Does the class system apply in debt?
January 21, 2012 by Alexandra Kerr · Leave a Comment
A myth with debt is that it only happens to people in the lowest socioeconomic groups in society, but it is little more than a myth. It has become apparent in the last few years that debt affects everyone regardless of class or background.
I have previously discussed an ePetition that was set up to get Financial Education into schools to help the next generation try and avoid the situations that the current generation find themselves in. in actually fact financial education wouldnt solve everything as many find themselves in unaffordable debt due to something happening that is out of their control.
Before the recession hit in 2009, many were able to borrow more freely as they had regular incomes, whether they were employed or self-employed. They were able to meet the monthly outgoings as well as paying their credit commitments.
As the recession hit lots of self-employed people found themselves struggling to make ends meet as business became harder and harder.
Below the breadline on Liverpool’s workless estates
January 11, 2012 by Annabelle Rowan · Leave a Comment
Thomas Bebb cranes his head out of his living room window to assess how many of his neighbours are unemployed. He counts the number of flats in this three-storey, brown-and-grey pebbledash block (12) and pauses to calculate how many contain people in work. There are two: a scaffolder and a nurse. Looking across the courtyard at two other blocks opposite and to the left, he can’t think of anyone with a job there either.
The high numbers of workless households on this estate help explain startling figures produced by the GMB last week revealing that nearly one in three households in Liverpool have no one in work.
Donating this season? Get your give’s worth.
January 11, 2012 by Jackson Beirne · Leave a Comment
Call me a softy, but so many news stories this holiday season have had me in awe at Americans’ potential for kindness. Charitable donations are ticking back up despite the fact that many of the givers are still struggling themselves, and anonymous do-gooders are dropping by layaway counters to pay for the Christmas presents set aside by families worse-off than themselves. I’m absolutely loving the giving spirit! Here’s how to make sure any money you give really works for you.
Make sure the organization will use your money wisely. Check out free reports from the Better Business Bureau’s Wise Giving Alliance (look for organizations designated with the blue and white “BBB Accredited Charity Seal”) and Charity Navigator (check for organizations that have at least three stars). You want t
About Long Term Pension Liabilities
January 11, 2012 by Annabelle Rowan · Leave a Comment
Pensions are long-term retirement plans that are funded by an employer on behalf of the employee. Your employer contributes a significant amount of money toward your retirement. An employer who bothers to set up a pension incurs a liability; this liability is the payment of benefits to you. To meet the promises of the pension, the plan may employ various insurance contracts.
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A pension may employ the use of annuity contracts to ensure that long-term liabilities are satisfied. An annuity is an insurance policy that guarantees payment to an individual for life or a set number of years. A pension annuity provides the employer with a simple way to manage pension liabilities.
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8 Tips to Reduce Your Debt This Holiday Season.
January 9, 2012 by Alexandra Kerr · Leave a Comment
The Holiday Season is the busiest time of year, full of family and friends, good food – and spending. Between the parties, travel to be with family, and gift-giving, it’s practically inevitable you’ll be dishing out a lot of dough. But you don’t have to go into debt during the Holidays that leaves you financially hungover in January and behind for the rest of next year. Plan ahead to minimize your debt, or better yet, not rack up any at all! Avoid the debt collectors by following these 8 simple tips to keep your Holiday spending on track:
- Get on a Budget – Start the season out right by planning how much you can reasonably afford to spend and limit yourself to that, no ifs, ands, or buts. This means you’re going to have to budget for those unexpected holiday expenses that tend to pop up.
- Treat All of Your Expenditures Like Cash – Don’t set yourself up for failure by walking into the glitzy shopping mall with three credit cards and no idea of what you plan to buy. Preferably pay