Debts & how to deal with them
Symptoms of debt
Debt can creep up on you, but if you keep an eye on your finances you'll be able to see it coming and hopefully act to prevent it becoming too serious. Below are some warning signs that may indicate you are falling into trouble:
- You don't have any savings
- You only pay the minimum balance off your credit cards each month
- You are occasionally late making payments on bills or you skip them completely
- You don't know how much debt you actually have
- You have been denied credit
- Your salary does not clear your overdraft
Finding a way out
If you find yourself in debt, there are a few ways in which you can make a start to clear it:
- Don't ignore it. Debt won't go away on its own, you can make positive steps to clear it
- Look at making some cutbacks. You don't have to cut out all your luxuries, but you will be surprised at how quickly the pennies can add up
- Do a thorough analysis of your day to day spending to help you identify where your money is going. Our budget planner will help you do this
- Talk to us early - the sooner you come in and talk to your bank, the sooner we can help you. We'll work with you to try and find the best solution, whatever that may be
If you are worried about your debt talk to a financial adviser today.
This advice is of a general nature and should not be relied on in relation to a specific issue without taking appropriate financial, insurance, investment or other professional advice. All opinions constitute best judgement at the time of publication and are subject to change without notice.
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