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Tools to help you get out of debt
Financial website Unbiased.co.uk announced this week that as a nation we spent the first 83 days of the year working just to pay the interest on our debts. Personal loan levels increased to 11.4 billion pounds in 2008, up by over 1.6 billion pounds on the previous year and mortgage debt from equity release loans also increased by 6.5 billion pounds. Credit card debt, on the other hand, decreased by just over 4.9 billion pounds.
If you are struggling to pay off your debts, here are some useful online resources to help you out.
You can start by reading our top tips to help you beat debt problems. Budgeting properly is essential and you can use Unbiased.co.uk’s budget calculator to rein in your spending and borrowing and work out how much you will be left with each month to service your debt.
If you feel like you need expert financial advice then Unbiased’s website is the best place to find an independent financial adviser you can trust. You can also talk to the Consumer Credit Counselling Service, a charity which offers free and confidential advice and support to anyone dealing with debt problems.
Cutting back on household bills
The energy regulator has said that it is considering a ban on unjustified price differences in the energy market to address concerns that customers are being charged differing amounts according to their payment methods.
Ofgem also said that it was planning measures that will improve customer service, including simplified information about tariffs to help people decide whether they need to switch supplier.
Web round-up: small changes that save you money
With unemployment on the rise and the cost of living also heading in the wrong direction, the days of profligacy are over and many of us are suddenly starting to look at ways in which we can cut back and save a few extra pennies.
The web is full of information aiming to help you do just that, but wading through it can be confusing and time-consuming. To save you time, here are a few useful articles and online tools we have come across in the last few days.
Bumper profits for oil companies – worth picking a fight?
It is not surprising that many people find it thoroughly irritating to read headlines about oil companies, such as Shell and BP, making bumper profits thanks to high oil prices while consumers pay ever more to heat their homes.
With crude oil prices having fallen to around $70 dollars from more than $147 in July even Chancellor Darling felt compelled today to say the recent drop should be passed on swiftly to the consumer,
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The Wall
