Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

The Burden of Debt


Over recent years personal debt in the UK has exploded. Since 1997 the total debt including mortgages was in the region of 940 million. Approximately 18% of that figure is unsecured credit, accounting for about 8000 per household.

This is a staggering amount of money. With interest rates being raised several times last year, the strain of maintaining our debt is taking its toll. Sources reveal that the UK's debt "has increased every single month without fail since April 1993".

As it has been relatively cheap to borrow money over that last few years it has been very easy to get access to money. Interest rates are widely predicted to rise further adding even more to the current 5 billion we are paying every month in interest.

According to the FSA (Financial Services Authority) one pound in every 10 we spend is borrowed money. It's very easy to shop around for good rates when borrowing money. Most of us still buy our financial products on the high street and the big Financial Institutions base the price of their products on what they think is the maximum borrowers are prepared to pay.

With the internet people are able to shop around for much better rates and this is driving the average price of borrowing money down. This does pose a catch 22 situation as the cheaper the cost of borrowing becomes the more people will feel they can borrow more. This does breed a nation of people that are living beyond their means. Debt can be very dangerous as you are effectively borrowing from your future to pay for today.

The wage rate is not growing in line with rising debts so somewhere along the line something has got to give. This may be in the form of the slightest interest rate rise which may be the straw on the proverbial camels back. One could associate it with a brick that is attached to an elastic band. You can gently pull and pull and nothing will happen, sooner or later the brick will finally budge and most of use will be walking around with a black eye.

If you do find yourself in debt then don't despair it's not the end of the world. As long as you face up to the fact that your financial position needs a makeover then you are on the right path. The first thing to is gather all you credit statements and get an exact figure of what you owe in total and what those monthly payments add up to. You need to be clear in your mind what you earn and what you owe. This sounds simple but you can't service your credit if your repayments are more than what you earn. If you find yourself in this position you need to consolidate all your loans into the lowest rate you can find. This will bring down you monthly payments and hopefully be more manageable.

If you need help on doing this then contact the National Debtline on (Freephone) 0808 808 4000 or the Consumer Credit Counselling Service on (Freephone) 0800 138 1111. These numbers are for UK residents only.

Grant Marwick is a freelance writer and owner of http://www.only-credit-cards.co.uk where you will find advice and more articles on Low interest Credit Cards and Bad Credit Credit Cards


MORE RESOURCES:

Copywriting - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Why South Korea's Biggest Auto Brand, Isn't Advertising Cars At Its ... - Forbes


Forbes

Why South Korea's Biggest Auto Brand, Isn't Advertising Cars At Its ...
Forbes
This year, consumers across South Korea (and parts of the U.S. and Europe) will finally be able to buy the Hyundai Nexo, the company's latest hydrogen fuel cell vehicle (FCEV) that also possesses some self-driving capabilities. But any of the Nexo's ...

and more »

The Wikipedia Test for Content Marketing - Business 2 Community


The Wikipedia Test for Content Marketing
Business 2 Community
Copywriters sometimes assume that customers already understand the product – but usually, they don't. Good content marketing educates the customer. To see the difference between “marketing fluff” and clear expository copywriting, compare a marketing ...

Geiger Marketing recognized - Lewiston Sun Journal


Lewiston Sun Journal

Geiger Marketing recognized
Lewiston Sun Journal
Geiger's marketing team, based in Lewiston, was presented with four Pyramid Awards at this year's Promotional Products Association International Expo in Las Vegas. The award-winning campaigns feature the effective use of promotional products, packaging ...

Build A Brand People Will Love With This One Trick - Forbes


Forbes

Build A Brand People Will Love With This One Trick
Forbes
To achieve this, according to copywriter Laura Belgray, you need to infuse your personality into your marketing. It's not enough to use traditional marketing to advertise your business. Don't expect your product to instantly draw undying interest and ...

Social Media Account Manager - Pedestrian TV


Pedestrian TV

Social Media Account Manager
Pedestrian TV
A boutique communications agency seeks a creative, enthusiastic and innovative professional to collaborate on social media campaigns and projects. This is a hybrid role providing hands-on experience and potential to grow with the business. We are ...

and more »

Copywriter - Pedestrian TV


Pedestrian TV

Copywriter
Pedestrian TV
A boutique communications agency seeks a copywriting professional with an interest in real estate, architecture and lifestyle content. This hybrid role includes preparing descriptive advertising copy for homes that will be sold by private sale and ...

Will Alexa be the saviour of the copywriting industry? - The Drum


The Drum

Will Alexa be the saviour of the copywriting industry?
The Drum
If that is really the case, it's going to be a boom time for experienced copywriters – a welcome development given the recent history of the industry. While the growth in content marketing created a greater demand for copywriters, the value of their ...

$600 Fraud? Fake ICO White Papers Are Drawing Scrutiny - CoinDesk


CoinDesk

$600 Fraud? Fake ICO White Papers Are Drawing Scrutiny
CoinDesk
Months after China's clampdown on initial coin offerings (ICOs), professional copywriters are still offering white paper services that may include fabricating information, reports suggest. The People's Bank of China notably banned domestic ICOs in ...

and more »

If you love words, you shouldn't hate a word count - The Drum


The Drum

If you love words, you shouldn't hate a word count
The Drum
Copywriters are no exception. Yes, a good portion of the day may be spent tossing out award-bait headlines from the languid sway of our office hammock. But the job isn't all inspiration naps and indoor smoking. Classified very much in the 'nuts and ...

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

PrimeNews Domain Is For Sale - $5,000 For Enquiries eMail Us

© www.PrimeNews.biz - 2012

home | site map | links