The UK has just come out of one its most damaging downturns in decades, this was a global event which didn’t necessarily hit the UK any harder than any other nation, though that will be of little comfort to the millions left jobless or struggling to find work as a result of the fallout. Throughout the UK tens of thousands of small high street businesses have had to close down due to crippling costs and stifled turnover as a result of consumers tightening up their purse strings. Larger companies had no choice but to streamline their workforce, putting skilled, experience workers out of a job. This in turn has hit young job seekers, particularly graduates who are being denied the opportunity of entry level positions as workers made redundant snap them up.

As we can see, whether we realize it or not, the recession has had a real impact on all of our lives, forcing us to make cut backs and forgo luxuries we once took for granted. It is going to take years to drag the UK back to where it was pre-recession in 2007, the government is currently in the process of making billions of spending cuts, mainly public services. There is no doubt that every one of these cuts will face fierce opposition, but we as the public must understand that this is necessary and comes to terms with it, an online trading account may help in this situation

Just because the recession is technically over, we cannot rest on our laurels and begin spending with gay abandon, jobs may still be under threat, especially in the public sector. This is illustrated by Cameron’s decision to freeze public sector pay. We must also be aware that interest rates are very low meaning we will need to be savvy with our savings, letting them stagnate will not give you a good rate of return. Of course this means borrowing is cheaper but it would be wise to abstain from loans considering the instability of the climate.

In the current post-recession blow out, it pays to be a savvy financier, tactics such as forex trading which involves the buying and selling of currencies depending on market conditions or share dealing are time consuming but if done right, will give you rewarding returns on investment. The main take away message is that we are not out of the water yet, remain thrifty and keep a close eye on your funds, the devastation of a double dip may still be just around the corner¦

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