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Those born in the 1970s and early 1980s, the so-called ‘Generation X’, are finding it harder and harder to make a living, say insolvency experts Bell & Company. The Belfast-based company has found that the average Irish person is now bringing home less money than they used to, and may well be in negative equity.
“For Generation X, the recession came at the same age as their parents were reaching their financial peak,” said Terry Bell, Principal Director of Bell & Company. “They were trying to move onto the next stage of their lives and instead plenty of them have found themselves struggling to stay afloat, unable to save for a rainy day.”
The rainy days are unfortunately coming more often these days. With stagnant wages, and soaring childhood costs, as well as the high cost of living, people are turning to credit cards and payday loans which come with a prohibitively high amount of interest.
Bell & Company are a firm specialising in solving property debt. They have helped plenty of people across Ireland and the UK who needed assistance when the property bubble burst. Now that Generation X is finding it harder to manage, they might need advice on what to do when they find themselves in negative equity.
“We know it can be disappointing to realise that there are few financial options open to you,” added Terry Bell. “It’s part of why Bell & Company was created—to help people who feel trapped in debt and to help them out of it.”
Bell & Company provide solutions that can be tailored for both businesses and individuals. Contact Bell & Company to see how they can help you.