Festive Period Debt
Everyone wants to give their partners and family the best Christmas that they can, but there are ways to do that without running up unnecessary and unaffordable debt.
Remember spending time with the family down at the beach or the park are inexpensive ways of treating the family, and will be more memorable than buying presents for them that you just cannot afford, and will be paying for, for the rest of the year.
If you do splash out, then don’t do so without ensuring that your priority bills such as your mortgage, utilities, and the household bills are covered first and that you can still afford to pay your existing commitments on your loans and credit cards and that you at least avoid late payment penalties and charges. Spend wisely at this time of the year.
Ways to avoid Christmas debt
Set a budget and stick to it
Plan ahead – save a little each pay to give you a buffer for extra spending
Purchase gifts throughout the year and spread the cost
Keep track and control of spending over the festive period
Stay within your bank balance and credit limit to make sure you don’t face any penalties, overdraft charges or interest.
Have a look at types of debt:
BUSINESS
RATES
UTILITIES
RENT
CREDIT CARDS
HP
MORTGAGE
GOVERNMENT
PERSONAL LOAN
STUDENT LOAN
PEER TO PEER LOANS
PAYDAY LOAN
FRIENDS & FAMILY
CONSUMER FINANCE
GAMBLING
FESTIVE DEBT
