If you have ever been in deep debt, you will know that it is a stressful situation to be in. If things get out of hand, most aspects of your life will be adversely affected. 

You will inevitably have to spend hours juggling your debt, knowing that you are gradually getting into deeper trouble. When things get really out of control you dread opening the post and your emails. You end up avoiding answering the phone and if the bailiffs are due too, you may not even want to answer your door.

Debt causes untold damage to families and people’s health and can cause anxiety. But, fortunately, you can get help from Creditfix, other insolvency firms, debt charities and the Citizens Advice bureau. With their services, support and advice you can get yourself out of the hole that you have ended up in.

Importantly, in the process, you will develop good money management habits that greatly reduce the chances of your getting into debt again. Plus, knowing that you are back in control will help you to feel far happier, even before you have paid down all of your debt.

You can start the process of taking control, right now. All you need to do is to get hold of all of your latest statements and bills, then download a money management app on to your phone, tablet or PC. If you are not sure which one to use, this article will help you to decide.

It will likely take you an hour, maybe two, to key all of the necessary details into the app you choose. But, by the end of it, you will have a far clearer picture of what is going on with your money.

Initially, you might be a bit shocked by how tight your finances are. As well as a bit worried about how much you owe. Try not to let what you discover overwhelm you. Remember that you are doing something positive by taking the first step of fully understanding your situation. If you live in the UK, with the right advice and support any size of debt can be dealt with and managed. So, remember that you will definitely be able to end up debt-free, at some point in the future.

Your next step is to set things up so you can keep track of where your money goes. It is important to get into the habit of recording how you spend your cash as you go. So, at least once a day go through all of your receipts and update your money management app with the details.

You also need to make sure that everything that has gone in and out of your accounts has been labelled with details of what it is for. Most, but not all money management apps automatically pull the details of each transaction from your bank and credit card accounts. So, you can see what has been spent. But, you may need to make sure that each payment you make goes into the right category and is properly labelled on your app.

Once you do this, you will be able to see at a glance where your money goes. You can also set a budget for each category. If it looks like you are going to overspend you will get a message warning you of this fact. This enables you to stop spending and avoid getting into more debt.