Take Control of Post-Christmas Spending

January is the month when many people start to feel the impact of Christmas spending. It’s easy for costs to build up in December, especially when using credit cards, overdrafts, or Buy Now Pay Later to get through the festive period. If you’ve entered the new year with several different balances to manage, now is the right time to take control.

One practical way to do this is through debt consolidation. Rather than trying to juggle repayments across multiple credit cards, catalogues, loans, and overdrafts, consolidating everything into one affordable repayment can make it much easier to manage. It can also potentially reduce the amount of interest you pay overall, helping you clear your debt sooner.

At Gateway Credit Union, we see every January how helpful this approach can be. Members often tell us that having one fixed, predictable repayment each month removes a lot of the stress. It gives a clearer picture of what’s going out and when, rather than dealing with several different lenders charging different rates.

The Credit Union Difference: Saving While You Repay

What makes consolidation through a credit union different is the focus on financial wellbeing, not profit. As part of our ethical approach, our consolidation loans automatically build in a savings element. This means that while you’re repaying your loan, you’re also putting aside a small amount each month. By the time the loan is paid off, you have a pot of savings ready — which can act as a buffer, help prevent borrowing again, or be used towards next Christmas. You can withdraw these savings once your loan is fully repaid.

It’s a simple idea, but it’s one that has helped many members get back on track after the pressure of the festive period. Starting the year by tidying up your borrowing can make a real difference to your financial stability in the months ahead.

If you’re feeling the weight of Christmas debt, you’re not alone — and you don’t have to deal with it on your own. A credit union approach is designed to support, not judge, and to help you move forward with confidence.

For more information about consolidating debt with Gateway Credit Union, or to check if it may be right for you, visit our website or get in touch with our friendly team.