If you’re in debt, you’re almost certainly thinking about how you’ll get out of debt. There are several different ways of doing that. Some of them require specialist help and debt advice, while others are more a matter of determination and self-discipline.

Someone who’s a bit worried about the interest that’s racking up on their debt, for example, would probably benefit from reading around on the web, looking for money-saving tips that could help them free up some money from their monthly budget and get their debts repaid more quickly.

But someone who genuinely can’t keep up with their payments anymore might need to consider a debt solution such as a debt management plan or IVA (Individual Voluntary Arrangement) – two solutions which can help people struggling with their unsecured debts.

Debt management is a new repayment agreement with someone’s unsecured lenders. The borrower might find they’re willing to accept smaller monthly payments if it looks like the best way of getting the money repaid in full. They might agree to freeze interest and waive charges as well, if they think that’ll help, although they don’t have to agree to that (any more than they have to agree to lower payments) and repaying debt more slowly can cost more in the long run if interest is still accruing.

An IVA, on the other hand, is a different kind of agreement – legally binding and overseen by an Insolvency Practitioner. Unlike debt management, an IVA is designed to write off some of the unsecured debt in question: assuming the borrower sticks to the agreement and makes the necessary payments, their unsecured lenders will actually write off the portion of the debt they couldn’t repay in time (over a five-year period, typically). Also unlike debt management, the borrower might have to release equity from their property if they’re a homeowner.

Debt consolidation loans, another debt solution you may have heard of, are for people in a different kind of situation. Loans like this can simplify the process of repaying multiple debts but aren’t appropriate for people who’re really struggling and can’t commit to making regular monthly payments. They’re there to help people who are confident they’ll be able to repay the loan as agreed. When people secure a loan against their home, that’s especially important, as they could be putting their home at risk if they don’t keep up with the payments.

Another difference: a debt consolidation loan won’t impact on someone’s credit rating, while entering a debt management plan or IVA will.

Spread betting is a fresh alternative to traditional trading, following developments in the online and mobile industries.

Having made a significant impact for retail investors to trade shares over the past decade, key factors behind the popularity and accessibility of spread betting platforms is that they’re browser-based, downloadable and mobile.

The fact that all profits made through spread betting are currently free from UK Capital Gains Tax is also appealing. However, UK tax laws are subject to change and may differ depending on your personal circumstances.

Particularly for private investors, great advantages are offered by limiting traditional brokerage costs and accessing financial market information, news, tools and education.

Now traders can capture real-time movements through their mobile and online trading tools with faster, more efficient broadband and FireWire connections.

Trading Online

City Index provides a wealth of market information and sophisticated trading tools along with their online trading platform. This helps traders’ potential, allowing them to trade the opportunity as they see it.

With a unique browser-based, online trading platform, you can:

• Securely place trades 24-hours a day
• Access over 12,000 markets
• Access real-time financial news and analysis feeds from Dow Jones Newswires
• Access our interactive live pricing charting package including technical analysis tools
• Create multiple watch lists to monitor potential future trades

Mobile Trading

You can trade securely and directly from your mobile phone with City Index using their award winning range of City Trading™ mobile apps.

Also trade on the move and access your spread betting account through dedicated apps for iPhone™, Android, BlackBerry, Java and Windows Mobiles.

For example, through some of the platforms, users can:

• Check the latest prices and market movements instantly
• Open and close positions
• Get comprehensive live streaming charting package
• Access global investment news from Dow Jones
• Set stop and limit orders including if done and OCO (one cancels other)
• Create new or amend existing orders
• View your pending, completed and cancelled orders
• Monitor your positions using our unique positions chart
• View and amend multiple Watch Lists
• Review trade and order history
• Be confident that all your information and transactions are secure

Summary

Spread betting and developments in the online and mobile industries have gained momentum. Through these trading platforms, spread bettors can trade whatever, wherever, whenever.

Remember, as a leveraged product, spread betting can result in losses greater than your initial deposit. Ensure you fully understand the risks.

We all know that most of us need to reduce our personal debt, not just for our own pockets but for the sake of the economy. Although it’s a depressing figure, by the end of January 2012 the total UK personal debt stood at £1,456 trillion.

However, it need not all be doom and gloom; there are still opportunities to treat ourselves without being totally out of pocket. Getting out of debt can mean not overindulging but there are also ways to do have memorable experiences without having to sacrifice everything you enjoy. Here are 5 tips to help you enjoy the finer points in life whilst still clearing debt…

1.      Ask for a payrise

Have you asked before? Even if you have, we all know, if we don’t ask, then we don’t get… Why not take a chance and see if you can get paid more for what you currently do. Then you can use the salary increase to help pay off debt, whilst maintaining your current lifestyle.

2.      Get a 2^nd job

If you’re not successful when asking for a payrise, why not get a second job to supplement your income. It doesn’t need to be a huge commitment. Perhaps you could be a home tutor a couple of nights a week. Or even try some freelance writing. Whatever your skill, with enough Googling, you are bound to find something to suit your skills set.

3.      Find cheaper ways of pampering yourself

You still need to look good right? Even if you’re asking for a payrise or interviewing for a second job, you want to know that you look your best when you are doing this. These days, there are so many websites offering beauty vouchers, so why not take a look on a site such as Groupon or other daily-offer sites and see what you can get.

4.      Cut corners with your shopping

Whether it’s your weekly food shop, DIY purchase for home improvements or a dress for a wedding, again, there are countless shopping vouchers to be found online. You need to pay attention to dates though, as these deals do not stay around for long but new ones are constantly appearing, so it’s nearly always a safe bet.

5.      Consolidate your debts

Paying several different loans and credit cards can get very confusing. Why not consolidate all of your debts in to one payment on the same day each month? Being organised this way will give you peace of mind and let you concentrate on the things you really care about. Ensure you find a reputable lender when doing this, however, and check APRs and fees. You need to ensure you won’t end up paying back more than you already owe!