Beat the Credit Crunch. Ways to reduce you household bills

Beat the Credit Crunch

Beat the Credit Crunch. Ways to reduce you household bills

Beat the Credit Crunch. Ways to reduce you household bills.

As we all know the credit crunch reared its ugly head at one of the worst times, just before Christmas. January and February are always the tightest on our pockets normally, as many people are recovering from an expensive holiday season. Prepare for next Christmas now and ease the financial stress for next year. Make a small investment on a magic diary'. It is a magic diary, which could save you hundreds of pounds or more over the next several months. Without realizing our true spending habits for what they are, it is normal for us Brits to buy things out of habit, comfort and with the excuse 'I want that' .Once it's bought, we hardly pay attention to it, ask if we actually needed it or even use everything we've bought. Ask yourself this, how much food do you think you throw away every week and every month and if you went out now to buy everything you have thrown away over the last month, how much would it cost you now?

Every time you spend money, no matter what it is for, write what it is you bought or paid for and the exact cost in your little book, with the date you bought the item on. It doesn't matter how small the amount you've spent, it all adds up in the end. Also make notes at the back of the book of all the things you have paid for and had to or decided to throw it away. This may sound time consuming but it isn't really when you think of the money you could be saving, you never know, but if you note the time actually spent doing this combined with the suprising amount of money you will be saving, it could actually work out really beneficial to you. Everyone knows that this credit crunch is a world wide problem but stay smart and you may come out from this global situation better than before.

Think about everything before you buy anything, think about whether what you're buying is an 'I need it' or an 'I want it' item and stay honest with yourself and you'll save on a high percentage of your income immediately.

If your an individual who buys gift and other things to 'Keep up with the Jones's' THEN STOP. The keeping up with the Jones's now involves a new angle and that's talking and living the credit crunch, while it lasts. When the pound became weak and the euro dropped in December 2008, people all over the U.K. panicked even more, worried about long term investments etc. If you can afford to hold on to any properties abroad you may own, even if things are tight financially, then hold on as things will be on the up at the latest within a few years and as inflation reduces your investments may have a significant increase.

If you find yourself in debt there may be a way out. . If you have credit agreements taken out before April 2007 there is a new unenforceable credit agreement claim which is becoming more and more known about here in the UK. It is possible to have your credit finance agreements agreements such as credit cards, store cards, secured and unsecured loans, car finance agreements, and those with payment protection insurance (PPI) audited'. They may not comply with the terms of the 1974 Consumer Credit Act and if they do not they are unenforceable credit agreements. This means you can claim to have them written off. That is the balance completely cleared. For a fee of 295 which is refunded if your credit agreement is found to be enforceable, a solicitor with handle your claim. This is on a no-win-no-fee basis so it is risk free. Many people like me, have found this to be the perfect solution to their debt problems.

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