How to stop your spending
You may have heard about getting a payment holiday from a lender, but what about giving yourself a payment holiday? If you’ve been on social media, you may have heard people talking about “no-spend” periods. This can mean anything from not spending on anything they don’t actually need to get through the period to not […]
Has the Lockdown Saved Us Money?
According to figures from the Bank of England, in April, households repaid £7.4 billion of consumer credit. This is the largest net repayment since their records began. Not only that, but they also increased their deposits in banks and building societies. This suggests that, for some people at least, the lockdown has actually saved them […]
How to save during lockdown
The early days of lockdown were marked by panic buying and intense spring-cleaning. Now that people have had a chance to adjust, it’s a good time to deal with tasks you might otherwise never find time to do but which could save or make you money. Here are some suggestions. If you have items to […]
Debts and the Coronavirus
To say that the Coronavirus is causing extensive disruption and confusion is putting it mildly. Rules seem to be changing if not every day then at least on a regular basis. For all the chaos, however, the basic ground rules of credit-management are still holding largely true. Debtors are expected to make at least the […]
How much debt is hanging over your head?
According to a poll by money.co.uk almost two thirds (63%) of UK residents aged 16-64 have entered 2020 with some kind of personal (non-mortgage) debt. A third of those polled had debts of between £2k-£10k and nearly a fifth had debts of over 10K. On the plus side, it’s not all bad news, these results […]
Make 2020 the year you deal with your debts
It’s been said many times already, but 2020 is the start of a new decade as well as a new year. On a more practical note, 2020 will be the transition year during which the UK and the EU will redefine their relationship. As yet, it’s unclear what the separation will mean in practice, but […]
What I\’d tell my younger self about Debt
We live and learn and some of us have to learn our lessons about debt through personal experience. The one major benefit of this is that we can pass on what we’ve learned to other people so that hopefully they can live their lives without ever being ensnared in problem debt. With that in mind, […]
What is causing the rise in millennial insolvency?
In some ways, millennials have had it great. They have not only enjoyed a massive level of peace and prosperity, but they have also been the first generation to enjoy the massive benefits of the digital age in general and the internet in particular. In other ways, life has not been so kind to them. […]
The secret burden of bankruptcy & debt
Although “debtors’ prisons” are now very much a thing of the past, debt can still be a nasty trap for the unwary and those who are already in a difficult financial place are, of course, likely to be the most vulnerable. As any parent will know, children are expensive and the younger they are, the […]
What happens if you don’t pay your creditors?
If you’ve taken out credit, it’s probably a safe bet that your creditor has asked you to set up an automated payment for your monthly bill. In principle, this makes sure they can get their money without you having to remember to send a payment. In practice, this only works if there’s money in your […]