NHS will be short of thousands of GPS, owing to funding deficit

Taking on more loans will not solve financial shortfalls

07:49 18 July 2013

The Royal College of General Practitioners has declared that severe lack of funding for the National Health Service could result in a deficit in the number of GPs. Currently, the £30billion funding deficit has already caused a shortfall of a large number of GPs throughout England.

 

Having to contend with factors such as population ageing, budget for general practice will be short by £2.7billion, which translates to 7,500 lesser GPs by 2021. The chairman of RCGP, Clare Gerada admits that this could lead to “an unprecedented disintegration of the NHS, both in primary and secondary care”.

 

Experiencing financial shortfalls is no rarity. Actually, it could happen to anyone, even to the best of us. Sadly, many individuals throughout the world may be in the same condition – besieged by ballooning debts and living in a daily state of stress and anxiety because of this.

 

It would be right to take some time to assess your financial condition and determine what brought you to this situation – perhaps no savings, having multiple types of debts, yet not letting up on spending. Other reasons could be out of your control, such as losing your job, getting sick, or incurring medical expenses for yourself or family members.  Whatever the reasons, specific actions may help you get out of your current financial distress.

 

At first glance, it would seem like taking on more loans might do the trick. However, this is a band-aid solution that will perhaps get you nowhere but more financial woes. You can begin by looking at your budget and what expenses you can give up for now. 

 

Assess all your remaining assets (savings and checking account, retirement plan, other sources of income). You might have to dispose of your current car and opt for a cheaper or more economical one.

 

Prioritize your debts by paying secured debts first, and then dealing with your high-interest unsecured debts. If paying the bills becomes mightily impossible, you can contact your creditors and try to negotiate for a more practicable payment term on your loan.