If you work 8 hours a day for ?10 (which is about average in the U.K I think) you'd make ?80, minus tax and national insurance you'll be left with about ?70 then theres the petrol to get to work and of course car insurance.



If your with the most expensive gas supplier for your area, the most expensive electricity supplier for your area and you have a big old credit card balance at 18% your probably paying out a days wages in unnecessary expenses

every month.

Have a look see if you could change over to a 0% Credit card rate or consolidate all your debts into one payment.

As nearly every has a flexible friend thats costing them Money heres a guide to help clear your credit card balance.

Switching to a better credit card deal

Find a credit card with a better rate than you're paying now. A lot of banks and credit card providers have 0% introductory periods on their cards periods when you won't pay any interest on your credit card balance for up to a year.

While making payments on a 0% deal you will be chipping away at the capital rather than just interest and clear the debt quicker. The rate will rise after the offer expires.



stop spending on the card

This should be step one really but stop using the card for purchases. If you keep using it, clearing your debt will be more difficult. Don't chop the card up unless you have money for emergencies.

Use your savings to pay off your credit card

A common mistake is to carry debt on the credit card while stashing money away in a savings account. Unless you have a 0% card, this is the wrong way to handle your card debt. Even the best savings accounts don't pay much more than 5% and a typical credit card APR is nearer 15%. So take the money from your savings and clear your credit card debt.

Pay more than the minimum each month

You need to pay more than the minimum payment amount every month. Even small, seemingly harmless debts can grow out of control.

As an example a credit card balance of ?1,500, if you only ever paid the minimum monthly payment usually 2% of your outstanding balance, the bill will take more than 30 years to clear and cost you thousands of pounds in interest. Also important is to pay your card bills on time or a penalty charge will be added onto the total, increasing your debt interested will be added to these charges.

See this info

href="http://financial-independence.net/reclaiming-bank-charges-also-works-credit-cards">Reclaiming

bank charges

Good luck clearing your credit card debt