Step by Step Process to Managing your Borrowings
Step 1 - Review your Finances
Setting out your monthly income and outgoings is the first step towards improving your financial situation. You can download our Monthly Income & Expenditure Planner to help you get a clear picture of where your money is going and any changes you need to make.
Step 2 – Take Action
Once you have a clear and realistic picture of your financial situation, you may be able to take action to make immediate improvements.
Manage your spending
Keep a ‘spend diary’ for the month. You may be surprised at how some small regular items can add up to a substantial monthly amount. If they’re optional, you could save that amount by cutting back here.
Maximise your income
Check that you are getting all the tax credits and reliefs to which you are entitled (e.g. Tax Relief at Source, medical and dental expenses)
Explore other ways of bringing in additional income, for example renting out a room or taking on a part-time job.
Step 3 - Get in touch
The sooner you talk to us the easier it will be for us to find a solution to your financial difficulty. Simply get in touch with us and we will arrange for an experienced adviser to talk to you in confidence, at a time that suits you.
For more information please pick up the Managing your Personal Borrowings Guide from your AIB branch or download it below.