As Christmas approaches, many of us feel the pressure to keep up appearances, buying gifts, attending parties, and embracing the festive season. While it’s natural to want to celebrate and fit in, it’s essential to remember that your home and essential bills must come first.
One of the leading causes of homelessness is a lack of financial literacy and the failure to prioritise critical expenses like rent or mortgage payments. The Christmas season, with its societal and social pressures, can tempt many into overspending or mismanaging their finances. Unfortunately, this can lead to financial strain and, in severe cases, housing insecurity or eviction.
At Severn Angels Housing & Support (SAHS), we understand how easy it is to get caught up in the excitement of the season. However, we want to remind everyone that financial stability is one of the most important gifts you can give yourself and your family.
The Risks of Overspending During the Holidays
The focus on festive cheer, shopping, and parties can sometimes overshadow the importance of managing essential bills. For many, the pressure to fit in or maintain appearances results in purchases they cannot afford, creating a domino effect of financial hardship that lasts well into the New Year.
Poor financial planning during this period often leads to:
- Missed Rent or Mortgage Payments- A critical factor in eviction and homelessness.
- Debt Accumulation- Overspending can quickly snowball into unmanageable debt.
- Increased Financial Anxiety –The stress of struggling to recover financially can impact mental and physical well-being.
Tips for Staying Financially Secure While Enjoying the Holidays
Here are a few practical steps to help you celebrate without compromising your financial or housing stability:
- Prioritise Essential Payments
- Rent or mortgage payments should always come first. Ensuring your housing remains secure through the holiday season and beyond is a priority.
- Set and Stick to a Budget
- Plan your holiday spending based on what you can afford. Staying within your budget avoids debt and ensures you enter the New Year on stable financial ground.
- Avoid Social Pressure
- It’s easy to feel the need to overspend to keep up with others. Remember, the true spirit of Christmas is about connection, not costly gifts. Focus on thoughtful, simple gestures that show you care without breaking the bank.
- Consider Meaningful Alternatives
- Instead of expensive gifts, explore alternatives like homemade items, shared experiences, or small but thoughtful tokens that hold sentimental value.
- Think Long-Term
- Before making a purchase, ask yourself if it’s worth sacrificing your financial stability or essential expenses. Think about the impact your choices today will have in January and beyond.
Resources for Financial Support
If you find yourself struggling with budgeting or prioritising your bills, there are resources available to help:
- Citizens Advice Bureau
- Phone: 0800 144 8848
- Website: www.citizensadvice.org.uk
- Free advice on managing bills, understanding debt, and accessing benefits.
- StepChange Debt Charity
- Phone: 0800 138 1111
- Website: www.stepchange.org
- Confidential debt advice and practical solutions for financial challenges.
- MoneyHelper
- Phone: 0800 138 7777
- Website: www.moneyhelper.org.uk
- Tools and guidance for budgeting and financial planning, especially during high-pressure seasons like Christmas.
- Shelter UK
- Helpline: 0808 800 4444
- Website: www.shelter.org.uk
- Expert advice on staying secure in your home and preventing homelessness.
A Mindful and Secure Christmas
This Christmas, let’s prioritise what truly matters, our safety, well-being, and housing security. By focusing on financial literacy and taking practical steps to manage holiday pressures, you can avoid unnecessary stress and ensure a safe, stable season for you and your loved ones.
From all of us at Severn Angels Housing & Support (SAHS), we wish you a happy and mindful holiday that puts your well-being first.
