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One of the best ways to get your money sorted out is by understanding the situation you're in. Everyone has different needs and circumstances, so it's a good idea to know where your money's going.
Take a look at these statements below and see if you recognise any of your money habits. Then, if you would like to speak to our specialist team, please get in touch.
If there are any terms you don't understand,
check out our jargon buster for a simple explanation.
If any of the statements above sound like you, then take a look at some of the possible solutions you might want to consider.
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Always check your balances - before you take out any cash check your balance at the cash machine. And make the most of online banking to keep a check on what you're spending and withdrawing.
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Work out your ins and outs - if your debts are mounting up then you need to take a look at just how much is coming in and how much is going out. Once you've got a clear idea of your incomings and outgoings you need to come up with a plan and stick to it.
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Always pay more than the minimum amount - if you only ever pay the minimum amount it could take years to clear your balance and you'll pay more in interest.
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Pay on time - if you don't pay when payments are due then you'll end up getting a charge, which means a larger minimum payment next month. And it could take you over your limit which means another charge. Don't take the chance of missing a payment date - set up a Direct Debit to come out of your account around the time you get paid. Remember, you can always contact your card provider and try to arrange a payment date that's more suitable for you.
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Your 'debt card' - start calling your credit card your 'debt card'. It may sound like a strange thing to do but it could help you really think about whether you really need the item you're about to buy.
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Pay your card off when you get paid - relying on your credit card to get you through the month is fine as long as you're paying it off when you get paid. If you don't the balance soon racks up and you'll be paying more money in interest.
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Budget, budget, budget - having an agreed spending amount each week is a must. It's really liberating knowing you're in control of your money. Plus it'll make you think twice before you reach for the plastic whenever you see something you fancy.
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Can you earn more money? - that doesn't necessarily mean run out and get a second job, although it might not be such a bad idea. Maybe you've got things lurking in your loft that you don't need. If you do then why not see if you can sell them and raise some extra cash?
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Can you save any money? - make sure you're getting the best deal on your household bills. Perhaps you could be paying less. Go to price comparison websites to see if you can get a better deal. For example Uswitch.com can compare energy prices and confused.com can check if you could save money on your car/home insurance. And you can always ring around suppliers to try and get better deals on other services like mobile phones or broadband.
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Don't ignore it - the bills won't pay themselves or just go away. If you miss a payment it can affect your credit rating and end up costing you more money in the long run.
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Pay by Direct Debit - set up your Direct Debit payments around the time you get paid. Then you'll know you've got the money to cover your bills and it'll help you budget for whatever's left for the rest of the month.
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Don't panic - we don't want you to lose sleep over your debt. We want you to enjoy the feeling of knowing you're in control of your money. That's why we've got a specialist team set up to help you find ways to get things sorted.
Have a look at how we can help.
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