Check out the 25 Christmas tips from our financial and employment support team to help you plan, budget and save money this year.
Be realistic and budget accordingly. Work out how much you are going to spend on each person – and stick to it. Manage expectations as to what you - or Santa - can give.
Be realistic and budget accordingly. Work out how much you are going to spend on each person – and stick to it. Manage expectations as to what you - or Santa - can give.
Remember that rent, the mortgage, utility bills, food bills and other existing debts still must be paid – and the consequences can be severe if they’re not. Christmas doesn’t have to be expensive to be happy.
Did you know in certain circumstances, when you run out of credit and need gas or electricity urgently, you can contact your supplier to ask for temporary extra credit? You will need to pay this back when you next top up. Contact your provider directly for more information.
Studies suggest that each adult spends on average £550 over the Festive period.
Did you know that many of the top energy and water suppliers run assistance schemes to help people struggling to pay their energy bills? If you are struggling, you should contact your energy or water supplier for more information.
Did you know that you could be eligible to get £140 off your electricity bill for winter 2020 - 2021 under the Warm Home Discount Scheme?
Put a morning aside to review your spending and outgoings on your bank statement, and consider if you really need that music subscription or white goods warranty – you may be surprised how much you are able to save.
Put a morning aside to review your spending and outgoings on your bank statement, and consider if you really need that music subscription or white goods warranty – you may be surprised how much you are able to save.
If you do need more money, don’t just run up an overdraft without talking to your bank first. It will work out much more expensive.
If you can afford to pay for goods outright with cash, cheque, or debit card don’t be persuaded to take out extended credit agreements unless they really do work out cheaper. Often, they don’t.
Try as many different places as possible to find the best price. Buy what you want and not what other people say you need. Be wary of extended warranties; the cost of a repair could be less than the cost of the warranty.
If you must borrow to get you through Christmas, consider looking for 0% interest credit card deals and try to pay the debt off as soon as possible.
If you must borrow to get you through Christmas, consider looking for 0% interest credit card deals and try to pay the debt off as soon as possible.
Check your current credit score with one of the many free-to-use services now available and, crucially, keep checking it.
There’s a lot to remember at Christmas. If you’ve borrowed money don’t forget that it won’t be long before you have to make a payment. Make sure you pay on time where possible, even if it is only the minimum, or you will be faced with additional charges.
Be sure to check for loss of employment or mortgage protection on any insurance policies you may hold – many people don’t even realise they may have these in place.
Borrowers who have not yet had a mortgage holiday can request from their lender a pause in repayments that can last up to six months. Remember that the missed payments will need to be paid back at a future date and you could see your future repayments increase.
Borrowers who have not yet had a mortgage holiday can request from their lender a pause in repayments that can last up to six months. Remember that the missed payments will need to be paid back at a future date and you could see your future repayments increase.
Call us on 0808 802 8080. Lines are open from 8am-8pm every day.
You might be able to get a tax refund if you lost your job part way through the tax year and you were paying tax through PAYE.
Find out more about tax refunds here.
Did you know that you may be eligible for tax relief if you have been forced to work from home due to the Covid-19 pandemic?
If so, you should be entitled to a 25% single person discount on your annual Council Tax bill.
There are a lot of different benefits out there and it can be very overwhelming.
There are a lot of different benefits out there and it can be very overwhelming.
Consider completing a benefit check calculator or speak to us at the Legion for some advice on your situation.
We have a dedicated Benefits team that can advise you on challenging a decision.
Find out how we can support you with benefits.
You could be entitled to Personal Independence Payment.
Find out more about Personal Independence Payment.
Did you know you could be eligible for help with the shortfall in your rent if you receive Housing Benefit or the Housing element of Universal Credit, but you still cannot afford your rent? Contact your Local Council and ask to make a Discretionary Housing Payment application.
Once your immediate money matters are under control, try building an emergency fund that would cover your monthly costs for at least three months if your situation changes.
Once your immediate money matters are under control, try building an emergency fund that would cover your monthly costs for at least three months if your situation changes.
When Covid first hit, anyone who claimed Universal Credit or Working Tax Credit was granted an uplift of £20 per week for 12 months. It’s been confirmed this will not continue beyond April 2021. Start budgeting early for this change to avoid a shock next year.
It may seem too early, but once Christmas is over, it’s worth looking at what you did well and what you didn’t. Learn from any mistakes and start planning how you will do things differently next year. This might also be a good time to start saving for next Christmas.
Remember that we are here to support you or anyone you know who may be struggling.
If you need any help you can call us on 0808 802 8080, seven days a week, 8am-8pm.
