Friday, July 6, 2012

The debt-avoiding options in modern life: what can you do?

This is a guest post from Scott, a freelancer who writes on the topic of money saving and technology.

The double-dip recession has made it a troublesome time for tens of thousands of people up and down the country, and it's not letting up on many of them - even now. As unemployment is at an all-time low, and with utility prices climbing each day, now's the time to take control of your finances and avoid the possibility of falling into debt. Luckily, with new options in business and technology, there are a few good ways to keep yourself on top of your cashflow.

Online budgeting tools

It may be a simple way to start your quest to lower your debt or outgoings, but these budgeting tools will balance and itemise incoming money and all of your spending habits, so you can move forward with confidence knowing that your accurate balance sheet will decide how much disposable cash you have to spend. Starting with necessities like utility bills, food shopping and accommodation costs, don't forget to include other things you may overlook like mobile phone charges and online subscriptions. Every penny counts! Money Saving Expert has a great guide to budgeting to get you started.

Understand modern property buying companies

While it's not a choice that many people want to take, a lot of individuals find that they need to reassess their living situation. After all, people have a lot of money tied up in their housing arrangement, yet the financial burdens of owning a house in disrepair - or simply one afflicted with mounting bills - can often be the cause of debt in the first place. While the rental market is a profitable venture, getting a buy-to-let mortgage is difficult, while you also have to adapt a home to lettings laws. Consider using a company, like Tom Craven, that specialises in quick home sales, giving you the financial freedom to get back on the housing ladder with something smaller.

The little things

There are loads of smaller gadgets that you should never overlook, should you want to save yourself some money in the long-term. Dongles, for example, may save you loads of cash on internet costs - with some, you don't even have to sign up for a long-term contract. Rechargeable batteries are cheap, and will likely last longer than most good brands' offerings anyway. Special shower heads lower the amount of water you use, while smart plugs cut electricity to devices not in use. They may cost a little up front, but they will save you plenty in the long term.

In what way do you find technology helps you save money? I find the biggest way technology helps me save money is via the blogs I read for frugal tips, as well as Wikihow for DIY things. What about you?

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