49 Nechells Park Road
How you can manage your money and prevent yourself from getting into debt?
You must pay your essential priority costs first, which are:
Mortgage or rent
Secured loans (if you have a property)
Gas, electricity, water and telephone bills
Travel to work or school by bus or car
Child care and/or school meals
Your food, toiletries etc
1)Write down how much money comes into your household ( Wage and any Benefit) each week or month,
2)Then write down how much money you need to pay for your essential priority costs to see how much
3)money you have left each week or month
4)Shop around for a better and cheaper deal.
5)Do not buy anything (even if they are on sale) that you do not have the money for or you do not really need.
6)Do not borrow any money unless you know that you able to pay it back after you have paid all your essential priority cost.
If you are in debt:
1)Do not ignore the problem – it won’t go away
2)If you have any problem in paying your rent or mortgage, contact your mortgage lender or the council as soon as you can to prevent it from getting worse.
3)Do not be threatened or bullied into making promises which you cannot fulfil.
4)Do not borrow more money to pay off your debts, especially by taking on more credit or charge
cards with higher interest rates.
5)If you are in debt contact us as soon as you can. We can help you to set up an affordable payment
plan with your creditors. We explore and explain to you any other options that are applicable to
your circumstance in sorting out your debts.
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