How to: pull yourself from your debt-rut
Trying to balance your finances can be a high-wire act at the best of times, especially the week before pay day.
You’ll live on a diet of tinned goods, mooch a few pints off your pals, cross your fingers that your electricity doesn’t get switched off soon, and look at your bank balance in the same way people witness a horrific crime.
It’s a beg, borrow and steal kind of world, not least when you’re suffering through rubbish wages and long working hours.
But your finances shouldn’t feel precarious as you progress through life. If you make the right kind of choices, there’s no reason why you won’t be rolling in it before pension age.
With that in mind, we’ve come up with a few ways for you to boost your economic chances. They might not be full-proof, but they will be a sturdy helping hand.
Get an education
“We don’t need no education,” sang Pink Floyd, a band ironically using a double negative in a learned fashion. But their viewpoint is shared by huge swathes of the public, the kind of people who are suspicious of experts and argue against plain-old fact.
It’s a good idea to ignore these kinds of people and invest in the qualifications that are perfect for you.
If you’re struggling to make ends meet, then something with a lower price tag than university is a good idea. An online degree can, for example, provide you with a high-class education and not leave you in debt for the rest of your life.
Research every avenue you can travel down educationally and you’ll be a more efficient, better paid member of the workforce.
Listen to the banks
A lot of people don’t trust banks, and it’s easy to see why. These are the people responsible for the 2008 economic meltdown, the people who still take home massive bonuses despite having a malignant attitude to other people’s money, the people who pushed dodgy loans on normal people and helped facilitate the largest depression in recent memory.
But that was a long time ago, now. In the present day, you have to trust the advice of the people who work in your local bank. They can help you make the right investments, give you sound common-sense advice and make you know when you’re going wrong in your payments.
With this tip, we mean banks, not payday loan companies or other Del Boy-alikes in the business. Ask someone fully qualified and you’ll receive sound advice.
These bite-sized tips are only the tip of the iceberg. If you’ve got advice of your own, let us know in the comments below.