Top 5 Pieces of Debt Advice to Help You Avoid Financial Problems
Whether you’ve already experienced horrendous debt problems and want to know how to avoid it happening again or you’re worried about all the press coverage of debt and how it could affect you in the future, there is lots of debt advice available that can put a stop to debt before it even starts.
It’s important to note that you’ll need to be disciplined and realistic about your financial choices now if you want to avoid debt and all that comes with it in the future.
In no particular order, here are our top 5 pieces of general debt advice that look at the cause of financial misery rather than dealing with it after the event:
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Cash – The easy availability of credit is partly to blame for the sharp rise in debt levels in the UK today. If you have any credit cards, cut them up and try to use cash to pay for good whenever you go shopping. Handing over physical money will help you appreciate the value of things better than paying with a piece of plastic.
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Credit cards – Once you’ve cut up your cards, tighten your belt elsewhere so that you can make your monthly repayments on time. Paying off what you can afford rather than the minimum monthly amount will help to reduce interest and keep penalty charges at bay too.
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Be savvy with your money – We’ve all been taken in by offers and promotions whilst out shopping but what appears a good deal on the High Street may still be considerably less expensive online. The internet has a mind-boggling wealth of online shops and countless comparison sites that help you find the best deal. From CDs and books to furniture and clothing, many web based shops don’t have the overheads of physical stores so can pass on the savings to you as the consumer.
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Don’t just live for today – A buy now, worry about it later attitude is a recipe for debt disaster. If you want to avoid seeking debt advice on things like IVAs and bankruptcy in the future then you need to carefully consider where the money’s going to come from to pay for your purchases. It may seem boring in the present day to be careful with your money but when you’re facing bankruptcy, losing your home and maybe even your job in years to come, you’ll realise it’s good debt avoidance advice.
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Budget – Many people in the UK today have no grasp of how much they’re spending on credit cards etc until it’s all added up and shocks them into seeking debt advice for a workable solution. Even doing a one-off budget detailing all of your income and expenses can throw up some surprises both in terms of what you’re spending and where you could be saving money.
Heeding some basic debt advice now could have a significant impact on your future finances. Being in debt can be a terrible experience that impacts on all areas of your life and could take many years to resolve.
If you would like more information,
ring Debtsolver now on 08000 434 336 (Free for UK residents only) or complete our
debt wizard to see if you qualify
