When the Festive Fun Turns into a Financial Hangover

The festive season is a time of celebrations, family gatherings and generosity. From gifts for loved ones to nights out with friends, it’s easy to get swept up in the spirit of giving and living in the moment. However, when January arrives, so too does “the bill” — the reality check moment when the credit card statements come in.

For many people in the UK, overspending during the holiday season is all too familiar. Surveys consistently show that a significant proportion of adults regret their festive purchases. In a recent poll, about 45% of Britons reported experiencing buyer’s remorse after spending on gifts and celebrations at Christmas, with many admitting they spent more than they could afford. The pressure to create memorable experiences can lead to unnecessary debt and a challenging start to the new year.

If you’re currently feeling the weight of post-holiday bills and are wondering how to get back on track, there are practical steps you can take to regain control of your finances and peace of mind.

1. Review Your Spending
   Start by examining your expenditures and identifying where you overspent. Understanding your spending patterns is the first step to changing them.

2. Set a Realistic Budget
   Create a month-by-month plan that prioritises essentials such as rent, bills, food and transportation before considering extras. Budgeting apps can help keep you accountable.

3. Prioritise Debt Repayment
   Focus on paying off high-interest debts first, even if it means temporarily reducing spending on non-essentials. Lowering interest charges will help you free up money more quickly.

4. Build a Small Savings Cushion
   Even a little emergency savings helps break the cycle of relying on credit. Start small and be consistent.

5. Avoid Impulse Purchases
   It may seem too late for this advice, especially after impulsive year-end shopping, but adopting this practice going forward can help you avoid further debt. Before making a purchase, ask yourself if the item is a want or a need. Waiting 24 hours before buying non-essential items often prevents regret.

Getting your finances back on track isn’t about achieving perfection; it’s about making intentional, steady progress. In addition to the steps above, consider seeking guidance from the One who owns all silver and gold (see Haggai 2:8) — God.

At the Prosperity with God Meetings, held every Monday, you can learn how to seek direction from Above and take meaningful steps toward the life you want to achieve. Join us at your nearest Universal Church.

Event: Prosperity with God Meetings
Day and time: Every Monday at 7.30pm (also at 7am, 10am and 3pm)
Location: Your nearest Universal Church

Sources: https://www.moneywellness.com/blog/half-of-brits-expect-to-overspend-at-christmas

https://www.yourmoney.com/household-bills/one-in-five-of-us-overspent-at-christmas

https://www.ons.gov.uk/peoplepopulationandcommunity/wellbeing/bulletins/publicopinionsandsocialtrendsgreatbritain