Is it time for a financial detox?

4 December 2020

The Police Federation is encouraging members to take control of their money over the Christmas period and into the New Year.

It is signposting officers to a handy new factsheet produced by Police Mutual, which tells you all you need to know about a financial detox.

Tips include setting a budget for daily household costs, holidays and entertainment as well as emergency expenses, and planning your year which will give you an idea of where you need to limit your spending.

The factsheet also gives advice on managing debt, where to cut back and how to get help if you need it.

Tony Wetton, Derbyshire Police Federation chair, said: “January is usually the month when you understand just how much Christmas has cost you. Every year, thousands of people dread the credit card bills arriving and this is when the financial hangover from Christmas becomes reality.

“So, why not think about it now and stop January being the month we all fear?”

The Police Mutual factsheet also includes tips to help make Christmas more affordable.

Advice includes making a list and sticking to it, not panic buying and making space, and some money, by selling items that are no longer used or played with.

Download the guide now.