After the long difficult economic climate that everyone has had to live through, most people are feeling much less well off than they had hoped they would be.
Now with the value added tax being increased to 20%, matters financially for most are only going to get worse, and we are all wondering in our heart of hearts how we are going to survive, as it is getting more and more difficult to make ends meet.
It almost seems that each time we go for groceries at the supermarket that we have to pay out more money for our food every single time we go shopping.
With the VAT now at 20% the cost of a new car that we so badly need may well have to be put on hold until next year, and with our old car already on it's last legs maybe it will not keep running for another year. It would be a shame to be left without a car as our elderly, infirm mother relies on it when she is out for the only time each week, when we take her around the park five miles away where we push her in her wheelchair.
After twelve months of financial hardship, coupled with one of the worse Winters in living memory, many people would not only like a holiday in the sunshine, but they very much deserve it.
For homeowners, both employed and self employed, there are ways of arranging your finances in such a way that you can pay out less each month while at the same time have money left for a holiday, a new car, etc.
The way to do this is by debt consolidation or simply consolidation..As their name clearly suggests these are a means of combining all debt into the one payment which replaces all other high interest debt on such things as credit cards cards, personal loans, etc.
The interest rates for credit cards ranges from about 20% to 40% or even higher, which means for someone with balances of £20,000 the minimum payment would be £600,and on a balance of £50,000 the payment would cost at least £1,500.
It takes twenty six years to totally clear the balance if the minimum is paid each month. It is not difficult to believe why people have so little money left over.
The best way, for those who are homeowners, is by arranging a secured loan or a remortgage which are both low interest homeowners loans costing from about 9% for the former and from less than 2% for the latter, and it is therefore obvious how much money can be saved by debt consolidation, and even your elderly mother will not be deprived her weekly car trip.