“Debt can happen to anyone.” We’re helping raise awareness of debt this week. “Prevention is better than cure”, especially when it comes to debt.
Here are our 5 Tips on how to avoid debt:
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Plan ahead for big purchases and life changes which you know are going to impact on you financially in the future. Start saving a little extra each month now to get ready.
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Avoid credit card surfing. Only use a zero or low interest credit card if you know you can pay off the balance before any interest increases.
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Start an emergency fund now, ideally setting up an account you won’t access on a daily basis. Credit Union accounts are perfect for this.
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Spend BELOW your means. Always assess your affordability to make purchases or take out a loan.
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Monitor your spending by tracking all your expenses monthly. This way you’ll easily determine what you can afford.
“Save regularly and borrow only what you need.”
Email creditunion@harpandcrown.co.uk or phone 028 9068 5198.
The Harp and Crown Credit Union provides safe, secure, flexible finances for the wider police family in Northern Ireland.
