You Can Be Debt Free

Sobaca

Description

Learn how to CONTROL YOUR DEBT and REBUILD YOUR FINANCES with this expertly written and timely eBook. Discover how the system preys on the unwary and vulnerable and learn how to recognise the warning signs and avoid the pit falls that lead to unnecessary debt. This easy to follow guide will firstly help you, chapter by chapter, to recognise what's causing your problems, then encourage you to CHANGE YOUR HABITS and finally help put you on a path to restoring your finances. Credit card debt, mortgage debt, secured and unsecured debts are amongst the many topics that are covered in this informative presentation. Now's the time to TAKE BACK CONTROL and we invite you to take advantage of this timely production. The advice in this book is United Kingdom specific.

Sujets

• Personal finance

Informations

• Publié par: Andrews UK
• Date de parution: 09 août 2010
• Nombre de lectures: 0
• EAN13: 9781907290268
• Langue: English

Extrait

Title Page
YOU CAN BE DEBT FREE
A Book By
Sobaca Ltd
Publisher Information
You Can Be Debt Free published in 2010 by
Sobaca Limited
5 Fleet Place
EC4M 7RD
www.sobaca.com
Digital Edition converted and distributed by
Andrews UK Limited
www.andrewsuk.com
This book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, resold, hired out or otherwise circulated without the publisher’s prior written consent in any form of binding or cover other than that in which it is published, and without a similar condition being imposed on the subsequent purchaser.
Copyright © Sobaca Limited
Introduction
Finding yourself in debt is definitely not fun. How you got to be in that position is obviously important to understand and the first step to getting out of debt is realising you have a problem. Once you have done that you can begin to identify the exact causes of your current predicament before moving forward to solving your problems. What doesn’t help is being criticised. You are probably suffering enough already but the fact you are listening now clearly indicates you have a strong desire to overcome your present difficulties and that’s a good start. The helpful advice that follows should help you to better understand some of the practical solutions available to you.
You are certainly not alone in struggling to make ends meet and, while many are too embarrassed to seek out help, it is available and we hope that you will find this presentation a positive aid in your efforts to rebalance your finances. It can be done and you can be the person to do it.
Ours is a programme that includes information on some of the consequences that are attached to different types of debt. It is crucial to know what you are facing as it may not be as bad as you think. A lot of anxiety and worry is predicated on the unknown and we hope to help put certain things into context for you.
Now that we are ready, let’s begin by looking at some facts surrounding living expenses.



Chapter 1
The cost of living
According to recent news reports, it seems that the cost of living in the UK has fallen for the first time in two years. The Office for National Statistics points to falling food and non-alcoholic drink prices as being the main reason for this, with prices for other basics such as meat, bread and vegetables also falling.
However, despite this fall in the cost of living, Western Europe still remains the most expensive region in the world to live.
Further reports reveal that the average British household now pays around £18,000 a year in domestic bills – around a million pounds over a lifetime. With unemployment figures now at their highest since the mid 1990s, currently standing at around 2,500,000, and more than 5,500 UK businesses falling into insolvency in the first quarter of 2009, the future for many isn’t looking too bright.
For most of us, a large percentage of our income is spent on rent or mortgage payments, followed by obligations to pay our credit cards, utility bills, council taxes, insurances and car payments. One leading price comparison site recently revealed that almost half of us are struggling to pay our bills as a direct result of the recession we are currently in.
As you might expect, there is a north/south divide, with statistics revealing the division is widening. The richest fifth of the UK population now boast a pre-tax income that is 16 times greater than that of the poorest fifth. This is partly due to salaries of the richest increasing at a faster rate than those further down the social scale – those who still have a job, that is. Reports indicate around 2.7 million British workers have been forced to take a second job just to make ends meet.
Two of the traditionally more cash-strapped areas of the population – pensioners and students – are particularly feeling the pinch.
An EU report recently stated that the UK has the fourth highest level of poverty in Europe among the over 65s, coming just behind cash-strapped Romania. In 2007, nearly a third of our pensioners were living in poverty, matching the statistics of Lithuania.
The charity, Age Concern, has discovered one in five people aged over 60 regularly skipping meals to save money on food, while two-fifths are struggling to afford life’s essentials.
Government taxes, including the forthcoming ‘green tax’, which will add another £230 each year to energy bills, and other household bills, mean that many pensioners have little money left at the end of the week. Government means-tested schemes, whereby pensioners are forced to apply for assistance, have a low take-up as many are too proud to do so and others find the paperwork confusing and difficult.