CITIZENS Advice Bromsgrove and Redditch is braced for the busiest time of the year for debt advice as bills for Christmas land on doormats.
To help people kick off 2020 on a firmer financial footing, CABR offers six top tips to help people budget for 2020:
1. Work out how much you owe and how much you need to pay each month.
2. Prioritise your debts – rent or mortgage, energy and council tax bills are priority debts as there can be serious consequences if you don’t pay them. These should always be paid first.
3. Work out how much you can pay – create a budget by adding up essential living costs such as food and housing, and taking these away from your income.
Any money you have spare can be put towards your debts.
4. Paying urgent debts – you might have to contact priority creditors quickly in urgent situations, like if you are about to be evicted. Tell them you are seeking debt advice so you can find a way forward. Try to pay them something if you can afford to.
5. Paying non-urgent debts – if you have any money left after paying priority debts, contact your creditors and offer them what you can afford to pay.
6. If you can’t pay your debts – if you’ve got little or no money spare to pay your priority debts seek advice from us straight away.
For information and advice, contact Citizens Advice Bromsgrove and Redditch at Redditch Town Hall or 50-52 Birmingham Rd, Bromsgrove B61 0DD, or visit our website at www.bromsgrovecab.org.uk