One of our first Twitter chats in January had to be around the topic of dealing with debt!
You can read a summary of the chat below, or search for the hashtag #MondayMoneyUK on Twitter for the full event.
Our host was Sara Williams from Debt Camel and she was on Share Radio on Tuesday 10th January at 10am talking about the best of the bloggers tweets on the topic.
Q1 January is a difficult time for millions – have you had a post Xmas debt problem?
@DebtCamel we found that more than a quarter (28%) of families were planning to borrow money to pay for Christmas #MondayMoneyUK
— Children’s Society (@childrensociety) January 9, 2017
Half of families in problem debt last year cut down on heating in the weeks after Christmas in attempt to rebalance finances #MondayMoneyUK
— Children’s Society (@childrensociety) January 9, 2017
Q2 Have you got some tips for people with a big credit card bill who can only pay the minimum?
.@DebtCamel Argh, the minimum repayment nightmare. Transferring to a 0% / lower APR card would help #MondayMoneyUK https://t.co/PIEMStJnAP
— Andy Webb CleverCash (@AndyCleverCash) January 9, 2017
#MondayMoneyUK @DebtCamel Chunk your issues, if you owe £500. Break it into 5 x £100 and start thinking how you can clear £100 at a time.
— Savvy Dad Olly Cator (@SavvyDadUK) January 9, 2017
When in #debt there are always some tougher months, like when I only spent £89.00 on food in 40 days #mondaymoneyuk https://t.co/G0TWuN94qT
— Natalya 🐱 (@Cottage_R) January 9, 2017
@YourMoneyCoachx @SavvyDadUK @DebtCamel I started my debt-free journey by setting small, monthly goals & that really helped! #MondayMoneyUK
— Natalya 🐱 (@Cottage_R) January 9, 2017
Q3 What should someone do if they can’t pay some of their debts or bills?
A3 Deep breath. Seek help. Identify priority debts to pay eg mortgage/rent, council tax, utility bills. Cut all inessentials. #MondayMoneyUK https://t.co/ov0As1CNpq
— MuchMoreWithLess (@MuchMore_Less) January 9, 2017
Don’t hide from it! Don’t get more debt to pay it back. Get (free) professional money advice & tell creditors the situation #mondaymoneyuk https://t.co/XVTSP5YeTO
— Naomi Willis (@SkintDad_Naomi) January 9, 2017
A3 here’s an article I wrote on the January credit card blues > https://t.co/6ImlM1fDZD #MondayMoneyUK
— Debt Camel (@DebtCamel) January 9, 2017
Raise awareness of the damage debt causes children & sign this @childrensociety petition #DebtTrap https://t.co/ZmxKk6cCTs #mondaymoneyuk
— UK Money Bloggers (@UKMoneybloggers) January 9, 2017
Anyone looking for advice can use this @YourMoneyAdvice tool. Enter postcode to see who is nearby https://t.co/OJVFbukcpS #MondayMoneyUK https://t.co/WGbeyUwM2M
— Andy Webb CleverCash (@AndyCleverCash) January 9, 2017
Q4 How can people deal with the stress of problem debt?
@DebtCamel Taking control. Taking action. Getting support. Talking to people. Exercise. Fresh air! #MondayMoneyUK
— Your money, sorted (@YourMoneyCoachx) January 9, 2017
@DebtCamel don’t let it consume you or let it define the person that you are. Remember it’s only temporary #MondayMoneyUK
— Money for Monday (@MoneyforMonday) January 9, 2017
@DebtCamel I also found it so good to have the support of people fighting debt alongside me on the @MSE_Forum #MondayMoneyUK
— Natalya 🐱 (@Cottage_R) January 9, 2017
@DebtCamel #Mondaymoneyuk Let someone in on it & the fear lessens. There is always a way forward.
— CAPuk (@CAPuk) January 9, 2017
@childrensociety @DebtCamel @StepChange And don’t leave it too long! c50% @StepChange clients wait a year before seeking help #MondayMoneyUK
— James Jones (@AskJames) January 9, 2017
A4 Asking for help isn’t a sign of weakness or failure. Ignoring debt won’t make it, or the stress, go away. Ask for help 🙂 #MondayMoneyUK
— Lee Balders (@HomelyEconomics) January 9, 2017
@DebtCamel A4: Speak to someone else about it. Remember that old cliche about a problem shared… #MondayMoneyUK
— James Jones (@AskJames) January 9, 2017
Q5 Do you think it is become normal to always be in debt?
@DebtCamel Yes, and its scary debt has been normalised so much (we don’t even call it debt but Credit) #MondayMoneyUK
— Saving Scotts (@savingscotts) January 9, 2017
.@DebtCamel crucial to consider what happens if things change e.g. cost of living, job loss, interest rate rises in future… #MondayMoneyUK
— National Debtline (@natdebtline) January 9, 2017
.@DebtCamel debt is normal, but so little is spoken about it until it’s an issue. Some of us learn the hard way https://t.co/7yQk0LbOk9
— Skint Dad (@SkintDad) January 9, 2017