THE SPARK BLOG

Christmas Concerns

Scotcash - Sharon MacPherson
Christmas is known as a time for giving, for spending time with family and friends, and enjoying the festivities. But it can also be a time of strain, both financially, and for relationships with those around you. Our guest blogger, Sharon MacPherson (Scotcash CEO) has some useful advice on how to avoid finances getting on top of you this Christmas.

How are you planning to pay for Christmas?

The costs can add up quickly when buying presents, decorations, clothes, food and drink. Have you already planned how much you’ll be spending on these items? Plan how much you can afford to spend this Christmas by setting a budget and try to stick within it to avoid a Christmas cash hangover.

Knowing your expenses before you start can help you avoid spending more than you can afford – to help with this try using the Money Advice Service Christmas Budget Planner which is a great way to help you set a budget for the festive season.

You are not alone in the struggle to manage the rising cost of Christmas, below are some interesting facts on how people coped last year:

The average person spent £469 on gifts, food, drink and socialising at Christmas in 2014.

More than one in four Christmas spenders (25%) admitted they spent more than the previous year by £110 and just under a third admitted they overspent at Christmas.

One in four people still had outstanding Christmas payments at the start of February last year, with the hangover expected to last to well into April.

A third of people polled thought that they might have to make cutbacks to other non-essential items to be able to pay for the cost of the previous Christmas.

To help you budget more effectively, Scotcash provides affordable loans and now accept online and telephone applications.  Services also include opening Savings Accounts with several local Credit Unions to help you save for next Christmas, or other expensive events throughout the year. Contact Scotcash in the New Year if this is something you need help with, call 0141 276 0525 or check out www.scotcash.net/ to find out more.

If your relationships are impacted by money worries, or any other stresses you have, you can call the Relationship Helpline for immediate support on 0808 802 2088. It helps to talk, and to be listened to.

 

Financial, Guest Blogger, Topical