With the credit crunch tightening its grip on the UK’s economy, is it possible to try and stimulate the economy? The issue that we have at the time of writing this is that people are not purchasing larger items, such as cars, televisions, houses! Smaller goods seem to be shifting ok but the larger financial obligation of more expensive goods is proving to be too much of a burden for Joe Public.
Germany have an excellent idea at the moment of offering minimum prices for traded in cars and this is subsequently giving people good opportunities to buy new cars from showrooms. If you took a quick glance at your nearest car showroom or dealership you will see that it is quite a barren place and therfore the implementation of our German neigbours policy may be a good idea to stimulate the economy.
Although things have tightened up somewhat, there are a group within society that still have an important role to play in terms of stimulting the economy – teenagers. They still have disposable income as a consequence of part and/or full time employment and play a massive role in purchasing goods such as Ipods, Mobile Phones and other high value, smaller electrical items. Teenagers often get bad press, but within the UK economy we need to cut them some slack and embrace thier buying power and the postive, knock-on affect this can have on keeping the tills ringing in the shops up and down the highstreet.
We simply need to try and ride the storm out and try and compound what earnings and savings we already have by adopting a rigid fiscal attitude pertaining to our spending habits. Think about the purchases you make now, rather than shipping everything onto a credit card. This financial storm will end, but as yet, nobody knows when.