New year 'good time' to seek debt relief
Published On 28 December 2007
The start of a new year is the ideal time to start afresh by assessing finances and seeking debt relief where it is needed.James Falla, director of Thomas Charles debt consultancy, said that Christmas can make it tough for people to curb their spending.
"I think it's always difficult for people in December, but at the end of the day, the new year is absolutely the right time psychologically to turn over a new leaf," he said.
According to research by Thomas Charles and YouGov, 15 per cent of Britons are in 'serious debt' - owing more than £10,000.
Mr Falla advised Britons to start by making a budget. "It's quite a simple thing, but understand what money is coming in and what money is coming out, so you can work out yourself what you should be spending."
It is a good idea to get into the habit of saving for purchases, rather than putting them on credit. "It sounds very simple, but in fact the amount of people that don't do that is quite considerable," Mr Falla said.
