Christmas is a time of giving, but you don’t want to give yourself a headache in the New Year with bills and debts you can’t afford.

It’s all too easy to overspend as there are tempting offers and pressures to buy, but you must decide how much you can afford before you start spending.

It’s best not to get into the habit of spending and building up debts.

Check out our five top tips to avoid a Christmas debt hangover.

1: Plan early for Christmas gifts

Be realistic and budget accordingly. Work out how much you are going to spend on each person and stick to it. Manage everyone’s expectations as to what you or Santa can give.

2: Don’t forget to pay the everyday bills

Remember that rent, the mortgage, utility bills, food bills and other existing debts still have to be paid and the consequences can be severe if they’re not. Even though it’s Christmas, don’t let these bills slip.

3: Don’t bank on an overdraft and avoid pay day lenders

If you do need more money, don’t just run up an overdraft without talking to your bank first as it’ll work out much more expensive. Pay day lenders still charge high interest rates so that quick online loan could end up costing more than you think. Do check the full payback amount and keep to the payment dates.

4: Keep things simple

If you can afford to pay for your goods outright by cash, cheque or debit card, don’t be persuaded to take out extended credit agreements unless they really do work out cheaper.

5: Shop around

Try as many different places as possible to find the best price. Buy what you want and not what other people say you need. Beware of extended warranties as the cost of a repair could be less than the cost of the warranty.

Once Christmas is over it’s worth looking at the bargains in the shops as lots of Christmas stuff is discounted and you can stock up on cards and decorations cheaply.

We will be open from Wednesday, January 2, 2019 if you require advice and support. You can contact us by calling 03444 111 444, email via our website www.southlakescab.org.uk or by dropping into our sessions. You can also obtain advice on the Citizens Advice website at www.citizensadvice.org.uk.

South Lakes Citizens Advice offers free, confidential, impartial and independent advice on any aspect of debt, consumer problems, benefits, housing, employment or any other problems. We have various outlets across South Lakeland and can also give advice over the phone – telephone 03444 111 444 for an appointment and help, 015394 46464 for debt and on-going inquiries.