Indebted urged to plan for new year
Published On 9 January 2008
People in the UK are being encouraged to take control of their finances as 2008 gets under way and repay any Christmas overspending.According to the Department for Work and Pensions, 55 per cent of people in the UK spent more than they can afford during the festive period.
Despite this, the government's report found that 45 per cent of people do budget for seasonal spending, planning ahead to avoid getting into debt.
"Struggling to pay the bills after Christmas is a situation that many people find themselves in and it can be very stressful," said Susan Clark from Jobcentre Plus.
"Short-term fixes provide temporary relief but getting a job is the best way to improve your financial situation in the long-term."
A survey from the Financial Services Authority revealed recently that 48 per cent of people are more likely to book a holiday or go on a diet than review their finances in January.
