According to recent reports and discussions on media platforms, the credit crunch is extending a hand to areas previously thought to be in a more sound financial position.
The credit crunch and its effects prove confusing territory for many of us. Everyone from couples saving up to buy their first house or wondering if they can afford to have a child, to young professionals who rent are suffering a small but significant squeeze due to rising food and petrol prices.
Financial experts offer soundbites and prophecies of impending doom but these do little to engage the majority. Hardly anyone who is not involved in the world of banking or finance understands the 'techie' terminology but no one wants to admit that they need a beginners guide.
The event christened 'credit crunch' by the news media has taken on the attributes of a black hole, dense yet unfathomable. Articles on the subject that have amassed on the internet are wide in opinion and varied in attitude.
Are we to believe the news media? It doesn't help that memories of millennium bug and bird flu scares are still present in people's minds. We seem to be getting less gullible as readers, feeling as though we can come to our own conclusions from our own experiences and research rather than reading what we should be scared of in the morning's newspaper.
Buy-to-let mortgage holders - home owners - first time buyers - retailers - consumers - students - You NEED to know how the credit crunch is going to affect YOU.
We all know money doesn't grow on trees but that it does affect everybody so here are some up to date and helpful links I found to guide you through the financial wood.
(1)
MSN money has a personable and helpful article on understanding the crunch at a tangible level and offers simple and useful tips on how to protect your self against economic instability.
(2)
Guardian.co.uk has an excellent article on how the credit crunch is affecting full time buyers and is laid out in a reader friendly question and answer form.
(3)
Fair Investment Company offers some good advice to buy-to-let mortgage holders on student properties and investment opportunities.
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(5) See how the credit crunch affects
buy to let mortgages at http://www.mortgagesforbusiness.co.uk
Only a few articles but comprehensive and clear. They are a digestible way to start researching the credit crunch and pick up good baseline knowledge of the economy.
