Written by richard on 21 December 2007
The big day is rapidly approaching which leaves me with the final opportunity to wish you and yours a very Happy Christmas and a Healthy 2008.
This leaves me a couple of wishes for 2008 which I hope will come true.
The “Sub Prime” Crisis comes to a swift end.
The Bank of England, The Financial Services Authority and the Treasury get a grip with the instability in the banking sector.
Mr Darling, makes decisions after considering all of his propsals carefully.
The Stock Markets Stabilise.
My clients take me very seriously when I am talking to them about debt.
On a final thought, 2008 will be about Food Prices rising due to the increasing Oil and Raw Material Pricing, it seems that the world has finally woken up to the fact we could be close to peak capacity in many areas of production. Someone please tell me thats not true. However with environmental issues now coming to the fore it could be a final wake up call to deal with population issues.
On that cheerful note, Merry Christmas
Richard Smith
08452269106
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Written by richard on 09 December 2007
More reports about the looming crisis in the Lending Sector seem to point to a bleak future for those that have grown reliant on further borrowing to fuel spending. The announcements from 2 lenders that they will be ceasing to lend ‘unsecured’ will come as blow to many, these are not the first.
So what is the way forward for you.
Budget – prepare one today, know what your spending and income is.
Plan – for Christmas now, set the amount you are prepared to spend and stick to it.
Consider – all of your spending should fall into areas:
1. You have to purchase/pay it – food, Council Tax, some items of clothing.
2. You need it it more than want it – Travel Costs to visit Friends and Family, and some entertainment.
3. Anything outside of the above.
You need to be spending on areas 1 and 2 and nothing on 3.
On a further point, pay cash for everything, get used to spending real hard cash for all of your purchases, get back in touch with your money, feel it learn to realise that once it is spent it has gone and is not coming back soon.
Finally understand how you are manipulated by the likes of the major supermarkets and retailers to spend more, just look around the next time you go shopping.
This will not be easy to do, however a far better 2008/9 is waiting for you once you start.
Compliments of the season to you.
Richard Smith
The financezone.co.uk
0845 226 9016
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