Post-Christmas debt affects many people in the UK. Balancing the household income along with the January blues can take its toll on many of us. Keeping on top of debt can keep us awake at night, causing untold financial problems, let alone the emotional flip side to this tarnished coin. There are solutions out there to help manage day to day money worries so getting practical advice and tips can help you take that control back.
- Knowing what your debts are is a good start, make sure that you have opened all of your post and spend some time sifting through what money you owe. Being disciplined will bring a sense of control back to any situation.
- Create a plan that allows you to keep track of where your money goes every month, be vigorous, and keep receipts for everything. After a month of watching where your money goes it will be possible to see where you can cut back. Those morning take away coffees add up! Simply begin by reducing your spending on the unnecessary items or treats in your life. However painful this will seem, the desired outcome will look far rosier.
- The citizen advice bureau and other charities are there to help, plan a debt-free future by implementing a plan to pay off your creditors. They will help you to create a budget and work out who to pay first and what the next step is if you cannot afford to pay your bills.