Trouble with money
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Trouble with money is affecting people up and down the country as the recession continues to grab hold, unemployment increases, mortgage arrears balloon and savings rates hit rock bottom. Despite assurances from the UK authorities that the recession is nearly over it will be some time before the personal finances of millions of people across the UK are back on an even keel. So what are the signs of money trouble?

There are many different areas, some more subtle and others, which can come together to lead to very difficult and stressful times with regards to family budgets and personal finance. It is vital that you put together a sensible household budget and stick to this were possible, ensuring that unfortunately a number of so-called “luxuries” bite the dust. Cutting back on sky TV, takeaways, days away and excess spending in the area of presents and clothes are just a few elements which can have a significant beneficial long-term impact on your finances.

In many ways the recession has given us the option to “get back to basics” with regards to our personal finances and perhaps we will all appreciate what we have in good times compared to what we have in the not so good times. While it is easy to bury your head in the sand and hope it will all go away the reality for many in the UK is that homes will be lost, jobs will be lost and in many cases dignity will be lost. However there are ways and means of reducing the impact that money troubles can have on your personal life and your family life.

Those living in Scotland may be aware of the deed of trust system which is effectively the Scottish equivalent of an IVA and should be considered if you’re in serious financial trouble. It is the very easy to put your head in the sand, it is easy to look at the bright side although unfortunately over the weeks and months ahead many people will have dark days and will feel financial pressure. Taking control of your own financial affairs is a starting point for rebuilding your life and will give you back self-esteem and dignity even if the short-term situation may not be one of your choosing.

Don’t sit back and think, take action today and protect your assets, your home and your family.

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