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As we enter 2016 the world is in turmoil. Many countries are still trying to balance their finances since the crash of 2008/9 and austerity is ripping countries apart. China is feeling the impact of massive cut backs in the west with production rapidly slowing. The austerity programmes administered by western governments in the wake of the 2008 global financial crisis were, of course, intended as a remedy, a tough but necessary course of treatment to relieve the symptoms of debts and deficits and to cure recession. But if, David Stuckler says, austerity had been run like a clinical trial, "It would have been discontinued. The evidence of its deadly side-effects – of the profound effects of economic choices on health – is overwhelming." The Guardian Europe struggles to recover And is hit by a huge migrant crisis from places like Syria and Afghanistan to name just two countries taking advantage of Germany’s generosity. More than a million migrants and refugees crossed into Europe in 2015, sparking a crisis as countries struggle to cope with the influx, and creating division in the EU over how best to deal with resettling people. The symbolic milestone was passed on 21 December, the International Organisation for Migration (IOM) said, with the total for land and sea reaching more than 1,006,000. The figure covers entries via six European Union nations - Greece, Bulgaria, Italy, Spain, Malta and Cyprus. BBC News High Temperatures and Heavy rain Even the weather is confusing as unusually high temperatures and heavy rain are causing serious flooding and wild life, plants and trees continue flowering or start flowering out of season.
UK Votes to leave EU And then on the 23rd June 2016 the United Kingdom voted to Leave the European Union sending the world stock markets into a spin and forcing the pound to its lowest level against the dollar for many years. What will be the impact of this dramatic decision on the pound in your pocket over the coming years, no one knows at this time, basically because no one has a clear plan. By now you might be asking, what has this to do with debt, let me explain. More and more people are being drawn into believing that there is light at the end of the tunnel, the tunnel of life that is. In the process we are given hope in the form of cheap loans, mortgages and low interest rate credit cards to help us live the lifestyle of our dreams. The proportion of household debt is at its highest for five years, according to an analysis by the TUC. On average, UK homes owed 26.5% of their annual income on loans and credit cards in the third quarter of 2015, the highest rate since 2008. The figures - based on data from the Office for National Statistics (ONS) - include student loans, but exclude mortgages. The average amount owed by households is now £11,800, the highest level yet. However, debt was proportionately greater in 2008, when it reached more than 30% of household income.  BBC News
“Solving debt is very much a state of mind. The first thing you need to do is know where you are now, this means recording everything earnt, everything you spend and everything you owe. Having established your current financial status, now you need to find ways of cutting your outgoings so you have suffieicient funds to reduce your debts. Always make sure you pay off your Priority Debts first” Debt Coach
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