What's the single best tip you can give for all those in debt ?




    Plan your budget,
    Spend to your buget,
    Review and refine your budget.

    It's all about control.

    Also, longer term financial goals help. If you don't know where you're going any road will take you there.

  • hilstep2000
    hilstep2000 Posts: 3,089 Forumite
    Yes, I agree, BUDGET and stick to it.

    Also, when you want to buy anything, say "Do I want it?, Do I need it?, Can I afford it?" Most of the time the answer is yes to the first, and no to he second and third!
    I Believe in saving money!!!:T
    A Bargain is only a bargain if you need it!

  • maralum
    maralum Posts: 361 Forumite
    Give yourself a big pat on the back - all the time! Debt repayment is a long, slow and sometimes painful process, so tell yourself how clever and responsible and plain old fab you are for doing it.

    Making it into a game of sorts is a great option. How much extra can I pay off this month? It gives you back a sense of control and seeing those numbers drop is a massive personal achievement to all DFW's. We are doing the right thing - taking the reins, owning our mistakes and correcting them. How many people can honestly say that?
  • With no restrictions on credit anyone can line the pockets of the money lenders with interest payments. Never ever borrow money in the first place. If you want to buy something that you do not have the money for, either go without or save up for it.
  • swizzle_2
    swizzle_2 Posts: 481 Forumite
    Meal planning- write a list of what meals your going to have each night-then a list of what you need to buy-take cash to supermarket- yes I have had to put stuff back- girll on til dosn`t care, or take a calculator and add it up as you go round!

    If you are just going to work or on school run, which I do on foot and by bus-don`t take any money- or only what you need. Children can not pester you for sweets and you can`t have any if you have no money in your pocket.

    I have a small purse which I keep change in for bus fares-so I can`t pop into town before work-unless it`s planned-to buy something I need. Plus even if \I don`t fancy the lunch I have taken to work-I have to eat it-as no money for anything else!!

    IT may sound silly or simple, but just only carrying the money I need, I reckon has saved me £25 a week, thats over £1000 a year, and cash to the supermarket who knows- atleast the same.

    So thats £2000 off debts, or mortgage or even the holiday you couldn`t afford
    April Grocery challange £175

    Spent week 1 £29.90
    week 2 £62.64, TOTAL £92.54
  • Aj_eye
    Aj_eye Posts: 80 Forumite
    Guard your credit like you would a young child..... You wouldn't intentionally put your child in harms way ... but we do that all the time with our credit.... streching ourselves beyond belief ...borrowing against 'projected earnings'....when you have a 9 to 5 ...

    Also its ok not to drive the latest reg car, don't try to keep up with the beckhams, the Rooneys, or the other celebs (who by the way are making more money from their investments to make what they spend seem like loose change)...

    Accept the fact that your friendly bank advisor trying to 'help' you sort out your finances with that loan is not your friend.... He just made x% comission from selling you that 'package'...

    The modern economy is run on credit, institutions are making a killing off the sweat, blood and tears of people like you and me....well enough is enough...!!!!

    For those of us in the shackles of debt, lets fight tooth and nail to get out of it ..... For those of you who have slain the beast......remember it only takes one signature to undo all your hard work. !!
    Living with the legacy of bad decisions....but Proud to be dealing with my debts !:j Official DFW Nerd No. 362
  • tesuhoha
    tesuhoha Posts: 17,971 Forumite
    First Anniversary Combo Breaker First Post Mortgage-free Glee!
    Accept that spending on the house is just as much about being a spendaholic as hitting the shops and buying loads of clothes, bags, shoes etc.
    The forest would be very silent if no birds sang except for the birds that sang the best

  • Kevicho
    Kevicho Posts: 3,216 Forumite
    Listen to the advice on here ;)
  • I found that by using points sites like mutual points and rpoints, I can get cashback for any internet purchases or by simply completing searches. Can be a bit of a pain sometimes, but it has paid for nice things when money is tight. eg. just had a quote on car insurance through confused.com, cheapest quote was sainsburys, if I go thro' mutual points I can get get 1800 points, roughly £10 worth of points. Also if you open a cahoot savings account thro' them at the mo, you get 1500 points, you dont have to contribute regularly to it.
  • Consolidate - Move the dearest debt first. E.g. a credit card costing 19.8% can be paid off with a loan costing 6%.
    also known as The Sausage King
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