We had friends over for dinner last weekend and I was talking about work. I was rambling on about how hard I find it personally because around 30% of my clients are in a tough financial position. Typically, at least one mortgage, some loans and less income than last year.

I was quizzing my friend who is a postman on why he never got caught up in the Celtic Tiger and bought a second property. His answer to me was one of the most logic pieces of advice/insight I got in years.

“ Postmen aren’t meant to have investment properties”

Now to set the record straight he wasn’t being offensive to his profession but he did hit the nail on the head. Why did so many people who had average salaries fall in to the trap of extravagant weddings, investment properties, flash cars and all the perceived trappings of success.

Who is to blame? The banks for lending them this money or the people themselves.

Allan Matthew Cuthbert t/a Financial Wellbeing is regulated by the Central Bank of Ireland to advice on Mortgage,Savings, Life and Pension products