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



  • Joek_2
    Joek_2 Posts: 315 Forumite
    After today's experiences, I have another tip...

    Always, always have a very basic bank account as a backup to your main one.

    Barclays have now closed my one down (I'm awaiting paperwork from Citibank with my account details), and there are direct debits failing all over the place!

    That and the fact that on payday, my salary would have gone into the liquidated bank account and I'd have not been able to get a penny.

    Which is a very scary thought, as my DMP officially commences on the 1st April (irony?).

    Luckily, I suddenly remembered a long forgotten about Halifax savings account, which I can at least put the next pay packet into - where it's safe from prying fingers.

    I'm a firm believer in things working out eventually, but today could have been pretty damn scary!
    Chuffed to be member 11 on the DMP mutual support thread.

    Unanimously voted 'Quotation King' by members of the club. Woo-Hoo:D

    Lost my 2 star virginity to smilealot and teecee. And no other two could have been better!
  • always stick to a budget, allow yourself a tiny treat, dont spend whats not in you budget, review your soa monthly, reclaim your bank charges.... and you will become debt free soon, and never ever ever give up :D
  • oopalah
    oopalah Posts: 396 Forumite
    Tune in to Martin whenever & wherever he is talking.
    Sealed Pot challenge #59
    SPC5 total £473.60
  • I try and have one day each week where I dont spend any money at all.
  • Claim a customer charter refund every time the tube is delayed. this makes me feel a teeny bit better about the work to pay the debt cycle. by the time a year has passed i will probably hhave enough refunds vouchers to pay for a monthly travel card free

    For all us ladies who like to pay £30 a month for UV/acrylic nails superdrug have a UV type varnish for about £4 which looks just as good

    Live without your luxuries, which i used to take for granted, and you will soon see a difference.
  • When you go out for the day, take only as much money as you'll genuinely need with you.

    Stop saying things like "Keep the change" or refusing it when someone offers it. Instead, put it in a jar in the kitchen to put in the bank or towards a bill.

    Save all your bronze coins, 5p pieces etc - you'd be surprised how quickly they add up, & your bag will feel a lot lighter too. :)

    Only go to the cashpoint when you need to, rather than out of habit or because you're passing. And only use the ones where they don't charge for withdrawals - there's no point giving your money away!

    If you go out, don't feel tempted/pressured to buy rounds of drinks. Instead, openly say you can't afford it so you'll buy your own. You can also have people round instead of going out - if everyone brings a bottle of their favourite tipple, the money will go a lot further.

    When you do the Sunday dinner, carry the leftovers to work for lunch on Monday. Try to do the same with a couple of other meals during the week - you'll save loads, have better portions to eat & you'll also know the food was properly cooked to start with. :D

    Cut down on newspapers/magazines - I've lost of how many times I've bought them then never read them. Make do with the free ones or read the paper online - the only thing you'll be missing out on is the pictures.

    Check how much it costs you to travel to work, especially if you use public transport. There may be a more economical way to travel, e.g. using only buses instead of a bus & tube travelcard.

    At work, instead of buying drinks from a local shop or the drinks machine, buy a cheap bottle of squash from the supermarket & pour some of that into a bottle to carry to work. You can use the water from there to dilute it.

    That's my contribution. All learned through originally not doing a single one of those things, & falling flat on my face as a result. :embarasse :)
  • keith234
    keith234 Posts: 164 Forumite
    First Anniversary Combo Breaker
    the single best tip to get out of debt is...

    It's nice to be important but it's important to be nice!

    If u think my post has been helpful, push my 'thanks' button cheers :)
  • MoaningMyrtle
    MoaningMyrtle Posts: 1,968 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    Only buy what you need, not what you want.
    A minute at the till, a lifetime on the bill.

    Nothing tastes as good as being slim feels.

    one life, live it!
  • tiggat28
    tiggat28 Posts: 17 Forumite
    When I visit the shops and I see something I like and want to buy, I pick it up straight away, then analyse it and say to myself do I really need this or will it be sititng in the cupboard for weeks on end, I then obviously put it back!! So far it has worked for me, have not got bought anything for the sake of it and just to make me happy. I now buy when I desperately need it.
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