Shale oil financial plans overlook pollution

Financial plans include direct and indirect factors to keep things on track.

12:16 07 June 2013

A debate has arisen over the prospect of fracking for shale oil in the UK. Critics are concerned about the chance of causing tremors which could turn into earthquakes. In addition to that concern, is the pollution caused by fracking.

 

While obtaining supposedly better quantities of oil might seem like a worthwhile investment, it’s important to consider the risks and how it affects everything.

 

Pollution may cause a drain on the health of the citizens, which could inflate costs for the universal health care, putting the government’s financial plans to reduce social funding costs perhaps into a tailspin.

 

Here are a few ways to make sure your own financial plans don’t encounter a similar fate. 

 

• Expenses-each month review your expenses in case you have recently added one or paid something off. This will ensure that you don’t forget to pay bills, and that you keep an accurate idea of how much you spend each month so you can keep your financial plans on track. 

 

• Savings-as soon as you can, establish some sort of a savings account whether it is an Independent Savings Account or just a regular savings account. If you plan to save a lot during the course of a year, it’s beneficial to establish both an Independent Savings Account for a better interest rate and a regular savings account in case you want to save more than the annual limit for the ISAs. The type of ISA you choose will usually depend on your financial plans and ultimate savings goals.

 

• Impulsivity-avoid making decisions immediately without concern for your financial plans, or the results of the decisions. Like the situation with the shale oil, something which may at first sound beneficial, could end up costing more money. 

 

• Technology-you can put a variety of technologies to use to help you with your financial plans. Multiple different software programmes exist, as well as new apps which can help you manage your budget and can alert you if something unexpected occurs.