Consumer Director, Mary O’Dea said, “The New Year is traditionally a time when people make resolutions to do all sorts of things, including sorting out their finances. And as Christmas is usually the most expensive time of year for many people, now is a good time to look at your post-Christmas financial situation and start off the New Year as you mean to go on. This might mean spending some time working out your budget, dealing with your debts, or starting to save regularly. But whatever your financial concerns, the most important thing is to find out what you can do to address the situation.”

The Financial Regulator’s research shows that 7 in 10 people have money worries on their mind at least some of the time. The financial issues that worry people include:

· Not having any/enough savings – 19%
· Not being able to make ends meet – 17%
· Overspending at Christmas – 17%
· Paying off debts – 16%
· Not having a pension sorted out – 10%
· Not being able to get on the property ladder – 7%

Mary O’Dea added, “While there are a variety of concerns for people, this research highlights the need to budget and manage your money to avoid financial worries. While everyone may find themselves a little stretched after Christmas, if you find that you are constantly relying on your credit card for day-to-day spending, or you never have quite enough money to make ends meet, you could start the New Year by making a budget so you can take more control over your finances. Budgeting will also help you to pay off your debts, avoid getting into further debt and save money for emergencies or to achieve your financial goals. Our website itsyourmoney.ie has a variety of resources, including an online budget planner, to help you get started.”

“While this research shows the range of people’s financial concerns, a third of people said that nothing worries them about their finances. It could be the case that they have their finances fully under control, or it could be that they have not given the matter much thought. Even if you are fully confident about your financial situation, take a bit of time over the New Year to see whether you should make a few changes.”

The Financial Regulator’s personal finance website, itsyourmoney.ie provides information to help people makeover their finances this New Year, with information and tips on budgeting, tackling your debts and starting to save. The online cost comparisons can also help people to get value for their money on banking and insurance products.