April’s top debt and money news stories

posted by Rory in Bankruptcy, Debt, Debt advice in Scotland, Debt companies, Debt Law, Payday Loans Leave a comment

Know your rights

April 2015 debt news

As the new tax year begins, we’ve seen the introduction of large-scale pension changes that have a wide-ranging impact for many people, including our clients.

April has also seen the introduction of a new type of debt solution in Scotland to help people with lower incomes who are struggling with their debts. In other news, caps on hefty bills caused by unauthorised calls are set to be limited by mobile phone companies and the UK’s largest payday loan company Wonga has announced a significant profit loss and is considering a change of name.

And finally, find out how one restaurant owner’s act of kindness went viral on social media!

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Are you being mindful with your money?

posted by Jo at Mental Health Foundation in Mental Health Awareness Week, Wellbeing Leave a comment

For this year’s Mental Health Awareness Week, we’re re-launching Debt in Mind, our page dedicated to the link between debt and mental health, as well as information on how to deal with both. This year, our friends at Mental Health Foundation (MHF) will be talking about mindfulness and the various benefits it can have on a person’s life. Visit the re-launched Debt in Mind section from mid-May.

You may have heard about mindfulness. Perhaps you think it means sitting cross-legged on the floor and meditating. Maybe you think it means to simply concentrate on your breathing.

You may have even heard that it means to focus on your bodily sensations. Mindfulness is all of those things, and so much more.

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DIY on a budget No.4 | Cheap and cheerful ways to decorate your bedroom

posted by StepChange MoneyAware in Debt, Money maximising Leave a comment

In this series of blogposts I’m looking at ways to decorate your house on a budget.  I’ve combed the web for ways to brighten up your home without lightening your purse.

We’ve already looked at cheap ways to revive your living room, revamp your kids’ room, and brighten up your kitchen. Now I’m setting my sights on your bedroom. That sounded creepier than I meant it to.

As someone who lives in a rented house, I’m always on the look-out for ways to make it more my own. When I moved in, the only personality my bedroom had was where the landlord had shoddily covered up splodges on the magnolia walls with white paint! As I could lose my deposit if I make any alterations to the property, such as drilling stuff into walls, anything I do to personalise my bedroom has to be temporary.

This blogpost is full of ideas for small changes you can make to your bedroom, which cause minimal destruction and make your room feel more homely too!

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10 clothing tips that’ll save you money

posted by Jenny in Budgeting, Money saving Leave a comment

We all wear clothes. That’s something we pretty much have to do. Unfortunately though, clothes don’t last forever; fabrics will wear and sizes will change. What’s more, occasions may occur and job interviews pop up unexpectedly. All with one underlying theme: “I need something to wear!”

The trouble is, when you’re on a budget, buying new clothes might be the last thing on your mind. We already know there are ways to make clothes shopping cheaper, but how can we make sure the clothes we buy are actually going to last? And how can we prolong the life of clothes we already own?

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101 ways to save money

posted by Money Advice Service in Money maximising, Money saving Leave a comment

Just like any adventure, committing to living frugally can come with its pitfalls. When it comes to budgeting and taking care of debts, sometimes it’s not so much about making more money as it is about saving the money you already have.

The tricky part is knowing where to start! What savings can we make right now that could make a lasting difference?

Turns out it might be easier than you think!

Here are 101 hacks to save you pennies in six categories, compiled from various sources around the web including the Money Advice Service. If you’re looking for a way to keep the pounds in your pockets, this is a good place to start!

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“It completely destroyed my life”: James’ story

posted by StepChange MoneyAware in Client stories, Credit cards, Income shocks, Payday Loans Leave a comment

Lots of people use credit in their day-to-day lives, and because they’re keeping up with the payments, trouble never seems like it’s round the corner. But that’s the thing about credit – it’s not a problem, until one day it is.

James* from Bristol had always stayed on top of his debts. He had a credit card with a small credit limit, and a car loan, which he regularly made payments towards. But things changed quickly when James developed a back problem which meant he was signed off work for months at a time. When his period of sick pay ran out, he started to receive Statutory Sick Pay.

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“I was running out of money, so was relying on credit cards”: Rosie’s story

posted by StepChange MoneyAware in Client stories, Statistics Yearbook Leave a comment

With 10% of our clients stating separation or divorce as the reason for getting into debt, it’s the fifth most common cause of financial problems that we see.

This is the situation Rosie* from Leicestershire found herself in when she separated from her partner three years ago.

Already struggling to meet payments to credit cards, she had to rent a property for herself and her daughter to live in. Rosie found it difficult to pay the letting agent’s fees and furnish the home, and soon found her financial situation spiralling further out of control.

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