UK Finance News

Now that the short and sweet honeymoon period has passed for the recently formed UK coalition government, business owners and public alike are taking stock of the spending cuts announced in the emergency budget.

While it was not unexpected many have been left reeling at the severity of the austere measures announced by George Osborne, wondering what the next few years have in store for debt laden Britain.

Far from seeing a light at the end of the tunnel as many had hoped coming into the election, the government has laid out the finances of the country clearly for all to see and it is not a pretty picture.

For the general public the future may look bleak, many of us are already struggling to make ends meet and further cutbacks in the household budget will obviously prolong the pain, but generally being British we are prepared to face up to things and move forward.

Tightening an already strict budget is nigh on impossible and we are often being asked for advice and tips for money making or saving opportunities.

There is no easy answer, get rich quick schemes as we already know exist only for those selling the scheme and often the only alternative course of action is to resort to selling off unwanted household items at boot fairs  or on ebay or to sell unwanted gold and jewellery to a specialist.

If you have the time and some available finance it is possible to make decent money from buying other peoples unwanted items and selling them via the internet or through boot fairs and the like.

However this may involve having to register yourself as self employed and your earnings would then be subject to UK taxes and National Insurance contributions.

The next few years will undoubtedly take their toll, we may have to work harder or longer hours to survive unscathed and now is the time to prepare ourselves for the journey.