The office of fair trading is encouraging people with financial concerns to use its quick and easy budget planner to avoid starting the New Year in debt.
The OFT’s budget planner is available on its website and provides a simple template designed to help individuals keep track of their spending.
The planner helps prevent overspending by recording monthly outgoings such as rent, travel costs, household bills, and loan repayments.
Once such essential expenses are accounted for, the planner shows how much is available to spend for Christmas.
Budget Planner
Tim Glover MHK, Chair of the OFT, said: “It’s all too easy for Christmas cheer to turn into a debt hangover in January. But by budgeting carefully, you can avoid the heartache and ensure the holidays remain joyful and stress-free.”
He added: “People should never feel embarrassed if they are experiencing financial difficulties. If they do, we have qualified counsellors ready to listen and offer advice to help them get back on track.”
The OFT’s free and confidential debt counselling service offers practical advice and support to anyone struggling with debt or worried about holiday overspending.
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