09:33 23 April 2013
The recent financial news that the UK’s credit rating has dropped from its previous AAA status will no doubt make some people a little uneasy over the economic status of the country. Typically economic struggles are evident throughout society long before a country’s credit rating is demoted.
Though it does indicate a reduction in an ability to borrow internationally, it doesn’t necessarily mean that there is a catastrophe ahead. With planning, research, and careful budgeting, people can take changes in stride and be prepared for some unexpected costs without being thrown into financial turmoil.
If your own economic status is a bit shaky there are a few things you may be worrying about, such as keeping up with mortgage payments. Here’s what you can do to hold onto your house despite a downturn in your economic status:
The good news is that regardless of your economic status, these can be used to try and get you out of a financial pinch.
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