Are you entering the New Year with a debt hangover?
We’ve waved 2017 goodbye as we’re settling into the new year, but have you welcomed 2018 with a sore head? You could be suffering from a debt hangover …
Christmas is a fun-filled, happy and generous occasion and a period of overindulging on food and drink and presents. But with overindulging comes overspending which can lead to great financial difficulty in the months to come. For most, January is the hardest month as bills begin to mount, especially for those who purchased their Christmas essentials on their credit cards. The Money Advice Trust found that 50% of individuals used their credit cards to purchase Christmas gifts in 2017, and it is expected that 7.9 million people will fall behind on their bills and repayments this January.
If you are suffering from a debt hangover take a look at these 3 helpful tips on how to ensure you don’t suffer from this hangover again:
- Budgeting This might sound obvious but how many of us actually budget our finances? Make 2018 the year you start to manage your finances and to ensure you are always on top of your payments and bills. You can create a spreadsheet of all your incomings and outgoings to provide a clear overview of your finances.
- Talk to Sensible Debt Advice We would say this of course! But it’s vital you talk to someone who can help you during any financial difficulty. Struggling with debt can make you feel isolated but you’re not going through this alone. We have years of experience and can provide expert advice on how to manage your debt.
- Get a head-start on next Christmas Yes, we’re being serious. Planning and organising for next Christmas is one way of staying ahead of your finances. We recommend putting money aside each month to ensure you have enough money over the festive period to purchase the essential items.
If you are suffering from a debt hangover, then talk to us today. We guarantee that you won’t be the only one. We can provide advice and support on debt and help to find you a solution. Call 01656 661426 for a confidential and free consultation, to discuss your options