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Learn to budget or face financial ruin!

Only last week we saw the disappointing news that more and more people in the UK are now using their credit cards to pay their household monthly bills. This comes at a time when UK credit card interest rates are at ridiculous levels, often in excess of 20%, and more and more people are struggling to cover their monthly obligations. There is a need for all of us to learn to budget otherwise we could face financial ruin!

While there's no doubt that many people in the UK are literally living from hand to mouth at the moment there is also no doubt that many people, not everybody, could at least shave some expense from their monthly budget. Do we really need to Sky TV, Sky multiroom, takeaways and other luxuries, especially in these troubled times?

Even though it would be foolish to suggest that everybody in the UK can make ends meet by cutting back on luxuries, there is no doubt it will take some of the pressure off in the short to medium term. Traditionally recessions in the UK have been fairly short-lived but this recession is very different and it will have long-term side effects for both businesses and consumers across the country. We all need to learn to live within our means, so what better time to start than now?

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