If you’ve been spending more than you should and are juggling two or more types of borrowing – such as credit cards, store cards, personal loans or overdrafts – it’s a good idea to get things back under control before you get into debt.
The first step is making a note of the interest you’re paying on your credit, store cards or personal loans so you know which is the most expensive.
Then take control of your money by working out your living costs and making a budget – so you know what’s coming in, what’s going out, and when. This will give you a clear picture of where your money goes and shows you where you might have a chance to save money.
If you’re worried about missing payments, set up a regular Direct Debit or standing order to make sure you keep on track.
It’s important to understand which bill payments to prioritise. Use our Bill prioritiser to help manage your payments.