Monday, 18 January 2016

Blue Monday can be an opportunity to sort out your Post-Christmas finances

Here is something to cheer everybody up – Blue Monday is upon us, the most depressing day of the year.

Post-Christmas blues? New Year’s resolutions in tatters? Debts racking up and it’s dark winter nights, cold and wet with the sun in hibernation.

The third Monday in January has been dubbed Blue Monday. It's supposedly a combination of the weather, debt problems, low motivation, a return to work after Christmas and abandoned New Year resolutions.

Demand for debt advice will spike as credit card and other bills hit the doorsteps. This can be a difficult time of the year for people in the Borough because as post-Christmas bills and credit card statements arrive people can often feel weighed down.

According to Aviva family debt is now at its highest level since 2013 and has risen by £4000 in the last 6 months.

With household debt across the country on the rise, more and more people are finding it difficult to get their personal finances in order so it is important that people do not allow themselves to enter into more debt by borrowing more.

While it may sound negative ‘Blue Monday’ can be an opportunity to sort out debts and regain control of personal finances.

While there is no magic bullet there is help available. Reaching out to organisations such as Citizens Advice, StepChange Debt Charity and other agencies for free and independent financial advice and assistance can be the first step on getting your personal finances back on track.

When a budget and plan is in place, a clear path to better days is formed which can only help blow away those Monday blues.

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