Interest rates to hit 6% and standard of living on hold for 2 years

  • Welcome to Britain!
  • Do you buy British?
  • What have we been left with from years of overspending, over lending and over borrowing?

We have been left with the prospect of facing the title of this blog post.

Not all people have over spent or over borrowed and some if not a great number have been subject to unexpected changes in personal circumstance.  This could be a loss of job or fewer hours at work or possibly even an accident or illness.

House prices are steadily dropping instead of crashing and household budgets are being tightened every day.  It is no fault of the current coalition government but it does fall on them to sort.

It is a shame for our society that the governments’ time need be spent on sorting a past and current problem instead of using the time to positively move ahead with the allocation of previously retained funds that a departing government could have left.

  • Wishful thinking!

Regardless of the reason why we are in this position we still have to have a firm idea of how we can individually help ourselves and not just accept the news stories that state the title of this post and be bogged down with negative attitudes towards the nations’ financial future.

We have no incentive to save as interest rates are low, we have little ability to increase our earnings if our main jobs take up the majority of our time, so what can we do?

Well, those with money should be spending it as the circular flow of the economy needs the constant re injection of gained funds, without this a few would end up very rich holding their money and we would all be working for them, hang on, is that what is going on?

  • Where are these cash hoarders spending, is it in Britain? No!

The majority of the high paid who take income from the British Isles, do not tend to spend the majority of that income here.  Apart from mortgage repayments and general / subsistence costs for being in the UK, they do not holiday here, or buy second properties here.

The money moves out of the country very quickly and this mass bulk of funds that would in other years gone by be spread around the retails tills of the UK, now goes into Europe, Asia or the USA.  This would be okay if as much of the money from the other continents came here but we do not seem to be able to attract enough.

If you buy British you are helping our economy, it is not easy to find everything we need at the price we want with a “Made in Britain” label on it but by thinking outside the box, you may be able to find other ways of increasing your “Buy British” spend.

If we all bought more British products and services it would cost us but our economy would benefit and in turn the cost would reduce.

When our personal debt consultants speak with potentially new clients for the first time, we often find that each story is very different but the same under lying issues are there;

  • Reducing incomes
  • Increased cost of living

It can be very difficult for people to accept that one month they were okay and the next they are considering finding some sort of solution that can help with debt problems.

Not all situations require severe debt solutions such as Bankruptcy or an IVA and most can be dealt with simply through a debt management plan.

Clients that accept our advice usually find the help with debt that they require. Clients that do not accept our advice usually end up in the hands of unscrupulous finance companies.  These companies are taking advantage of consumers that are unable to identify which company is actually telling them the truth, these consumers also tend to buy and shop on price and are more likely to snatch a deal and be mis-sold to.  The unscrupulous companies only exist because of the decision making of the consumer.

The only way you can ascertain which company is a bonafide one and which is not is to investigate and question that company,

  • When were they established?
  • What is the name at Companies House that they trade under?
  • What is the number or the consumer credit license they have which allows them to give you advice?
  • Do they have a current data protection registration number? If not they should not be processing your personal details!
  • Check out what you have been told, do not just take a strangers word for it who may have some type of financial gain by lying to you!

At Lewis Alexander debt help UK we can furnish you with all of our registered company information, if others can’t you should beware when obtaining debt help or advice.

If you are struggling and need help with debt, please call our debt helpline using 0800 018 6868, this number is FREE from landlines, mobile costs may vary.

Calls are dealt with in the strictest of confidence and lines are open 24 hours a day.