As the COVID-19 guidance continues to change, individuals may be feeling anxious, particularly about their finances. Many of us are facing uncertain times and may be worried with Christmas fast approaching. Mental Health support during times like these are paramount, which is why Care first have worked tirelessly to ensure our services remain available 24/7 throughout the pandemic to provide emotional and practical support and ensure we have every aspect of your overall wellbeing covered.
Financial tips in the run up to Christmas
- Try not to plan the perfect Christmas – Work out what you can afford and then plan Christmas with your budget in mind. You could use the budgeting tool that is on page 2 of this article to help you with this. Sometimes it may be easy to think about having a brilliant Christmas and worrying about how much it costs next year. This could lead to trouble. After all Christmas is one day and you could end up paying for that one day for the whole of next year for example.
- Make a list – Impulse buying can add up and become expensive. Once you have your budget make a list and stick to it. This way you will get everything you need and you should stay within the budget you have set yourself.
- Avoid buying unnecessary gifts if you can – You could suggest not doing Christmas presents this year with friends and extended family members for example. Sometimes by you buying a gift for someone else they feel obligated to buy something back for around the same value. This could put a burden on them as well because they may be struggling financially.
- Think outside of the box – If you do still want to exchange presents with friends and extended family maybe there is another way of doing it, such as a secret Santa with a £10 limit on what you buy for example. Then everyone will only have to buy one gift and everyone will each receive a gift too.
- Utilise presents from last year – Maybe you received a present last year or a gift during the year that you did not really want or need. You could re-give this to someone else who may really appreciate it.
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Use cashback websites – You could shop via cashback websites to buy gifts from for Christmas. These websites usually give you a small percentage back just for going through their website. Make sure you do your reading on these first and be careful of scams. For more information on Cashback websites visit: https://www.moneysavingexpert.com/shopping/cashback-websites/
The Care first Budgeting Calculator
(Available at https://carefirst-lifestyle.co.uk/extranet/at-home/finances/budgeting-calculator)
How to use the Care first budgeting tool:
If you would like to try the Care first budgeting calculator this can be accessed using the link at the top of this page.
You will then need to enter your organisations unique login details, if you are unsure of your organisations login
details then check with your HR team or line manager. Once you have logged in then you can complete your details
on the above forms (all information is held confidentially). Once you have completed this your results will then appear
on the below form, helping you to budget your finances to a weekly, 4 weekly or monthly amount. You could use this
tool to help you to start to take control of your own finances.
Understand your current thoughts towards your finances
There are no right or wrong answers to the five questions below. Instead, use them as an indicator of whether you need to change something in your life or if you feel they are spiralling out of control.
1. Do you ever feel guilty about spending money? If so, think about why that could be.
2. Are you often worried about the amount of money that you have?
3. Do you feel comfortable talking about money with loved ones?
4. How happy are you to open a bill, or would you hide it and put it off?
5. If you are struggling to make repayments, how does it make you feel to speak to a professional to get help?
If you are experiencing problems with finances or dealing with debt, you can also contact Care first. Care first are an independent, leading provider of professional employee support services. Care first employ professionally qualified Counsellors and Information Specialists, who are experienced in helping people to deal with all kinds of practical and emotional issues. We recognise that having money worries and/ or being in debt can make you feel isolated, scared and anxious. It has a negative effect on your work, your health and your family. Making that initial request for help is always the most difficult – but once you have made that initial call you have taken the first step towards getting the right help to a better quality of life. Care first Counsellors are available 24/7 to support you with the emotional impact of financial difficulties.
Most people delay dealing with their money problems longer than they should. Finances are a core part of our lives and can be the root of many issues. Asking for help early on may help prevent problems later down the line. A good starting point would be to talk it all through confidentially with an Information Specialist at Care first, who will help you make informed choices about what to do and how to do it. Care first Information Specialists are not Financial Advisors but are money trained experts, so whether you are at breaking point and need ongoing guidance to resolve debts, or just have a simple question – our Information Specialists are here to help with a range of issues, some of which include; debt, budgeting, rent/mortgage arrears, reduced income, tax, benefits and many more.
All employees are eligible to use Care first, our services include; telephone counselling, information services and online support. Call Care first on the Freephone number provided by your organisation and you can speak to a professional in confidence.
If you would like to view the Webinar on ‘Budgeting for Christmas’ this is being delivered live on Thursday 16th September at 12pm, please use the below link to register for this session –
https://attendee.gotowebinar.com/register/4957681854398206477
If you are unable to join the webinar live, a recording of the session can be accessed using the same link
above after the webinar has taken place.