How to Spring Clean your Finances in 2013

Spring isn’t just the season for cleaning out your cupboards, it’s also a great time to dust off your credit card statements and deal with your debts.

Here is a simple guide to ditching debt in 2013.

Create a Checklist
Dealing with debt can be daunting but if you have specific steps in place the process becomes simpler. Note down the different types of debt you have starting with the biggest. Once you are aware of the total amount of debt you have and have made a note of the money coming in and going out of your account, you can start to put a debt management plan in place.

Monitor your Money
If you want to successfully cut back on your spending, it is essential to start monitoring your money over the course of the coming months. Make a note of everything you spend and this will help you identify the areas that you can cut down on in the future.

 
Discover your Options
Are you dealing with your debt efficiently or simply burying your head in the sand? Simply paying the minimum payments on your credit card debt can draw out the debt process and it will take you longer to clear the balance. If you want to make a dent in your debt, go online to discover your options. Knowledge is power and if you want to pay your debt off in the shortest time possible, it pays to know the options available to you. Switching to a provider with lower interest rates via a balance transfer is just one option that could work for you.

Boost your Income
If you want to pay off your debt quicker, why not find ways to increase your income? Clear out the clutter and sell your unwanted goods to raise cash to pay off your debt. Sell the clothes you never wear, get a second job or take in a lodger.

Talk to a Property Buying Company
If you are in a large amount of debt and want to free up some of the cash that is tied up in your home, a property buying company could help. In many cases they can offer you a cash lump sum that could pay off your debt. NPT can offer you a quick sale should you wish to sell your home and demolish debt in 2013.