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

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
79 replies 16.6K views


  • QueenB.QueenB. Forumite
    1.1K posts
    To face the truth and share it so that the burden is halfed and you have someone to support you throughout what will be a long and difficult time.

    Then budget.

    Also to remember that life is precious and that although things have to be put into a relative perspective we are still very blessed.
    Success means having to worry about every thing in the world......EXCEPT MONEY. Johnny Cash

    Cross stitch Cafe member 81.
  • Hi i deal with all my own debt and have helped others, it really is simple and i do not see why people are petrified to respond to letters, from companies demanding outstanding monies, by ignoring them it only gets worse and adds extra interest, some companies can be a bit arrogant, but always take there name and time of call etc, this makes them aware that you mean buisness, i have helped a lot of people out there, and do not charge extortionate fees like most companies do, all i ask is a donation and monthly admin payment to cover costs, and with out money saving expert nothing would be possible, all i say is be brave speak to some one do not ignore it it will not go away, trust me you will be glad you did ???????????????
  • lilac_ladylilac_lady Forumite
    4.5K posts
    1 - Try and save something - 20ps in a piggy bank gives you a sense of security that you'll never be absolutely broke.

    2 - Be the first in your circle to say "no, I can't afford it" - you'll be surprised how many will follow you and admit that they can't afford it either.

    3 - Follow all the tips here.
    " The greatest wealth is to live content with little."


  • TrikerTriker Forumite
    7.2K posts
    Part of the Furniture Combo Breaker Debt-free and Proud!
    Try to shop at your local market, meat and veg are considerable cheaper than the supermarkets.

    For those who like the sanitised supermarket shopping, remember, supermarkets are a relatively new phenomenom, years ago everyone went to the local shops or the market for food.

    Usually on a saturday and then you had to lug a weeks shopping back by bus.:rotfl:
    DFW Nerd 267. DEBT FREE 11.06.08
    Stick to It by R.B. Stanfield
    It matters not if you try and fail,
    And fail, and try again; But it matters much if you try and fail, And fail to try again.
  • 123xyz123xyz Forumite
    436 posts
    Part of the Furniture Combo Breaker
    Get rid of debt cheapest way possible (for me this is second charge I was forced to take out):

    1. Draw maximum amount from Egg Money to pay off part of debt.

    2. Immediately transfer debt from Egg to Sainsburys card at 0% for one year.

    3. Anything remaining after the year, transfer to M&S card at 3.9%.

    4. When this bit paid off, repeat steps 1 to 3, until whole debt paid, or being paid at low interest rate
    Just off the border of your waking mind, there lies another time ....
  • LJD1_2LJD1_2 Forumite
    2.2K posts
    If you're going to keep a credit card 'for emergencies' put it in an ice cream tub full of water in the freezer. That way you really will only use it for emergencies!
    January budget
    Nothing left!
  • cantcopecantcope Forumite
    1.8K posts
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    My tip would be to be honest with friends/family about how bad your debt is.

    I spent so much money doing things i couldnt really afford just because i didnt want to look like i was being tight/boring. Now friends understand if i say no, or maybe next time.
    Last bet : 26th Oct 2006:j Debt free 25th Feb 2008:j Living "my" dream:T
  • Get a copy of your credit report and find out before you do anything else exactly how much you actually owe!

    There's nothing worse than thinking it's all going well then getting a sudden surprise demand for a debt you forgot about. Knowing the exact amount, and the interest rates on each debt, will also help you to plan and budget realistically.
    "People who "do things" exceed my endurance,
    God for a man who solicits insurance..." - Dorothy Parker
  • Uniscots97Uniscots97 Forumite
    6.6K posts
    1,000 Posts Combo Breaker
    Don't be sucked in by all the fancy claims of the expensive cleaning products. All you need is stardrops and a microfibe cloth!
    CC2 = £8687.86 ([STRIKE]£10000[/STRIKE] )CC1 = £0 ([STRIKE]£9983[/STRIKE] ); Reusing shopping bags savings =£5.80 vs spent £1.05.Wine is like opera. You can enjoy it even if you don't understand it and too much can give you a headache the next day J
  • David_B_2David_B_2 Forumite
    718 posts
    As requested my SINGLE tip would be:- Live within your own means!

    ie. don't buy what you don't need or can't afford.

    If only I had a pound for every time I used the thanks button :D
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