Christmas can be a very stressful time of year; from organising food and getting the family together, to buying every member of said family a gift can be particularly overwhelming around the festive season. Mums can often feel the pressure to make sure everything is perfect for the 25th, no matter what that may cost.
Of course, it’s totally understandable that the financial troubles that you try so hard to conceal can come with a handful of mental health issues. In fact, studies show that they do go hand-in-hand.
Payplan and SANE recently came together to bring the issue of debt to surface, and aid anyone who is under any financial stress to come forward and take full control of their budgeting.
PayPlan knows from its own experience, as one of the UK’s biggest free debt advice providers, that people feel the pressure at Christmas, with inquiries dropping by a quarter in December 2015, before rocketing up to 37% in January.
Jane Clack, money adviser at PayPlan, points out that it highlights a worrying trend:
“Every year, we see a very clear debt cycle,” said Jane. “People often start to struggle in the summer as they fork out for the annual family getaway and try to keep the kids entertained over the school holidays.
“There’s then very little gap before Christmas advertising campaigns begin. We hear from many individuals who get swept up with the whole idea of a big Christmas. It’s so easily done and we completely understand the pressure people face at this time of year. Of course, the harsh reality then hits in January, as our figures show. Looking at the last three years, inquiries have gone up by an average of 50% in the first month of the year.