Pass on your top money tip to youngsters

RAS

caeler wrote: »

*Always pay your Council Tax - getting into Council Tax arrears is not an option, the county will slap you with CCJs very quickly and it will ruin your life.

Even worse...

If u do not pay your Council Tax, they send bailiffs to take your xbox and everything.

RAS

"Joint and several liability" means U owe the whole debt, not just half the rent, Council Tax or loan.

If u sign a rent agreement for a whole year, u have to pay rent for the whole year, even if u move out.

For Council Tax, bailiffs cannot come into ur house unless u let them. Lock the doors and windows.

Put money aside every month for Christmas, birthdays, car tax, insurance, car maintenance and holidays. This is not saving, it is budgetting.

For buses and trains, buy a season ticket if you can, cos it is cheaper.

thorsoak

Whilst you are still living under your parents' roof - save like mad! You'll never live as cheaply again!

busiscoming2

Don't be an Ostrich! If you get into financial difficulties, don't ignore it, if you can't keep up repayments speak to the company and admit to it. They are more likely to help someone who is helping themselves and you won't accrue additional 'non payment' charges.

Keep a record of all incomings and outgoings (use an exercise book). This works especially well if you have a joint account, so you both know how much is available.

susiesunshine

When buying new clothes, check the labels to see if they are washable. Dry cleaning costs a fortune. My husband even buys washable suits and they look really good.:A

samanthalewis

Here are some savings tips which will surely work out:

->Create a budget and stick to it.
->Keep a detailed record of what you earn, spend and save each week or month. Aim to increase savings, reduce debt and build some savings. Be honest, precise and detailed.
->Avoid late fees - pay your bills on time! Paying late fees is like throwing money away, seriously.
->Stick with your own bank’s ATM when withdrawing or checking balances, to avoid being charged a totally unnecessary fee. By Valuespotters...:)

Respect_Yourself_company_representative

Thanks to everyone who's replied! You've done a great job, and we'll be able to use a lot of these messages to help young people

Please keep the messages coming - the more we have, the more young people can learn from your experience. There's some great money ones here (thanks to all those who did lots of messages per post!), and just as important are the other "life" tips.

Thanks also for the range - Council Tax, dentists, credit cards, saving for Christmas...all great words!

Battybird

Do not be tempted to take out Payday loans.

You may find that you are quickly up to your neck in debt.

tealady

If you really want something then save up for it. By the time you have saved the money you will know how much you really want it.
Ask any adult and most will tell you about impulse buys they have bought and later regretted buying.
Understand APR's, they can tell you a lot

thebillet

Do you realise that if you get a loan you aren't borrowing from a bank or building society you are really only borrowing your own future income/cash/wages/savings. You are borrowing from your future self...and paying someone else for the privilege!