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Debt
Worried about money? In debt and not sure what to do? Then read on for advice and information on where to go for help.
Not having enough money is one of the biggest worries young people face.
Not being able to buy all the things you want or need can be difficult / annoying / frustrating. Trying to make ends meet on a low income or benefits can be hard.
Getting into debt is easy at any age. Hard advertising, special offers, sales and finance deals in shops can influence us all into buying things that perhaps we do not need.
Being in debt may lead to many other problems too - it can affect your health , you may experience feelings of anger, guilt, stress, fear and your relationships may also suffer as you become more and more stressed.
For those who go on to higher education, debt is an increasing problem. Taking a part time job may help some of your financial problems but getting the balance between work and study is vital.
What to do if you are in debt
- Get help - your local Citizens Advice Bureau offers free and confidential advice. They will be able to help you begin to budget and look at ways to manage your money.
- Take stock of your situation - make a list of your outgoings (what you spend) and your income (the money you receive in wages, benefits etc). Be honest - this won't work if you are not absolutely truthful about what you are spending. See if there are any ways you can reduce your spending.
- Don't panic and try and borrow more money. Get advice - there are other ways to manage your debt.
- Talk to the people you owe money to - they may be prepared to accept lower payments if you are honest about your situation.
Check out the contacts listed here for help, advice and information.
Your local Citizens Advice Bureau will help people of all ages. They are non - judgemental and offer free advice. You can contact them by phone or email as well as in person at their offices.
With thanks to Fenland CAB for help in writing this information.
