Debt!
First of all a rant: all those debt consolidation loan adverts should be banned, espcially the one with Carol fucking Vorderman! They just encourage people into more debt and they make vast profits. "we even had enough left over for a holiday..." no you havent - that money is for paying your DEBTS! You numpties! Rant over :D

I can't admit to being great with money, I have a student loan and a credit card, a large mortgage with extra money borrowed on top to pay for our wedding. Between us we owe roughtly £125000 inc mortage. I don't have plasma HD TVs or Xbox 360s and a flash car, just a normal TV, Renault Clio etc. here are my debt tips, not to magically render yourself debt free, just how to manage your funds a bit better.

1) Stop Renting - if you are renting a place, switch to a mortgage as soon as you can - why should you be paying someone elses money so that they can live the high life? in fact greedy buy to let BASTARDS should be taxed at 90% to bring property back so that first time buyers can get a foot on the ladder. I bought my first house with my partner back in June. Although the mortage payments are slightly higher we own the property so its all investment.

2) Don't get stuff on HP, credit or personal loans - save up for it. Never take Payment Protection Insurance - its crazily expensive!

3) Sort your current debts; make sure you are paying the LEAST possible. If your credit card is charging lots of interest, switch! We changed the gas and electricity using Uswitch and we're saving lots of money. We'll be doing the same with the mortgage.

5) Pay off your most expensive debt first.

4) Read into so called "deals". My partner goes to the supermarket and falls for the "2 for £2" deals - work out how much you actually save by buying 2 - usually it is a few pence. Is it worth it?

5) Ebay your old stuff!!!

6) Switch bank accounts to online ones like Smile or Cahoot, earn some proper interest on your cash, not 0.1% like high street banks.

Good luck everyone - remember debt isn't a bad thing if you can afford it.
( h3donist tryin' to play me out as if my name is Sega.., Fri 24 Nov 2006, 15:48, Reply)