Close

28/06/2016

Hints and Tips to Avoid Debt

Facing debt can be scary, and getting out of debt can be a challenge, so here’s some hints and tips on how to avoid debt. At WB Debtcare we also offer credit card consolidation, to help you get out of debt.

Set a Budget (and Stick to it)

Setting a realistic budget is relatively easy if you know where to start, sticking to your budget, however, is a different story. When setting your budget, you must consider all your outgoing payments, everything from your rent or mortgage to your weekly grocery shop. By including all your necessary spending, you are more likely to set a realistic budget which you can stick to in the long run.

Cut Back on Unnecessary Spending

Spending money on things you could go with out (or find a cheaper alternative for) can make a huge difference in your spending. Cutting back your spending in order to live within your means can make a huge difference in your budget and can put you on track to a healthier bank balance. By cutting back on things like your daily coffee or your regular manicure you will be surprised by how much you can save.

Compare Prices

Although you may not be able to buy your favourite brands, but by shopping around you will be sure to find a bargain. By comparing deals and shopping in more than one place, chances are you will find the same or similar products for a better price. Although shopping around for a deal can be time consuming, it can save you a huge amount of money in the long run.

Avoid Large Purchases

When sticking to a budget and avoiding debt, you should avoid any large payments you can’t afford. If you really need to make a large purchase, you should try and save up as much money as possible to avoid using credit and landing in debt.

Avoid Using Your Credit Card

It is all to easy to forget how much money you are spending when you just swipe a piece of plastic, but it is important to remember that you are spending real money. When you use a credit card you can often be tempted to spend more than you can afford, especially when you have a high credit limit. People generally use credit to make purchases they can’t really afford. Making these large purchases on credit can often result in high interest rates, and it becomes very easy to slip further and further into debt. When you find yourself in this situation it can be very scary, and it can often seem like there is no escape.

Credit Card Consolidation

At WB Debtcare we want to help you overcome debt with our alternative to credit card consolidation. By using one of debt management solutions, you will be able to pay back what you owe in manageable, affordable instalments. Our alternative to credit card consolidation is a great option for people facing credit card debt as paying back several cards can be daunting and it can be hard to know where to start. With our credit card consolidation service, all your debt will be in one place, making your life easier. If you are interested in our alternative to credit card consolidation service, get in touch today.