AD. Roll back 5 years to when I first started this blog, and I was in debt. We had, I think, around £7,000 of debt, and this was a huge amount compared to our available cash by the time we paid our bills and bought food. It felt like a never-ending vicious circle as items broke in our home and wear & tear took hold on our possessions. We have now been debt-free for a few years and today I want to share some of my debt busting tips with you. You can pick and choose which of my debt busting tips to use but I’m confident that each of these tips will help you on your debt-free journey. This post has been produced in association with the Money Advice Service.
AD. Free debt advisors PayPlan help more than 80,000 people each year with free advice on long term debt solutions. Payplan have released new statistics based on data taken from customers who used their free service in 2015. They have also released a brand new tool that helps you to diagnose your debt with Payplan.
I have been shocked by some of the statistics that Payplan have released. For example, Essex, where I live, has the highest debt levels per person, in the UK, using the Payplan service. The average customer in Essex had £18,508 of debt in 2015. Our personal level of debt has never been this high, however, from speaking to friends it turns out we know several people with similar levels of debt. The average debt in the UK is £16,753 which in itself is much higher than I would have thought.