I just read some news that was a bit not nice, “Universal Credit Claimants Overwhelmed By Debt”.
Not a good sign.
But it is a sign of the times….unfortunately.
The Times They Are a Changing…
So sang Robert Zimmerman…look it up.
And our times are changing now.
Inflation is up, wages are not keeping pace, and oddly enough, in my part of the world, while you would think there would be more jobs….there are not!
Oh, don’t get me wrong, there are jobs out there being offered. Just not at the rate or types of jobs I would have thought or expected after the lock downs, and offices being closed and people working from home, furloughs, etc.
And when you get to be my age…well….jobs become harder and more difficult to get.
If you couple these factors:
Inflation
Unemployment
Debt
You get as they say a “perfect storm”.
When I read the extent that people are going to in order to make ends meet, it makes me sad:(
Not heating their homes, turning fridges off, (that one got to me), eating cold meals as to not use gas or electricity, living in the dark to save on electricity due to lighting, not eating and the use of food banks, this list can go on and on, and I don’t want to hear any more of the stories I have read or been told.
The government needs to respond.
Will they respond? Who knows?? We may not be at War, but there is a War going on.
If you are in debt, it is stressful. Stress is not good.
The majority of banks and lenders I have spoke with are very willing to help and work with their customers. This is a good thing.
And if you need advice or have questions regarding debt, personal, or business finances, just ask.