Money Worries This Christmas, maybe we can help.

04/11/2011

Christmas is coming and money management is going to be a worrying issue. For many people, the signs of an approaching Christmas are initially met with a sense of dread. Many tend to dread Christmas because the worry is that all those Christmas gifts cost money and for most people, it is the most expensive time of the year.  

So there we have it – Christmas has successfully moved from a time of happiness, joy and abundance to a time of dread. We probably feel the only real gift we’ll get this Christmas is debt and money worries.

Such financial concerns are not new to this year, but they are on the increase, with the proportion of consumers left wondering how they can foot the bill up 7% from a year ago and 15% higher than the 2009 figure.

Research from the Money Advice Service showed that 760, 000 people in Northern Ireland are worried about day-to-day money and nearly 700, 000 people are unaware or unsure of where to find advice.

Head of banking at MoneySupermarket.com Kevin Mountford stated this was "no surprise" in the current economic climate. “This year will be tougher than most as a result of the increases in the cost of living and widespread pay freezes," he noted.

Dealing with such a situation may require a good budget planner, which can establish how much money there is available to set aside towards a bit of festive cheer, without creating a miserable new year. People should try to put a little bit away in a savings account on a regular basis or the alternative to saving would be to borrow it.

Why not give us a call here at Census Financial Planning on 028 90 668700 and see what we can do for you to make the most of your money this festive season? A wonderful Christmas and no new-year money worries – surely that’s something worth celebrating!

Paul Dixon
Chartered Financial Planning