How to keep control of debt and make it work for you

By: Alex Hartley Nov 04, 2015 How to keep control of debt and make it work for you Debt is something that a large proportion of people in the UK live with. The Money Charity has predicted that by 2020 adults will each owe an average of £47,000 and with factors such as rising house prices pushing up the size of mortgages it’s unlikely that we will be a debt free nation any time soon. Debt is often viewed as a negative but if you have borrowed for a constructive reason then in that sense debt can be a stepping stone to better things. With that outcome in mind how should you manage your debt to make sure that it works for you? Keep track Knowledge is power and that’s particularly the case when it comes to what you owe. You need to keep a record of outstanding amounts, interest rates and payment dates so that you are not making decisions in the rest of your life based on a lack of information or on the wrong information. Create a spreadsheet, make notes or use an app – just be awar
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