Debt clocks of the EU Member States – comparison

Are you curious to find out what is the different debt percentage arround the different EU member states? Now you have access to real time clocks of the national debt and the budget surplus/deficit of the member countries of the European Union (EU) under the Maastricht Treaty in percent of GDP (debt to GDP ratio, surplus/deficit to GDP ratio). According to the Maastricht Treaty, the national debt should not exceed 60.0 percent of GDP and the deficit should not exceed 3.0 percent of GDP.

You can find the information you need here: debtclocks.eu/comparison.

 

Good news on UK Financial Capability

A major new study published in August 2016 by the UK’s Money Advice Service highlights that people are changing their financial behaviours and developing positive habits to deal with money matters.

‘The Financial Capability of the UK’  points to evidence of how millions of people are adapting to deal with tough economic times, and working hard to manage their money. It says that 49% of adults are concerned about their finances but the evidence also shows how people have become more diligent  about their money matters and suspicious of financial scams.

67% agree that we are ‘very organised when it comes to managing money’. People are also checking bank statements more carefully – 54% of adults say they regularly check all incomings and outgoings on their bank statements to keep track of their money; and 40% look for suspicious transactions.

Furthermore, 85% of adults say they are saving – always a good sign that people are thinking to the future and being more responsible!

 

The Cost of Christmas

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There has been a lot of discussion in the UK  about the cost of Christmas and whether we are spending more than ever over the Christmas period. The answer seems to be in most cases – LESS.

A survey by YouGov at the end of 2015 has shown that UK households spent less in 2015 than in 2014 – £796 on average. (Approx €1000 euros) It is the lowest level since 2012 and a drop of £24 on 2014. People cut back on food, drink and gifts, as well as cards and decorations.

The reason is thought to be fierce competition between retailers and the thought in people’s mind that they really shouldn’t get (further) into debt.

Marc Gander of the Consumer Action Group said: “I’m sure that parents are in a huge dilemma. It breaks their hearts when they get themselves into debt simply to bring their children a little magic and to make sure that their kids feel that they’re not left out or inferior to their friends. I have always thought that this time of the year is really Christmas for payday loan companies. It’s happy Christmas for the parents and the children – and a prosperous New Year for the payday loan industry.

Hopefully the FLY project will add to peoples’ knowledge and understanding of the dangers of payday loans …