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Saturday, 18 October 2008 |
By Aamir Ziad
 To date more and more people are drawing into debts due to many factors that include high inflation to job losses, from oil price raises to once personal financial matters. As per an estimate UKs current debt is over 1430 bn. An average household is under 9000 to 12000 debts.
The common reasons to get into debts includes Expensive medical bills- There are systems that protect us for health care but sometimes it fails. There could be some unfortunate occurrences that involves staying for prolonged number of days to hospitals. The plan for medical may pay up to 80% of the total expenses but the rest of 20% fall into patients part. This may get into debts if proper saving measures are not being taken already.
The other reasons of falling into debts may be un employment or losing a job. While having a good job with good pay scale we make expenses accordingly. It may be a wide house with a monthly mortgage. Some great drive with monthly car installment. Large credit card bills for grocery, gas and other unplanned shopping items. |
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Last Updated ( Saturday, 18 October 2008 )
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