Ron Burgundy
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While the budget cuts are severe and have cost most families several thousand per annum in disposable income which certainly will make people think more about how they spend their income and cut back on luxuries, it should not put anyone who has been sensible about their spending in serious financial trouble.
Did you ever hear of contingency? Most sensible people leave a margin of contingency in their budgeting as there is always a possibility of unforeseen expenses. This contingency is not always about putting money away for a rainy day, more often than not for younger families its a matter of making sure that you do not have too high a percentage longer term committed expenditure that you cannot make adjustments at short notice. Long term committed expenditure includes likes of mortgages and significant bank loans e.g. car loans. If you have too much of your disposable income timed up in committed expenditure, you have only yourself to blame. Chances are if the tax increases didnt get you, something else would have within the next few years.
So i'm not the only one with this view and the fact that the now generation have a serious shock coming in the next while !