An Cosantóir

www.military.ie the defence forces magazine | 33 Money Matters with anSaC Credit union By SGT BRENDAN HEALY & CPL RICKY MCCAUSLAND reMeMBer: Don't get stuck with a high interest loan this Christmas! Merry Christmas to all members of the Defence Forces from all the staff and volunteers at ANSAC Credit Union. At this time of year most of us begin to worry about the financial problems that are associated with the Christmas period. Be it presents, bills, parties, etc we all need to prioritise what is and what is not necessary when it comes to budgeting for Christmas. know your limit: sit down and plan your festive holidays before you head out to the shops. All gifts large or small can add up leaving you short of cash. So allocate money for each present and stick to it. Plan ahead: So you have done your budget and are ready to "shop till you drop". There are some things to consider when shopping for the family: 1. What do they have already? 2. How many people will give them more (think of Grandparents)? 3. What do they need? 4. What do they want? At present, members of the Defence Forces are feeling forced to take high interest loans from pay day money lenders. The rates that they offer are extortionate and add more financial pressure on households that are already struggling. These loans are very easy accessible but very hard to pay back. However, there is an alternative. On the 1st November ANSAC launched the Christmas express loan. The maximum loan that can be applied for is €2,500 at 7.9%pa (T&Cs apply). This initiative was launched to assist members who might be feeling worried about the festive season due to lack of planning or children's expectations. Use cash this Christmas, save yourself some credit card shock tomorrow by spending only cash you have today (think ANSAC Christmas loan). Using your credit card to purchase gifts is so tempting however it can be one of the most expensive forms of borrowing. A credit card should be used as a credit ambulance, i.e. only when you really need it. Enjoy the Christmas Holidays, in the end the holidays are about enjoying family and friends and putting financial stress in perspective by focusing on the time we spend with our children and family. If you are hosting a family gath- ering then plan and budget for the occasion and stick to your budget. Don't forget your family may be eligible to join ANSAC - get the kids saving from an early age! ANSAC Credit Union are determined to ensure that your Christmas is enjoyed and financially stress free, and the launch of the Christmas express loans initiative is a welcome introduction to the festive calendar. Contact anSaC on 01-8554489 or contact your local Barrack representative.

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