How to survive the credit crunch
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by: David Field
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Word Count: 403
• Review your bank statement, and take note of any unnecessary direct debits. Once you have created a list of the unnecessary direct debits, cancel any thing you are not using any more, for example and magazine subscriptions, or insurance policies that you no longer need.
• Think about your daily spend, and try to cut back on any unnecessary spending during the day, like that daily mooring coffee you have. By taking a packed lunch you could save yourself up to 100 pounds per month.
• Protect your credit rating, because no one else will! Banks are become less likely to lend people money with a less than perfect credit score, for that reason you need to make your credit score as best as it can be.
• Credit cards. If you do not need an extra credit card DO NOT apply for it, only apply for credit which you know you will be accepted for. If you apply for credit and get refused it can have an unpleasant effect to your credit score.
• Credit card switching can be very beneficial, if you find yourself with a credit card which has a high interest rate, look out for a credit card deal which gives you 0% on bank transfers and is also interest free for a year.
• Credit cards that make you money might sound like a myth, but they do exist. Use the money you would normally spend on the interest of a credit card and instead make monthly payments paying off another debt.
• One method you may have already thought of is to re-mortgage your house, while many remortgage offers are lower than normal, due to the situation of the housing market, there are still some good deals to be had. selling with a sitting tenant can also be a beneficial system.
• Energy bills take a large cut of our monthly wages, one method to reduce the amount we spend on energy is to switch suppliers, and the best way to find the cheapest supplier is to use a comparison site.
• The majority of people have one or more types of insurance, and are generally unaware that they are spending well above what they need to be spending, by using a simple comparison site you should be able to find yourself cheaper quotes for all your insurance.
About the Author
This author works with people who are looking at selling with a sitting tenant and who are generally looking to sell and rent back your home. For more information, contact Swift Capital to get an excellent quote today.
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