How to beat the real winter blues and get over the cost of Christmas

by Ryan on January 7, 2016

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The average Briton will spend in excess of £838 this Christmas, as they look to cover the spiralling cost of food, beverages and gifts. Despite this, the national average wage shows no such excess, as it remains fairly stagnant while the cost of living increases.

As a result of this, many households struggle to cover the cost of Christmas. Some may even feel the need to borrow in order to fund their spending activity, without considering their existing earnings or financial circumstances.

How to recover from Festive excess in three simple steps

With this in mind, what practical steps can you take to beat the winter blues and overcome financial hardship in January? Here are our suggestions: –

Consider taking out a Short-term Loan

Short-term lending is often misunderstood, but this is in fact a vehicle that can provide genuine financial relief when used responsibly. The key is to use a viable lending method, while also making a commitment to borrow an amount that can be comfortably repaid. Companies such as Trusttwo provide an excellent service to customers, as they deliver guarantor loans over a flexible period and at a competitive rate of interest. By working out the amount that you need (to cover festive costs) and comprehending a viable repayment plan, you can start the New Year without stress or anxiety.

Budget for January

Arguably the most important step is to budget for January, while reducing expenditure in a bid to recover the cost of Christmas. This type of proactive planning is vital, as it recognises the issue ahead of time and creates a manageable solution. It also enables you to identify areas in which you can save money in January, as you look to reduce the amount spent on entertainment and create more manageable expenditure goals. Above all else, this will create balance in your monthly spending and address and financial shortfall.

Make sacrifices to save your hard-earned money

While budgeting is a great theoretical tool, it needs to be applied in a practical and manageable manner. In real terms, this means making sacrifices in your daily routine and habit in a bid to cut costs, whether this revolves around your regular commute to work or the amount that you spend on lunch. If you are willing to sacrifices and take the practical steps required to execute your budget, you will have the best possible chance to save money and ease the cost of Christmas.

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