Archive for March, 2007

postheadericon We Will Never Return to the Old Boom and Bust

Gordon Brown last week gave his 11th Budget speech and would you believe it, he’s still speaking those words…

….And by holding firm to our commitment to maintain discipline in public sector pay, we will not only secure our 2 per cent inflation target but create the conditions for maintaining the low interest and mortgage rates that since 1997 have been half the 11 per cent average of the previous twenty years. And we will never return to the old boom and bust.

Now forgive me for being cycnical, but surely the good times can not role on forever?  If they do then great.  Just think how much better it will be if you didn’t have a mountain of debt.

However, if the economy does start to stutter and we end up in a recession then even more reason to make sure you’re ready to beat debt and get on top of your personal finances.  Whether it’s mortgage arrears, credit card debt or struggling with loan repayments, make sure you stop and take a look at your finances so that moving forward you yourself don’t go bust!