Debt Consolidation – The Celebrity Big Spenders
Celebrities know how to spend, and in the past decade a proliferation of glossy magazines dedicated to how they look, their clothes, make-up, style, personal trainers, homes, partying and plastic surgery have emerged on our news shelves. We can't get enough. But are celebrity big spenders to blame on the UK's spiralling debt problem? Debt consolidation is something more of us are facing up to after years of over-spending and easy credit. Shopping, image, home improvements, holidays and partying were once things considered luxuries you saved up for, not entitlements you put on a credit card. Perhaps the celebrity lifestyles we aspire to when we buy the glossy magazines are somewhat to blame.
Debt Consolidation: Celebs aren't Immune
Debt consolidation however isn't something celebrities are immune from. Their lifestyles are expensive to maintain – and in some cases, some celebs fall victim to bad finance. Debt consolidation was always a theme for the Happy Mondays' dancer Bez. Back in 2004, the maraca-shaking celebrity was declared bankrupt but he went into the Celebrity Big Brother house and hauled himself out of debt by winning the £50,000 prize. But Bez could have done with some debt consolidation advice – since then he has been declared bankrupt again: the High Court of Justice made the ruling in March this year.
Does celebrity encourage over-spending?
But it isn't just the celebrity lifestyle that can be blamed for setting a bad example on excessive spending, landing many people with hefty debt consolidation loans. A recent news story outlined how glamour model Katie Price, aka Jordan, is launching her own credit card. Many fear such a move will encourage more youngsters to enter debt at an even earlier age leaving them with a lifetime of money problems and debt consolidation fears. The card is said to be ‘pink and girly'; the fluffiness of the credit card, it's felt, turns spending and debt into a frivolous thing. And the celebrity endorsement it's feared will encourage young women to overspend. Debt consolidation loans are already increasing in younger generations as a result of the combined cost of education and over-stretching themselves to get onto the over-inflated property ladder. As the credit crunch deflates the economy even further, some new homeowners run the risk of negative equity; debt consolidation could be the only way to salvage their homes from repossession.
Speak to Kensington Finance for debt consolidation and debt management solutions.
Kensington Financial Management Consultants Ltd is a total finance solutions company helping people all over the UK. We speak financial sense. We will allocate you a friendly advisor who will chat through your current situation and formulate a plan for you without obligation. Let us work out a financial solution based on your individual circumstances. It's our aim to help everyone who contacts us. With debt solutions from debt management and IVAs, mortgages & re-mortgages, secured & unsecured loans and advice and information for debt consolidation, bankruptcy and Trust Deeds, we can help. It really is worthwhile giving us a call or applying online today for a confidential chat with one of our friendly advisors. Call FREE on: 0800 096 4409.