Save Now to Reap Rewards Later
29 January 2010
As many families are still feeling the pinch after Christmas a north east telephone advice service is advising people to begin looking ahead now and start saving for the year ahead.
Christmas 2010 may be 11 months away but Liz Chadwick, Chief Executive of DAWN Advice, says it's never too early to start saving for next Christmas to avoid any unnecessary debts.
Liz said people should still be putting an emphasis on saving despite the UK emerging from recession this week. She added: "As the majority of people are still paying off Christmas 2009, and will be for some months to come, the next festive period is the last thing on their minds. However, appropriate planning and saving can help many families reduce future debts while taking away some of the stress which is often caused through financial worries.
"Saving through a credit union offers an easy and convenient way for people to save as you can set aside as much or as little each month to suit your circumstances."
As well as the usual costs associated with December, January soon became one of the coldest months for three decades so many people living in the region will see their heating bills sky-rocket - creating extra debts which many may not have anticipated.
Liz added: "While advising people to save large sums of money is extremely unrealistic in the current climate - saving smaller sums through a local credit union will soon start to build up, creating a slight cushion should unexpected bills arrive or which could be used to help make family celebrations more affordable."
As credit unions are not-for-profit organisations and owned by the people who hold accounts with them, as opposed to high-street banks and other financial institutions, customers know that their money is being held in their best interests. In addition to this many credit unions exist to further community development, allowing people to support their own community through simply banking with their local union.
Established in 1998, DAWN Advice is a social enterprise and a member of the UK's largest network of free, advice-providing organisations, adviceuk and a member of the National Association of Citizen's Advice Bureau.
Anyone worried about debt or who may benefit from further financial advice such contact DAWN Advice's Debt Team as soon as possible on 01670 785 512.