Dealing with Debt

Are you turning a blind eye to your debt problems? Try these simple tips

Many of you can relate to the stress and pressure of today's modern living. Demanding jobs, long hours spent at home looking after the children, household chores, money worries, it's no wonder you feel the need for a special treat to reward yourself from time to time. If you experience uneasiness when you open the post and check out your bank or credit card statement you need to ask yourself just how much are you really spending?

Read on to see how you can climb out of debt successfully and still retain the feel good factors in life.

Impulsive buys for pleasure

Do you find yourself strolling around shops or surfing the web in your free time for those must have items, just to give yourself a buzz, a quick fix? Of course everyone needs these things periodically, but the key factor is not to buy every single weekend. You need to budget and prioritise what's really needed and keep that clearly in mind, then just shop for that one item. Window shopping can be fun, time spent browsing around without unnecessary expenditure.

Sales bargains bye one get one free gimmicks are they really what they seem?

These offers are clever marketing ploys to benefit only the retailer, consider parting with your hard earned cash only if you really need it or will use it. Remember before you go shopping make a list and keep to it, a bargain is only a bargain if it's on your list.

Regain control of your life and your pocket

Research your product, find out where you can purchase it cheaper, use comparison sites, but check out the delivery prices. Haggle for you discounts if buying from tradesmen, mobile phone contracts white goods and furniture etc. Consideration must be taken when you purchase a loan or credit card find the best credit card deals around or you could find yourself paying higher fees and more interest.

Are you spending more than what you earn

Do you regularly shop outside your income zone? Do you prefer the top end of the supermarket chain and the call of designer labels? If so you need a reality check, pretending to live a lifestyle that is beyond your means will take you further into debt. A far better way is to see what you can afford and how you are coping. You can see your free Experian credit report as often as you like with a free trial of CreditExpert. This will let you instantly see the lists finance you have taken out such as credit cards, loans and mortgages along with repayment methods. This way you regain control of your finances.

A weekly treat to cheer yourself up

We all deserve a treat but if you find that the local take away is on speed dial on your phone you could be heading for trouble. Instead think of alternative ways to cheer yourself up, do not get into a weekly habit of spending to reward yourself. A scented hot bath, a home cooked meal or simply a walk in the park can all create the feel good treat factor and save you money.

Too much socialising can causes a big whole in your pocket

This is a common problem, it's not easy to keep tabs on how much you spend when buying rounds of drinks or splitting a restaurant bills especially when you take out a credit card instead of an allotted amount of hard cash. Sometimes the best things in life are free so why not invite your friends over, get them to bring a bottle, watch a movie, play games, and listen to music. Experience the togetherness without the emptiness in your pockets.

Advance tips for Supermarket shopping

Make time for a proper weekly supermarket shop, it is a big mistake to shop daily as you will end up spending more money. Plan your menus in advance, make a list and keep to it, stay focused. Never shop when you are hungry as you will spend more on snacks.

Do you spend money without even realising it?

You can easily fritter away money on morning papers, coffees, lunches, and magazines during the day at work. Instead she how you can be more proactive by taking in a packed lunch, buying a jar of coffee and looking up the papers or magazines on the Internet, for free. Try not to use your mobile phone for long chats instead use your land line and call when you have cheap call time or send emails instead.

Are you overcommitted with borrowing?

Pay your credit card bills on time to avoid paying a lot of interest and charges on late payments, this will not only make you a bad payer it will also affect your credit history causing lenders to charge higher interest rates in the future. At the first sign of trouble talk to your lenders to work out a short term repayment plan. Pay off your debts as soon as possible and try to avoid having numerous store cards.

Prioritise your most important expenditures

Pay your household bills including rent, council tax and mortgages on direct debit and check comparison sites for deals on utility bills. Make sure these are paid off first before you spend for fun on holidays and socialising.

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