WE all know that Swindon is a relatively prosperous town with low unemployment figures.

But today's announcement that salaries here are considerably higher than the national average, and that in the south west we are second only to South Gloucestershire in the earnings table, is not a cause for runaway excitement.

It is certainly not a justification for a wild spending spree. This is also a town where living costs are high and rising, a situation which is not likely to change.

With house prices still escalating and council tax now at almost twice the level of six years ago, it is time for prudence. We must not kid ourselves that the negative equity horrors of the 1980s will never return.

Temptations to overstretch ourselves in pursuit of the good life are many. Borrowing is almost too easy and young people in particular need a quiet reminder that it pays to be cautious, even when times are apparently rosy.

We should also never forget that those who are not at the upper end of the earnings scale are feeling financial pain.

So though there is no need to depress ourselves with nightmares about a rainy day, it is wise to know where the umbrella is.