Arriving early at the bar to meet my old college mate for drink, I interrupt his mobile conversation with one of the high street banks. Using the subtle tack of aggressive shouting, he’s complaining about a £25 charge on his account for being £5 overdrawn. His attempt seems to be faltering and he quickly shifts to the desperate “is this really fair approach”, but to no avail. The bank is committed to their sundries profit scandal.

It becomes clear that he forgot about his student loan payments, which he could have deferred. So why didn’t he? Worry, fear and most certainly over-hype from the press. Constant reminders are fed to us about the mountain of debt, which apparently now totals 1 Trillion pounds. Our on-credit plasma TVs are also now maxed-up to the limit with reality programs about people addicted to spending, and documentaries about fly-by-night companies loan-sharking the poor. However, where are the documentaries talking about the positives of a stable booming economy, which has enabled cost effective lending for all? Analysts, IFAs (Independent Financial Advisers) and bank managers alike will insist the best approach is to save and then buy, but at the end of the day they’ll all sell you a credit-card “just in-case sir, just in case”. Following the trend, my friends and I are all ladened with debt, but we are workers and in most cases sensible with our money. Our debts are attributed to the lack of government investment in universities and a thriving housing market.

Why shouldn’t we take out a credit-card or a secured loan? Lifestyle is extremely demanding and dynamic in the 21st century and there are many things we can not plan for. Having the ability to fly off to Barcelona to see a property investment opportunity, meet for drinks with old school mates, or take out a new found love can be expensive but are necessary for a fulfilled and profitable life; as long as you can plan how and when you can pay the money back. Many of the secured loans providers are often attacked for their interest rates, but in reality they are providing a helpful service to those who need flexibility to make life easier in the long run. Take for example the homeowner who’s purchased a house; they’ve lived for 1 year in a dated and in-need of decoration flat, but are still suffering from the legal and estate agent fees that drained all their savings. Yes they should be content that it’s their home, but no matter how many times you say “this is mine”, it still doesn’t turn that paisley textured dog-eared wall paper into the latest glossy pantone. Again I hear you cry “so what, live with it and save”. Well what about motivation? We all need to feel good about ourselves, which in-turn means we’re more productive at work and should hopefully be paid an increasing amount of remuneration. I say lets give the credit-card companies and secured loans providers a break and think about enterprise, motivation and happiness as the components to a successful society.

If you want advice on debt management, please go UK Debt management Websites, or if you are interested in taking out a secured loan, try secured loan from Better Lending, who search hundreds of loans to find the one that best suits your situation.