THE MONEY WELL
Money & Personal Finance
THE MONEY WELL
Copyright @
Moneywell.co.uk 2006-2007
Money &
Debt Reduction
Moneywell.co.uk 2006-2007
Money &
Debt Reduction
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Personal finance is a complex area of our lives, these days. It wasn't always so. You're average agricultural worker a few hundred years ago didn't need to know anything about mortgages, secured loans, unsecured loans, credit cards, debit cards and 1001 different sorts of investment vehicles.
Maybe he was lucky not to need to know but he had almost as much education on the subject as we do. Our education in personal finance is mainly to learn by experience but that can also mean learning by our mistakes.
Our parents & Grandparents couldn't teach us because they had a very different approach to debt. "Neither A Lender Or A Borrower Be" was pretty much their phillosophy. They believed that if you wanted something then you should save up until you had the money to pay for it. It has all changed now.
Maybe he was lucky not to need to know but he had almost as much education on the subject as we do. Our education in personal finance is mainly to learn by experience but that can also mean learning by our mistakes.
Our parents & Grandparents couldn't teach us because they had a very different approach to debt. "Neither A Lender Or A Borrower Be" was pretty much their phillosophy. They believed that if you wanted something then you should save up until you had the money to pay for it. It has all changed now.
A Credit Card is like a revolving door. If you aren't too careful you just keep going round and round. You can never leave
We are not always that well advised by professionals since they would see their favourite product in a better light than others might and they would earn more by you taking out a new financial product rather than you starting a program of debt reduction. The law may insist that they establish what is suitable for a client but nobody can know everything about every product on the market. They don't get commission by you reducing your debts but they get good commissions when you take out a new financial product.
So the best thing you can do is to be well informed. Educate yourself about the possible choices and some of their benefits and disadvantages of plastic payment cards and other financial products. This is exactly what we aim to do here by helping you increase your knowledge and understanding of personal finance. Not all debts are bad but you should keep your debts to a manageble level and be prepared in case there is a change in your circumstances. A lot of people who's lives are turned on their heads by debt do so as a result of divorce , illness or losing their job..
Select from the menu choices to the left to move through this site. Learn more about debt and the many aspects of personal finance and I hope you will keep more of YOUR money by reducing finance costs through knowledge.
So the best thing you can do is to be well informed. Educate yourself about the possible choices and some of their benefits and disadvantages of plastic payment cards and other financial products. This is exactly what we aim to do here by helping you increase your knowledge and understanding of personal finance. Not all debts are bad but you should keep your debts to a manageble level and be prepared in case there is a change in your circumstances. A lot of people who's lives are turned on their heads by debt do so as a result of divorce , illness or losing their job..
Select from the menu choices to the left to move through this site. Learn more about debt and the many aspects of personal finance and I hope you will keep more of YOUR money by reducing finance costs through knowledge.
Copyright Moneywell.co.uk 2007
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