Advice from the CAB in Rickmansworth

Tips to help stay in the black

1.  Plan Early
Be realistic and budget accordingly.  Ensure your income always exceeds your expenditure each month, unless you have budgeted how to repay the difference, for  example at Christmas.
2. Don’t forget the everyday bills
Rent, mortgage and utility bills must be factored in to your budget, as the consequences can be very severe – being cut off from gas and electricity or even ultimately losing your home.
3. Keep things simple
If you can afford to pay for your goods outright by cash, cheque or debit card.  Don’t  be persuaded to take out extended credit agreements unless they really work out cheaper.
4. Shop around
Try as many different places as possible to find the best price.  Don’t forget price comparison sites for insurance and energy bills, to check for the best deal.  Be wary of extended warranties; the cost of a repair could be less than the cost of the warranty.
5. Buy safe to be safe
Whatever the deal, whatever the temptation, don’t buy from unauthorised traders and don’t borrow from unauthorised lenders.  The initial savings and convenience may prove a false economy.
6. Don’t bank on an overdraft
If you do need more money, don’t just run up an overdraft without talking to your bank first.  It will work out much more expensive.
7. Do your own credit checks
If you are going to use a credit card, shop around and compare terms.  Some cards charge high interest rates, but provide free periods or discounts.  Budget for all these costs, and put the payment dates in your diary.
8. Read the small print
Check for hidden extras in any credit agreement.  Work out the total amount payable. Ensure that the monthly instalments are within your budget before  signing.  Interest free credit can seem attractive, but if you don’t pay on time, or miss a payment, you could have to pay a lot more.
9.Be organised
If you’ve borrowed money, don’t forget that it won’t be long before you have to make   a payment.  Make sure you pay on time, even if it is only the minimum, or you will be  faced with additional charges.
10.If you need help with any of the above, contact your local CAB right away.

Northway House
High Street
Rickmansworth
Hertfordshire
WD3 1EH

Phone(s): 
08444 111 444
08442 451296 (Three Rivers residents only)

Web pages:  www.threeriverscab.org.uk
Rickmansworth CAB opening hours:
•Monday - 10.00am to 3.30pm
•Tuesday - 10.00am to 3.30pm
•Wednesday - 10.00am-12.30pm
•Thursday 10.00am-3.30pm
•Friday 10.00am-12.30pm
•Saturday 10.00am-11.30am (by appointment)