If you remember decimalisation in 1971, then you will also recall that on conversion, prices rose. Something that was priced at 3 old pence should have been converted to 1 new penny. Often the price was hiked to one and a half or even two new pence. Some people believe that this was one of the causes of high inflation in the 1970s.

Slowly and steadily over recent decades, sterling has become less important in the world. The Euro is becoming a leading currency despite forecasts that it would not last long. With Eastern European countries having joined the European Union, and some expectation that most of them will join the Euro when they can, Britain might follow. Babyboomers remember the inflationary conversion to decimal currency. They also fear that this will be repeated if and when Britain joins the Euro.

Money Problems If you or someone in your family is in debt the worst thing that you can do is nothing. If you are not sure what to do go to see one of the charitable organisations that give advice. For example you could try the Child Poverty Action Group, Citizens’ Advice Bureau, Age Concern or the National Debtline on 0808 808 4000 or
http://www.nationaldebtline.co.uk/ The latter will provide you with advice and the tools to handle debts yourself if you feel that you can. If you cannot pay your regular bills such as rent or mortgage payments tell them as soon as possible. See more financial related articles from the Lifestyle section homepage [0].