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When you embark on a debt repayment journey, the goal of being debt free may seem pretty far away at first. Months, or maybe even years from now. This is why I would like to share a few ideas to help you get rid of your debt faster. Throw your extra cash at your debt By making the minimum payment only on your cards and loans, you are taking the longest time to repay your debt. You may think that overpaying by £10 or £15 a month is not worth the effort, but on the contrary, it definitely is. To...

You may be the victim of debt fatigue, where you are making minimum payments on your debt and are tempted to give up because it is such a long and tedious process. It feels like you will never see the end of it. So today we will talk about two concepts that may help you keep your eyes on the ultimate goal of debt freedom: the Debt Snowball and Debt Avalanche strategies. These two methods are ways to help you build momentum and pay off your debt faster.   The Debt Snowball The Debt Snowball is the most simplistic concept...

Sometimes, paying off debt becomes boring – tedious even. You just want it to stop, but you can’t seem to see the end of it. In order to help you achieve debt freedom faster, let’s talk about a few challenges you could try for yourself in order to save money.   Have a no spend weekend This one is pretty self-explanatory: spend nothing from Friday night until Monday morning. However, the idea is not to go get the Thai take out for Friday night at noon on Friday so “it doesn’t count”. No. Instead, try to look for some forgotten...

While winter continues, households are wrestling with costly energy bills that would send a shiver down anyone’s spine. It’s tempting to turn off the heating altogether, but you don’t have to resort to extreme measures to save money – taking some simple precautions, investing in some energy saving devices and looking again at your tariff can all make a difference. Here are ten simple energy saving tips to cut the cost of utility bills today. 1. It’s pointless to have the central heating blasting away when nobody is at home. Make sure your timer only switches itself on when you...

How To Save Money on Big Expenses When people start trying to save money out of their daily budget, they often talk about couponing, or cutting down on buying cigarettes or alcohol. This is great, but it will only help you save so much. Couponing may get you £0.50 off toothpaste, and not buying that bottle of wine will save you £7, but big savings are in big items.   Save money on housing Housing expenses are the biggest expenses in most households’ budgets. Saving money on housing can take several shapes: Refinancing your mortgage. Getting a lower interest rate...

Ever since I was a teenager I was always on the lookout for ways to make extra money. I baby-sat my cousins, taught the piano, tutored younger kids at my school… the list goes on. What I love about extra income is that there is always an endeavour that can work around your schedule, whether you are a student or a full time worker. At the moment, I have three blogs that generate extra income every month, but those took a long time to build up, so today I will focus on ways you can earn extra money right now....