The festive period is in full swing but if you feel as though your finances have been stretched a bit too far, you’ll be glad to know that assistance is available. Starting a New Year in debt isn’t much fun but with some good advice and guidance, you can make some good decisions to improve your finances.

Here are some quick tips for dealing with debt after Christmas

• Set a budget
• Open every financial statement
• Obtain free advice from financial experts

These are three simple steps but they can go a long way to helping you get back on your feet after the festive period.

One of the biggest problems that people have with managing their finances comes with the fact that they never actually know how much debt they have or how much money they are paying off every month. How many people have hidden or long-forgotten Direct Debits in their account which drain money that they thought they had to spend. This is why it is important to review your finances properly and setting a budget is a very effective way of doing this.

You need to know what you are dealing with

Of course, to ensure that you are paying off every bill, you need to know about every bill you have and this is why opening every bill, letter and financial statement you have is vital. Ignorance certainly isn’t bliss when it comes to dealing with finances so if you are looking to make the most of the opportunity to clear debt, you need to know exactly what you are dealing with. This can be painful but unless you take this sort of action, you are never going to place yourself in a position where you can free yourself from debt.

You should also speak to the financial experts about your finances, and as early as you possibly can. Taking this course of action will ensure that you are given the best advice and guidance, which can be crucial when it comes to getting yourself back on track when it comes to dealing with money. Getting out of debt isn’t easy or fun but if you want to enjoy life to the full in the future, these are steps that you need to take now.

There is also a great deal to be said for looking into the benefits provided by a guarantor loan. With this style of loan, you will find that the APR is highly attractive, which is going to be of considerable benefit in getting out of debt.