People with debt problems should budget to make pay packets go further
People with debt problems should budget to make pay packets go further
- Wednesday, 2 March 2011Brits, including those currently seeking
debt help, have been urged to budget to make their money stretch further.
Such is the advice of Ed Bowsher, head of consumer finance at lovemoney.co.uk, which is an everyday money site.
He said: "The secret to stretching your pay packet is budgeting. If you monitor what you spend, and plan your future spending with real care, your spending should fall."
Other ways in which people with
debt problems could make more money to pay off their
debt solutions is by renting out a spare room.
Mr Bowsher added that renting a room out is a great way to make some money, especially as no tax has to be paid on rental income up to £4,250 a year.
He made these suggestions after the Resolution Foundation analysed official government figures and found that average pay is set to be no higher in 2015 than it was in 2003, despite inflation increasing.
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