xcuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your

Your financial life is a constant push-pull of income and expenditure. It’s basic economics that if your outgoings exceed your income you’ll start descending into debt or eating away at your savings; but if you spend less than you earn, you’ll either come out of debt or add to your savings. Of course, it’s not that simple. Some of what you spend your money on will be valuable assets and some will be liabilities, but as a general rule, the greater the difference between your income and your expenditure is, the faster you’ll move – one way or the other.

It’s funny, then, that given the simplicity of the equation, millions of us are quite happy to pay more than we need to on loans, credit cards, store cards and hire purchase agreements. In a way, it’s like cheerfully accepting a pay cut from your boss – something that would never put a smile on your face. No doubt there’s some strange psychological reason for ignoring spiralling debts, but if you think about it in terms of plain income and outgoings, there can be no excuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your

of debt or add to your savings. Of course, it’s not that simple. Some of what you spend your money on will be valuable assets and some will be liabilities, but as a general rule, the greater the difference between your income and your expenditure is, the faster you’ll move – one way or the other.

It’s funny, then, that given the simplicity of the equation, millions of us are quite happy to pay more than we need to on loans, credit cards, store cards and hire purchase agreements. In a way, it’s like cheerfully accepting a pay cut from your boss – something that would never put a smile on your face. No doubt there’s some strange psychological reason for ignoring spiralling debts, but if you think about it in terms of plain income and outgoings, there can be no excuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your

ter you’ll move – one way or the other.

It’s funny, then, that given the simplicity of the equation, millions of us are quite happy to pay more than we need to on loans, credit cards, store cards and hire purchase agreements. In a way, it’s like cheerfully accepting a pay cut from your boss – something that would never put a smile on your face. No doubt there’s some strange psychological reason for ignoring spiralling debts, but if you think about it in terms of plain income and outgoings, there can be no excuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your

lly accepting a pay cut from your boss – something that would never put a smile on your face. No doubt there’s some strange psychological reason for ignoring spiralling debts, but if you think about it in terms of plain income and outgoings, there can be no excuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your

xcuse for letting your debts steer your finances further in the negative direction.

So we’ve established that increasing your expenditure is the same as reducing your income. So what can you do about it? Well, one clever thing you can do is reduce your outgoings by consolidating your high-interest cards and loans into one lower-interest loan. You won’t be writing off your debts, but you’ll be drastically reducing your wasted cash, and that could mean either moving you out of the red and into the black or giving your savings a boost.

Most high street banks are offering consolidation loans, and there are several companies advertising them on the TV. But if you have access to the internet, you can save even more money if you have a snoop around for some great deals. You can even visit websites whose sole purpose is to compare consolidation loans so that you can be sure you’re paying the absolute minimum rates.

You only earn so much cash over your lifetime. How comfortable you are in the long term depends on how well you manage your outgoings. A consolidation loan is a great way to clear debts and boost your savings.