Financial buzzwords become common phrase

Ninja loans, Funt, Jingle Mail and Stagflation. These are all terms derived from the financial world, phrases spoken amongst the moneymen and women about our finances and quite often they aren’t very favourable towards us.

Ninja loans for instance sounds pretty snappy and cool but ninja is actually an abbreviation of No Income No Job, Assets, so these are loans that are causing the problems that the financial world has been paying the price for over the past year or so; lending to people who have absolutely no way of paying back the loan.

This kind of practice was especially prevalent during the housing boom in America in the 2000’s and later the massive sub-prime mortgage lending that went on over the other side of the pond. Other terms are not very attractive either such as Stagflation, this is where there is not a lot of growth but inflation continues to rise.

Many people are finding that without significant pay increases then they are going to suffer within a year’s time or less as food, fuel and living costs in general have been skyrocketing. Trying to get loans these days is becoming a real chore too because many of us are being deemed “funt”, .this is another term for Financially Untouchable.

It’s through no fault of our own that we end up in these situations as in general we all haven’t spent the past ten or fifteen years spending our way into debt stopping along the way to get personal loans or a credit card to prolong our spending spree.

The main problem has been the banks and lending institutions as they have been irresponsible when lending to people without checking that they are able to actually even pay back the money loaned. When you consider that many of these people may have more than just a sum of money riding on this, like secured loans for instance may mean losing your home or some other assets it makes the current financial situation much more worrying.