1 - Check whether you’re entitled to any additional benefits such as Jobseeker’s Allowance, Maternity Benefit, Income Support or Working Family Tax Credit.

2 - Check whether you’re entitled to any help with rent or Council Tax.

3 - Reduce electricity bills by not leaving appliances on standby. Switch off lights when not in use. Lower the thermostats on radiators to reduce heating costs.
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4 - If you are unemployed or unable to work through illness check if you have payment protection insurance on your mortgage, loans or credit cards; you may be able to have your payments made for you.

5 - Supermarkets’ own brands can often be just as good as the well-known brands but cheaper.

6 - Shop once a week and plan your food. Preparing packed lunches could save around £50.00 per month. Freeze left-over food and re-use.

7 - Cut down on eating out and take-aways.

8 - Drive a small economical car and save on insurance, tax and fuel.

9 - Instead of using the car for short journeys, consider walking, using a bike or public transport. This will save a surprising amount of money while also improving your fitness and health.

10 - Use your local library for books, CDs, DVDs and videos.

11 - Enjoy family activities that don’t cost money. Many museums, galleries and parks are free and make great days out.

12 - Don’t browse around shops and stores; make a shopping list and stick to it.

13 - Try to cut down on cigarettes or, if you can, give them up completely.

14 - Sell unwanted items in the local classifieds or on the Internet - many newspapers offer free advertisements.
15 - Cut down on nights out and drink alcohol in moderation.

16 - Look how to gain study grants. You may be able to study part time to improve your prospects while you work.

17 - Research childcare in your area. There may be council/church-run nurseries and sometimes grants are available. Use family whenever possible for baby-sitting.

18 - Check for work opportunities closer to home. Consider the additional costs of your job e.g. childcare, travel time and expense.

19 - Reduce monthly subscriptions to mobile phones, Internet and satellite television.

20 - Take holidays at off-peak times and choose less expensive packages e.g. self catering.

Really nice information you have given here. This will really help needy people related to it.
Keep it up All the best.

If you have any other information related to it then please provide it here.

Hey Now a days in the downfall of economical situation it is going very tough to manage the earnings and the debt if anybody have. But u have provided very good and useful information over here. If possible then do not take any loans and if anybody has already in debt then there are so many debt management companies of which they can take their advice.

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Thanks for sharing nice and helpful information. It is really helpful for everyone.

Modern debt management is more than just paying your debts. Personal debt management is walking the fine line that ensures you have credit available the next time you need it! In fact, the best tip to manage debt is to begin debt management before you become a borrower.

1. Track your money. Know how much you have and how much income you can reasonably expect in the near future. Know what your monthly expenses are and what you have left to pay creditors.

2. Save before you borrow. The best time to charge is when you really could pay cash. Although that’s not always possible, it is possible to build a money reserve that can cover several months’ expenses if you run into financial problems.

3. Investigate before you borrow. Look at borrowing as “buying money”. Comparison shop to find the best money bargain available whether you’re shopping for money through a bank, a finance company, or applying for a new credit card.

4. Beware of the large print! Nothing down, no-interest or low interest may look attractive but such offers frequently are filled with fees and penalties that can turn ugly if you get in a pinch. Always read the fine print!

5. Have a personal debt management plan in place to pay back before you borrow. The easiest way to lose control of your money is to let your lender make the decisions about your monthly payments. This is especially true for credit card debt.
* Keep records of credit card purchases, what you bought, the date of your purchase, and a plan to pay for the item(s).
* Although you are required to make a monthly minimum payment, set a goal for paying major credit card debts (i.e. appliances) within a specific time frame like three to six months.
* Pay up small credit card purchases monthly. Sale items are no longer bargains when interest accrues to the sale price.
* Tack on interest charges and credit card fees in addition to your principal payment. For example: You’ve budgeted £100.00 a month in payment for a new TV. The interest and fees on your credit card statement total £24.19. Your total payment = £124.19. That way you won’t be paying interest on accrued interest.

6. Prioritize your debts.

7. Know your rights as a debtor

8. Check with the experts. The Internet, television, and print media are full of debt management tips and expert advice about managing debt, and acquiring wealth. Magazines like “Smart Money” aren’t just for the rich; they’re for those who want to learn to make smart money decisions. A couple of books worth browsing (and buying) are “Slash Your Debt” by Gerri Detweiler and “How to Get Out of Debt, Stay Out of Debt, and Live Prosperously” by Jerrold Mundis. However do be cautious when taking the advice of others:

* Just because someone has written a book, an article, or has a debt-related web site doesn’t mean they are an expert on personal debt management. Do “comparison shop” for debt management advice with the same care you shop for money to borrow. Find several opinions that match up with the opinions of others.
* Debt management advice isn’t written in stone. Modify personal debt management tips and advice to work with your budget and your situation.