Don’t fall into debt this Christmas
A high street at night decorated for Christmas and filled with people shopping.
“My children love Christmas and they’re already picking extra treats off the shelf when we go shopping, and telling me what presents they want. I really want to make it a special time for them, but times are tough and I can’t help worrying about overspending and getting into debt. What can I do to manage my finances during the holiday season, and where can I turn if I find myself struggling?”
The festive season can be a financially challenging time, and often borrowing money or using a credit card to fund Christmas can seem like your only option. But there are steps you can take to keep your spending under control and avoid falling into debt.
The first thing to do is make a budget and stick to it.
Consider who you're buying gifts for, what other seasonal expenses you have, and how much you can realistically afford to spend. Always keep receipts, or ask for gift receipts, in case you overspend and need to return something. And always keep in mind that household bills may be higher during this period due to colder weather and spending more time indoors.
We would recommend using MoneyHelper’s online budget planner to help you create and manage your budget:
Budget Planner | Free online budget planning tool | MoneyHelper
If you've built up debt, please don't ignore bills or letters.
Speak to the organisation you owe money to, as they may let you pay smaller amounts.
Pay 'priority debts' first, like rent, mortgage arrears, council tax, and energy bills. For other types of debt like credit cards or loans, gather all the information on what you owe, create a budget, and contact your creditors to set up an affordable repayment plan. This might seem scary, but it’s an important first step.
If your budget just doesn’t add up and you need help to afford essentials like bills and food, cost of living support is available on the Citizens Advice website.
You should contact us immediately if you’ve received court papers, are facing eviction or are expecting bailiffs.
Check to see if you’re eligible for the Winter Fuel Payment
It’s especially important to check if you’re eligible for the Winter Fuel Payment, which will now only be paid to those who receive Pension Credit or other means-tested benefits. If you make a claim for Pension Credit by 21 December, you might still receive the Winter Fuel Payment.
If you do find yourself struggling financially during or after the holidays, don't panic. Support is out there, and Norfolk Citizens Advice can help you understand what’s available.
We’re here to help you find a way forward.
Call us on Adviceline at 0800 144 8848, email us via our online advice form, or visit us in person at one of our offices.
Volunteer and make real change in peoples lives
We’re seeing more and more people needing support with managing energy costs, budgeting and debts as costs spiral.
As well as helping the local community, we know people who volunteer their time get a lot back. Whether it’s working as a team, learning new skills or campaigning on issues close to your heart, there are many fulfilling opportunities available.
We’ll give you all the training you need and would love to hear from you.
To find out more and apply, visit: Become a Volunteer Adviser — Norfolk Citizens Advice (ncab.org.uk)
