Citizens Advice Bureaux always see a surge in new debt enquiries after the Christmas festivities are over. With national figures from Citizens Advice showing a year on year increase of 35% in mortgage and secured loan arrears problems, it is particularly important that consumers are savvy shoppers this Christmas and prioritise their spending. Citizens Advice is urging consumers not to forgo their mortgage payments in preference for festive expenses. The guides, drawn up with the support of Barclaycard, give ten top tips to help people to avoid a financial headache in the New Year.
John Rhodes, Head of Financial Capability at Citizens Advice said: "Christmas is a time of giving, but you don't want to give yourself a headache in the New Year with bills and debts you can't afford. It's all too easy to overspend - there are tempting offers and pressures to buy, but you must decide how much you can afford before you start spending. If you do find yourself in difficulties then seek advice as soon as possible. Make sure that you are prioritising paying the bills which keep you in your home, warm and at liberty."
The top tips are:
Plan early for Christmas
Don't forget the everyday bills
Don't bank on an overdraft
Keep things simple
Shop around
Buy safe to be safe
Read the small print
Do your own credit checks
Be disciplined
Start planning and saving for next Christmas
Andrea Hughes, Senor Community Manager at Barclaycard added: "We are delighted to again be supporting Citizens Advice with the development of these tips to avoid the financial pitfalls of the festive season."
