After heavy Christmas spending, one of the most common New Year’s resolutions is to organise personal finances or to try to change your spending habits.
Last year, CABA continued to receive calls from people concerned about their increasingly difficult financial situations and levels of debt.
Unfortunately debt is now a part of modern life. However you should never let it turn into bad debt.
Payplan.com has recently offered a number of helpful tips if you are looking to positively change your spending habits.
These include:
• Write down all of your expenditure and see where you are spending your money. From this you can look at areas that are excessive or where you know you spend too much.
• For all of your utilities you can use comparison websites to see how much you can save. If it turns out that you have the best deals then you haven’t lost anything. However you could save yourself lots of money if you find a cheaper deal.
• On your grocery shop, why not switch to the supermarket own brands. Alternatively why not switch supermarkets? Try going to your local supermarket to buy cheaper fresh fruit and vegetables or visit one of the low budget supermarkets.
• Make use of loyalty card points and use them wisely. Tesco Clubcard and Sainsbury’s Nectar Card have double value vouchers if they are spent on certain items, so it is always worthwhile checking.
• Instead of cutting out luxuries, sign up to discount websites such as Groupon to get the things you love, for less.
CABA’s Money resource area also provides practical and useful information and advice on debt issues, money saving ideas and benefits.
If you are finding it difficult to manage your debt or things are spiralling out of control, call one of our debt advisors on 01788 556366 or click here to use our new Livechat facility.
Source: Payplan.com 2012