According to debt advice charity National Debtline, 16 per cent of Britons – equivalent to around 7.9 million people - say they are likely to fall behind with their finances in January after spending too much at Christmas. *

January can be tough on all our finances, with festive costs stretching household expenses to the limit. Now is the time to get on top of things and seek help where it’s needed. This includes applying for an FTCT grant for essential items for you children. Find out more about our grants. 

Start today

Begin with checking your bank account to make sure you have enough money for the major utility bills; rent, mortgage, gas and electricity. There are other important payments too, like mobile phone bills or travel costs,  so check these are covered. Then start budgeting – week by week, until payday.

You can use the Money Advice Service’s FREE budget planner tool. It will help plan for the whole year and make you more aware of where you can save money each month.

Make simple changes for January

Try planning meals for the week and use leftovers for a meal the next day. Take a look in those kitchen cupboards and try some new homemade meals – get the children to help.

You will have to go to food shopping at some point – so plan ahead. Make a list and don’t give in to temptation and ‘buy one get two free offers’! Try buying supermarket own brand labels - give them a try and see if your family notice!

Now to make some money

Use the cold winter January evenings to stay home and sell some of your unwanted items online. Look out for local sale websites such as Gumtree or Facebook groups in your local area. You can sell kids toys, outgrown clothes, unwanted gifts. Clear your clutter and have a tidy sum to show for it!

Get help if you are struggling every month

If you are struggling to make ends meet every month, or your monthly income has reduced for whatever reason, seek help as soon as you can. In depth support may be needed to talk over your finances in more detail. The Money Advice Service is free and confidential and can help.

Grants for essential items

FTCT is dedicated to helping families who work in the UK fashion and textile industry. Grants are available for items for your children – school uniform, essential items for the family home or specialist support specific to your child. Don’t hesitate, find out what we can fund and how to apply, for more information on the support we might be able to offer your family.  

We can’t promise a Happy January, but we can help to make it a bit more manageable.