Unbelievable two million people in UK have decided to pay their mortgage or rent on a credit card for January, according to the stats from a government survey that's up a massive 50% on last year.
This all means that when it comes to pay it off next month they'll need double! Now I'm sure some people will be able to cover it but I expect a lot won't which means they'll been paying silly interest charges on the money they owe. If they are lucky and manage to avoid eviction or repossession they may just be able to pay it off in time for next Christmas and start the whole process again!
This all means that when it comes to pay it off next month they'll need double! Now I'm sure some people will be able to cover it but I expect a lot won't which means they'll been paying silly interest charges on the money they owe. If they are lucky and manage to avoid eviction or repossession they may just be able to pay it off in time for next Christmas and start the whole process again!
All it would take to really ruin the plans for some of these people is one big bill to come along such as the car breaking down and needing a new one or a boiler breaking at home and for want of a better word they are 'stuffed'. In hindsight it would be better to be frugal over the course of a year saving the money for Christmas and then using that, you've then made a bit of interest too, at the end of the day everyone should be able to save that bit extra and if not then how have they got credit cards! Okay that's the financial companies fault and a different blog post.
If you are in debt or know someone who is then I know a great guy who can help I call him Dr Phil (Dockerill) from Debt Dr
Until the next post
Paul
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