As we head into January we can’t switch on our TV without being bombarded by diet and exercise tips promising that “killer body”. Indeed, January has always been synonymous with diets and exercise plans after the over indulgence of Christmas and with a surge in gym subscriptions, slimming classes, healthy eating options and Dry   January it seems like many of us are committed to starting 2019 as healthy as we can possibly be.  However, one area of our lives that we can often neglect, has a massive impact on how we get on in 2019 and is often forgotten about in the media is our financial health.   With the high cost of Christmas gifts for the family, festive parties and  over indulgence we can often find ourselves getting too much into the Christmas spirit and  as a result our finances can take a battering.  Getting a grip on our financial health is important to maintain our mental and physical health ensuring that we don’t start 2019 on a slippery slope of never ending debt and financial ruin.   Credit unions are a fantastic source for affordable loans that can help to consolidate debt, ensuring that you are paying one rate of interest. In addition you can pay off debts and save at the same time, making sure that the thought of a much needed summer holiday keeping you going through those cold winter months becomes a reality!

Here are our quick tips to help you get a grip on your debt for 2019.                                             


Take stock of your finances, make a list and work out what you owe and how you go about repaying it. Make sure that you prioritise your debts so in essence debts that could have serious consequences if you don’t pay them, such as your rent or mortgage need to be prioritised first.   If you’ve got several debts think about consolidating them so that you condense them into one monthly manageable payment. This will ensure that you pay less interest and therefore pay less money overall.


If it’s not a priority or you don’t need it, it’s not worth getting in debt for!  Think about your weekly/monthly budget, if you’ve got more going out of your account than coming in, it really is time to get a grip on your finances and realise that you are living beyond your means. Reign your spending in. Take stock on your household bills, work out what is essential and what isn’t. That TV package might be a nice to have but are you really making use of all the channels? Maybe it’s time to negotiate with your provider for a better deal or to cancel it altogether. Instead the extra money you are saving could be invested into a savings account, helping you to save for the things you really do want like a summer holiday.         


Ok so you’ve managed to get through the festive season and the thought of Christmas 2019 seems like a long way off! However, it’s never too early to think about saving and credit unions help their members to save with dedicated Christmas savings accounts which lock funds away and make them available when the festivities approach. That way you can approach Christmas 2019 knowing that you have the funds in place to have a fantastic yuletide and face 2020 debt free!

For further details of your local credit union click here