Friday, 11 November 2011

Wasn't Even That Big A Debt!

We’re becoming a nation of shopaholics! I’ve always thought that was a bit of a joke but addicted or compulsive shopping is actually a recognised clinical condition! Why didn’t anyone warn me?

Seriously though, it’s easier than ever for people to get in debt and believe me that is not a situation you want to be in. I’m still paying off my student loan. It comes out of my wages each month along with tax and national insurance, and it wasn’t even that big a debt!

Getting into debt can totally take over your life, so that all you are doing is working really hard and giving your money to someone else.

And guess who banks and loans companies are targeting with their adverts? Yep, you! Britain’s young people. Because they know that if they catch you early they’ll have you for years.

So be sensible when managing your money. I know we all do stuff to excess when we’re young, but believe me you DO NOT want to spend the next twenty years paying for stuff you probably don’t need anyway.

Money makes the world go round

Money makes the world go round

Sorry I’ve not posted on here for a while but I’ve been so busy with work you wouldn’t believe it!

Anyhow, I was thinking about money today and how much control it has over us. This is kinda silly really, because what actually is money? You can’t eat it (unless it’s chocolate money – hmmm, chocolate money…), it doesn’t do anything, it’s just little bits of funny shaped metal and paper with a face drawn on it.

But of course, it’s so much more than that. And even the idea that it’s just bits of metal or paper is pretty old fashioned isn’t it – most of it these days is just electronic information.

What’s worse is that it's so important to take charge of your money at as young an age as possible, to avoid being controlled by things like debt or bad credit ratings.

So, I’m going to give you two bits of advice my Grandad gave me when I was about 12.

He said “Look after your money and your money will look after you”, and “Neither a borrower nor a lender be!” And of course I ignored him at the time, but I’m beginning to think he might just have been right.

How easy do you find controlling where your money is going?