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

QueenB. · 14 March 2007 at 9:59AM

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.

LAXTONSTARLING · 14 March 2007 at 10:07AM

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_lady · 14 March 2007 at 10:10AM

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.

Triker · 14 March 2007 at 10:23AM

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:

123xyz · 14 March 2007 at 10:26AM

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

LJD1_2 · 14 March 2007 at 10:41AM

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!

cantcope · 14 March 2007 at 10:44AM

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.

lady_fuschia · 14 March 2007 at 10:48AM

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.

Uniscots97 · 14 March 2007 at 11:15AM

Don't be sucked in by all the fancy claims of the expensive cleaning products. All you need is stardrops and a microfibe cloth!

David_B_2 · 14 March 2007 at 11:20AM

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.

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

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