I haven’t had THE call yet from George Osborne, but he knows where I am for advice, any time he needs me, and oh boy! He NEEDS me. As a country, we owe £952.8 Billion or 64.6% of GDP. Let me explain that in terms of my personal economics. 66% of our total combined after tax incomes go on debts, including our mortgage, which is of course, a debt. So, the whole country is in the same state that I’m in, up to its neck! (ANOTHER WAY? CLICK HERE!)
Like me, the country has to pay back the money it owes. I had to make some crippling decisions to work towards being debt free. I had to give up anything that I didn’t need to survive on. Not only did I have to give up everything other than the most basic essentials but I couldn’t spend any money. If I have peeling paint; it has to peel. The heating can’t go on. Clothes can’t be bought new. Presents are homegrown and homemade. It is tough and it’s going to be tough for a very long time.
This all means, that the biggest percentage of all the taxes raised by the government goes towards paying the national debt, and with all big debts, the interest charges alone cancel out the payments made and the debt just keeps getting bigger. The only way to stop this kind of debt is to take the drastic action of not spending any money and that is what has to happen in the country. The country, like me, is so in debt that it can’t afford anything new for years to come. The country, like me, can’t leave a single light on in any publicly funded institution after the office/classroom/centre closes at night or for the weekend. Everything I have will have to last, will have to do and that’s the same for anything that’s publicly funded.
Private businesses have felt the sharp hand of the economy since 2008 and we have all watched pubs, shops and post offices close as money became short. Businesses stopped hiring, staff who retired were not replaced and thousands of people lost their jobs…….rememberWoolworths? People couldn’t get mortgages and then people couldn’t sell their houses and up and down the country, people suffered.
Now it hits every aspect of public life; there isn’t any money. The country is in the same financial state that I’m in. I spend 66% on debts every month, 24% of household expenses such as food, water, light and there’s only 10% left for servicing the car, dental bills, clothing, days out, Christmas and birthdays. The country, like me, spends most of its income on ‘servicing the debt’.
Give me a call George!!! You need me! The whole country needs to live like Frugal Queen. Nothing can be replaced, nothing can be bought, nothing can be wasted. Put me in charge and I’ll have the Royal Parks dug up to grow food! It might seem flippant but, just like in war time, we need to keep every penny we can and help each other to live as frugally as possible. We need a public information service helping people to make do and mend, to not waste food, to share what we have. People need to cope through this incredible storm.