It is easy to get into debt at any age. Hard advertising, special offers, sales and finance deals in shops can influence us all into buying things that perhaps we do not need.
Being in debt may lead to many other problems too. It can affect your health and you may experience feelings of anger, guilt, stress and fear. Your relationships may also suffer as you become more and more stressed.
For those who go on to higher education, getting into debt is also an issue. Taking a part-time job may help some of your financial problems but getting the balance between work and study is vital.
What to do if you are in debt
- Get help - your local Citizens Advice Bureau offers free and confidential advice. They will be able to help you begin to budget and look at ways to manage your money
- Take stock of your situation - make a list of your outgoings (what you spend) and your income (the money you receive in wages, benefits etc). Be honest - this won't work if you are not absolutely truthful about what you are spending. See if there are any ways you can reduce your spending
- Don't panic and try and borrow more money. Get advice - there are other ways to manage your debt
- Talk to the people you owe money to - they may be prepared to accept lower payments if you are honest about your situation
Check out the contacts listed here for help, advice and information.
