Many years ago I did get myself into trouble when I lost my job and couldn’t find a job that would pay at anything like the rate I was used to.

My initial reaction to this was to use my credit cards for some items like train travel and petrol. I then set up a meeting with my bank manager to see what could be done and we came to an arrangement.

It would have been so easy to carry on spending as I always had done but I was lucky enough to have a pretty good idea of what to do.

What is interesting though is that we get through our mortgage broking business all sorts of clients who want to develop a buy to let portfolio. Often time’s people haven’t properly calculated the true costs of buying and renting a property out so we end up advising against it.

May be we could all do with a better financial education at school to help pave the way for our independence in adult life. There seems to be so many adverts these days promising a better life if we buy xyz product it is sometimes hard to resist.

Whether our schools are in a position to help educate about life and finances is I guess another matter.

Regards

Steve