Is getting into debt a result of the ‘credit culture’ in the UK?

The Financial Crisis has had a massive effect on the mindset of the UK consumers. It has left them with a deep sense of peril whenever they buy something on credit. However, what most people do not ask themselves is if that sense of peril is not too small. In this article, we will look at the question whether the British credit culture isn’t keeping many UK households in a debt trap.arts and culture

What is a credit culture?

A credit culture can be defined as the way people act and behave in financial matters. In other words, whether they like to shop with their debit or credit cards; whether they prefer buying things with money they don’t have; whether they take too many risks in financial matters. The credit culture should be considered, as we will see in a bit, as one of the main causes for the debt problems of the UK households.

Why is the UK credit culture a factor?

As we just said, people in the UK behave according to their credit culture in financial matters. Most of the UK citizens have bought their houses, cars, household repairs and modifications, and many more things on credit. It is in their nature to shop with money they do not have, which leads to them going into serious financial difficulties.

The aforementioned becomes a problem when the seemingly stable job market becomes volatile. All of the borrowers then risk losing their jobs or getting their salary cut, which immediately makes them unable to pay for their past purchases.

The overspending that occurs in the UK is a result of how people have been thought to act when it comes to purchasing. They have been taught that buying on credit is absolutely risk free, which as we have seen in the past several years is absolutely wrong. Jobs are not as stable as before to sustain a massive financial deficit.

All in all, the credit culture should change if the British households wish to get out of the financial trap they have fallen into. Buying on credit is something that is no longer as risk free as it used to be!

If you need to borrow credit, you may sometimes come into difficulty when you are trying to obtain your finance if you have a ‘bad credit score’. This is basically when lenders use your past experiences of borrowing as gauge of how reliable you are at paying back the money you owe. Whilst many you’ll find it will be almost impossible for you to get a high street loan if you are in this scenario, you will find that specially designed loans for bad credit could be the solution to your borrowing problems.

What are the best annual arts and culture events in the UK?

UK is the home to one of the most thriving arts and culture scenes in the world. Looking at the vast array of cultural institutions and the richness of its multi-cultural society, it has good packages to celebrate. For example, it has festivals that celebrate architecture, design, dining and music, as well as key art exhibition and fairs.


There are celebrations of different cultures in UK. It promises to be a bonanza of culinary, musical and artistic treats from the subcontinent and beyond. The festivals promise a family friendly environment in different environs in UK. The festivals consist of many outdoor dance, arts, sports, activities for children, fashion and food for visitors to enjoy.arts and culture

Actually,there are many restaurants in UK that thrive to attract the top chiefs from all over the world and belie the stodgy reputation of UK foods. These restaurant festival aims at highlighting the best creative talents for both new up chefs and international names who are on the move for global acclaim. The festivals enable patrons to enjoy discounted meals at a wide range of top tables in UK.


Every year’s art exhibition represents a retrospective work of great artists. It brings the forefathers of European modernism and highly influential figures in the development abstractions. The festival brings together the modern painting, watercolours and drawing from collections from all over the world.

When you are looking for art festivals in UK you can not go without attending frieze art fair in regent park, London. It gives the blockbuster of art shows from over 180 most prestigious and existing contemporary arts in the world. Visitors are able to buy different works of leading artists in the world, and at the same time discovering the current trends in contemporary art.

Generally, UK arts and culture festivals creates the finest packages to celebrate in Europe and other parts of the world.If you are interested, do not wait to book for your packed and enjoy the events.