ITV Tonight on reducing monthly payments

On January 28, 2010, in News, by Lewis Alexander
  • Did you see the Tonight programme by ITV about reducing monthly outgoings and repayments?
  • Martin was explaining how to save money by cutting back on items in your household expenditure!

Due to rises in fuel prices and the general cost of living, most people are finding it difficult to manage or reduce monthly payments that they have.

There is a point where some people find they cannot cut back any further.

Without the programmes enthusiasm in your front room, how can you implement the same money saving ideas and stick to them. One thing that was mentioned was the “impulse buy”, items bought out of a want, not a need!

  • Fed up of having no money left at the end of the month after paying all the bills?

There are a great number of ways to save money each month and the following are just a few;

  • Change Electricity or Gas supplier
  • Change Internet provider
  • Change Telephone provider
  • Change or reduce TV subscriptions
  • Change Supermarkets
  • Do not make impulse purchases only buy when you need to!
  • Change Clothes Shops
  • Change Petrol Station
  • Change your car
  • Change your Ways!!!

It is okay having this information but acting on it is very hard, sometimes it can take a massive effort as all the changes are a shock to the system.

We say this because when you have to cut back it can seem like a drastic change in lifestyle as you are used to buying luxury items that are not needed, this comes from emotional or impulse purchases, the money you used could have been used to clear other bills but the control is what was lacking.

Once you have impulse purchases under control, changes to your living expenses as mentioned above should start to have a positive impact on your weekly or monthly budget and ongoing expenditure. You should find you are reducing payments and other costs leaving you with more of a disposable income, the money you have left over each month after paying bills and all living costs.

Saving money can start with little things like where you buy your lunch each day or how you make it. Save on holidays, cars, nights out, clothes etc..

Life will seem strange but you will get used to it and then you can start a fresh!

If you have personal debt problems and are struggling to find a way to reduce repayments to credit card and loan companies, you can call our free from a landline personal debt helpline 24 hours a day, 7 days a week.  Call 0800 018 6868 free.

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If you find yourself with a financial problem and have bad credit or are unable to cope with mounting debt problems, then you may want to search the marketplace for information that can help you discover the best solution for reducing or eliminating personal debt.

There are a number of very authoritative internet debt consultants and resources online that offer information for getting out of debt and they could help you with your personal situation.

Be very careful that you do not jump in with the first company that comes along without doing some research about the company, how long has the debt company been in business? Make sure you ring them to see how professional their approach is. After all you want your affairs to be handled on an individual basis and your interests should be of the utmost importance.

Finding the best and highest quality of companies within the Debt Consolidation field will help and ensure your overall plan to reduce your indebtedness over the longterm is fruitful.

Unfortunately, there are a number of debt consolidation agencies, debt negotiators, and debt settlement consultants who will take you for a ride. If you find they are advertising their services saying that they can get your debts eliminated in 10 minutes or less, they are the kind of companies that you want avoid at all costs.

These claims are not justifiable and simply not possible. You need to work with a debt consolidation company that offers you viable and workable individual solutions to eliminate your debt in the medium to long term.

You must realise the real facts that no one can eliminate your debts without a personal Bankruptcy petition. Most debt management resources reduce debts through renegotiations with your creditors.

You will find that some personal debt consultants even claim to be able to “eliminate your interest rates” completely, this is not entirely truthful.

When a debt management company consolidates all of your unsecured debts, they will gather all of your unsecured debt repayments and roll them into one new single repayment, which then reduces your monthly outgoings.

If you aren’t dealing with an honest debt consolidation company or one that has a high reputation in the industry who can negotiate the best solution, there’s a very good possibility that they will also roll those high interest rates into your total debt, which may still reduce your monthly outgoing but unbeknown to you, will cause you to have a larger overall debt level.  Be very careful with this type of tactic.

Therefore, it is important that you ask the company or debt consultant about what it is they can do for you, after you have provided them with sufficient information for them to work out an overall plan.

Educate yourself a little with regard to what interest rates you have been paying on your current debts, so that you are empowered to have the knowledge to make an informed decision.

Above all, be prepared to pay a reasonable fee for the services of a reputable company. There is no such thing as a “free lunch”.  Someone has to pay the people who organise and negotiate on your behalf. Companies that claim that you don’t need to pay them anything are in fact being paid by the creditors and getting fees somewhere in the process. We find that many people would rather agree to pay a set fee and get on with the task of getting back on the right path.

You are advised to have all the proper paperwork regarding your debts organised and if possible obtain a copy of your credit report.

If you are in doubt, do some research of your own, telephone the companies that you have listed and contact them by phone.

Lewis Alexander Financial Management offer a first class personal Debt Management Service, nationwide throughout the UK. We have in house specialists who concentrate on debt management and loan consolidation and we have been looking after a great number of our clients for many years now.

Call the Lewis Alexander personal debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is free.

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