5 ways to avoid debt

Here are our 5 Tips on how to avoid debt: 

1. 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.

2. 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.

3. 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.

4. Spend BELOW your means.  Always assess your affordability to make purchases or take out a loan.

5. 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.