What a mouthful for a title, but I think it sums up how most people feel when it comes to debt, especially family debt but without the screaming, jumping up and down and swearing like a trooper.ย  Those can be added in afterwards ๐Ÿ™‚

My name is Graham and I run a Debt Collection Firm, but today is not about that, today is about you, what advice can I give you, how can I help you not drown in debt because of all your commitments.

Today, no matter what day it is, can be very difficult. Just waking up can be a drain when you’re in a financial predicament so I thought how can I help without being patronising or being obvious? Although what is obvious to you may not be obvious to others, so bear with me.

Today’s fast paced society does not help……

“Everything is now, if not now, why not now?”ย  Because we have got so used to having everything now, so that in some cases we never actually appreciate what we have already. Then we buy something thinking it will be useful and we use it once and put it in the cupboard and forget about it until we clear out the cupboard!!

AND then we open the huge doorway to shops via our tablet/phone and ALL HELL BREAKS LOOSE!! Let’s stick it on the credit card, pay for it later…no worries.

Today’s society is tough, economically tough. Salaries are down, everything is going up.ย  Some companies are already making excuses why prices have to go up….they call it BREXIT – it’s crap but it has already started, ย and we’re getting hammered by constant adverts telling us WE NEED this, or WE NEED that.

If I could ever give just one piece of advice whether you are running a business or running a family, it would be this – because I have made the same mistakes and learnt the hard way!!


Easier said than done – but if necessary, stick the saying on your desktop, on the fridge or on the back of your iphone/iPad…..just as a little reminder.

Whatever it is, most likely it will be available the next day AND don’t fall in to the trap and kid yourself it won’t be.

Go on don’t waste any time, make a note of itย NOW!

I think before we go in any deeper about debt and its consequences let’s talk about the Means Test.

For those who don’t know what a Means Test is, it’s basically ALL of your financial commitments going out of the home, in business it’s your Cash Flow, and what you have coming in to the home as far as wages and other income.

ย OK, the above is what is known as a Means Test – this is a very basic one with a guide to what would go in a test like this, of course this will not be accurate for you and your family but it does give you an idea and believe me it will help you control your finances.

In this test you can see that the family are financially ok by dividing the larger number with the smaller one, this will give you a reasonably accurate assessment of your finances, either POSITIVE or NEGATIVE.

BUT you MUST be honest!! You will only cheat yourself and that is pointless.

Now if you are in the negative, you need to make some changes and it doesn’t have to big to start with, but you need to make them.

It could be a cheaper mobile or instead of a contract move to “Pay as you go” or get rid of the land line.ย  Try and reduce your gas and electricity bill and get the family to get in to the habit of switching the lights off.

Every little reduction will help.

OK, that is it for now but I will be back and we’ll talk about your Personal Credit File, how to manage debts without screwing yourself up or going Bankrupt!!

Until then, I hope what I have passed you will help, and if you have any positive comments please let me know and I will reply back.


All the very best