Debt Management Advice for Xmas 2008
16th November 2007
Many will still be paying off the £11.4 billion placed on credit cards this Christmas by Easter 2008, according to independent research.
On average, people are planning to spend an extra £44 this christmas than they did last year. An MRA adviser has prepared some simple debt management advice to keep your Christmas spirits alive well into 2008.
Debt Management Advice at Christmas
People often make the mistake saying they will save money at the end of the month. All too often, they leave it too late and the money is not there. A simple budgetting technique is to work out what you can save at the beginning each month. Then transfer this amount into a seperate account (or cash) to keep it safe and away from temptation.
To work out how much you can save in a month, look at your income and deduct your months expenditure from it. Bank statements may help here
Our adviser also added, "... it’s a good idea to start thinking about budgeting as early as possible, to avoid a last minute overspend ... even if you’re not in the ‘christmas mood' yet!”
The team at MRA wish you a happy Christmas for 2008!
In debt already?
If you're in debt before the Christmas spending has begun, it's important to talk to a debt counselor first. MRA offers free advice to anyone who needs it. If our services can't help, we will point you in the direction of an organisation that can. You can call 0800 612 23 during office hours or use our contact form.
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