UK Money News
25th January 2008
Consumers 'must look out for themselves' when recession looms
British consumers should look after their own interests this year in order to protect themselves from the economic downturn now widely anticipated, says David Kuo from Fool.co.uk.
Mr Kuo, who is a personal finance expert at the price comparison firm, insists that many people are likely to be facing trouble with money in months to come and that the prospect requires individuals to be selfish in their actions.
It is important for people to ensure that they have secured their personal finance situation as much as possible and entered into the most competitive money-related deals available, Mr Kuo suggests.
"The watchword here is 'be selfish' – let the government worry about recession and businesses and you have to look after yourself," he said.
"You need to make sure that your finances are in good shape," he added.
In related finance news, the Federal Reserve in the US cut the rate of interest dramatically this week, apparently in response to economic difficulties in the North American country.
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