To start with DON’T PANIC!!

In my opinion being in debt is when you cannot afford to make the minimum repayments on all your debts and still meet all your weekly/monthly outgoings.

No matter how bad your debts are or how bad you think they are there is always a way forward.

The main point is that you accept that you are in debt and start to deal with them. This will make you feel better and more in control of your finances.

If you’re wondering how bad my debts were then they totaled £59’915!!!!

Dealing with debt

When I first sat down to fully work out how bad things were even I was shocked by this (large!!) amount. The one thing that worried me most that I did not know where the debt came from. 

After weeks of investigation I found that I had overspent on credit cards and bank loans to cover the difference between what I spent and what I earned. If this describes you then it’s time to STOP and take stock of your income and expenditure!!

Remember – You’re not in debt because you want to be. Debt comes from spending money you don’t have. You need to take control of what you are spending. Within this blog I will outline basic methods that helped to save me money and how to cut back where needed. It’s not rocket science it’s just you need to be honest with yourself. No matter how bad you think things are there is light at the end of the financial tunnel.

More soon…..

Alex.