Clearing debt

Since I have published my book, Back to the black how to get out of debt and stay out of debt, I have become convinced of one thing, we may not realise it but we are living through a period that will go down in history as a political and economic change unlike any we have seen before.

In the book I talk about how to organise your finances to ensure that you live within your means and can pay your debts. But the fact is most people don't. In America the average person lives on about 122% of their income. In other words they borrow against future earnings. In Europe we are not quite as bad but not far off.
OK quick question, who are we borrowing off?
Answer China.

The Chinese are bailing us out big time. This has an effect that we need to be aware of: the Chinese will emerge as the global dominant power by 2050 at the latest and the power of the USA will wane. This is already in the system and frankly it is too late in many ways to do anything about it. Or is it?

Well there are things we can do at a personal level and one of them is to live within our means. Think about what this means in real life. It means you do not owe anything and you own everything. It means there is nothing in your home that is on HP, there is nothing that you do not own outright.

Remember what I have said in the media about credit:
'They agree to lend you money and you agree to make them wealthy'

That is the reality of this type of lifestyle and it is not sustainable. It also has political implications and I will be writing about this in future blogs. In the meantime if you need help with finances it will be my privilege to help, my book is called Back to the Black, how to get out of debt and stay out of debt published by Aber Publishing isbn 978-1-84285-141-8