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Monday 15 January 2018 - so called 'Blue Monday' - is claimed to be the most depressing day of the year. For many, the concept of Blue Monday may be a bit of a talking point, a chance for a news story or a promotional opportunity, but for many others it will be a reality check, bringing home real feelings of despair and anguish.

Before I start, I'm not a counsellor but in my professional role, I have witnessed first-hand the pressure faced by someone in financial difficulty.

If my experience has taught me anything it's that talking through the issues, identifying people's fears and providing straightforward advice often allows people to see the road ahead more clearly.

I don't have a magic wand and I can't flick a switch that will make the financial stress go away but getting a plan, having someone to talk to and starting the process of dealing with the debt can make an immediate difference.  For most people there are often options available to deal with the issues and make sure their fears don't become a reality.

• Face it head on - If you know there is a problem then you have to deal with it.  The pressure will mount if you don't take action. Allowing others to take action against you relinquishes control and often can reduce the options that may be available to you.
• Don't lose focus on what really matters - Take a step back, focus on what really matters in your life.  Most of your fears won't happen, there are always options and whilst renting, downsizing or missing those weeks in the sun might not be what you want, you'll survive and more often than not be happier for it.
• Be honest with yourself and others - Often people try to gloss over the reality of the situation, bury their head and convince themselves and others that it will be alright.  They make promises they can't keep and these can be more damaging than admitting the truth.
• People will surprise you - I've met many husbands, wives, employees, creditors and customers over the years.  I explain my clients position to them and outline the options available.  9 times out of 10 their first concern is for the individual and what they can do to help.
• Be prepared to act - If you are not willing to change, offer something or even admit that there is an issue, it's unlikely anyone will be able to help you.  Your lifestyle may change. You may have to borrow from family. You may have to sell assets. But if you are prepared to offer something, a fair compromise can often be achieved that allows you to rebuild your financial sanity.

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• Are you facing a financial pressure?
• Are you struggling to pay your debts? 
• Maybe someone hasn't paid you and that means you can't pay your suppliers?
• Perhaps you don't have the cash available to pay your tax bill?​

Get in touch and have an informal chat with one of our advisors to see how we may be able to help.