Money Manager Login For Debt Support Trust

In this video we will show how to login to Debt Support Trust and use the Money Manager Tool. This online financial organiser can help people see what income and outgoings they have as well as help them manage their money more effectively.http://www.debtsupporttrust.org.uk/money-manager

Money Manager Tool

The demand for a debt help tool is greater than ever before and in this article we will discuss an application which enables you to record you income, expenditure, debts and payments to debts in once easy place. We will explain how to use the money manager tool and why it has been created.

A money manager tool is a device which will take a person's income and expenditure and then show how much available income they have. There are different tools which will offer a range of options, these can include;

• Income and Expenditure.
• Dates and times of when money came in and out
• Debts

Some of these tools may be free online organisers while others may be mobile applications.

How to use a money manager tool

When using an online money manager tool a person will be required to register and sign into the application. This enables their details to be stored. Once logged on there will be an option to input income and expenditure which will then tell the user how much money they have left over each month. Some applications will have an option to include a users debt, this will then give the final summary of;

• How much a person spends
• What they spend money on
• How much they pay to their debts

In some cases a person may well be spending more than they have coming in. When this happens the online finance tool will help the person to see where they can save money.

Why this tool is needed

As more people are finding themselves struggling to manage their finances the need for a money manager tool has grown. When trying to find a solution to a debt problem many people will need an income and expenditure in order to make proposals to creditors. This tool means people will have their income and expenditure ready when they need it and have an acute understanding of their finances.

How the Money Manager will help people.

This online application will give people the chance to find out where they can save money as well as know what they are spending money on.  Many people have found that the reason they got into debt was because they were unsure of where their money was going. The money manager gives people the tool to effectively manage their finances and take control of their finances again.

Debt Analyser and Money Manager Tool

A new online debt analyser tool has been created and is now able to help people with financial difficulties. The new tool will ask a user questions which will help to find the best solution to their debt problems.

In order to use the debt analyser people do not need to log in but simply to fill out the questionnaire. There are 5 sections within the online tool, these are as follows ;

•   Personal Details
•   Assets & Liabilities
•   Expenditure
•   Income
•   Result

·          

Personal Details

• This will ask the following;
• Name
• Email
• Telephone number
• Will give the option for a call back
• Region
• Notes

Asset & Liabilities

This will ask the following;

• Do you own your property - If yes, what is the estimated value
• How much do you owe to your mortgage
• Do you have secured loans against your property
• How do you owe in secured debt
• Current equity
• Do you own a car
• How much is your car worth
• Is your car purchased on HP
• How much payment is outstanding
• Do you have any other assets
• How much are they worth
• Current Assets

Unsecured Liabilities :-

• This will include the following;
• Total credit card debt- How much is owed and how many creditors
• Total debt from overdrafts  -  How much is owed and how many creditors
• Total store card debt  -  How much is owed and how many creditors
• Total unsecured loans  -  How much is owed and how many creditors
• Total catalogue debt  -  How much is owed and how many creditors
• Total unsecured debt  -  How much is owed and how many creditors

Expenditure - This is a list of monthly outgoings

  

This will ask the following;

• Mortgage / Rent
• Mortgage / Rent Arrears
• Secured Loan(s)
• Secured Loan Arrears
• Endowment
• Council Tax
• Water Rates
• House / Building Insurance
• Electricity
• Gas
• Oil
• Entertainment
• Telephone
• Mobile Phone
• Car Hire Purchase
• Car Insurance
• Car Tax
• Car Maintenance
• Petrol / Diesel
• Food
• Clothing
• Child Support Maintenance
• Life Insurance
• Child Care
• Transport / Travel
• TV License / SKY / Cable
• Dental Plan
• Opticians
• Medical Costs
• Contingency
• Outstanding Fines
• Student Loans
• Other
• Total

When completing the income and expenditure it is important that all information is as close to accurate as possible. There is a guideline which many organisations will use to determine what is a suitable amount of spending for each outgoing.

Your Income - This is a list of all money coming in on a monthly basis

• This will ask the following;
• Take home pay
• Partner take home pay
• Child benefit
• Working tax credit
• Pension
• Partner pension
• Income support
• Jobseekers allowance
• Incapacity benefit
• DLA / AA
• Child maintenance
• Other income
• Monthly Income

Result This will give the best debt solution based on the information which was provided. In some instances you may have two or three available debt options. In this situation a qualified debt advisor would have to discuss the advantages and disadvantages of each solution to enable you to make a decision.

Avoiding Credit Card Debt Problems - Debt Advice And Support

Credit cards are a way of life for people all around the world. Credit cards can be a useful tool which support us all when we are needing a little financial help. When waiting those extra couple of days before pay-day it can also help to have the ability to buy that treat for ourselves.

While it can be useful to have a credit card because you actually can use credit cards without racking up credit card debt as long as you have the knowledge and the will to do so. While most people will use the their credit facility wisely many have found themselves using the card to pay for the day-to-day cost of living, especially when they are out of work or having financial problems already.

The best way to manage your credit card debt is to manage your finances. This means setting up an income and expenditure to be able to see how much money is left over each month. Sometime people may find that they have less money at the end of each month than they did to begin with. In these instances reductions in expenditure will be required if possible.

Start by writing down all of your income and expenses. Household expenses include your phone, gas, electric, tv and any other household costs. Now subtract your expenses from your income. If you have a negative income you will need to cut what expenses you don't need to come into a positive. It is also a good idea to figure in money for emergencies (if you don't have an emergency fund) and money to put into savings.

Now that you have your budget set, you will need to stick to it and not over spend where it is unnecessary to do so. If in debt then it would be best not to use credit facilities (until after the debt has been resolved) which could further your problem.

If this method doesn't work/help then it would be best to seek professional debt advice from a charity/company who will be able to offer a range of solutions including general advice, debt management, iva, trust deed, lila, debt relief order, bankruptcy and sequestration. For some of these solutions a person may need to have more debts than credit cards but it would not be exclusive.

While a lot if these solutions can be hard to understand or to asses but there is help available to those who want to know what options they have at their disposal.