Ian Walsh is the webmaster at Samuel Blankson Books, information on Finance, Gambling and Self-Help.
A recent survey showed that more than 2 million people in the UK had unsecured debt of more than £10,000 (approximately $16,000). As you can imagine most of this debt is held on Store and Credit Cards, which are quite often the most expensive form of unsecured debt an individual can acquire.
How manageable this debt is, is often down to the individual's circumstances. One thing for sure is that when borrowing you want to aim to reduce the amount of interest that you pay on any outstanding debt. Here are a few tips to achieve this.
1. Pay off expensive debt first
Unsecured lending is by far the most expensive borrowing and if you have a number of cards, some probably charge higher interest rates than others. If you are not paying off the full balance of your credit card each month, aim to pay more off the most expensive cards.
2. Transfer expensive debt to cheaper cards
There's a lot of competition out there. Many credit cards have introductory offers with either low or zero interest rates. Transfer your balances from your old card to these new cards. Remember to close your old credit card accounts to remove temptation. It is a well known fact that many people don't close their old accounts and then rack up more debt on both the old and new accounts.
3. When you've cleared some debt, try not to borrow more
When you've cleared your credit card balances, try to get into the habit of only spending what you earn. Stop using the cards and to remove temptation cut them up. It pays to disciplined. Remember you're trying to reduce debt. The best thing to do is to create a budget for yourself and pay for everything with cash.
Obviously this isn't an exhaustive list, but if you follow these tips it will be a positive move in the right direction.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Debt Relief Information - Why to Always Compare Debt Relief Programs First
- Debt Relief Information - How Stimulus Money is Making Debt Relief Financially Attractive
- Doctors and IRS Tax Debt Relief
- Debt Relief Systems - 5 Easy Types
- Mortgage Forgiveness Debt Relief Act
- Is Free Debt Relief Available?
- Debt Relief in Alaska
- Tips on Choosing Debt Relief Programs
I need help Guysgirls please major.Exboyfriend problem
By: Julia Matiko | 02/01/2010I've found that most people, breakups are the worst of all nightmares. You normally you can not sleep, eat, rest and relax because when you look at something, it triggers memories of your ex. Getting over an ex is never painless for many people. It needs decision and willpower to overtake your emotions and get through it each day. If you need to know how to get over an ex, then this report will certainly help you to focus on progressing with your life.
Am I still pathetic for holding feelings for an ex-boyfriend
By: Julia Matiko | 02/01/2010I've found that most individuals, been dumped are the worst of all nightmares. Usually you can not sleep, eat, rest and relax because when you look at something, it triggers memories of your ex. Getting over your ex is ne'er easy for most individuals. It needs purpose and will power to overtake your emotions and get over it each day. If you desire to know how to get over an ex, then this article will for sure service you to focus on moving on with your life.
How do you handle being just friends with your ex boyfriend when
By: Julia Matiko | 02/01/2010I've found that many people, breakups are the worst of all experiences. Usually you can't sleep, eat, rest and relax because every time you think about something, it reminds you of your ex. Getting over an ex is ne'er easy for most people. It requires purpose and willpower to overtake your emotions and live through it each day. If you require to know how to get over an ex, then this information will certainly assist you to stress on moving on with your life.
What to get my 14 year old boyfriend for christmas
By: Julia Matiko | 02/01/2010I've found that a lot of individuals, ending relationships are the worst of all nightmares. Usually you can not catch some Z's, eat, rest and relax because when you look at something, it reminds you of your past lover. Getting over your ex is never painless for most individuals. It requires decision and self-will to overcome your emotions and get through it every day. If you require to know how to get over an ex, then this article will surely service you to stress on moving on with your life.
get over ex boyfriend
By: Julia Matiko | 02/01/2010For most individuals, been dumped are the worst of all nightmares. You normally you can't sleep, eat, rest and relax because when you look at something, it triggers memories of your ex. To get over an ex is ne'er painless for many individuals. It takes purpose and will power to overpower your emotions and live through it every day. If you want to know how to get over an ex, then this information will surely service you to focus on moving on with your life.
How do you handle being just friends with your ex boyfriend when
By: Julia Matiko | 02/01/2010I've found that most individuals, breakups are the worst of all experiences. You normally you can not catch some Z's, eat, rest and relax because when you think about something, it reminds you of your past lover. Getting over your ex is never painless for most individuals. It takes decision and self-will to overtake your emotions and live through it every day. If you desire to know how to get over an ex, then this report will certainly service you to focus on advancing with your life.
Does anyone know some ways to get over an ex boyfriend
By: Julia Matiko | 02/01/2010I've found that most individuals, been dumped are the worst of all experiences. Normally you can't sleep, eat, rest and relax because when you look at something, it reminds you of your past lover. To get over an ex is ne'er easy for many individuals. It requires purpose and will power to overtake your emotions and get through it each day. If you require to know how to get over an ex, then this report will for sure assist you to stress on going on with your life.
Exgirlfriend dumped me and having hard time letting go. I still
By: Julia Matiko | 02/01/2010I've found that a lot of individuals, breakups are the worst of all experiences. You normally you can't catch some Z's, eat, rest and relax because every time you think about something, it reminds you of your ex. To get over an ex is ne'er painless for many individuals. It takes decision and self-will to overcome your emotions and get over it every day. If you require to know how to get over an ex, then this report will for sure help you to stress on progressing with your life.
The 2007 Honda Civic Sedan
By: Ian Walsh | 19/11/2006 | CarsThis latest model from Honda promises sleek sexy looks combined with top quality performance. You will have all of the latest in Honda technology and will get you where you need to go in style.
Reducing Your Unsecured Debt
By: Ian Walsh | 28/04/2006 | AdviceA recent survey showed that more than 2 million people in the UK had unsecured debt of more than £10,000 (approximately $16,000).
Looking After Your Cars Tires
By: Ian Walsh | 28/04/2006 | AutomotiveA piece of advice that I've always taken to heart when looking after a car was 'always look after your breaks and tires'.