Top tips on how to prevent debt

 
Make a budget List what money is coming in and going out.  You will be able to work out how much money you have for bills, debts and any money left over to save.
Contact us for one 2 one support Our Money Advice Team offer one 2 one support on all kinds of money matters, from preventing debt, to managing money, we are here to help, so contact us on 01204 329868 to chat over the phone or to make an appointment.
Double check where your money is going Check your bank and credit card statements on a regular basis to see where you money is being spent.  If you dont keep track of spending this can start to spiral out of control.
Shop around

Make sure that you shop around to get the best deal on all your bills, especially insurance and utility bills.  We can help you look for better deals on energy, click here for more information.

Decide which are your spending priorities When dealing with debt, make sure that priority bills are paid first.  These are bills or debts that can have serious consequences for you and your family if they are not paid.  Click here for more information.
Set yourself a weekly / monthly budget Once you know how much is being spent on regular bills and food etc, set yourself a weekly or monthly budget on how much you spend.  Ask yourself do you really need to buy something if its not within your budget, if you are unsure, the answer is probably no!
Set yourself some goals Do you need to save up for a special occasion or perhpas want to go on holiday?  Look to put away regular savings into an account, even if its a couple of pounds per week, it soon mounts up.  We would recommend a Hoot savings account, click here for more information.
Make sure you are getting all the right income and benefits

Our quick benefit calculator is designed to work out all your benefits entitlement even if you are working or thinking of starting work. Ring us on 01204 329868 and we will let you know if you are missing out on anything.

Do you really need it? Before you buy something, ask yourself do you really need it?  Chances are if you are unsure, the answer is no!
Open a savings account Look to put away regular savings into an account, even if its a couple of pounds per week, it soon mounts up.  We would recommend a Hoot savings account, click here for more information.

 

Bolton at Home Money Advice Team

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If you've money worries or debt issues, please contact our Money Advice Team on 01204 329868, or Send us an email by clicking here for free, confidential help and support.