1. Set a budget
Setting a budget is the biggest step you can take to get on top of your finances.
Sit down and work out how much money you have coming in every month, and what you need to spend.
Don’t forget to account for annual expenditure, like car insurance or road tax, by dividing it by 12.
Our digital advice tool can help.
2. Open your statements
We know it is tempting to ignore the envelopes that land on the doormat, especially in January.
Ignoring the problem will only make it worse, so take a deep breath, open all of your statements to help you to get a handle on how much you owe.
Write down a list of all of your debts, together with the outstanding balances and repayment dates for each.
3. Get free debt advice
Remember that you are not alone in this. Free, independent advice is available from National Debtline – so seek free advice as early as possible, and resist the appeals of commercial debt management companies whose high fees and charges will only add to your debts.
The earlier you seek free advice, the quicker and easier your problem will be to solve.