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We've put together our top tips to help you keep money worries away in the New Year.
January can feel like a long month when you're trying to make your money stretch until pay day.
Many people struggle to make ends meet at this time of year for a number of reasons, including:
This time of year can be especially difficult for those who were already worried about money going into the festive season.
We want to help as many people as possible avoid feeling stressed or anxious as they enter the new year.
So, here are five things you can do to help take back control of your finances, turn things around, and get 2020 off to a positive start...
First things first: you need to understand your finances before you can begin to improve them.
Download our budgeting sheet to make a list of your income and outgoings. This will enable you to:
It can be hard to face your finances if you're worried about money.
This causes many people to ignore the situation, allowing their problems to get worse as time goes by.
The sooner you ask for help, the faster your money worries can be fixed.
Be brave, be bold and be honest with yourself if you're concerned about your finances so you can get the help you need.
Take our 60 second test now to find out more about your situation and what to do next.
If, like many people in the UK, you have credit cards or an overdraft you go in and out of each month, you could be paying more in fees, interest and charges than you are towards the amount you borrowed.
If this has been this situation for 18 months or more, this is called a 'persistent debt'.
It may not even feel like you're in debt at all, but by just increasing your monthly credit card payments slightly, or gradually reducing the amount of your overdraft you use each month, you could pay them off much faster, and in the long run, pay much less.
Use your monthly budget to see if you can afford to this.
This is one of the best things you can do if you're worried.
If you're feeling stressed, anxious, or your financial situation is getting you down, tell someone as soon as possible.
It's natural to worry that people will judge you or your situation.
But in reality, money worries are so widespread that most people are able to relate in some way, even if they haven't been through exactly the same situation as you.
Whether it's with friends, family, co-workers, your creditors or a charity like StepChange, simply talking about money is a huge step towards fixing any financial problems you may have. And it'll often make you feel a lot better too!
If you're still worried about debt, contact us right away.
We're here to offer free, personalised debt help, and you can get advice online 24/7 by using our handy tool.
We help hundreds of thousands of people every year.
Find out more about who we are, what we do, and why so many people trust us with their money worries.