I come across a variety of articles each week that give me more perspective on issues around personal debt, developments in fintech, or innovation in financial services or maybe in the wider economy. I’d like to share a few of the interesting ones in case anyone is interested. I hope you enjoy browsing through them.
Note, some may be behind paywalls (I will try to mark these) but I will share in case you have access or choose to subscribe.
Please bear in mind that I share these in a spirit of curiosity and personal education. These are not intended to be an endorsement of the content or the publication.
Reading List 13 March 2020
Balanced commentary on the impact of Covid 19 on stock markets and the economy (with a US focus, but relevant internationally). In truth it is far too early to know how we will all be impacted personally, financially or physically, or in our work lives. It is worth trying to stay up to date, but not over-reacting and also to check sources so as not to be misled. Moments of great stress make taking measured steps all the more important.
Definitely worth reading for those who like to shop online and use the facilities of “Buy Now, Pay Later” services (this is not a criticism of any particular business - though the article mentions one) where you can maybe buy products to try or test and return if not satisfied. While it can be useful, it can also led to problems, even if accidentally. One telling quote was:
“A survey released last month by ComparetheMarket claimed two million people have had their credit scores affected by missed BNPL payments.”
While the new service can appear to be helpful, you also need to decide whether this is suitable for you personally, and worth the potential risk.
This was an interesting article to read. We often think about the impact of finance on mental health when ending up in debt leads to further stress in our lives, but sometimes it is our stress or poor mental health that leads to the debt.
It helped me think more widely about this issue for myself and others around me. Spending money to feel better, or “retail therapy”, can lead to trouble - as one useful quote says:
“it’s important to decouple the ideas of spending money and having fun”