Tag: money

Coronavirus: Debt letters ‘make money problems worse’

Image copyright Rachel Edwards Image caption Rachel Edwards is now on a debt management plan Rachel Edwards has faced mental health difficulties for decades. Bouts of depression have also brought financial problems for the 43-year-old grandmother. She believes that letters, warning about falling behind on debt and which lenders are compelled to send by law, are often counter-productive. “You get… Read more →

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Could you have to pay your bank to save money?

Image copyright Getty Images Image caption High street banks in countries with negative interest rates have so far been reluctant to pass them on to customers Countries are being forced to use extreme measures to keep the economy afloat amid the coronavirus crisis. Now, the Bank of England has signalled that it may take the cost of borrowing below zero.… Read more →

Coronavirus: Where do governments borrow money?

Image copyright Getty Images The government has taken wide-ranging steps to try to limit the economic impact of coronavirus. But measures such as the furlough scheme will be expensive. And government income is down because, when people earn and spend less, they don’t pay as much income tax and VAT, for example. That means the government will have to borrow… Read more →