When we buy things on credit, it can be easy to lose track of spending. Unfortunately, if you don’t manage your debt properly, it can lead to missed payment fees, overspending and a reduced credit score. Here are some tips for better debt management and keeping track of what you owe.
It might be daunting adding up all your different debts but avoiding them doesn’t make them go away. Take control of your finances and put steps in place to pay off your debt.
List your debts
Start by working out everything you owe. Create a list showing who you owe money to, how much you owe in total, when you need to make payments and how much you need to pay each time.
Morses Club PLC (LON:MCL) is an established, relationship-driven consumer finance provider offering a range of credit products and delivering exceptional services to customers in the non-standard finance market.