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Payday Warning from King's Lynn Citizen's Advice Bureau

Payday Warning from King's Lynn Citizen's Advice Bureau

Published by KLFM
8:55am 27th November 2014.

It's payday for many of us this week, and it marks the start of the busy Christmas Shopping season.

But a West Norfolk Charity is asking us to stop and think carefully before we start spending.

The Citizens Advice Bureau says pressure to buy big gifts, and lots of extra food, will mean we end up overdrawn, or tempted by pay-day lenders.

Farah Raza from the CAB in King's Lynn says if you do, you're saving up big problems for the end of January when the bills arrive:

“It always comes back in January. You’ll have the credit card bills and bank statements coming through, and the first payments are due. You realise that you’ve overspent and you can’t afford the payments back. So budget, put a little aside and have a cheaper Christmas.”

Farah says if you’ve not done it before, it really is very simple, but simply not enough people are doing it:

“It’s a matter of getting down to it, writing down your finances. What money have you got coming in? What bills do you have to pay? Bills, rent, day to day living are all your first priorities. After that, whatever you have left over, that’s what you put towards the holiday festivities.”