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Helpline calls from people worried about debt have surged in January as energy bills rise and credit payments for Christmas spending are due. National Debtline received 57% more calls in the first two weeks of January compared with the same period last year. The first Monday of the new year was its “busiest ever”, according to the Money Advice Trust, which runs the line.
Concerned callers were often behind with energy and water bills and many owed money to family and friends, the charity said. But, as many people vow to tackle unmanageable debts this year, some have taken to social media to document their journeys to becoming debt-free.
The BBC has spoken to people who once owed thousands of pounds to find out how they cleared, or are working to escape, their debts. They have joined a host of charities, such as Citizens Advice – which has also seen a rise in calls – in urging people to address their money worries.
Rachel Hargreaves said seeing other parents posting presents for their children on Instagram used to trigger her overspending – even as her mortgage and household bills went up. Now, she is using her social media account to record her progress in clearing more than £7,000 and to get support in the process.
Using cash, rather than cards, to make it clear how much was being spent helped maintain control, she said. Delete card details from online shopping accounts, she advised.
Now, they lock money into virtual pots in their bank account that only open on certain days – such as a budget for food every week, and others for birthdays, with extra going into a savings pot. This Christmas emphasised time spent with the family, rather than money spent on presents, so January has been stress-free.
When Rob Smale’s marriage ended he said his mental health deteriorated and his financial position nosedived. At one point he owed £35,000 due to spending on multiple credit cards and gambling. The 58-year-old is still looking for a job, having made more than 300 applications, but his financial situation is now much more healthy.
He puts that down to “an odd combination of dealing with big and little things” – ranging from knowing when the discount yellow stickers are added to items in the supermarket, to seeking help from a debt charity. He said the breathing space scheme, which gives people temporary respite from creditors, was crucial for anyone to get some sense of control over their finances.
“Ask for help and be aware,” he said. “Sometimes it’s just about creating better habits. It’s better to stay out of trouble, but not to panic when you are.”
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