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Managing my money

4. Debt

Getting into debt means that you owe money to people, companies or banks. The best thing you can do is to manage your money and not get into debt, but if you do owe money do not ignore it. Ignoring debt is the worst thing you can do and often leads to more debt.

Make sure you pay off any debt as soon as you can. If you can't pay off all of it, you can often come to agreement to pay it off bit by bit, either weekly or monthly.

If you have run up a debt and don't know what to do, just be honest with your PA and they will be able to help you work things out. The Citizens' Advice Bureau also offers free advice on debt problems.

Top tip: If you are short of money do not be tempted by a 'pay day loan'. They are expensive and you can end up owing a lot of money in a matter of weeks.
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Last updated: 4 October 2017

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