Avoiding a festive financial hangover
WITH Christmas approaching, a Harrogate charity has published its top 10 tips for avoiding a debt hangover.
Harrogate Citizens Advice Bureau, based at Victoria Avenue, is keen to help residents keep their festive finances in check.
From April 2010 to March 2011, CABs in England and Wales advised 2.1 million clients on 7.1 million problems.
Carol Barber, bureau manager, said: “We all want to have the best possible Christmas and to do that it’s important to make sure you’re aware of what you’re spending and how to be more savvy when you shop.
“If you do get into difficulties, get advice as soon as you can from us or visit www.adviceguide.org.uk.”
Its top tips are:
1. Plan early for Christmas
Be realistic and budget accordingly. Work out how much you are going to spend on each person– and stick to it. Manage expectations as to what you or Santa can give!
2. Don’t forget the everyday bills
Remember that rent, the mortgage, utility bills, food bills and other existing debts still have to be paid– and the consequences can be severe if they’re not. Even though it’s Christmas, get your priorities right.
3. Don’t bank on an overdraft
If you do need more money, don’t just run up an overdraft without talking to your bank first – it will work out much more expensive.
4. Keep things simple
If you can afford to pay for your goods outright by cash, cheque, or debit card, don’t be persuaded to takeout extended credit agreements unless they really do work out cheaper.
5. Shop around
Try as many different places as possible to find the best price. Buy what you want and not what other people say you need. Be wary of extended warranties; the cost of a repair could be less than the cost of the warranty.
6. Buy safe to be safe
Whatever the deal, whatever the temptation, don’t buy from unauthorised traders and don’t borrow from unauthorised lenders. The initial savings and convenience may prove to be a false economy.
7. Read the small print
Check for hidden extras in any credit agreement. Workout the total amount payable.
Ensure that the monthly instalments are within your budget before signing. Interest-free credit can seem attractive, but if you don’t pay on time, or miss a payment, you could have to pay a lot more.
8. Do your own credit checks
If you are going to use a credit card, shop around and compare terms. Some cards charge high interest rates, but provide interest-free periods or discounts. Budget for all these costs and put the payment dates in your diary.
9. Be organised
There’s a lot to remember at Christmas. If you’ve borrowed money don’t forget that it won’t be long before you have to make a payment.
Make sure you pay on time, even if it is only the minimum, or you will be faced with additional charges.
10. Start planning and saving for next Christmas
Once Christmas is over, it’s worth looking at what you did well and what you didn’t. Learn from your mistakes and start planning how you will do things differently next year. This might also be a good time to start saving for next Christmas.
If you want to find out more information about these tips or further money-management advice this Christmas, go to: www.citizensadvice.org.uk/fsfl_projects_toptipschristmas.htm or visit your local Citizens Advice Bureau.
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Comments
There are 34 comments to this article
Page 1 of 3
Rainbow Warrior
Monday, December 19, 2011 at 10:46 PMMust have been the Super T he's been drinking all week, addled his brain again. Thinks he is the top dog, fact is he can't even stand up ... and he thinks he can. Stay where you are mate. The gutter suits you, turn your head around and look up to the stars.
Rainbow Warrior
Monday, December 19, 2011 at 10:37 PMHappy Christmas dog boy - don't take it personally, but you really are just not in the same league. Stick to the kitchen scr*ps and stay out of the restaurant darling. Your face doesn't fit.
Rainbow Warrior
Monday, December 19, 2011 at 10:33 PMWhy pending moderation ? Here's the rest of my post - You're an old dog boy now, guess you can look after yourself - good luck, maybe someone will pick you up in the New Year and take you in ... take it easy pal ...
Rainbow Warrior
Monday, December 19, 2011 at 10:33 PMWhy pending moderation ? Here's the rest of my post - You're an old dog boy now, guess you can look after yourself - good luck, maybe someone will pick you up in the New Year and take you in ... take it easy pal ...
Rainbow Warrior
Monday, December 19, 2011 at 10:32 PMTry again - Someone cooking your sausages for you tonight ?
Rainbow Warrior
Monday, December 19, 2011 at 10:30 PMPending Moderation
Rainbow Warrior
Monday, December 19, 2011 at 10:25 PMBut you are insane dog boy, your comments on here show that. You're having a laugh and at the same time perpetuating that delusion you have ... you think you are the dog's baubles but in fact you are the dog's poop which some one else has to clean up after you.
dog cap
Monday, December 19, 2011 at 11:11 AMComment removed by moderator
La Gioconda
Monday, December 19, 2011 at 10:26 AM@ dog cap. i don't think that sanity includes folk who write to imaginary people even ones called gina!
dog cap
Sunday, December 18, 2011 at 12:48 PMComment removed by moderator
La Gioconda
Sunday, December 18, 2011 at 01:24 AM@ Rainbow. i agree with u but until the advertiser creates an adults only site we are stuck with this, n i don't imagine they would create such a site.
Rainbow Warrior
Saturday, December 17, 2011 at 09:11 PMPoint taken - I will try and restrain myself. But the point is this forum does not allow free speech.
La Gioconda
Saturday, December 17, 2011 at 12:08 PM@ Rainbow. i posted comment to dog cap on the baths award article. do be careful what u say cos kids could be reading this.
Rainbow Warrior
Friday, December 16, 2011 at 08:25 PMLooks like this thread might be censored soon as well ... all posts will be removed ... Free speech, my arris ! What is the point ? See "Cover-up over ‘inappropriate behaviour’ at baths" article - need I say more ? Free speech is not allowed in Harrogate ... fascist "newspaper" editors and "elected" councillors are in cahoots to stop it ...
La Gioconda
Friday, December 16, 2011 at 11:05 AMhey Rainbow, be careful what u wish for!!!!! lol
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