For a few quarters now, Bank of England has been attempting to keep the situation under control by keeping its base current unaltered. How far this decision of Bank Of England has really helped economy get back to its track is being subjected to a lot of criticism. Lots of mortgage lenders have tightened their reins and there is a dip in the number of first time home buyers trying to climb up the property ladder. The current downward trend is also an effect of the global economic setback and its cascading impacts.
Well ...what does all this mean to a common man and how does it boil down to his day to day life?.
Wife: hey John...why don’t you take me to some place expensive and make me feel special?
Husband John: Oh sure honey..I shall take you to the gas station.
This was a joke published in Readers Digest. One can just not be practically oblivious to the changing times. The prices of all the commodities have been steadily increasing. Petrol seems to be ridiculously overpriced. Although the supermarkets are fiercely competing with each other to offer the cheapest prices for its products..one still can’t escape the pinch of steadily and sneakily increasing grocery bills . The energy providers are adopting a very impressive way to declare the increase in the charges. They claim:
“We are one of the last companies in UK to increase the energy prices ” .
As though.. this is going to be a source of solace for its customers, especially with the winter fast approaching.. At least I am happy that these energy providers know how to break a bad news with a sugar coated wrapper. There are waves and waves of price increases .Such is the state in UK today.
But what do we really like to hear???
It is not all gloom and doom
We could console ourselves that this condition of uncertainty and instability has not been forecasted to hang around forever. The general word is that by the end of 2010 , we could see a change for the better. I hope it is ok to believe this.. as it helps to keep my chin up during difficult times and keep hoping for some positive changes to happen soon.
Another area that we could capitalise on ...is the attractive interest rates offered by the banks in return to our savings .Some short term and long terms saving accounts have been offering interest rates between 7 and 10% .This is a good news for people with a considerable amount of cash to stash away. Personally I have found the Motley fool’s site:
http://www.fool.co.uk/
to be a very informative and a useful site that gives me regular updates on almost every financial aspect under the sky.
Regular use of price comparison sites and hunting for the best deals in supermarkets and high street shops never fail to offer an advantage over impulsive shopping. The clubcard deals offered by Tesco is truly a wonderful opportunity for us to visit a lot of places or enjoy a variety of experiences from days out, activities and holidays.
http://www.tesco.com/clubcard/deals/
Make the most of all this and Enjoy!!!!
