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Christmas Borrowing is Not Helpful or Worthwhile

Getting prepared for Christmas is as exciting as it is hectic and requires methodical organisation in order to be ready when your family gather together. With children jumping with joy at the prospect of Santa making a quick visit there can be a heavy financial burden on millions of Brits. Christmas, for all its commercial advertising, is all about spending valuable time with your families and enjoying each other’s company with a selection of seasonal food and fun activities. However, studies suggest a large number of families worsen their debts around this time.

Damning figures released by Money Advice Service research conveyed Christmas’ dangers in causing overspending because of the immense anticipation towards this uplifting event. This study revealed that a staggering 1.4 million British citizens will take out payday loans to make the time of year special for companies benefitting from such hyper-commercialisation. While this may look a prosperous short-term idea, it will result in damaging financial implications further down the line. It is safer to err on the side of caution when buying Christmas goods if you are in a troubling financial situation. Buying an extra electrical appliance will be gratefully received on Christmas Day, but could seem like an unnecessary gift if you are struggling to make regular payments well into the New Year.

Christmas in the UK is predicted to cost a jaw-dropping £26 billion in 2104 – an increase of £2 billion from a year ago. Therefore, it is not surprising that an increase in debts from payday lenders has arisen. Covering costs in December can place even more strain on already tight finances and the solution is not borrowing cash with rapidly rising interest rates. This is where Council Tax Advisors can be of assistance. We give free and impartial advice for anyone who is anxious about combining paying their bills with paying for essential items at Christmas time.

It is important not to lose sight of your council tax payment plan while you plan what to purchase in preparation for December’s big event. There is no need to worsen the current state of your financial affairs believing payday companies are the answer when their representatives promote short-term loans. Unlike these misleading companies, at Council Tax Advisors we take some responsibility for the advice we give our clients. We specialise in organising debt repayments and payment plans with bailiffs and councils on your behalf. Affordable solutions are reached, ensuring you have a huge weight taken off your shoulders this Christmas.

The festive season should be a relaxing time, rather than fretting over whether or not you should have trusted a payday loan company. It is highly likely that the answer will be a resounding no.  Contrastingly, we offer a very reliable service at Council Tax Advisors without being motivated by profit. We were formed on the back of our experiences will bailiffs so are in tune with the pressures you are going through. That is how we are able to give you sustainable long-term payment solutions.

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