Getting Back on Track After Summer
Have you overindulged this summer? BBQs, holidays and socialising in the sun has probably taken its toll on both your wallet as well as your waistline, reign in back in with help from Ferratum.
Summer time is all about loosening our grip on life, relaxing and indulging. We all eat and drink a little bit more than we should, sleep odd hours and break our normal routines. Hey, it’s all part of the summer fun!
But all those extra social activities, meals and days out may have meant breaking your budget. You can’t put a price on memories with friends and family, right?
But now summer is over, it’s time to get back on track. This means getting back to eating healthily, getting back into our routines and getting on top of our finances.
Face the Music...And Then the Bank
It might be a scary prospect but the first thing to do after returning from our summer holidays is to face the music. And this means looking at our debts.
Have you gone a little crazy on your credit card? Edged into your overdraft? Dipped into your rainy-day fund? If you financed summer with one of these, then you need to prioritise paying it back.
Work out how long you want to give yourself to pay it back and then work out how much you need to factor into your budget.
Right Here, Right Now
If your summer overspending on holiday has meant you’ve used up your salary a bit early this month, then consider what would happen if you have a financial emergency. If you need a top up to keep you going until you get paid, then short-term loans from Ferratum can help, and are perfect for one off situations like this.
Carefully Laid Plans
Once you’ve worked out how to handle the short term, and with your budget in hand, it’s important to consider whether you can handle the costs. If you feel like your overspending is going to impact you for longer than a month or two, consider picking up an additional source of income.
Can you offer your skills and pick up some freelance work for a few hours a week or on the weekend? Maybe a part time evening job is the answer?
Whatever you decide, it’s important to feel in control of your finances and not let anything dim the afterglow of an amazing summer.
Do you have any tips for getting back on track after summer to share with the community? Head over to Facebook and let us know. And for more advice on managing your finances after summer, why not read about how to be more prepared for unexpected expenses…
|Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Representative example: APR 1270% if borrowing £400 for 4 months. Interest rate: 292% p.a. (fixed). Total amount repayable: £665.48 by four instalments of £166.37. Maximum representative APR: 1604% if full loan repaid after 7 days.|