How to deal with your Debt

Also Read - Why are you in Debt : Budget Planner : Debt Consolidation Calculator

Before you get too far into Debt, below are some ideas which could help you save money, some are probably quite obvious to you but hopefully you'll find some that you hadn't thought of.

• Check whether you are receiving all the benefits you are entitled to, there may be some that you hadn't realised you were entitled to : Job Seekers Allowance, Maternity Benefit, Income Support or Working Family Tax Credit, rent rebate or council tax benefit etc...
• If you are unemployed or unable to work through illness check if you have payment protection insurance on your mortgage, loans or credit cards; payment protection may mean you're able to have your payments made for you whilst you recover and get yourself back on track..
• Cut down as much as you can on utility bills such as gas and electricity. Switch off lights when not in use. Lower the thermostats on radiators. Don't leave the heating on if you are not going to be in to benefit. Appliances left on standby use energy, turn them off not only is it greener it will save you money too.
• Save every penny you can on your food bills. Shop once a week and plan your meals. Preparing packed lunches could save around £50.00 per month. Freeze left over food and re-use.
• Cut down on eating out and take-away's, it is much healthier to eat fresh food but you can cook it yourself.
• A small economical car can save money on car insurance and tax as well as be more economical on fuel. Instead of using the car for short journeys, consider walking, using a bike or public transport. This will also improving your fitness and health.
• Enjoy family activities that don’t cost money. Museums, galleries and parks are free.
• Sell unwanted items that you will not use any more local classifieds or the Internet - make good selling tools and many newspapers offer free advertisements.
• Look how to gain study grants. You may be able to study part time to improve your prospects for the future. Learn to do the job you have always wanted to do.
• Wherever possible cut down on child care bills, it is usually a very big expense and there maybe council/church run nurseries. See if you are entitled to a grant for this service. If possible use family and friends to help you out if they are willing.
• Reduce monthly subscriptions, things like mobile phones, Internet, magazines and Sky television.
• Take holidays at off-peak times if possible and opt for the less expensive packages e.g. self catering.