Mark Lauterwein is a UK based writer. He is currently writing articles on a variety of subjects.
Debt is like quicksand. Someone can be happily walking along and the next thing they know they’re up to their elbows in gunk. The more they struggle, the more they get sucked in. In this situation Bear Grylls keeps a cool head, thinks out a plan of methodical action and is soon standing on terra firma. It is possible to use the same approach when escaping from the quagmire that is personal debt.
Sitting down and formulating that plan is the key. It is best to write down the points since the very act of writing something down suggests a commitment to change. But what would this plan look like? What would be the main points? Here are a few pointers:
• Holidays: taking holidays at off peak times can save a lot of money. Flexibility is the key here. Last minute deals are good too.
• Benefits: ensure that all benefits and support that you are entitled to is, in fact, being claimed. The Citizens Advice Bureau can help here.
• Utilities: with the cost of electricity so high (and set to climb still higher yet) conserving energy is not just a matter of ideological preference but one of economic necessity. So, lights off in empty rooms.
• Economise: look at monthly expenditure and decide if savings can be made. For example bringing sandwiches everyday to work can easily save £50 a month. Direct debits that many have include gym membership fees, satellite TV subscriptions, mobile phone charges. Are all these really offering value for money or are there better deals available? And as for that new book you were keen to read, is it really best to buy it when a copy can be ordered from the library for less than a pound?
Debt consolidation loans are a further option for those looking to devise a new debt management strategy. This can certainly simplify the picture when there are numerous creditors but all options need to be carefully considered in order to find the best deal.
22.4.2008
- Related Videos
- Related Articles
- Ask / Related Q&A
- Online Debt Management: Debt Management is Easier Than Ever
- Debt Management & Debt Freedom
- Credit Card Debt Management— Debt Remediable Finance Program
- Debt Management—debt Riding an Act Off
- Debt Management: Proper Way of Managing your Debts
- Debt Management: Manage Your Debts Efficiently
- Debt Management: Managing Your Debts Suitably For You
- Beat Debts With Debt Management
ATM'S are convenient but should the fees be so hi?
By: Paul Ingersole | 04/12/2009One thing that will help determine if you should use a particular ATM machine is not just the location. If you use an ATM machine put out by your bank, it will help you save money. This is because ATM machines that belong to your bank usually don’t have a fee.
Are All Novice Real Estate Investors Seeking a Get Rich Quick "Fix?"
By: Megan McGinnis | 04/12/2009What's the allure of real estate investing? Why are so many people drawn to this field as a means of creating a second income? I think this is so primarily because it is sold as a get rich quick scheme. Have you ever been to a real estate "seminar" where the presenter shows testimonial after testimonial of one of their fix and flip students bringing home a $20,000 paycheck on their first deal or maybe even a $100,000 paycheck?
Personal Loans For Poor Credit To Meet Unforeseen Expenses
By: Alan Lim | 04/12/2009There are times when we have to incur unforeseen expenses that spoil our budget and we have to look around for loans. It is possible to procure personal loans for poor credit during times of crisis by searching on the right websites on the Internet.
Debt Options - Is Filing Bankruptcy A Good Idea To Putting Your Financial Life In Order?
By: John M. Stevens | 03/12/2009Filing bankruptcy is another alternative to getting a “fresh start”, but due to the New Bankruptcy Law, going bankrupt has become more complex and expensive than ever before. The new law that went into effect in 2005 added new requirements and regulations that have made the process of filing bankruptcy more complicated.
Debt Options-Credit Counseling Can Offer You A Counselor To Aid You Along The Way
By: John M. Stevens | 03/12/2009Before choosing an alternative to pay off your debt, you must fully understand each option that’s available to you. For this article, I’ve picked to focus on one of these financial choices: credit counseling. We’ll learn what it’s all about and what consequences it entails, both positive and negative. In today’s competitive world knowledge is power, so read on to learn more about credit counseling and if it’s the right choice for you.
Debt Options - Debt Settlement Can Help You Settle Your Debt For Less Than What You Owe
By: John M. Stevens | 03/12/2009I know you don’t have the time to research and fully understand the different financial alternatives available to you. Not only are you overwhelmed with debt, but you’re also trying to figure out what choice might be the best one to help get your finances back on track. Thus, I’ve put together this summary about a particular financial option that works well for many consumers: debt settlement. Learn what it’s all about and its main pros and cons.
Debt Free Solutions - Learn How To Prevent A Debt Settlement Scam
By: John M. Stevens | 03/12/2009Among different debt free solutions to choose from, debt settlement is an effective one that everyday consumers choose to go with. That’s why many criminals have smartly put together debt settlement scams to attract people interested in this financial option. Thus, it’s important that you learn how to spot a fraud when you see it. Read the following list of four different ways to help you identify a possible debt settlement scam.
How to invest in Gold using mining company stocks
By: Jeff Bross | 03/12/2009Learn how to invest in gold using gold mining stocks.
Gap Year: Over the Hills and Far Away
By: Mark Lauterwein | 02/05/2008 | TravelA gap year is not only an adventure to enjoy for the moment, it is also the stuff of future memory. Many who have taken time out from their day-to-day routine to gather new experiences abroad recall their adventures as the best months of their lives. And the profile of those opting to do something like this is changing: increasingly it is the older traveller who chooses to take a sabbatical.
Debt Management: Beat Debt? No Sweat!
By: Mark Lauterwein | 23/04/2008 | Personal FinanceSo much in debt, you’re running out of bread? Now’s the time to use your loaf!
Debt: Bad Debt Rising
By: Mark Lauterwein | 23/04/2008 | Personal FinancePeople in debt get upset. Not planning for this can be a cause of regret.
Edinburgh Hotels: Auld Reekie Comes Up Roses
By: Mark Lauterwein | 22/04/2008 | TravelHistorically Edinburgh was once the capital of a British kingdom that served as a buffer state against the Pictish people north of Stirling.
Solicitors: Clients Value Good Service Above All
By: Mark Lauterwein | 21/04/2008 | LawA couple of years ago Which? investigated the quality of service offered by solicitors to their clients in England and Wales. The results were dispiriting, to say the least.
Electricity Bills: the Bill Explained
By: Mark Lauterwein | 21/04/2008 | FinanceUtility bills contain a lot of information and the format is not always as clear as it might be.
Credit Cards: Guidelines for Credit Consumers
By: Mark Lauterwein | 21/04/2008 | CreditWhen credit card users want to apply for a new card it is best not to approach several providers individually.
Compare Gas Prices: British Gas Raises Prices
By: Mark Lauterwein | 21/04/2008 | FinanceIn the first quarter of 2008 British Gas, the major gas supplier in the UK, increased prices to the tune of 15%.