Now that the excitement of Christmas is over, many of us have finally taken the plunge to sit down and actually review our expenditure & savings. If you're like me, this isn't the happiest of pictures; with January's payday still weeks away.

If this sounds familiar, don't worry; you're one of the millions of families [me very much included] who land in this same position every year. The five-week mont after Christmas is always a tough one; seemingly lasting forever with payday just so far away

You could always look into taking out a small loan to help tide you over, through these immediate cash crunches. This can be a fast and easy way to get your hands on the cash you desperately need; often in your account within 24 hours. Read on to learn a few more ideas on how you can tackle the tight financial challenges often faced right after Christmas.

Photo by from Pexels

If you overspent a bit this Christmas, here's a few handy hints you can try to get back on track.

• Focus on how to prevent further financial damage; rather than worrying over the damage done to your finances. Try to set strict budgeting rules for the rest of the month - and stick to them. If you live in a household of a few people, let each family member know about the financial situation of the family and make sure that they all realise the importance of saving and budgeting.

• Avoid the use of your credit card. I know I'm terrible for this after Christmas... the sales [I'm looking at you Cult / Pretty Little Thing!] make me feel like I just need to buy the world. Try to only use cash to get a real sense of your expenditures & savings, or you may end up reoffending in overspending! If you don’t have the cash to buy something, do not buy it. It might be a good idea to lock away all your credit cards and use only cash in those post- Christmas weeks.

• Avoid unnecessary shopping and start on a strict note every week. Don’t go for 'unplanned' shopping trips or events and try to cook at home. Avoid wandering around the sales aimlessly and try not to get lured to as many of those 'evenings out' with your friends; where you go for one drink & come home 9 hours later.

• You might have a couple of gifted items that you really don’t need. Why not sell them online to make some extra cash and boost your bank balance? There are always some unnecessary gifts or unused, excess supplies that accumulate over Christmas. Look around for anything that you really don’t need and put it up for sale. eBay is bae.

• Involve the whole family into the post-Christmas budgeting efforts and make everyone feel responsible. A joint effort is sure to make some real difference to your cash situation, and you may be surprised as to how quickly you can make some neat savings. Gradually, your bank balance should become more stable and healthy.

Make a fresh start this year with no financial worries over your head. After all, you deserve to enjoy your New Year as much as Christmas. One thing I always intend to do - and should do this year, will be to start planning a bit earlier when it comes to Christmas shopping; to avoid this situation again. With dat extra cash in my pocket, I'm sure it'd help me to better enjoy a carefree December with enough ££ to keep on partying well into the New Year

Why not start saving for all that dream holiday and the festivals you've always wanted to go to this year? These tips can really help you on your way.
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