Indeed, screeds of people fall into bankruptcy every week. And all they needed was a strict budget to stop themselves falling off the edge.
It’s undeniably difficult to stay thrifty when you’re living on the breadline. But it can and should be done.
So what can you do to skim a little bit of cash from the top of your outgoings?
Know when to mail
All you want to do is send a package to your nearest and dearest overseas – but the price of a delivery costs more ducats than a Spanish armada. And without a decent delivery option, that package will sit at the back of your wardrobe, gathering dust in a fit of pointlessness.
That doesn’t mean, however, that an international courier can’t be inexpensive.
Now that Royal Mail has been privatised, a number of smaller services have shaped up in a bid to knock the champ from the throne.
These smaller companies can offer great variety, lower prices and a vast array of delivery options.
So shop around and you might just be able to afford that parcel delivery.
Cut up those credit cards
Find a tabloid newspaper and leaf through it. Chances are you’ll find some story in which a family are plagued by debt – all because they couldn’t maintain their credit card payments.
These little pieces of plastic are tempting. But like any number of temptations, they’ll lead your finances astray. Except under dire circumstances, they should be avoided at all costs.
If you’re already struggling to pay off a credit card, take out a loan and repay it in one fell swoop. The interest rate on a loan is lower, saving you a little bit of cash every month.
Swearing off credit cards can be difficult – but it’ll ultimately help your funds.
An end-of-night shop
The Reduced to Clear section of a supermarket is like the Wall Street of your daily shop. Through the days, stocks will rise and fall, and prices will fluctuate wildly.
But unlike Wall Street, Reduced to Clear aisles have reliability built in. Foodstuffs will be at their lowest price at the end of the night, just when your local supermarket is about to close.
Just be sure you jump into the budget fray before everyone else. These aisles can get pretty competitive when a chocolate gateau is at half price.