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Simple ways to save money : Clear expensive debts

There are many ways to save money on an ongoing basis but ultimately one of the main rules we need to consider is the reduction of expensive debt before low interest rate debt. The chances are that the average UK consumer will have a mortgage, loans, overdrafts and probably a credit card. If this is the situation you need to consider reducing your credit card debt before anything else because this will grow and grow if left unattended.

While there are other factors to consider, not least the need to at least pay some money towards your other debts, ultimately every pound used to pay off your credit card debt will save you more interest in the future and eventually reduce the pressure on your financial situation. More people seem to put their credit card debt to one side, assuming they will take care of it at a later date, when in reality it should be the first debt which you look to refinance or payoff as quickly as possible.

If you are finding yourself in a difficult financial situation it is vital that you take professional advice as soon as possible because every situation is different and there may be different options available to different people.

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