One in five in Yorkshire had to buy food on credit this summer

NEARLY one in five people in Yorkshire used credit to pay for food in June, according to new research.
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Of course, none of us can go without food. It’s a priority expense and if you don’t have enough money to pay for it, the only way to cope might be to turn to credit.

What’s more, the research from Debt Advisory Centre, shows that one in nine people in Yorkshire had to borrow to afford their rent or even their mortgage. This is another priority bill as if you don’t pay it, you could lose the roof over your head.

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When it comes to these essential bills, it’s really important that you pay them before anything else. That means that repaying other credit agreements or other non-essential services has to come after things like food or rent.

If you’re struggling to afford the essentials, it might just be the case that you need to keep a tighter hold on your budget. Make sure you’ve got a really comprehensive budget plan covering everything you’ve got coming in and going out, and try to identify if there are any areas where you can cut back.

But having trouble with basic expenses might not just mean you need to budget better – it could also be a warning sign that you’re having real difficulties with your spending.

There’s nothing wrong with having the odd tight month. After all, we all have those bills we weren’t expecting – the car won’t start or the washing machine’s gone on the blink – and when this happens, it can be difficult to make ends meet.

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But the real worry comes when you’re living like this every month – only just managing to scrape by and having to rely on credit a few days before payday. If you’re borrowing to afford your rent or your food shopping, it’s unlikely you’ll be able to afford the repayments for this either. And taking out credit you can’t afford to pay back could mean you start to struggle even further.

Instead of turning to credit if you’re finding it hard to afford the essentials, the first thing you should do is take a look at your budget. As we explained above, look for any areas where you could spend less to try and free up some cash. Or, if you can’t make any more cutbacks, you could consider getting professional advice from a debt advisor. Whatever happens, don’t take out any credit unless you can afford the repayments – it should never be a way to escape from money problems.

Debt Advisory Centre: 0161 871 4881

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