FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Will you return to excessive spending when the recession is over?

As talk of a recovery in the UK economy continues to build many people are now looking to the future with more confidence. However, there is the potential for this confidence to create complacency and a number of consumers and businesses could well return to "excessive spending" before their finances are fully recovered. It is no secret that UK personal debt was at record levels prior to this recession and remains relatively high with money tighter than ever.



As the economy finally moves out of recession, it is vital that we still look to maintain our budgets and live within our means for the foreseeable future. Those who immediately return to the days of borrow and spend may well find themselves in an even worse financial situation despite a recovering economy. Do not be fooled into thinking an increase in economic activity will immediately filter through to your wage packet because it won't and it will take some time for many businesses to get back on their feet.



An improvement in economic activity is encouraging but this needs to be appreciated within the wider picture of a very difficult period of economic activity which has affected all areas of the UK.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue