Can I get debt advice even if I’m not struggling?
The thing to remember about debt is that any debt can be a risk if it’s not watched carefully. Even if you think you’re managing now, a sudden change in your circumstances could make things a lot more difficult.
That can’t always be avoided, but it makes sense to get some debt advice and make sure you’re dealing with your debts in the best possible way to minimise the risk of problems in the future.
Debt advice for less serious debts
These days, the majority of us carry more than one debt, whether it’s mortgages, credit cards, overdrafts or personal loans. And it’s also true that most of us will manage those debts just fine.
However, to make the most of your finances you should try to make sure you’re repaying those debts in a safe, cost-effective way.
For example, it’s surprising how many people with multiple debts don’t keep to a budget. Even if your financial situation is very comfortable, it’s always worth ensuring you put enough aside for your essential costs before you spend money on non-essentials – just in case something unexpected crops up.
On another note, you could be paying more than necessary for your debts. For example, credit cards have one of the highest average interest rates of any type of credit – yet if you repay your balance on time every time, you’ll never pay any interest at all. It’s well worth getting some debt advice and finding out which kind of credit is most appropriate for you.
Similarly, if you have a number of high-interest debts, you might be able to save money by consolidating them with a debt consolidation loan with a lower rate.
Different approaches will work better or worse for different people, so you should speak to a debt adviser if you have any doubts about how you’re dealing with your debts.
For more information and advice on staying out of debt, contact www.dacscotland.co.uk