These days, money works very differently to how it used to. In the past, people were far more likely to live within their means. But now, the pressures of modern day living have meant that the majority of people end up in some sort of debt and will continue to borrow in order to fund their lifestyle.

If you’re struggling to get a hold of your debt management, then now might be the time to start altering the way you spend. They are only small changes, but they can make a massive difference to your bank balance and the effectiveness of your debt management.

The first thing to do is to try to avoid waste. As the old saying goes; ‘waste not, want not’ and although it can be highly frustrating when it keeps being quoted to you by elderly relatives, it is extremely relevant these days. So many people end up throwing food away every week; in fact it has been estimated that 8.3 million tonnes of food is thrown out each year, and this can be avoided. Plan ahead, store your food correctly and manage your meals to ensure that you are making the most of what you buy.

Another old fashioned saying that you might have been bombarded with is ‘make do and mend’. Might seem old fashioned but when the bank balance is not on your side, it’s a great way to avoid creeping deeper into debt. So if something has broken, take a look at the cost of mending it rather than replacing it. You will often find that mending, rather than taking the easy way out, can be really beneficial. You could also think about holding a clothes shopping party. So if you’re fed up of those old work tops that you wear every day, get your friends to bring round the old clothes they don’t want anymore and see if you can trade.

It’s these little tricks that may sound old fashioned, but can make all the difference when it comes to your debt management.