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Teach your children about debt and money

It’s more important than ever to teach children about smart money habits. Children pick up on all of the things that we do so if they’ve seen you dealing with money problems, it’s very likely they will view this as normal behaviour.

If you’ve managed to avoid money troubles, then you’re lucky. Many of us haven’t got this far without borrowing but you do always have to beware of your children picking this up.

Your money habits will teach them, whether they are good or bad, about how to view their finances. It’s important to guide them from an early age, no matter what your situation. Many people choose to talk to their children directly and many choose to show them through their actions, everyone deals with it differently.

Teaching children the value of money will help them in the long run. You can teach them that some borrowing is suitable such as mortgages or university fees. You can, however, highlight that debts like credit cards and store cards are bad debts.

Knowing the difference between good and bad debts can help a child as they get older and banks are trying to persuade them to take out student overdrafts and credit cards. If children know they have to save for things they want from an early age, they will be less likely to use credit cards and loans to buy things that they don’t need immediately.

Take the time to talk to your child about money and teach them smart money habits. You’ll find they pick these tips up more quickly than you think, and it will stand them in good stead for when they start to go off to university and move out of the family home.

As always, we are here to help with any money problems that you may have. Our team can talk you through solutions that are available to you if you are struggling with debt. Call us today on 0141 380 0558.

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How to face your debts and get help

Having to face up to your debt problems can be tough. It’s hard to admit these types of struggles to yourself and it can often be so much easier to brush it under the carpet. But even hiding your debt from yourself, never mind those close to you, can have negative effects on your physical and mental health.

Yes, it’s hard to face up to financial mistakes we have made but a lot of us don’t know that we can get help from various places to get us through our hard times. We can all take steps to ensure that we can get through our debt problems.

Admit what your problem is and talk to someone

Lift the weight off your shoulders, admit what your problem is and talk to someone about it. Telling someone about your money worries will ensure that it doesn’t eat away inside of you. Talking to someone in your life can help but also seek out professional help. It’s important to talk to someone close to you who will be able to give you emotional support but it’s also equally important to talk to professionals who can give you help and advice.

Take action and let us help you

By reaching out to us, you will have taken the first step to becoming debt free. Once you seek out the right help you can start to get your life back. No matter where you are in the UK, we can tell you of the solutions that are available to you.

Look after your own well-being

While you’re sorting out your finances, remember to look after yourself. Our self-care can take a back seat when we’re stressing about debt as we often forget to look after our physical and mental health when we are stressed. Remember to eat well and exercise and also try finding ways to think positively. Even though this can sometimes seem impossible, it will benefit your mental health.

We’ll be here to help you in any way that we can, and our advisors are experts in talking to you about your debt. Call our wonderful team on 0141 380 0588.

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Are you in need of some debt help due to summer spending?

Summer as always went by too quickly and as we jump back into our warm clothes and turn the heating on, we might begin to consider how much money we have spent over the past few months.

Did you stay on budget, save some money or did you, like many others, spend a little too much?

UK spending this year wilted slightly because of the amazing weather that snuck in, but many people still overspent on holiday or heading to the nearest beer garden to enjoy the sunshine. Maybe you bought yourself some well-needed garden furniture or new clothes to deal with the unusually high temperatures. Whatever you spent your money on, you wouldn’t have been alone in overspending.

A survey conducted by peachy.co.uk showed that Brits spend recklessly while they are on holiday and “97% of holidaymakers don’t regret reckless spending on their summer holidays.” This leaves many with debt they are unable to manage when reality sets in back home.

Using credit cards or short-term loans to get through the summer months is what can cause issues for many Brits. When summer is over, and we need to think quickly about how we pay this all back with the festive season starting to creep into our minds, managing our debt can become quite stressful.

If you think you could do with some help and advice on your debts, get in touch with us today. Whether it be overspending on holiday or simply not keeping track of your summer spend, our expert advisors will tell you all of the solutions available to you, so you can pay back your debts at a rate you can afford. Call us today on 0141 380 0588.

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Unsecured debts such as: Credit Cards, Council Tax Arrears, Store Cards, Catalogues, Personal Loans, Bank Overdrafts. Credit Unions, Mortgage Shortfalls, Car Finance, HMRC Bills
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