Have you been a little spend happy recently? We understand that during the summer holidays it’s easy to go a little overboard.
If you have children at home that are driving you crazy, the perfect solution is to take them out of the house and down to the local leisure centre, theme park or activity club… But every penny adds up.
If the pennies are adding up, it’s time to figure out a plan before the debt becomes over-bearing.
Of course, your children’s childhood should be full of laughter, fun and happiness but if it comes with a hefty price tag it might be time to consider other options that can guarantee them a great summer. There are multiple alternatives to expensive activities. For example, instead of visiting the leisure centre why not visit your local park or nearest Lido? These can be free or next to nothing and always great fun!
Is it worth it?
If you are out shopping and see a t-shirt that you like, stop and think, do I really need this? Because 9 times out of 10 you won’t – it’s just an impulse buy. You’ll most likely wear the t-shirt once and place it at the back of your draws never to be seen again. If you’re out shopping write a list of the necessities and be strict with yourself!
Credit card cycle
It’s easy to pay off a few activity classes, a jumper or even a meal out on a credit card… but it all mounts up. Credit cards are a deadly cause of debt due to the fact it’s easy to forget about the interest on top of repayments. If your credit card charges 20% in interest. That’s a hefty sum to have to pay back! We recommend only using your credit card when entirely necessary and not on household bills or unnecessary items because this is how your credit card debt mounts up and you enter a never-ending cycle of debt.
Earn some more cash
If you’re already in work and struggling to find cash to pay back some finances or looking to earn a little more why not take on few easy jobs, including dog-walking, babysitting or even selling some of your items on eBay. Yes, the pay may not be much, but it could help you pay off your debts that little bit quicker.
Talk to a professional
We understand that a lot can happen during the summertime, but if you’re worried that come September/October you’ll be drowning in debt or you’re feeling overwhelmed by your finances remember that you can always talk to a professional. We guarantee that you won’t be the only one.
Here at Sensible Debt Advice, we provide advice and support on debt and help to find you a solution. Call 01656 661426 for a confidential and free consultation, to discuss your options.