Surviving the credit crunch

Surviving the Credit Crunch

With the much of the news being about the Credit Crunch and its knock on effects, we have decided to dedicate an entire section with tips and advice on how to get by and Survive the Credit Crunch.

Credit Crunch Tips

If we all stopped going to the cinema, dining out and buying little luxuries, the economy would be in a far worse state thatn it is now, but there is no doubt that we all need to tighten our belts a little. The first thing to do is to create a Budget for your home and be more aware of exactly what is coming in and going out of your bank accounts.

After you have created your own budget you should be able to see if you can afford the odd treat here and there. Know your own financial situation, be clear on what you can and can't afford and make sure other people in your home with access to your bank accounts are aware. Be organised, know your priorities and look after yourself and your family.

If you are faced with Redundancy or feel that you are falling behind on your Mortgage Repayments and could face Repossession, don't just ignore the situation and hope it will go away. Be proactive and know what your options are, it is possible that you won't actually have to act on your options but knowing that they are there should give you peace of mind.

Our whole site is dedicated to saving money, and you should take a look around the site for hints, tips and ideas on how you can save money on your current outgoings. Take a look at our sister site, Prosperous Minds for ideas on ways to make extra money.

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Updated on 16th January, 2009

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