Credit Crunch Myths
|Published: 3rd February 2009 14:05|
MSN Money has highlighted 10 myths about the credit crunch, and explored these on your behalf.
Here, in brief, are the myths. You can learn more by looking at the full article on the MSN website.
- Borrowing money is impossible
- Your money isn't safe anywhere
- You're better off keeping your money under your mattress
- It's worse than the Great Depression of the 1930s
- Mortgages are cheap
- You can't get a credit card
- No one's job is safe
- Utility bills will soon top £2,000 per year - and that's if we don't run out of gas before then
- Bank stocks are cheap
- The government isn't doing enough to help
Thanks to Andrew Fee of Northern Star Financial Management Limited for highlighting this article.
For a review of your investments and advice on what to do with your money during these difficult times, Northern Star can be contacted on 01706 836048.