A Gaping Difference Between US and UK Money Advice


While researching different types of interest rates, I came across a UK financial advice site. Among the tips:

TIP: Open up a savings account for safe, and sometimes, shorter-term, savings.

TIP: Make sure you pay off all your debt before you start saving!

TIP: Make sure you budget and work out how much you can afford to save.

US readers: Have you ever, in your entire life, read a tip like that on a domestic financial advice site? I was shocked reading the boldfaced sentence above. How can paying off all your debt before saving anything possibly benefit you? Does it have something to do with a bigger social safety net? Or stricter lending laws? I’m perplexed.

Written by Drea Knufken

Drea Knufken

Currently, I create and execute content- and PR strategies for clients, including thought leadership and messaging. I also ghostwrite and produce press releases, white papers, case studies and other collateral.