JANUARY can be tight after Christmas, so if you’re worrying about how to pay the bills, here are four budgeting tricks to get back on track. Households overspend by an average of £740 over th…
you have, otherwise you could rack up fees and your credit score will take a hit - but some will be more urgent than others to tackle.These are bills where the consequences of not paying them are greater than with others, though you should still keep up with all your repayments.Then, you'll want to focus on dealing with high-cost debt like credit cards and loans.
"Highest-cost borrowing are the debts on which you’ll have to pay most interest and charges," Sue said. You'll want to clear these quickly, as they'll drain your money making it harder for you to clear other existing debts.Once you've got your list in place, you'll be able to see which outgoings you may be able to cut down on.
"It could be as simple as changing which supermarket you shop at, checking if you’re eligible for a social tariff on your broadband or cancelling unnecessary subscriptions," Sue said.by buying cheap supermarket own-brand products compared to branded items. Social broadband tariffs are available to people on certain benefits, including Universal Credit - they can cut bills by hundreds of pounds a year.