Endowment policies used to be a popular way to build up funds to repay capital of interest-only mortgages. However, some people have found these policies haven't built up enough money to pay off full mortgage amount at end of mortgage term.

Make sure you make arrangements to pay off loan when mortgage ends. If you don't, you could lose your home.

The main advantage to an interest only mortgage is initially seen in payments you make to your lender. The fact that you will only be repaying your interest here means that your monthly payments will be much lower than they would be for a repayment product.

If your investment does not give you good enough returns, you won't have enough money to repay capital owed. So, it's vital to take good and qualified advice before buying an interest only product and then to track your investment progress on a regular basis.

You also need to consider fact that rates you get for an interest only mortgage may not be as favourable as those on offer for repayment mortgages.

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Once you are sure you have enough to eat and a roof over your head you can start thinking about your other bills. The secured loans, like your car payment, should come before your

unsecured loans, like your credit cards.

The reason for this is simple. Creditors that have secured property will sue or repossess much quicker than credit card companies.

If you find yourself in this situation it is a sign that you need to do something drastic and fast. By not paying all of your bills each month they are going to add up quickly and

you are going to accumulate a lot of late fees.

The best place to start is to find out exactly where you stand and what is causing problem. This is as simple as listing your income on one side of a piece of paper and your bills on other. Total each and subtract your bills from your income.

Your next step is to develop a budget. You can find a free and simple budget by visiting The Complete Budget and Bill Organizer at http://www.homemoneyhelp.com/BBOonline.html

Whether you use my budget system or another it is very important that you start one as soon as possible. For those of you that believe a budget is to restrictive, just opposite is true. The only way you can get what you want and know you can afford it is to have a

budget in place.

It is important that you pay all of your bills on time each month. When you don't have money to pay everything it is vital to your survival that you pay most important bills first.