Christmas Spending Advice From Thame CAB

Has Christmas become too commercialised is a question that is often asked at this time of year. That is for individuals to decide but the Thame and District CAB report that every year in January and February they see an increase in the number of people seeking debt advice. Christmas credit card bills are usually the last straw for people who are already struggling to cope on a tight budget.

We live in an affluent part of the country but hundreds of local people seek advice each year with debt problems. In some case, things have got so out of hand that bankruptcy may be the only way out. Perhaps it?s because we are surrounded by such obvious wealth that the pressures on ordinary people to spend are much greater. It is especially difficult for parents when their children clamour for the latest expensive gadget. Citizens Advice has five tips on how to keep out of debt this Christmas.

Be realistic about what you can afford.

Work out how much you are going to spend on each person – and stick to it. Try shopping just with cash and not using your credit cards.

Don’t just run up an overdraft without talking to your bank – this will be much more expensive than if you arrange it beforehand.

If you do need to use credit, shop around for the lowest rate.

If you do get into difficulties, get advice as soon as you can from Thame & District CAB. Tel 01844 217186

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