Christmas is over and now the bills have started to come in.
This includes new bills from store cards that you may have used to get those loyalty points, credit card companies that have informed you that you’ve maxed out on credit or you are at the limit on your bank overdraft and yet the bills keep coming in.
Sound familiar?
January can be a difficult month to manage budgets especially when there’s been lots of children to buy gifts for and with the spike on energy costs as it gets colder, it’s even more important to manage any debts you may have the cheapest way possible.
The first step is getting out of debt could be to collate all of your bills together to see the total amount of what is outstanding. The next is to then look at the cost of having that debt as not all debts are the same. For example look at the bank charges for your overdraft as they may be more expensive that you realise.
We’ve got resources to in our Wave Money Guide which you can download here to help you list them all out.
When you’ve got on top of what is outstanding, you may want to look at applying for a Debt Consolidation Loan so that all of your debts can be managed in one place and it’s a way of saving money on the interest you are paying on your debts. It also helps take the stress out of managing your debts as you are repaying a single loan each month.. All of our loans are ethical and as you’ll be saving when you pay back your debt, you should be in a much better position for next Christmas.
We also have a range of Money Management Sessions where we can practically help you through this process. You can either attend our Online Sessions starting in January or if you’re local to Eastbourne then sign up for the Money Management Sessions at the Seaside Community Hub, funded by Eastbourne Borough Council.
However you manage your debts in the New Year, remember that the most important important thing is that you do tackle them and we can help you do that and even start your own Christmas Savings Pot for Next Year.
Contact Us if you need to talk more.
