Don't get into debt this Christmas

Christmas is a time when it’s very easy to get into debt, but you don’t have to spend a fortune to make the holidays a success.

There are ways to keep a handle on your spending and avoid getting into trouble.

Surveys show around a quarter of people build up debts at Christmas because they feel they have to splurge on more than they need.  But you don’t if you use these hints.

• Start by making a list of what you really do need to buy. Only you can be sure what is essential. You’ll need presents and you’ll need food but do you really need everything else?  Once you’ve decided, put a price next to each thing. And when you go shopping - stick to it!  Don’t be tempted to spend a couple of extra pounds on each thing. It all adds up very quickly.
• Try to spread your spending. You can buy a few things in advance like non-perishable foods so you don’t have to budget for everything in Christmas week.  It’s a bit late this year, but next year you can start spending on presents much earlier so it doesn’t all happen at once.
• Give people time, not presents. And if you agree that with family and close friends first, they’ll appreciate not having to buy you anything in return!
• Don’t go to loan sharks. This is probably the most important one of all.  You’ll soon find your debt grows even bigger if you get into the grip of these unscrupulous people. Their offers seem reasonable at first, but if you don’t keep up your payments the extra charges and interest will become unmanageable.  You won’t know who they are, and some will seem like friends. To be safe, don’t borrow from anyone.