2. If you find temptation is too great when you are out shopping and that impulse buys are your downfall – cut up your Credit Card and concentrate on getting any outstanding debt paid off. When you have successfully cleared your debt think very carefully before you apply for another card. Cash transactions are far better. Hard - but a fact of life!

3. If you want to buy a specific item on your credit card, ask yourself whether you could afford to pay cash for it. If the answer is 'No', then keep your credit card in your wallet. Don't use it!

4. Store Cards – are a definite no-no. The interest rates are usually phenomenal. So again the same advice follows – cut it up and clear the outstanding amount.

5. Keep a careful eye on Personal Loans as the interest rate has increased here over the past four months and is likely to continue.

6. Build up a deposit before applying for a mortgage. Mortgages are now increasingly difficult to obtain. There are now 40% fewer loans being granted than there were three months ago. Therefore, the higher deposit you have the better your chances of securing a mortgage.

7. Make a serious effort to clean up your credit record. Experian at www.creditcheckforfree.co.uk/home offer the chance to check your credit rating free of charge.

8. Make a list of your debts in order of priority – rent, heating, credit card, personal loans, overdrafts. This will give you a clearer picture of how you should be managing your finances.

9. Overdrafts must be watched carefully. Do not exceed your limit as the penalties the banks are now charging are, in most cases, excessive. Just don’t do it!

10. If you can, try and build up an emergency savings bank. Even if this just amounts to emptying your purse, pockets or wallet each day of all the small change such as 50p. coins and anything under that amount. Keep this in a jar and you will be surprised how quickly it mounts up.

11. For detailed information on Banking go to ourBanking Pageand read about the various banks and their facilities, rates of interest and services etc.

12. There are several small things you can do to stop money leaking away
a. Have a budget - after you have allocated a specific sums of money for housing, gas/electricity bills and all the other essentials, keep a firm hand on your spending.
b. Spending. Learn to haggle - you can do this in shops now as they are more keen than ever to make a sale.
c. Don't fritter away your money on skinny lattes etc. Life will go on quite normally without them.
d. Don't buy ready made sandwiches for lunch, make your own the evening before. Put them in the 'fridge ready for the next morning.
e. Ditch the football season ticket, or at least share the cost with friends. Just how many mid-week fixtures can you realistically attend?
f. Cinema tickets - the large multiples - Vue. Odeon and Cineworld are offering cheap family tickets at the weekend.
f. Cancel your Sky subscription and get a Freeview box which offers most of the channels that you are likely to want to view.
g. If you live on your own, consider having a water meter installed. Check whether it is possible to have the meter removed after 12 months if you should change your mind. Do your homework first.
h. If you can think of some more money savers - let us know via the Contact us page.

13. According to eBay most people have saleable, unwanted goods around their homes to the value of £335. Whey not take a look around, sell some items via eBay and raise some cash?.

14. If you are fortunate to have some unwanted antique items around that you would be prepared to sell, either contact your local auctioneers or view one of the online auction houses, i.e. www.twgaze.com and www.luckners.com

15. If you have a baby on the way www.freecycle.org is a good starting point for finding baby items such as pushchairs, prams etc. Charity shops are another good source of goods. Oxfam are now online at www.oxfam.org.uk/html

15. Probably most important of all – don’t bury your head in the sand and pretend debt is not happening. It will, it if so you will need to take action.

Do you have some personal knowledge of debt and how to cope? Why not pass it on via Contact Us So that it can be passed on to help others. Thank you.