As long as credit is easy to receive, debt will continue to walk with us through life, taunting our every move and aggravating our very existence. Some debt advisors state that the total amount of debt accrued per month in credit cards, loans, mail order catalogs etc., should not exceed any more than 36% of [...]
The first things you have to take into account when you receive your payslip are the unavoidable demands made on your salary by the Government, namely income tax and National Insurance contributions. These are generally deducted before you see your money. The amount you see as ‘net pay’ is yours but needs to be managed effectively. [...]
In addition to the standard ‘write and stick to budget’ there are a number of further ways to help you stay out of debt. One of the most effective ways is to carefully think about whether you actually need to make a purchase – don’t just buy something because it’s on sale, on offer or [...]
1. Never let your expenditure exceed your income. Use a budget to work out how much you can afford to spend on the various costs of living and stick to it! 2. Write down everything you spend. It’s surprising how much money you can waste on non essentials and not even remember where it went. [...]
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