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Causes of Debt
The root cause of debt is living beyond your means. The Dickens character Mr Micawber sums it up nicely in David Copperfield: “Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.” It’s surely no coincidence that Dickens’ father was imprisoned for debt. Read the rest of this entry »
Contrary to certain beliefs debt is an essential part of a developed economy. Few could afford the roof over their heads without mortgage debt, and the majority of successful businesses start life by borrowing. However, in many advanced societies, consumer debt is spiraling out of control. Much of this is fuelled by the easy availability of debt in the form of credit cards. Read the rest of this entry »
Author: Robin Williams
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Among the ongoing worldwide financial calamity and fiscal woes, a credit card debt assistance program is clearly becoming one of the chief concerns many people have. You may not think you have a need for a debt negotiation program or debt management program at the present moment for getting out of debt as you want to believe. The main reason why we find ourselves in significant financial trouble is that we are in many cases in outright denial of the significance of our current issues.
We all know how badly the recession is affecting the lives of people all over the UK. Houses are being lost, unemployment numbers are rising and the basic interest rate has hit rock bottom while the banks (including the Bank of England) try to steer our economy out of financial gloom.
Some of us are more worried than others, however, and many people are struggling with debt. Not only can this lower our standard of living significantly but it can also make us depressed and cause us to withdraw from the things (and the people) we love. Debt can cause a lot of personal distress and relationship conflict. Read the rest of this entry »
A lot of people lose a lot of money by repeating a few basic mistakes. We’ve tried to identify the main culprits here. By recognizing those you make, you can begin to avoid them.
1 Financial Ignorance
It seems almost fashionable for some to plead ignorance over finances with the result that we either make the wrong choices or abdicate responsibility to some kind of adviser who may or may not act in (or even fully understand) your best interests. You don’t have to be Warren Buffett, but acquaintance with the basics is within most people’s grasp. Spend a few hours with a book such as Personal Finance For Dummies by Eric Tyson. Read the rest of this entry »
