Daily Tips on How to Deal with Debt
Due to the rising cost of living, nearly 9 million people across the UK are struggling with
debt
problems. If you are in debt, it is important not to worry and to seek help if necessary as well
as try to cut your spending where it is possible.
Here are some tips on how to spend less:
Budgeting
Try to budget and keep track of your outgoings so you are aware of exactly how much you
will be spending each month. If you review your transactions of how much money comes in
and out of your account, it will allow you to notice any bad spending habits. Budgeting
doesn’t need to be complicated; you can record it by using simple lists or even by
downloading budgeting apps. This will keep you organised which may relieve you from any
financial stress you’re experiencing.
Change Your Food Shopping Habits
Food shopping and groceries are where households spend a significant amount of their
money weekly. Instead of just going to the closest supermarket, research the upcoming
deals and ensure you are getting the best quantity for your money; for example, buying non-
branded items instead of branded ones. By doing this, you will be able to significantly reduce
your spending on food and household items, which in the long run may help you overcome
your debt much faster.
Walking
Travel is one of the main expenses in a lot of people’s lives and walking instead of using a
car or public transport is a free alternative. Whilst this isn’t always practical, walking, when
possible, can be an instant money-saver that could reduce your expenditure a lot throughout the
year.
Try to Change Personal Habits
Habits such as long showers, leaving the lights on, and turning the heating on can increase the
cost of your household bills massively. Try to take care of the use of your water, keep the lights
off as much as possible, and only use the heating when it is necessary. By adapting to this
lifestyle, you are likely to spend much less over the course of the year.
Cut Monthly Bills & Subscriptions
Unused subscriptions, such as Netflix, can easily be forgotten about but can end up costing
a large expense in the long run. If you are in debt and are trying to spend less money,
cancelling unused subscriptions will be one very helpful step for you. It is also important that
you investigate how beneficial other subscriptions are in comparison to the yearly cost, to
decide which ones can be avoided.
Black Friday & Store Sales
When purchasing new goods, which are a necessity, such as home appliances and furniture,
etc., try to take advantage of the huge sales (for example Black Friday), to limit the spending
on your shopping. You can simply look for sales online or in-store to find the best deals and
therefore save as much money as you can.
If you are concerned about personal debt, don’t suffer in silence. Get in touch and we will
help you find a solution and manage your worries.
