Surviving On A Budget ~ Debt Managements and Consolidation

Before you start budgeting you need to know where you need to budget. Make a list of all of your outgoings; food, clothes, gas, water, toiletries, cleaning, electric, home/car insurance, fuel etc?By making this list you can see exactly what you are spending each month and this will give you a better chance of seeing where you do need to cut back Once you know where you need to cut back, you can now start looking at where you can start making changes. Making the changes is usually the hard part and the key to success is to start off small and gradually build yourself up, as you do not want to do too much too soon. Things that you can do to try and save money include; switching gas/electric supplier, shop around at different supermarkets to reduce your food bill, change or reduce your mobile phone contract, change or reduce your phone/broadband/cable TV package, take packed lunches to work or why not use comparison websites for home and car insurance to get the best deal.Once you have altered your budget and changed your spending habits, to be successful you need to make sure that you stick to it. Sticking to a budget can sometimes be very difficult, particularly if you are used to spending whatever you like on cards and such like. In order to be successful you need to be determined to stick to the budget and to get yourself out of debt.Once you have adapted to your revised budget and you are comfortably getting by, you can give the money you are not spending to your creditors. That is not to say that you will be able to afford full contractual payments, but you may now have enough surplus income to set up a repayment plan with your creditors.

If you have done everything that you can to try and reduce your outgoings and you are still struggling, you can still contact us as we can help you by advising you how to deal with your creditors while you make reduced token payments.

If you are struggling with debts then please call Payplan on 0800 2802816.

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