Christmas has become an expensive time of the year for the average family in the UK and it’s all to easy to build up debt at Christmas.
Those consumers who already have debt prior to Christmas will find it even harder to cope with the additional expense.
The festive period will see a lot of consumers take out additional credit, either through store cards, credit cards or even payday loans.
At Debt Support Trust we always advise people to follow some simple tips to avoid building up more debt at Christmas.
Manage Debt At Christmas
Budget: Having a budget will tell people how much they can afford to spend on Christmas and could help avoid the need for additional credit. If someone does require credit they will know how much they can afford to repay.
Save: It may be too late by now but having a savings account can make Christmas a lot more affordable. If someone saves £40 per month for the year they will have £500 by December 25th.
Christmas Catalogue: Signing up to a Christmas catalogue can help save money and make shopping for presents easier. Some people choose to buy the presents throughout the year so they have everything bought in time.
Get Debt Advice: If someone’s debt problem is so bad they can’t afford Christmas and aren’t able or willing to take further credit, they should seek debt advice. By getting advice people can get into a debt solution in time for Christmas arriving and help free up expenditure currently going towards paying debts.
Clear Debt In 2015 Campaign
It’s expected hundreds of thousands of people will take on extra, unmanageable debt at Christmas but they can get the help necessary.
Debt Support Trust will be running a campaign at the start of 2015 to highlight the need to get debt advice early in the new year.
By seeking debt advice at the start of 2015 it will help make Christmas 2015 an affordable and enjoyable occasion.