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

Sa1sysoo

HairyHandofDartmoor wrote: »

Keep sight of your long term goal, whatever that may be.

I have a picture of my dream house in my cheque book and my purse, and every time I am about to buy something I don't need, the picture makes me change my mind!

I will get that dream house, and not spending is going to get it for me!

OMG!! This is a genius idea HHoD!! Currently saving up to move, inspite of my signature... And everything we can afford at the moment is just pants...

I'm gonna do this RIGHT NOW!!:j

Bambywamby

I have a picture of Colin Firth in my purse....does that mean I get him soon?

wiggly

whatever you do, if you consolidate your debts CHOP UP THE CARDS IMMEDIATELY

or you do what I did and 3 times use the cards to the max again :rolleyes:

newlywed

wiggly wrote: »

whatever you do, if you consolidate your debts CHOP UP THE CARDS IMMEDIATELY

or you do what I did and 3 times use the cards to the max again :rolleyes:

Why couldn't you have told me that 6 years ago? :rolleyes:

deliciosa

my single tip would be for dealing with debts - Ignore them and they take control over your life. Face them and they will go away.

azjh77

Don't worry ... and read Rob Parsons 'The Money Secret'...

clarab_3

Can only reiterate spending diaries.

Pay all your *must pay* bills on payday, then divide the remainder up for the rest of the month - withdraw your allowance weekly and when its gone, its gone!

buy basics in bulk.

life is full of cheap/free little luxuries - a good long bath with some nice music, a 99p facepack in front of the telly!

nomoneytoday

Ask yourself if you can buy it cheaper elsewhere

janey_uk

Pay as much as you can off your debts on they day you get paid, rather than waiting the month to "see what's left".

That way the debt comes before all the impulse buys and temptation to sod cooking and get another takeaway!

I started doing it and was suprised how much it changed my spending habits.

Jane_Doe_2

Don't forget income maximisation as well as minimising your outgoings -claim benefits & tax credit entitlements ASAP (but do tell them straight away if there is a change of circumstances to avoid any risk of overpayment etc). Get advice from CAB on rights.
Sell unwanted / uneccessary stuff, check out tax-breaks on income from lodgers if you can rent out a spare room.
Also check all live-in adult children are paying their fair whack if earning... and resolve to have that difficult conversation if not.
Overtime / negotiate pay rise / second job potential?

Be tough and creative, and think laterally for your own situation.