Articles

The 70-20-10 method of budgeting allocates proportions of your income to three different areas – living costs, debt, and savings. The sheer simplicity of the budget helps you control spending, repay debt, and build a nest egg for the future.

If you have money left over at the end of the month, you may be wondering how best to use it. Should you pay off your debts, or is saving a better option? You might even be considering both.

The emotional strain of divorce can be overwhelming, and further exacerbated by uncertainty over money. Divorce is typically an expensive process, so what happens if you can’t afford to pay your divorce legal fees?

Budgeting and organising your financial life might seem like a daunting task but once you’ve done it you’ll have much greater control over your money.

A huge rise in energy costs means you could pay significantly more for your gas and electricity this winter, and throughout 2022.

It’s very easy to overspend at Christmas and also difficult to deal with the aftermath in the New Year, so don’t let Christmas 2021 lead to financial stress in 2022.

The breathing space debt moratorium in Scotland enables people in debt to trigger a six-month period that’s free of creditor action, so they can take stock of their situation and formulate a plan.

Are personal debts in Scotland written off after six years? What is statute-barred debt? When is Scottish debt unenforceable? Find out more in this article.

If you live in Scotland and are finding it difficult to keep up with debt repayments, you may be eligible to enter a Scottish IVA (Individual Voluntary Arrangement).

If you are struggling to repay debt because you’re on a low income and have few assets to sell, the Minimal Asset Process (MAP) may provide a way out of this worrying situation.

If you live in Scotland and are considering personal bankruptcy (sequestration), there are certain issues that you need to be aware of. These include an understanding of what will happen to your assets, and also the long-term effect of sequestration on your credit file.

The coronavirus crisis is causing serious financial problems across society, and many people are struggling to keep up with repayments on mortgages, rent, credit cards, and other day-to-day liabilities.