Christmas debt tips given

A Consumer Credit Counselling Service spokeswoman urged consumers to start their debt management plan now in order to have a prosperous new year.

“People tend to stick their head in the sand when it comes to Christmas spending and worry about the consequences in the new year,” the spokeswoman told This Is Money.

“We expect to receive 40 per cent more calls than last year in the new year, although that is also to do with us employing more counsellors and growing as an organisation.”

Consumer finance writer Michael Clarke added his support for a debt management plan in the article, saying that it was better to be thought of as Scrooge than end up with the spectre of the debts of Christmas past in 2007.

“One of the most important messages is not to cut back on living expenses and household bills to pay for the increased costs. It’s far more important that you have food, warmth and a clean credit rating than your auntie Doris has a new scarf and hat,” he wrote.