Scotland is the beautiful country with rich history and brave people. However, it has become increasingly difficult to live in Scotland. This does not necessarily have everything to do with our harsh climate, but rather with the financial aspects of life in Scotland. Especially when it comes to loans, Scotland doesn’t seem to be a true paradise. If you want to learn how to survive in Scotland, this financial guide might help you.
Facts About Scottish Finances
There are many things we can talk about when it comes to Scottish finances, but I think that it is better to stick to the facts. The facts speak for themselves, and what they say is not really optimistic when it comes to financial situation in Scotland.
Glaswegians Are Crazy Over Loans
The increase in payday loans in Scotland is absolutely astonishing. The recent report suggests that 1.7 million people took out payday loans cross the UK. As for the Scottish region, in Glasgow alone read and borrowed more than £57 million through payday lenders, home credit deals, pawnbrokers and rent-to-own schemes in just one year. The impact which these loans have had on the mental health of Scottish people is certainly a reason for great concern. The increase in anxiety had been thought to have originated from the increase in debt. The public health research specialist at Glasgow golf Centre for Population Health Chris Harkins, says that ‘There is no doubt that spiraling unmanageable debt is absolutely corrosive to mental health’.
43% Of Low Income Scots Cut Back On Food To Pay Bills And Debts
In order to play bills and debts, Scots have not only succumbed to getting a payday loans, but they are also increasingly cutting back on essentials. It has been reported that 43% of low-income Scots actually cut down on fraud in order to play bills and their debts. This is how the poor in Scotland a more affordable basic services, and actually become even poorer. This situation requires work you do your financial measurements, and this problem must be addressed as soon as possible.
Loans For Scottish Homes
Since recently the Scottish government has also established fund of £4 million that will be given to people were willing to relocate to Scottish Highlands. The fund is intended to be given to people who are willing to build homes in the Scottish Highlands and live there, because the government recognised the danger of people relocating to larger cities and other countries.
Each person will be given £175,000 in order to build a house in the Scottish Highlands. While this may sound tempting, it is also difficult to imagine life in a place where you cannot find a job and where people are moving from, rather than to. Still, the Government’s initiative is to be applauded.