If your idea of using the internet to save you money means socialising in a chat-room rather than in the pub, or the occasional search for vouchers, you’ll be surprised to hear just how much money-saving potential there is in cyberspace. Not only that, if used to its full potential, the internet can be just as good at making you money as it is at saving you money. Of course, there is no denying that the internet is particularly good at encouraging you to spend money too. So, with the help of the debt specialists at Debtsolver, you can take control of your online spending and begin getting the best return on your digital spend.

Firstly, there is no shortage of companies willing to offer incentives like vouchers and reductions for your participation in online surveys. Don’t buy things that you don’t need because they seem like a good deal though. Unnecessary spending is still just as unnecessary when you’re getting a deal. However, if it’s a product that you’d buy anyway, saving a few pounds here and there can soon add up.

Here are five survey sites that give you a financial reward for participation.

• Test and Vote – Test products and be awarded points that can be redeemed for vouchers.
• Synovate – Complete surveys for entry into prize draws and points redeemable for cash.
• Lightspeed UK – Various surveys that are rewarded with points and prize draw entries.
• The Great UK Survey – A 5 minute survey is rewarded with a £5000 competition entry.
• Valued Opinions – Build up real cash for your opinions, redeemable when you reach £10.

If you’ve got the time to scour the internet for potential bargains and take part in surveys that promise vouchers and rewards for participation, it’s easy to forget that the web offers far more tangible money making opportunities. Although being a serious savings hunter can seem like a full-time job, it isn’t. When it comes to real-life, actual job seeking, the net can be a valuable resource.

The major source of debt problems is not irresponsible spending but an unforeseen change in financial circumstances. Typically, this is losing your job. So, getting debt help, getting back on the job market and bargain hunting should be the first steps towards beating the debt burden for anyone out of employment.

Maintaining this focus on the digital world as a source of revenue, don’t forget to incorporate it into your real-life money making plans. If you’re looking around at all of those things you don’t really need and thinking about biting the bullet and doing a car boot sale, consider eBay and Amazon Marketplace too. They’re great places to offload your unwanted books, videos, CDs and lots of other things too.

So, there are lots of ways that the internet can help you to save money, or even make a bit more money, in order to lessen your debt burden. The first one though, should be to get specialist debt help from the advisors at Debtsolver.

Your debt-to-income ratio is basically an expression of the relationship between how much you owe and how much you earn. Lenders will use your debt-to-income ratio, alongside your overall credit rating, to evaluate your financial situation and decide if you qualify for credit. The ratio is determined by dividing all of your monthly debt repayments by your income. Generally speaking, the lower the ratio, the better your financial situation and the greater chance of securing credit.

If you have a clear understanding of your debt-to-income ratio, it’ll help you take stock of your financial situation, which will help you decide whether or not you should be considering further credit or debt help. If your debt-to-income ratio is high, you should definitely be taking significant steps to solve your mounting debt problem. Essentially, calculating your ratio leaves you in little doubt as to your financial situation. There is no denying the debt anymore and the sooner you face up to your debt, the greater the likelihood of finding a suitable debt solution for someone in your circumstances.

As much as calculating you debt-to-income ratio can serve as a wakeup call to the severity of your mounting debt, it can also be a great way to stay motivated and keep you on the right track. If you keep doing the calculations as you stick to a programme of debt repayment or successfully follow through with a debt solution, you can track your progress and keep your morale up.

Debtsolver, the UK debt solution specialist and financial first-aider, have complied these easy to follow steps that will help you to calculate your debt-to-income ratio.

Firstly, add up all of your monthly debt obligations. That means all of them; this is no time for self delusion.  Be sure to include all of your credit card debt; every loan, the unsecured and secured; your monthly mortgage repayments and your overdraft. If you rent rather than own, you should incorporate your rent in the same way as you would a mortgage at this stage. Basically, you want to find your bottom line debt commitment.

Now that you have your definitive monthly debt obligation worked out, divide it by your monthly income to work out your debt-to-income ratio. Debtsolver recommend using your net income rather than your gross income as everyone has to pay tax on their gross income. If you use your gross income, your debt-to-income ratio will appear more healthy than it actually is.

In the same way as your credit rating will impact on your ability to secure credit and influence the rates of interest that you’re offered, the higher your debt-to-income ratio, the less likely you are to be approved for credit and the higher interest rates you’re likely to be charged. You could also find that you’re asked to make a far bigger down payment in order to secure a mortgage.

If you are looking to tackle a debilitating debt burden, Debtsolver will be able to take you through the various debt solutions on the market in the UK and help you to decide on the one that best suits your circumstances. You will then be on the road to freedom from debt and will be able to chart your progress by calculating your debt-to-income ratio.

Snowballing your debt is a great way to pay it off. Essentially, it means paying the minimum on all of your outstanding debts but one and throwing everything you have left at it. In this way, you pay it off fast, move on to the next one and do the same to that. It’s up to you whether you decide to target the smallest debts first, as clearing them will be quicker, or whether you go for the biggest debt first, as this will be charging you the most interest. Whichever way you decide to do go about it, as you pay off each debt, you’ll have more money to pay off the next debt as the previous one is cleared. So, the process will gather momentum, or snowball, towards freedom from debt.

If you’re looking to speed the process up, put any extra money that comes your way into the repayments. Want to free up a bit of extra money? Follow these ten top tips from Debtsolver and you’ll be making big savings and bigger repayments in no time.

1. First things first, shop around. Look for the cheaper option and just get into the habit of making price comparisons for everything you buy.

2. Do you have Sky or Cable TV? How many Channels do you have? Now, how many do you actually watch? You get the point.

3. We all want our children to take advantage of every opportunity but these things can soon mount up. So, try setting a budget for extra-curricular activities and prompt them to be more discerning.

4. In the better weather, take advantage and hang your washing out to dry instead of using your dryer.

5. Likewise, if you have a dishwasher, only put it on when it’s full. If it’s just the odd cup then go all retro and wash it in the kitchen sink.

6. You can still treat yourself and the family to nice things like meals out but you should always look for areas to save some money. Drinking water and waiting until you get home to have desert are a couple of easy ways to save a few pounds.

7. Remember, you don’t actually need to buy the most expensive pet food to keep them well nourished. If you are a slave to the branding, follow point 1 and shop around for deals and offers.

8. Buying in bulk can be a cheaper option, if you actually need the things you’re buying. If you can break up the sets into individual items, as with cases of wine, they can be make great presents.

9. Sharing lifts to work or on the school run can save you money on fuel and cut carbon emissions. Take turns with the driving duties and everyone can make a saving.

10. If you’re worried about your debt, there are free tools online that can help you to build a budget and manage your finances. For a free financial health check, visit www.debtsolver.co.uk.

The Office of Fair Trading (OFT) has come out with a recommendation that Banks should begin to offer current accounts that give their customers the option to opt out of an overdraft facility, rather than having one as standard. It considers this to be an important factor in many individual’s slide into debt. Rather than viewing this facility as an emergency resource to help them manage their direct debits and other outgoings, many enter the red with the best of intentions but fail to bounce back out again. In fact, 1 in every 10 people in the UK is permanently overdrawn and accruing the extra bank charges that go with it. A further 12% depend on their overdraft facility at least 5 times in the year and half of us need to use it at least once. So, there is no denying that it can be a valuable resource but it can also be a costly contributor to your debt problem.

The OFT are also keen to see a reassessment of the fees and bank charges that consumers face for their unarranged overdraft. These charges are gradually coming down though. For example, a bounced payment, when you don’t have the funds in your account to cover an expense, used to cost a further £34 on average, now it’s down to about £17. However, some have accused the OFT of taking too soft a stance on bank charges and not doing enough to safeguard consumer interest.

In response to these claims, the OFT reiterated their view that continued monitoring of personal current accounts is effecting significant change in bank’s practice and in the market as a whole. The industry is suffering from rock-bottom consumer confidence in the wake of the recession and is therefore committed to change.

The Office of Fair Trading have outlined a clear goal; a current account market where banks make the necessary information available to customers at the right time. Therefore, making it easier for people to control their finances. Solving the problem of mounting debt hinges on getting your personal finances under control. It highlights how important it is for the individual account holder to use this information to manage their account carefully and even take it to another bank if there’s a better deal to be had. A debt management plan can help you to take control of your finances. Drawing up a detailed budget can help you to recognise the areas where you can cut back too. It’s a good idea to talk to a debt management specialist who has the experience to guide you through the process.

With the 2010 Budget heralding a hike in fuel prices, filling up your tank can quickly empty your pockets. To help those facing the problem of mounting debt, Debtsolver have compiled this list of tips to help you reduce your fuel consumption, spending less time and money at the pump.

1. Over half of the power that your engine produces goes to beating aerodynamic drag. With this in mind, the faster you drive, the more aerodynamic resistance you encounter and the more fuel you burn to compensate. So, staying under the speed limit can save you fuel and save you from getting speeding tickets.
2. Tyre pressure has a big effect on your car’s fuel consumption. If your tyres are a bit flat, not only will you wear them out faster but you’ll also increase the rolling resistance. Properly inflated tyres will lower the resistance and decrease your engines power usage, saving you fuel. You’ve got to be careful not to over-inflate though. As deflated tyres have a greater surface area on the road, increasing the resistance, over-inflated tyres have too little surface area on the road and this can dangerously lower your level of grip. Check them regularly and keep them within the manufacturers parameters.
3. Research has shown that the average engine will run most efficiently somewhere between 1,500 and 2,500 rpm. Keeping the revs low, by changing gear before your engine hits 2,500 rpm, will burn less fuel and save you money. If your car is an automatic, avoid stamping down on the accelerator to change down a gear.
4. Carrying around extra weight significantly increases your fuel consumption. The rough figure is thought to be an increase of 2% for a 50kg load increase. Think of all of that extra weight that you’re carrying around in the boot because you don’t know where else to put the stuff. It’s costing you money so have a clear out.
5. Pulling away from a stationary position uses a lot more fuel than from a rolling start. If you try to smooth out your driving, anticipate what’s to come and adjust your driving accordingly, you’ll burn less fuel and save more money. Don’t follow the car in front too closely and you’ll have more time to make these gradual adjustments to your speed that let you avoid unnecessary breaking or acceleration.
6. Although there is an argument for most fuel being used when you start your engine, if you allow your engine to idle for more than a minute, you’re actually using more fuel that you would if you’d just switched it off and re-started. There’s an environmental argument too, so rather than sit with your engine running, burning petrol unnecessarily, just turn it off.

Admittedly, these changes alone will not be enough to solve a substantial debt problem but better money management is crucial to freeing yourself from the burden of bad debt. Cutting back on your spending can take many forms and you’ll find that it is as much about your mindset as it is about those individual changes. Talking to a debt management specialist at Debtsolver is a great place to start.