Newbie

Are you in the situation where you’re spending more than you earn? Are you finding yourself increasingly dependent on credit cards or an overdraft to get by each month? If so, it’s time to work out where you can cut back to get your finances under control.

If you haven’t done so already you should think about creating a budget and you can find out more about the budgeting basics here .

Follow these ten top tips to help you to reduce monthly costs and feel happier about your money:

Is debt good or bad?

Most people will have some form of debt to manage their finances effectively and the key to a good relationship with debt is understanding which things are worth getting into debt for (good debt), whilst avoiding debt that has the potential to cause financial misery for you in the future (bad debt).