Category Archives: money matters

new recession

new recession on its way

A few years ago they were telling us to save for our pensions and now the markets we invested in are falling apart. We’re all going to be poor and will continue to be poor when we actually reach an age when the government allows us to retire (God help anyone in their 30s now they’ll be working until they’re 90).
Well now it looks like we’re heading into uncharted territory with the possible breakdown of the European monetary system and a double dip recession looming. Savers are being screwed as are the poor and middle income families have lost badly needed income.

private pensions dropped by up to 14% in 3 weeks which mean’s, what was the point taking out private pension’s when you can loose your income, one couple lost £2,500 per year a big drop for any poor pensioner.

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America’s debt

$14.3 trillion (£8.7 trillion) in debt, way was this allowed to happen. 4 Presidents lifted the ceiling 14 times instead of trying to cut the debt and get the country back on its feet.

I wonder if we will see the congress and senate men and woman taking a wage cut and pay freeze, i think not.

Mr.Obama is cutting $1 trillion (£610bn) over 10 years, that is twice as much as Britains total debt which the goverment are trying to clear.

Britains debt was caused by the last Labour goverment so they are the ones to fault, just as Mr. Obama is not to fault it was the last Presidents.

The US was and could still be in danger of losing its AAA credit rating, which could have/might mean tax rises in the form of higher interest rates on mortgages and credit cards.

The US Congress is due to vote on a deal to raise the countrys debt limit and avoid the worlds largest economy having to perform a humiliating default.

The leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default,” Mr Obama said.

A default that would have had a devastating effect on our economy, but some experts have said that it couls still happen.

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uninsured cars

Strict new car insurance rules kick-in.

This is a report about a new law but i don’t think it goe’s far enough, the fine’s are to small and the car should be crushed if they are caught for the second time.

Tough new laws have come into force today designed to crack down on drivers without insurance.

The new legislation rules that anyone with an uninsured vehicle must either declare their car as off the road or arrange a new policy.

Once the DVLA gets wind of an offending vehicle, the owner will be sent a warning letter telling them to take action.

The penalty for further ignorance is a £100 fine, followed by the possibility of having it clamped, seized or destroyed. Additional fines of up to £1,000 can also be implemented.

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student debt

British student’s are compelled to pay back around £20,000 when they finish in university but only after they earn a certain amount. Poor student’s. I don’t think so.

I’m not classing all the student’s the same of course’ but i think i’m taking about the majority of them.

I think they should be working in their spare time and also when they are not studying, to get a few pound’s to help keep them selves’ while at uni and staying in dig’s.

I do maintenance work for a student landlord who has 3 house’s with 5 student’s in each so i see this every time i go to the house’s.

When they are not at uni, they don’t get out of bed until about 10 – 11 am, then they lay around their dig’s watching tv, eating and doing other wasteful thing’s instead of studying.

The house and the yard are full of empty beer tin’s, vodka, whiskey bottle’s and more drink’s bottle’s i never heard of.

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credit and store card debt

Britain has more credit card borrowers than any other European country.With the amount of credit and store card’s today,  it is easy to see how the credit card debt is affecting a greater number of people in the UK.  Britains credit card debt level is now totalling approximately £54 billion.  With the value of interest payment’s on credit card’s said to have now reached the £9 billion mark. The average consumer now has debt’s of over £3250 outstanding on credit card’s,  but there are a lot of people with debt’s in the ten’s of thousand’s.

Knowing that you are struggling with UK credit card debt’s is the first wake-up call that need’s to happen,  as this allow’s you to come up with a plan to seek debt advice or start to repay your debt.

The best way would be to cut your credit and store card’s in half and use cash,  this way you will not be getting into debt with your card’s, it might be hard to get used to but its something you must do.

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