Government believes fracking will bring financial stability

Critics of fracking don’t believe all the necessary factors are being considered.

04:17 15 August 2013

The government is pushing for public acceptance of the newest method for obtaining oil from shale, called fracking, amidst public outcry at the potential environmental and health concerns. The Prime Minister is declaring the financial benefits to be important for the economic stability of the UK. For most of us who desire financial stability, there are a few things we need to consider:

 

• Monthly expenses—this is the most obvious part of the financial equation. Without a clear picture of how much is actually spent each month, there would be no way to accurately budget. Even though this is an obvious part, it’s easy for small purchases or unexpected bills to crop up at a bad time, or to slip through unnoticed. Being mindful of these and keeping a close eye on expenses can help with financial stability.

 

• Investments—even if your budget allows you enough money to pay the bills and a little bit extra left over, there are other expenses that can quickly change the situation, so investing a little bit extra to receive growth from the money is a necessity for long-term financial stability.

 

• Effects—one of the most important things to consider is the effects that our decisions have, both immediately as well as long-term. Taking another position at a different company may seem like a good opportunity at first, but you may find out that increased petrol expenses, fewer benefits, or other factors make it less desirable than expected. It’s also important to weigh the potential for future change or improvements.

 

• Professionals—not everyone is good at budgeting so you may want to ask a friend or relative, or it might be best to leave your hope for financial stability in the hands of a qualified professional. You can seek advice from trustworthy sources to ensure that you meet your goals.