By Mr Bankruptcy 26th June 2025 In both personal finance and national economics, debt is a powerful tool – but also a potential trap. The idea of “borrowing your way out of debt” may sound contradictory but it’s something I hear from individuals, companies, and governments. The sustainability and consequences of this approach, however, vary […]
Read moreBy Mr Bankruptcy 16th January 2025 You had a great idea for meeting a need or solving a problem, you spotted a niche in the market and you decided to take the plunge and set up a small business or become self-employed. You turned your idea into reality, but instead of enjoying the rewards for […]
Read moreBy Mr Bankruptcy 30th September 2024 Facing an unmanageable debt is a tough experience but someone not in that situation might assume it was your fault – you can’t manage your finances or spent money recklessly. But it’s rarely as black and white as that; and debt problems are affecting more and more people in […]
Read moreBy Mr Bankruptcy 16th August 2024 The UK news has been full turmoil in recent weeks, but another story also alarms me – and it could badly affect many people – the rise in home repossessions that we’re seeing. But what can you do if you fall behind in your mortgage repayments. A flood of […]
Read moreBy Mr Bankruptcy 15th May 2024 We waited with bated breath for May’s announcement by the Monetary Policy Committee on the Bank of England’s base rate. Would the committee decide that inflation was coming under control and reduce the rate from its recent high of 5.25%? Unfortunately, for anyone hoping that a lower level would […]
Read moreBy Mr Bankruptcy 14th February 2024 When it comes to debt interest, nations can have similar debt problems to businesses and individuals. According to the Office of Budgetary Responsibility, the UK spent £110 billion on debt interest alone in 2023. That’s around £5 billion more than the education budget. At over 10% of total government […]
Read moreBy Mr Bankruptcy 25th January 2024 UK firms are currently having to manage the largest tax burden for decades, in conjunction with a whole host of other economic challenges. What does that mean for the future of Britain as a “nation of shopkeepers”? The tax burden keeps on increasing The current corporate tax burden is […]
Read moreBy Mr Bankruptcy 15th November 2023 Times continue to be tough for businesses and last quarters’ insolvency figures clearly demonstrate just how difficult it still is for business owners to avoid unmanageable debt in a challenging operating environment. Insolvencies are on the increase The most recent government figures revealed that between 1 July and 30 […]
Read moreBy Mr Bankruptcy 28th September 2023 According to debt charities, outstanding credit card debt reached £66.4 billion, an increase of 8.2% (£5.0 billion) in the year to June 2023. This means that credit card debt averaged £1,248 for every adult in the UK. But with interest rates still high and with no immediate sign of coming down any time soon, it’s […]
Read moreBy Mr Bankruptcy 18th September 2023 Financial management is the planning, organising, monitoring, and controlling of financial resources so your business can achieve its goals. By understanding what your business is earning and spending it will offer financial insights so that you can plan more effectively, make better use of resources, improve competitiveness and become […]
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