Citizens Advice counsels against "New Year headache"

03/12/2008

Personal financial concerns are mounting this Christmas - meaning that British households should be "savvy" with their money, according to new analysis from Citizens Advice.

The charity said that it expects a "surge" in debt enquiries at its bureaux once the festive celebrations are over.

Citizens Advice's own figures show that mortgage and other secured loan problems enquiries are already up 35 per cent, year on year.

John Rhodes, head of financial capability at Citizens Advice said: "Christmas is a time of giving, but you don't want to give yourself a headache in the New Year with bills and debts you can't afford.

"It's all too easy to overspend - there are tempting offers and pressures to buy, but you must decide how much you can afford before you start spending."

He added: "If you do find yourself in difficulties then seek advice as soon as possible. Make sure that you are prioritising paying the bills which keep you in your home, warm and at liberty."

Citizens Advice also gave "top tips" to Christmas shoppers today, including making sure to plan early for the festive spend, not banking on an overdraft, to "keep things simple" and to "shop around" for the cheapest products.

Tags; Budgeting Advice, Young Family Finances, Credit Card Lifestyle,

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