A leading UK company offering debt management services this month offered 5 'Fab Feb' tips to help people stay debt-free.
(prHWY.com) February 24, 2013 - Brandon Way, United Kingdom -- A leading UK company offering debt management services this month offered 5 'Fab Feb' tips to help people stay debt-free. UK Money Solutions is a UK debt management company that helps individuals move out of debt, but as Kevin Fiedler from the company says "It is always better to stay debt free rather than try to pay off debts and we have some great tips to help."
February can be a month when pressure on finances is at its greatest. Much of the Christmas expenditure will appear on credit card statements in January with a payment date due in February. In the light of this UK Money Solutions has developed 5 Fab Feb tips to help people stay debt free.
UK debt management tips
The 5 tips are:
1. Live within your budget
You need to create a budget and keep track of how you are spending your money. Living on a budget doesn't necessarily mean giving up all your recreational activities. But a budget will help you keep your expenses under control to avoid overspending.
2. Look at long term costs
Before making a large purchase, figure out how much it is going to cost you in the long run. If you charge the item, it will show on your credit card statement for a long time. Don't use your credit card to purchase items that you cannot afford. If there is something expensive you want to buy, save money for it instead of charging it.
3. Learn the true costs
Take the time to understand how interest rates and payments work with a particular credit card or loan. Before you purchase an item with a credit card, do the maths and see how much it will actually cost you over the long run.
4. Pay off credit cards
Avoid credit card debts by paying your balances in full each month. That way, you'll keep your debts at the minimum and avoid paying interest on these accounts. Use your credit card if you really have to but be sure to have a debt elimination plan that will enable you to pay off the debt within a few months.
5. Maximise your income
Whether exploring an welfare benefits that are available, reclaiming mis-sold PPI or selling off all the unused items in the garage/shed/loft, maximising income makes sense.
Debt management company UK Money Solutions was formed in 2005 and has already become a leading debt management company by offering planning and debt consolidation services. They are recognised pioneers within the sector. A large amount of their work involves handling claims for mis-sold PPI on behalf of their clients. More details about their services can be found on their website at
www.ukmoney-solutions.com.
For More Details visit us at:
UK Money Solutions
Floors 2, 3 and 4
Murdoch Chambers
Birmingham
B4 6PH
Website:
http://www.ukmoney-solutions.com
Telephone: 0121 236 4843
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