How to Get Out of Debt UK

A Few Unique Ideas

I always have some silly ideas floating around in my head and I thought I might share a couple with you; again I know they can seem silly.

A day without spending money, or maybe a week!

Not that this will save you any money, although it may due to planning and not having to pick things up, could you go a day or even a week without buying anything?

You plan your food shopping, meal, lunches, etc, you get petrol for the week, and get yourself in a position where you do not need to stop at the shop to pick something up, buy lunch out, etc.

Again this takes some planning, but I have found out many people live this way and they find they don’t make costly last minute purchases for food and other items as it is all planned.

One idea I had many moons ago was not to exchange gifts over certain holidays.

As we all know, especially if you have a large family, birthdays and holidays and the gifts exchanged can get expensive. So once I thought don’t exchange gifts, make them something, spend the day with them, do their chores for them (younger siblings this works best for) and just not spend a fortune on gifts.

That idea did not go over too well to say the least. People see you as mean and tight and soon you would be falling out with your family.

I am sure there is a balance there somewhere, like the old picking names at Christmas to exchange gifts and not have to buy for all 10 family members, but I have not found the balance as of yet.

Jon’s Alien Theory:

This is my theory to not just bring about an end to the recession, but also bring about world peace.
It would unite everyone on this planet together and could, I say/write could, improve the global economy.

Aliens from another world!

If aliens from another world came to Earth, as a species, we would have common ground together.

This not only works if the aliens are hostile or threaten our world, but also if they turn out to be friendly and share great technical advances with us.

If you think about it, not too much, it seems to make sense.

So just a few ideas to make you think, wonder, or just plain laugh…at me.

Would you like free help? Ask your question here.

Financial Difficulty Warning Signs

How do you know if you are experiencing financial difficulties or could be down the road?

What are the warning signs?

One easy way is if you are in arrears with a bill or debt, that’s an easy sure sign.

However there are some other warning signs to keep on the look out for.

Balances increasing on your credit cards; you are paying the minimum payment, but still using the accounts. By just paying the minimum payment and continuing to use the accounts the balances go up and not down.

This also goes for your overdraft.

If you continually use the overdraft and then when your wages go on it pays back/is eaten up by the overdraft, which in turns causes you to need to use the overdraft again; it creates a vicious financial circle.

Are you borrowing from friends and family to get through the month, another sign.

Borrowing from one account or credit card to pay another; a huge sign.

Using credit cards to buy basic items like food, petrol, etc, because you don’t have the cash or money in your account to pay for them.

This is not an inclusive list, but a few of the signs to look for.

So what to do?

Speak to a professional advisor and if you are in arrears with the accounts, look at a repayment plan such as a Debt Management Plan or an IVA if possible.

DMP’s are always a good starting point and tool to use to sort out the debt issues.

And of course if things are grim and you add in the factor of unemployment in the mix, bankruptcy is always an option.

In addition now there are also Debt Relief Orders to assist those who are insolvent.

DRO’s are another form of insolvency, sort a mini-bankruptcy, or bankruptcy light. They are for people who have debts of less than 15K, no assets and no surplus of income each month. They began in April of 2009.

So while for many people they know when things are tight or difficult for them financially, but some people are less observant, or just don’t want to face the facts.

So take a look at your finances, and if things are not what you want them to be, there is help, and advice out there.

Would you like free help? Ask your question here.

A Few Unique Ideas

Financial Difficulty Warning Signs

Ask a Free Question Now

Categories