Ferratum UK found that Christmas can be a very difficult time for families. 41% said they were worried they wouldn’t have enough money to pay for Christmas 2017. It’s a time of excess after all and let’s be honest we can get a little carried away, our bank accounts take a beating.  Then you have Blue Monday the most depressing day of the year to look forward to in January.

Ideally its best to budget, you can read an earlier post of mine about saving money on Christmas shopping which might give you some tips for next year, but most of all try to show some kind of restraint when it comes to those present piles! My boys had quite a lot, but I am fortunate blogging helps with a few bits and pieces. Plus, I don’t have many people to buy for outside the immediate family, for those with more to purchase it must be tough.

Ferratum UK also found that 27% of those surveyed had planned to borrow money to pay for Christmas. This means that the New Year can be quite challenging, juggling that additional debt and possibly worrying how you will manage Christmas 2018. The problem just keeps on escalating. Much better to save for Christmas than get into debt, it will help ward off the post-Christmas melancholy!!! You can see the full results of their survey over on their website.

Too Much Pressure

I understand why people do though.  There is too much pressure to give children a wonderful Christmas that parents feel forced to spend money they don’t have. I don’t think Santa helps because he is “magical” in children’s eyes.  They don’t get that he can’t bring them whatever they ask for.  I am quite relieved youngest doesn’t believe in Santa anymore and don’t mind eldest joining suit shortly. It isn’t so unrealistic.  My children will understand if WE can’t afford something it won’t magically appear on the day regardless.

42% have hidden debt from their partner, friends, or family. This can cause real problems in the future, when your loved one finds out they will be understandably hurt and trust will have been lost.

You can soon see why January the 15th is coined Blue Monday but you can do things to help:

Face up to the problem

It might seem easier to hide your head in the sand, but open your bank statements see what you can cut back to clear Christmas 2017 and then make a conscious effort to save up for Christmas 2018. Be honest with those you love, feel the weight lift off your shoulders. Take responsibility and accept we are only human and make mistakes.

Remind yourself you are half way to payday

Your financial situation will hopefully look better soon! Try and remain positive, its not all doom and gloom. I always remember how February and March are free council tax months so that is a big helping hand! I love that its calculated as 10 installments as that break seems like a windfall when it comes around.  Little wins like that to look forward to help take the edge off Blue Monday.

Don’t set unrealistic resolutions

It’s best not to put too much pressure on yourself as soon as you start a New Year. You only feel disappointed if it doesn’t work out, be realistic about what you can achieve. Just try and make small changes so you don’t have the same issues to face next year.