Household debt on the rise!

Household debt

Debt that’s not dealt with can lead to repossession

National money education charity, Credit Action, has reported that the average household debt in the UK is on the rise, as the rate of repossessions goes up.

The fact that more repossessions are taking place implies that more households are struggling to make ends meet. If you find yourself in debt, it’s important not to ignore the problem, but to take action straight away.

Turn Debt Around can help with impartial, no strings debt advice, and we can also facilitate a range of debt solutions.

For more information, have a look at the ‘Debt solutions’ page on our website, or call us for an initial chat on 0131 777 3039.

Source: Credit Action

Stuggling to make a budget? Here’s how it’s done!

Pound coins

Could you save cash with a budget?

Whatever your financial situation, making – and sticking to – a budget can be a powerful tool to help you reach and maintain your financial targets.

If you are in debt and need to cut costs, or if you are trying to save up for something important, like your first flat or the holiday of a lifetime, a budget can significantly increase your chances of getting there.

It may seem obvious, but putting your outgoings and income in black and white (or red, as the case may be) on a spreadsheet can be extremely helpful in realising where you might be able to make savings, or how you could shift expenses around to cut down your spend.

If you’re unsure of where to start, check out this ‘How To Make A Budget’ video by Credit Action.

Get supermarket savvy and save cash!

Food in shopping basket

Do you shop smart?

Ever looked at your supermarket receipt and felt dumbfounded by the amount of money spent on a basket of goods?

Whilst the cost of food has gone up considerably in recent years, you may want to take stock of your spending and ask yourself if you are getting the most bang for your buck when you visit the supermarket.

We found some helpful shopping pointers in The Telegraph’s Finance section, that we thought would be worth sharing:

Five ways to save money on your supermarket shopping

HMRC warns of tax credits email scam

Beware of tax credits email scam

Beware of tax credits email scam

Do you receive tax credits? If so, beware of scam emails from fraudsters who want to get their hands on people’s credit card details and passwords.

The HMRC (HM Revenue & Customs) has warned that around 22,000 so-called ‘phishing emails’ were reported between April and July last year, by people who receive tax credits.

It’s expected this trend will continue during this year’s tax credit renewals period, and the HMRC has stated that they never ask for personal / payment information via email, so any such messages are likely to be fraudulent.

Read the full story on BBC.co.uk.

Finally, the Turn Debt Around blog is back!

The Turn Debt Around blog is back to business as usualIt’s taken us a bit longer than anticipated to get everything set up, but following the closure of our old blogging platform Posterous at the end of April, our shiny, new WordPress blog is finally up and running!

We will continue to post weekly blog updates about money, personal finance, debt, debt solutions and the economy. We also enjoy sharing good money-saving tips and ideas, so watch this space – or subscribe to our blog to make sure you get all our updates!

Please also feel free to ‘Like’ our Facebook page or follow us on Twitter: @turndebtaround

We look forward to staying in touch with you online!