The Credit Crunch Expert
In August 2007 the Credit Crunch was just starting to bite. I made some
key spending changes then which have helped me and my family beat the credit
crunch. I have developed this website to allow my tips to be passed on to
others so more of us can survive the credit crunch whilst still maintaining
a lifestyle we have become used to.
What Is The Credit Crunch?
An official definition of credit crunch is "An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers."
What this jargon really means is that the banks have less money to lend so the cost of borrowing has risen. This coupled with rising fuel and food costs is putting a big financial strain on businesses and individuals and is now commonly known as "the credit crunch".
What I Did?
Very simply, I reviewed my existing spending habits in 10 areas and set very strict budget rules that were not broken. I am now in a position where I have money in the bank, food on the table, take regular holidays and will undoubtedly pay my mortgage off within its original term. I am not suggesting that I am rich or have unlocked the magic code, it is simply down to basic financial planning and budgeting realistically in the following areas. Money, personal debt, mortgage, cars, household, clothes, holiday, going out, staying in and of course the Kids. Click Here to see the Top 10 Tips of changes I made.
The Next Step
This is entirely down to you. Follow my simple tips and see how even the smallest changes can help you beat the credit crunch.