Don’t let debt ruin your Christmas

At Christmas it’s especially tempting to get carried away and spend more than you can afford to. All too often this can lead to worry and regret when the credit card bills arrive in January. This Christmas we are appealing for people to set themselves the challenge of planning a Christmas budget and sticking to it.

Debt Advice Foundation Christmas shopping tips:

• Plan ahead by writing a list of gifts and how much you can afford to spend on each person. Make sure to take your list with you when you go shopping.
• Shopping online will allow you to compare prices more easily and because you’re searching for specific items, it can often prevent you from making those instantly regrettable impulse purchases such as singing snowmen and dancing Christmas trees!
• If you are struggling financially this year you certainly won’t be alone. Share your concern with family and friends – some may well be in the same boat and would welcome a “gift holiday”.
• Don’t max out your store cards just because you can. Whilst interest free periods of credit can be a great way to manage your gift purchasing, you need to be sure that you know exactly when your interest free period finishes, how much you can realistically pay off by the time it does and whether or not you can afford the interest payments thereafter.
• It’s becoming more and more common for families to buy more modest gifts for each other at Christmas so they can get more for their money in the New Year sales.

Remember, if you need to speak confidentially to someone about debt this Christmas, please call to speak to an adviser.

Whatever you’re doing, we hope you have a wonderful Christmas.

Debt Advice Foundation