'Debt problems can be solved' with budgeting
www.moneynews.co.uk > General finance > 'Debt problems can be solved' with budgeting
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Money News |
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'Debt problems can be solved' with budgeting
Tue 1st Apr 2008
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A spreadsheet is useful for consumers looking to balance their income and their outgoings, director of Thomas Charles James Falla said.
He remarked: "Simply live within your budget. It isn't rocket science. If you're spending more than you’ve got coming in then you’re going to get into debt."
The list of outgoings should include bills, food and taxes, but not payments to debt or loans, Mr Falla suggested.
He commented that this will allow consumers to work out their disposable income, which they can then use to pay off their debts or make overpayments to loans.
Mortgage arrears have increased this year, Citizens Advice stated recently.
It found late payments increased by 35 per cent in the first two months of the year, compared to the same period in 2007.
Related News : General finance |
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