Is it time for a financial detox?

7 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.

“The pandemic has affected just about everyone’s personal finances in some way,” says Al Wollaston, secretary of Hertfordshire Police Federation, “For those who have seen their household incomes fall, Christmas could be a stretch financially so it is worth reading this guide and, if necessary, seeking help in managing debt or better managing their finances.

“January can be a very difficult month if you have over-stretched yourself in the run-up to Christmas so perhaps the New Year provides the perfect opportunity for a financial detox.”

Download the guide now.