Top tips to avoid a xmas debt hangover

December 7, 2011 No Comments

We are reminding people of the importance of keeping a check on their finances this christmas. We are advising people to spend only what they can afford. If you budget yourself you can still enjoy the festive season. We are also reminding people to seek help as soon as they begin to struggle with their finances, dont ignor the problems as debt problems quickly escalate and become unmanagable. 

Ten Top Tips to avoid a xmas debt hangover

  1. Its maybe a little late now, but you should always plan early for Christmas. People should be realistic and budget accordingly. Work out how much you are going to spend on each person and stick to it.
  2. Don’t forget the everyday bills, rent, mortgage, utility and food bills still have to be paid.
  3. Don’t bank on an overdraft. If you do need more money don’t just run up an overdraft without talking to the bank first.
  4. Keep things simple. Don’t be persuaded to take out extended credit agreements, unless they really do work out cheaper.
  5. Shop around. Try as many different places as possible and be wary of extended warranties.
  6. Buy safe to be safe. Don’t, under any circumstances, buy from unauthorised traders or borrow from unauthorised lenders.
  7. Read the small print. Check for any hidden extras and work out the total amount payable.
  8. Do your own credit checks. When using a credit card shop around and compare terms.
  9. Be organised. If you have had to borrow money make sure you pay it back on time. Additional charges may prove hefty.
  10. Start planning and saving for next Christmas. Once Christmas is over look back at what you did well and any mistakes made.

Everyone wants to have the best possible Christmas and to do that it’s important to make sure you’re aware of what your spending and how to be more savvy when you shop.

It is very tempting at this time of year to spend more than you can realistically afford.

If people do get into financial difficulties they are urged to seek advice as soon as possible.

Humber Debt Solutions are open five days a week for people who want to take advantage of their debt advice service.

Our offices are in Hull, but you don’t have to live in Hull to obtain debt advice, we help people across the whole of the UK.

If you need debt advice call FREE on 0800 915 5371 or from mobiles call 01482 585017 or 01482 225812.