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How To Get Your Your Money And Debt Under Control
By debs Jenkins, Fri Dec 9th

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Word Count: 356 Character Width: 60 Resource Box: Debt-Free ForLife

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How To Get Your Your Money And Under Control

- by Steven Erlick MA

(c) Steven Erlick. All Rights Reserved. http://www.BookShaker.com

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If you are struggling with money and here are some thingsyou can do to help. Admit to yourself that you have to muchdebt. It is very easy to strugle on each month robbing Peter topay Paul without getting to grips with the problem. If you arespending more than 10%-15% of your income (excluding a mortgage)on repayments you are probably financially stretched. Listout how much you owe on credit cards and loans etc. It will comeas a shock so be prepared! Also list out what the repayments areon each. Check if your spending on servicing is higher than10- 15 % of your income.

If it is, here are some options to sort out the problem. If youcan, increase your income. You may be eligible for governmentmoney such as tax credits or help with council tax or rent ifyou are on a low income. Alternatively you may be able to get apart time job or rent out the spare room.

If it is not possible to increase your income you need to lookat ways of reducing your spending. Are there things you can cutdown on? Start buying cheaper products at the supermarket. It isamazing how much your grocery bill can be reduced by buying "ownbrands".

If increasing your income or reducing your expenditure is notpossible or insufficient then write to the people you owe moneyto and explain the situation and ask them to suspend theinterest so that you can start to reduce what you owe them. Thisis known as an informal arrangement. More formally you canarrange for a legally binding agreement with your creditorscalled an Individual Voluntary Arrangement. This will oftenreduce the total amount you owe by a considerable amount. Theother main way of getting rid of uncontrollable debts isbankruptcy, this has been made easier and simpler of late. Youshould get some advice about these options from the localCitizen's Advice Bureau.

The



main thing to do if your are struggling financially is to dosomething about it, before it gets worse.

=========================================================== Debtis not your fault. Learn how to get out of it and prosper. Theacclaimed Debt-Busting Manual "Debt-Free For Life: ProsperityFor the Rest of Us" is available here...http://www.bookshaker.com/product_info.php?products_id=115===========================================================

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About the author:=========================================================== Debtis not your fault. Learn how to get out of it and prosper. Theacclaimed Debt-Busting Manual "Debt-Free For Life: ProsperityFor the Rest of Us" is available here...http://www.bookshaker.com/product_info.php?products_id=115===========================================================>

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