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Prevention

How to avoid getting into debt

Easier said than done!, you are more than likely reading this page and already in debt to some degree, so it's already too late for now.

But we look here at some methods to avoid debt, or rather too much debt and this may help us look at our current status. Look at what we can do to help you avoid the current situation getting worse, plus using the other ideas and tips across this site to help deal with the current debt problem we have (if any).

The problems

• Wanting it now - the perils of modern society, to hell with saving for it, or waiting til Christmas or your Birthday I want it NOW

• Easy credit - all I have to do is sign the forms and I can have it NOW

• Ignorance of consequences - why worry about tomorrow - not bothered if I cannot repay, at least I can enjoy it NOW

• Buying goods which go out of fashion, loose value and deteriorate rapidly, so the value you get is poor and a short term gratification buy

• Buy on high interest rates with heavy penalties for late payments

• Borrow long term (10 year remortgage) for short life assets (TV)

• Buy no actual resalable intangible asset - holiday, party, wedding

• Borrow just to enjoy yourself in the short term

• Delay payment in the knowledge you cannot really afford it now let alone "then".

• Believe your job is safe and secure

• Believe interest rates will never change

• Believe you will never be ill

The solutions

• Avoid impulse buys, thing and plan all major buys or orders

• Buy what you need (must have) rather than what you "want" (selfish desire)

• Pay as you go if you can in full or part

• Shop around for best deals, get several quotes

• Shop around for best credit deals if you need to borrow

• IF you are finding cash flow tight readjust payment dates or even monthly payment values.

• Communicate with your creditors they like that, shows you as responsible.

As a Member you can tap into specific area to deal with particular types of debt from simple household bills to long term mortgages.