The festive season can really take its toll on your bank balance, leaving you with a real headache once the New Year finally rolls around. If you’re suffering from a financial hangover this January, then here we take a look at some top tips to help you get back on track and out of debt.
Don’t Bury Your Head in The Sand
When it comes to debt, it can sometimes be all too tempting to bury your head in the sand and hope the problem goes away. However, it’s vital you confront your money problems head on. As a handy tip it’s often a good idea to start by assessing the extent of the problem. Try making a list of how much you owe, who you owe it too, and when the debt needs to be paid off.
Once you have assessed the scale of the problem you can set about drawing up a realistic budget. Budgeting is a great way to get on top of your spending and save money. The key to success with any budget is making sure it’s realistic, so try to start off with smaller changes. It can also be a good idea to factor in the cost of a few treats for yourself too, as this can make the process a little less intimidating, and help boost morale when times get tough. For more advice on budgeting, check out our previous blog on budgeting tips.
Many of us rely on credit cards to get us through the expensive festive season. However, this can leave us facing some pretty hefty credit card debts once January rolls around. It can be worth checking the interest rate you are paying on your current credit card and seeing if you can find a better rate elsewhere. Even if your credit score isn’t the best, it’s still possible to find attainable deals.
If you’re in debt and are struggling to cope, it’s essential you seek advice as soon as possible. Here at Debt Advisory Services (Scotland) limited, we have many years of experience of helping people to cope with their debt and can offer advice on a range of debt solutions. We can also provide you with ongoing help and guidance to help you improve your credit rating and ensure you remain debt free.
So if you’re looking for debt solutions in Scotland, please do not hesitate to contact us here at Debt Advisory Services (Scotland) Limited today, and a member of our friendly team will be happy to help you with your enquiries.