It is now appears that the credit crunch is taking a grip over our every day life as many of us are having to put our plans on hold for 2009. Research at CreditExpert.co.uk shows that 75% of adults, the equivalent of 36 million people, are putting off life-changing moves due to the lack of available funds, including getting married or having a baby. Over half of us (55%) are now worried that we may never be able to reach our goals, such as owning our own home, due to affordability factors.

Jim Hodgkins, Managing Director of CreditExpert.co.uk, said: “There’s no doubt that uncertainty about future financial security for many people right now means putting plans on hold. One certainty is that those who are actively managing their money and understand their credit commitments can better plan for their future.”

1: Know your Budget – Doing the big weekly shop and then a couple of little ones during the week can make it really hard to know how much you are spending on your food bills. Keep hold of all your receipts and tally them up. If you know your true spending amount and what items you are spending the most on, you will be able to tell more clearly where you need to trim back on your spending.

2: Shop Online – We all knowing the saying that we should “never go shopping when we’re hungry” as we are likely to put more things on the trolley. But even if you had just had a good meal, supermarket special offers sometimes seem too good to resist! Shopping online means that you can avoid all of these end of isle temptations and only add to your virtual basket what you really need.

3: Create a Shopping List – Married up to number two, supermarkets deliberately place the special offers where you are more likely to see them meaning that you are more likely to purchase it! Having a shopping list and sticking to it means that you won’t buy more than you need to and you should be able to do the weekly shop a little quicker.

4: Drop Down a Brand – Many of us often stick to what we know, and they are usually branded products that we grew up with. But store brands are often much cheaper by and basics, such as sugar, paper towels and bread, are often indistinguishable to taste.

5: Leave the Kids at Home – Where possible leave your children at home is you want to speed up your speed of shopping whilst remaining tight control over your debt management. It is all too easy to say ‘yes’ when your children ask for a magazine, computer game and sweets!

6: Look Up and Look Down – Did you know that big brands pay extra to have their products displayed at eye-level? As the average shopper is more likely to pick up the first thing that they see. So looking up and looking down the shelves means that you can often find the same thing for cheaper.

It seems that more of us are looking reduce holiday debt, as there has been a decrease in city break searches by 20% and homes in Spain by 28%.

Although perhaps one good thing about this economic downturn is that more of us are actively searching for ways to keep our savings secure. Which? report that an increasing number of us are wanting to keep better grip on our savings, as the search for safe savings is up by 900%, compared to 2007.

Elan Dekel, product manager at Google, said: “This is a fascinating snapshot into how Britons are reacting to the current economic situation.”

The changes in financial circumstances are hitting many households who are actively cutting back on spending to avoid debt. This trend is expected to continue as outgoings, such as mortgage repayments and fuel bills, are steadily increasing.

Shona Dobbie, head of the Alliance Trust Research Centre, said: “”Our latest report highlights that consumers are starting to feel the pinch of financial reality, and are showing signs of reining in spending. Our measure of consumer wellbeing shows households are facing increased headwinds in terms of their finances, as food and energy prices move higher, house price growth slows and equity markets decline. These combined factors give us a bleak view of consumer spending and confidence for the next 12 months.”

But don’t panic if you already feel you have started the festive seasons by overspending, there are still a number of ways to have a credit crunch Christmas where you can cut unnecessary Christmas costs, such as:

1: Channeling your creative side: For those of you who are arty or feel as though you are neglecting your creative side, Christmas can be the perfect time to channel this talent by making your own Christmas gifts, cards, wrapping paper, gift tags etc. It may take a little forward planning but your friends and family will appreciate the effort you have made and it is far more personal than anything you can buy in the shops

2: Plan your Christmas food shop: There is no easier way to have a debt-free, stress-free, credit crunch Christmas than by planning in advance. There are a number of websites where you can check the prices of popular ingredients and use this to plan where you are going to do your shopping.
You may also be able to take advantage of online voucher codes by shopping online but watch out for additional delivery costs and remember to book your delivery slot as soon as you can so your groceries can be delivered as close to Christmas Day as possible, no-one likes a mouldy sprout!

3: Avoid the High-Street rush: Unless you are looking for something in particular, one way to have a credit crunch Christmas is to avoid the High Street altogether. You have better chance of finding the best deals online and there are a number of online comparison tools which can assist you in making sure you are getting the best deals. Don’t forget to see if there are any discount codes you can use or whether you can get cash back on your purchases.

4: Don’t undo your hard work in the sales: If you have got through a credit crunch Christmas pretty much unscathed, don’t undo your hard work and let the sales lead you seeking debt advice. Remember to shop sensibly in the January sales and make sure you only buy items you really want and cannot do without.

5: Don’t be in denial. If you are reading this and have already overspent over Christmas, there is no need to panic. One Advice are here to help you with any financial struggles you may be going through. No matter how bad your debt problem has got there is a debt solution, such as an IVA, debt management plan or even bankruptcy.
Don’t bury your head in the sand, contact one of our specialist debt advisors now for further advice by filling in the enquiry form to the right of this article.