Sunday 4 December 2016

Living within our means

Published 05/08/2010 | 05:00

WHATEVER about the bigger picture -- the state of the economy as a whole and the Government's attempts to revive it -- individuals feel the effects of recession in two ways.

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Most immediately, there is the drain on their diminished disposable income due to increased mortgage interest rates and rising costs, such as the 'back to school' inflation recorded in our 'Your Money' survey today.

Then there is the bleak awareness that the billions spent on rescuing the banks, and the huge cost of running the country, will be a burden for our heirs, perhaps for generations to come.

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