Don't let the January blues put you in the red
With Christmas coming around again, it seems the cost of celebrating gets more and more each year. Food, gifts, decorations; the list is endless but unfortunately, the means to pay for it all aren't.
Everyone overspends at this time of year - it's as much a tradition as tinsel and turkey. Go too mad
however and you could find yourself in a spot of bother when the new year comes round and the bills start popping through the door.
Everything gets on top of you, overdrafts, loans, store cards, more loans. Phone calls to the bank don't get you very far and you soon realise you're up to your limits and up to your neck.
The worst thing you can do is ignore the situation. Firstly, speak to your bank, credit card companies and whoever else you owe money to and try to re-structure your repayments so they're a little more manageable.
In most cases, the situation is made worse by people pretending it will all go away - and of course, it doesn't. Usually, banks and credit card companies are all too willing to help as it's in their best interests (they'd rather receive some money from you over a longer period than none at all) and will try and help you through the difficulties you're facing.
Think about 0% credit card balance transfers and going shopping cold turkey for a few months.
Alternatively, consider a debt consolidation loan that rolls all your outstanding credit into one
manageable, monthly payment and puts a stop to you having lots of different credit in lots of
different places.
So, if you do find yourself in a spot of financial bother after Christmas, don't whatever you do ignore it, just face up to it and make sure you resolve your issues and enjoy a happier 2008. Before making any financial decisions we advise that you seek the advice of an Independant Financial Advisor and
always read the small print on any agreement you make.
