Personal Finance Action or Not

Kimberly Watson, Editor in Chief
July 25, 2012 /

There a many and varied long and diverse lists by generally self-acclaimed financial experts that tell everyone what action should or should not be taken in their financial situations. They also ensure that plenty of space is devoted to providing diverse and sometimes complex personal finance tips, with variations on different aspects of finance, thereby being covered for all eventualities. Perhaps it is this form of analysis that has contributed to recent financial declines!

The average consumer is usually a straightforward thinking type of individual, who works hard and does their best to provide for their family now and in the future. It is to the benefit of the financial vultures, that the simplicity has been removed from finance and a world created which they would like to think is their exclusive domain. In other words, the old story of waffle baffles brains!

As with any aspect related to life there is a time to take action and a time not to. Personal finance is exactly what the term implies it is a situation that is related to a specific entity and any action depends on their particular circumstances and associated influences. Naturally, there are basic foundations where the personal finance tips of the experts will be relevant, but usually, qualified direct help is needed, especially if the circumstances are severe.

It is now becoming a perception for many consumers that the packaging used to camouflage perceived unpleasantness from them, should be replaced by the old straight talking, shooting from the hip approach. The term “personal finance tips” has connotations with a racecourse bookie. However, unfortunately for the consumers, the economic position many of them are experiencing is far removed from a day at the races.

Various reports have shown that the in its inaugural year, the Consumer Financial Protection Bureau is setting an excellent example in a direct and no nonsense approach. It is hoped this is an attitude that will be pursued by other associated financial entities, to the detriment of the self imposed financial gurus.

 

Share your opinion