With the current economic climate and the problems in the economy, families are now struggling to make ends meet. This is an extremely worrying scenario which to be honest does not look like coming to an end any time soon. The burden on people and especially young families is huge and the government must put in measures to stem this down turn.
Drastic measures are going to be needed to make our lives a little more comfortable and less stressful. With increasing unemployment as well as businesses now struggling, finances and money are now at the top of the agenda for families and business people a like.
In order to survive more and more people are pushing themselves in terms of finance and this can lead to higher debt and financial problems. These debts problems are now of major concern and solutions need to be found to ensure that they do not spiral out of control.
Having finance available to families and businesses is now even more imperative but having said this the output of debt needs to managed prudently. If this does not happen, we will see the economy fall even more. Lenders need to be able to ensure the loans and debts taken up by the public can be repaid and also done on time.
A perfect example in which this was not done is in the housing market. Mortgages and loans were given out very easily and this practice was not regulated enough. People were given money even though it was clear that it would have been impossible for them to make the payment back to the lenders.
So in conclusion, I do feel debt is an increasing problem which needs to be tacked with intelligence and good planning. Without this we could be in for even more trouble.
Drastic measures are going to be needed to make our lives a little more comfortable and less stressful. With increasing unemployment as well as businesses now struggling, finances and money are now at the top of the agenda for families and business people a like.
In order to survive more and more people are pushing themselves in terms of finance and this can lead to higher debt and financial problems. These debts problems are now of major concern and solutions need to be found to ensure that they do not spiral out of control.
Having finance available to families and businesses is now even more imperative but having said this the output of debt needs to managed prudently. If this does not happen, we will see the economy fall even more. Lenders need to be able to ensure the loans and debts taken up by the public can be repaid and also done on time.
A perfect example in which this was not done is in the housing market. Mortgages and loans were given out very easily and this practice was not regulated enough. People were given money even though it was clear that it would have been impossible for them to make the payment back to the lenders.
So in conclusion, I do feel debt is an increasing problem which needs to be tacked with intelligence and good planning. Without this we could be in for even more trouble.
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