January is often a time when we look to cut back; however it’s likely that finances will feel a little tighter than usual this year. If you’re feeling the pinch, the New Year is the perfect time to make a fresh start on your finances. 

Our free, confidential, impartial advice can help you come up with a plan to pay back any money you owe, explore ways to budget better and increase your income, plus help you to save on your energy bills. 

We’ve put together some tips for dealing with debt early on and avoiding a debt hangover this winter. 

Get access to our judgement-free advice 

Talking to someone about your money problems is often the first step towards taking back control of your finances. We understand that money can be a difficult topic to talk about. Our advice is completely independent, confidential and non-judgemental, to help you move forward with peace of mind.  

Even if you have multiple debts or complex financial arrangements –  the earlier you come to our advisers, the sooner we can help come up with repayment options that work for you. 

Prioritise your debts  

When we talk about debt issues, we normally think about credit cards, loans, and hire purchases. However, the cost-of-living crisis has forced many of us to make difficult decisions when it comes to things as basic as heating our homes and putting food on the table. 

If you’ve fallen behind on your council tax, energy bills or household expenses, it’s important to address these debts first. We can help you look at all of your financial obligations and understand which payments you may need to prioritise, giving you back control of your situation. 

Speak to creditors early on

It’s easier to agree repayment plans with your creditors if you take early action on debt. Once serious action has been taken, it’s often much harder to come to an arrangement with a creditor. 

You can also ask someone to speak to your creditors on your behalf – contact us if you’d like to discuss this.

Maximise your income

While you’re addressing financial challenges, it can be helpful to find out if you can maximise your income. You may be entitled to claim specific benefits or to apply for grant support. 

You can use our free online benefit calculator to see what benefits you may be entitled to, or speak with our advisers to find out how to maximise your income and get support applying for grants and benefits. 

Save on your energy bills 

For many people, energy bills are going to be a big concern going into the New Year. Our energy advisers can help with a range of issues from dealing with energy debts, getting access to extra support or making sure your energy supply is safe and efficient. 

If energy worries are giving you a headache this winter, get in touch with our team today to discuss how you could save. 

Think about the benefits

Dealing with financial troubles can be off putting, and thinking of the benefits can help with motivation. Money issues can cause a huge amount of stress but taking positive action can have a significant impact on your wellbeing. Asking for help, making a plan, and putting small changes in place can all contribute to living debt-free in the future.

For more help with your finances, contact our specialist money advice team on 0808 278 7804.

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