Firm advises loan borrowers to live within their means
In a stark announcement to the nation, a spokesperson for one of the UK’s leading financial advisory institutions has warned loan borrowers to reduce their level of credit consumption.
Referring specifically to those borrowers who run into serious financial difficulty as a result of an “addiction” to continuous credit acquisition, the expert stated that a large percentage of borrowers appear to have developed an overly relaxed attitude towards borrowing, and are putting their personal desires above logic and reason.
To put it in simple terms, very few people in today’s modern society are willing to wait (and save) for that item of luxury, preferring to borrow, often regardless of the cost, in order to have it there and then. It is highly likely that this reason in particular is responsible for fuelling the growth of the UK’s debt mountain, which currently stands at more than 1 Trillion pounds.
He further suggested that if the element of “want and need” were to be removed, most people would be quite able to manage and indeed live comfortably off their annual salaries, avoiding the hardships associated to mismanaged credit as a result.
