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There are many reasons why you could be facing money problems, but by taking steps to achieve sounder financial management you won't have to worry so much about opening bills or making the minimum payment on your credit card and mortgage each month.

Financial management starts at home [link widoczny dla zalogowanych], and by taking time to work out your personal budget you could be in a better position to set realistic goals and take greater control over your financial future. When calculating your outgoings, you need to consider everything from your mortgage payments to your utility bills, grocery costs, TV and phone packages [link widoczny dla zalogowanych], petrol and any other payments you make weekly or monthly.

If you make payments by direct debit, it should be easy enough to check your bank statements to get a clear overview, but if you have credit cards you need to look over these accounts too.

Once you've assessed your current situation, you will be well positioned to start making changes where they are needed most. This should start with your priority debts, such as your rent or mortgage arrears [link widoczny dla zalogowanych], council tax and fines, before you move on to changing your spending habits and eliminating unnecessary expenditure.

Because your accommodation is likely to be your biggest monthly outgoing, it's vital to ensure you are getting the best deal for your money. If your current mortgage repayments are too high and you're worried about the changing economy making them even steeper in the coming years, a

When looking over your other debts, check the rate of repayment you are currently under and see if you're able to switch to a provider that offers 0% repayments for a fixed period. Even if it's only for an introductory period of several months, that's still several months where you could be making crucial savings. Some credit card providers also operate cashback and bonus schemes that could allow you to offset some of your spending by accruing points that can be redeemed against sales.

Finally, if you're worried that your outgoings are at the same level or exceed the level of your income, you may be in need of creditors. There are many reputable companies offering competitive loans with flexible rates of repayment, who could help you through your financial rough patch.

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