Credit crunch time

Is coming, not if but when

Talk is appearing more and more often since the American sub prime mortgage situation

At first there were to be no knock on effects

Then when that became obviously wrong

Talk about consumer credit problems becomes more frequent

It does not take rocket scientists to work out that times are a changing

So do you have credit cards?

If yes then time to pay off what you can

Conditions are unlikely to get better immediately so pay down those out standings

You may not find this easy

However if you want to sleep better at night then this is the way to go

Credit has been an insidious facility since time immemorial

With generation after generation falling for the soft voice of those offering credit

All goes fine until one day something changes

And this something might and often does have nothing to do with you

However you will be caught up in it

Base your life on what is possible with your earnings not your fantasies

Indeed if your life has no slack in it moneywise then any slight tightening will catch you out

Build your life on reality not credit

A cruch is coming.