11 March 2009

The statistics...

I thought this week I would review some ‘interesting’ statistics which have just been released!
Credit Action suggests that today in the UK:
- 323 people will be declared insolvent or bankrupt. One person every 4.5 minutes.
- 2,430 County Court Judgements will be issued
- 144 properties will be repossessed
- 33,600 applications for credit will be declined
- Unemployment will increase by 1,600
- There are more debit/credit/charge cards in circulation than people, with an estimated 73m in use…
Let’s stop there and see if we can put a positive spin on this:
- Average house prices for first time buyers now stand at £140,857
- According to smile.co.uk, the credit crisis has made 64% of Britain’s change their attitudes towards spending. The average Brit saved £1,882 in 2008, but plans to increase this to £2,605 in 2009!
And the reality…
Openness about finances is important to a relationship. A new survey from CreditExpert.co.uk suggests a very different story:
- 1 in 5 adults admit they haven’t told their partners what they owe!
- 10% (3.2m) have set up a secret bank account!
- Women are more suspicious than men (not new news!), with 31% secretly looking at their partner’s paperwork, against 24% of men!
- While 17% of men aren’t telling their partners what they really earn, against 13% of women, 28% of females do not own up to the full amount of their spending on clothes and shoes, against 11% of men….
So where am I leading with this? Undoubtedly, it is time to batten down the hatches, extract heads from the sand and review your finances. A visit to AToM, for impartial, independent advice, could help you see through the next few months more comfortably, especially if you find yourselves in, or approaching any of the above categories.
We are delighted to be exhibiting at Microbiz at the Drill Hall, Denne Road on the 14th March. Do visit us there or pop in to our offices in North Street, Horsham at any time. We will be pleased to assist you.

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