January can be tough. If Christmas spending has left your money tight, you are not alone. Many people feel the January blues finances — bills to pay, credit card debt, and everyday costs all adding up.
The good news? With the right support and credit union help in January, you can take back control of your money and start the year strong
Why January Can be Tough on your Finances
Many people feel stress after Christmas because:
- They spent more than usual
- Credit card balances arrive
- Energy and household bills go up
These are normal problems. But there are ways to deal with them using financial wellbeing support and simple steps.
How do I check my money after Christmas?
Step one is to know exactly what you owe. Avoiding it makes stress worse.
Make a list of:
- Debts and bills
- Minimum payments
- Interest rates
You don’t have to pay anything yet — this just gives you a clear picture.
Which bills should I pay first?
Priority bills are things you must pay first:
- Rent or mortgage
- Council tax
- Energy and water bills
Then look at your other expenses for January. Work out how much you have left after the priority bills, and your food and transport costs for the month, and check you have enough for all the minimum payments.
What’s the best way to stay on top of multiple debts?
Juggling multiple debts can feel overwhelming, but a few smart strategies make it easier:
- List all debts clearly – include balances, minimum payments, and due dates.
- Prioritise high-interest debts first – paying these off faster saves money in the long run.
- Set up a repayment schedule – use calendar reminders or budgeting apps to never miss a payment.
- Consider consolidating debts – combining smaller, high-interest debts into one affordable repayment reduces stress and fees.
- Stick to a realistic monthly plan – only commit to amounts you can comfortably afford each month.
Pro tip: Even small extra payments toward debt can reduce total interest and help you become debt-free faster.
How to Plan Ahead for Next Christmas
Can planning now reduce future money stress?
Yes! Planning ahead makes a big difference. Smart strategies include:
- Spread festive costs over months by saving in a seperate Savings Account. ESLCU offers a Christmas Savings Account, designed specifically to help members save for the festive season. You can set up regular contributions, track your progress, and build a lump sum gradually so that when December arrives, you have funds ready to cover gifts, treats, and celebrations without the stress of high-interest debt.
- Save while borrowing – If you plan to use credit this year, consider an ESLCU loan. With ESLCU, you can borrow and save all from the same repayment.
This helps you enjoy Christmas without high-interest credit and start January stress-free.
What Tools Can Help Me Manage My Money?
Managing money isn’t just about borrowing. ESLCU offer Financial well-being tools help you:
- Make budgets
- Save on a low income
- Get cost of living guidance
- Find advice from trusted organisations
These tools are free for everyone, not just members.
Can I Save Even When Money Is Tight?
Why do small savings matter?
Even small savings reduce the need to borrow in the future and help you build an emergency savings fund.
Members can save with ESLCU small amounts regularly, or as and when they can. PrizeSaver lets you save while having a chance to win cash prizes each month. All savings are protected by the FSCS, and easy access for when you need them.
How Can Salary Deduction Help Me Save?
What is salary deduction saving?
Salary deduction saving means money is taken straight from your wages into your ESLCU savings account before you spend it.
Benefits include:
- Saves automatically
- Harder to spend by accident
- Makes budgeting easier
- Builds long-term savings steadily
Even small amounts add up over time, making it perfect for those who want to build a safety net for unexpected costs or a special treat in the future.