Posted July 27th, 2011
by Keira Browne
This morning I spoke with Julia George on BBC Radio Kent about the latest report released this week confirming women are now delaying having babies due to financial worries.
Asked to speak on the programme, I gave my views on this subject based on my experience from working at ClearDebt as well as being a parent myself.
Let’s look at the stats first: (provided Friends Life: Visions of Britain 2020 Survey)
- More than four in ten women in their 20’s are now putting off having children because of financial worries.
- 42% of working women under 30 are delaying having children due to financial worries.
- 29% of working women over 30 are delaying having children or extending their family due to financial worries.
- Around one in six mothers said they “delayed having children due to financial pressures” – this statistic rose to one if four in families where there is already a child under four.
Our own data shows, families coming to us with money worries and debt, do so when their first child is around 3 years old – this indicates that although they struggle when the newborn arrives, they strive to cope financially…but in the end, the pressure gets too much and vital payments are missed. So – should w
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Tags: Worries, Worries Debt Posted in Debt Consolidation
Posted July 25th, 2011
by Amber Cattanach
The economy may be recovering slowly, but many small business owners are still having trouble getting enough capital together to cover their needs, and are therefore relying more heavily on the ability to take on credit card debt.
The majority of the nations 27 million small businesses rely heavily on credit cards to provide working capital, and the ongoing economic problems in the country have caused many to increase the amount they borrow and scale back the amount they pay on their monthly bills, according to a report from the Wall Street Journal. Full Articles…
Tags: Needs Posted in Financial Tips
Posted July 25th, 2011
by Jessica Goodenough
In a televised address to the nation on Monday night, President Barack Obama asked Americans to pressure their elected representatives to work out a compromise on the federal debt ceiling. As he’d done in the past weeks, the president made a point to emphasize the devastating effect failure to come to a comprehensive debt deal would have on the nation.
Congress Still at Stalemate Over Raising Federal Debt Ceiling
In what was Obama’s seventh prime time televised address, he sought to the increase pressure on congressional leaders to reach a debt deal that would allow the government to keep borrowing money to pay its debts after Aug. 2–the date the Treasury Department set for the nation’s default after reaching the debt ceiling on May 16.
He went on to say that House Republicans had created the stalemate by refusing to compromise on a fair deal and then asked Americans to step in and pressure their lawmakers to come to an agreement.
“If you want a balanced approach to reducing the deficit, let your member of Congress know. If you beli
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Tags: Debt Ceiling, Pressure Posted in Debt Consolidation Online
Posted July 25th, 2011
by Keira Browne
Rhode Island will offer nursing students zero interest student loans if they agree to work in the state after graduation.
Gov. Lincoln Chafee (CHAY’-fee) plans to announce the new initiative Tuesday. It’s designed to address a projected shortage of nurses in the Ocean State.
To qualify, nursing students would have to agree to work at a hospital or other health care facility in the state. In exchange, the students would not have to pay interest on the loans for four years after they graduate. The loans would be offered by the Rhode Island Student Loan Authority.
A 2009 study by the state Senate estimated that the state will need 6,500 additional nurses by the year 2020 to keep up with aging baby boomers.
Tags: Nursing, Student Loans Posted in Debt Consolidation
Posted July 24th, 2011
by Jessica Goodenough
Major banks report that the rate at which consumers default on their credit cards continues to decline. This improvement in the credit card market now sends profits soaring among the top banks in the country.
Banks enjoy improved consumer credit card management in the form of a smaller number of seriously delinquent accounts as well as in the total number of generally delinquent accounts primarily due to the fact that banks eliminated many of their risky credit card customers during the recession. As the economy begins to improve, credit card lending rules have tightened, making sure that unqualified candidates are denied credit cards, improving the stability of bank credit card operations.
Of the top 6 credit card banks, only one reported an increase in 30-day delinquencies while all six report that the number of charge-offs which are accounts banks give up as noncollectable has decreased over the same period.
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Tags: Credit Card, Profits Soar, Soar Posted in Debt Consolidation Online