‘Happy Dreams’ to my countrymen

It seems that many of us have learned how to live with our debts. Our debts are very much a part of our life. OK…you may not agree with me. But, I have some interesting facts and figures that show that we indeed are heading towards a point of ‘no return’.

Do you know that the UK’s personal debt is increasing by £1 million every 4 minutes? It sounds wild but it is true. People are taking out personal loans like anything. And, if you are good at statistics, here are some more. Just consider the fact that an average household debt in the UK is £8,816 excluding mortgages, and £54,771 including mortgages.

It is common knowledge that Brits are debt-prone. But, if a majority of them refuse to plan their finances then they are even more likely to be in trouble. A recent NS&I survey tells us that 55 per cent of the Brits do not have any financial plans for the future.

The survey also reveals that around one-third of the Brits are living in their dreams. They are fantasists who depend on money that they may never receive. It was found that almost one-fourth of those questioned were not worried about their future financial position because they were expecting their salaries to increase. Five percent were hopeful of being able to take out personal loans and four percent expected a windfall or inheritance. So, all I can say to such people is ‘Happy Dreams’.

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