Take finances in hand in 2010

Ulster Unionist finance spokesperson, David McNarry MLA, has urged prudence when it comes to spending this Christmas, cautioning that "December spenders count the cost in January".

"While we all want to enjoy the festive season, the last thing anyone needs is any additional financial pressure at the end of what has already been a very tough year. Preparing financially for a realistic Christmas is the key to preventing a bad start to 2010.

"If you're struggling with debts, and they seem impossible to manage, make a New Year's resolution to tackle them head-on. Take advantage of the free advice that is out there and never assume that you are beyond help. The worst thing you can do is to ignore the problem - debts don't just go away," the Strangford MLA said.

"There are many areas to look at when seeking to take control of your finances, including the obvious first step of examining your expenses to see where you can make savings, selling non-essential items, ensuring that you're receiving all the money you're entitled to and of course being sure that you have exhausted all money-making avenues -including the likes of renting a room to a lodger.

"Having taken your personal budget in hand, you should contact your creditors in order to prioritise debts and make payment arrangements.

"You need never be alone in this - contact your local Citizens Advice Bureau (CAB), or phone the Consumer Credit Counselling Service (CCCS) on 0800 1381 111 between 8.00 am and 8.00 pm from Monday to Friday.

"Above all this Christmas, be honest with yourself, friends and family about what you - and Santa - can realistically afford. Keeping a roof over your head, food on the table and a warm home is much more important than the latest fad toy or an overly indulgent meal.

"Planning, forethought and a strict budget are the best ways to avoid Christmas debt. But, if spending does run out of control, don't abandon your plans. Sit down, re-think your strategy and minimise damage.

"Having done all these things, be sure to have a happy Christmas and I wish you a prosperous New Year."