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Recession busting tips on Investment, Saving and Debt

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Does the Uk have a Saving, Investment or Debt culture.

Up until six months ago the British public was classed as a nation of spenders. Just as the UK public borrowing has rocketed to unprecidented levels , much of the population have spent, maxed out their credit cards and borrowed against the equity in their home.

An increasing number of people are now in negative equity with little or no savings, and wondering what the future holds. To find out how to beat the recession keep reading.

Contents at a Glance

Review your income and expenditure
Find ways to pay less tax
Reduce your burden of debt
If your debts are getting on top of you.
Always think about saving money
More information about Investment,Saving...

Cut costs where you can

Reviewing your income and expenditure will help you to identify your spending habits. Try to finds areas where you can cut costs such and gas, electricity, mortgage payments and bills.

Also take time to review any non essential spending and see if there are ways to reduce your expenditure.

Find ways to pay less tax

Why give more money to the taxman

Nobody likes to pay money to the taxman, but you would be suprised how many people do not take advantage of the tax breaks available. You should consider making pension contributions and if you have savings that are taxed consider individual savings accounts.

Reduce your burden of debt

Set up a repayment schedule

If you have debts such as credit cards, personal loans or hire purchase, work our which debt is being charged the highest rate of interest.

Work out a repayment schedule to pay off the most expensive debt first.

Hopefully you'll soon find that your debts will become more manageable.

If your debts are getting on top of you.

Don't be afraid to talk to an adviser.

If you find the burden of debt difficult to manage, always talk to an adviser.

Many organistions such as the Citizens Advice Bureau, Debt Counselling Services and Financial Advisers are able to offer advice and Debt Counselling.

Don't be afraid to speak to the organistions that you owe money to. They might be more receptive than you think and could offer some solutions you might not have considered.

Always think about saving money

But don't take it to the extreme

I find that asking myself " Do I really need to buy this" or "Can I save money" help to focus the mind.

We are all guilty of buying something and feeling we should not have done so.

Even if you make one less purchase a week it could make a difference.

More information about Investment,Savings and Debt

If you would like to know more about our servicesw and how we can possibly help you please ffel free to visit our website Consilium Asset Management

The opinions expressed here are general, and are not intended to constitute advice for any individual. For best financial advice, speak directly to a qualified financial adviser to discuss your own unique circumstances.

Consilium Asset Management is Authorised and Regulated by the Financial Services Authority.