A very recurring problem that families suffer at this time of year.
January. The holidays are over, the hangover from copious meals pushes us to rethink joining the gym. This and other resolutions follow one another for the coming year. However, in many families the same problem arises every year: the dreaded January cost .
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The January slope: what is it?
The financial problem that families suffer in the last two weeks of the first month of the year is known as “January cost”.
As we have pointed out at the beginning of the text, January is a month of ‘financial hangover’ in families since we come from the Christmas season where expenses of all kinds follow one another . This makes many families look in a hurry and have their current account in the red during the last days or even weeks of January.
It is a real problem that, beyond the logical negative consequences at the financial level, fathers and mothers of families can also accuse psychological problems. To talk about this issue and look for possible solutions from psychology, we have spoken with the psychologist Bertrand Regader .
Elvira Cuesta: Is there a perfect formula to face the famous slope of January?
Bertrand Regader: Every household and every person has their own tricks to weather this financially challenging time of year. But, of course, there are several guidelines recommended by both psychologists and economists that cannot be missed:
- Prevention at Christmas : do not overspend during Christmas as this will have a direct impact on our financial health.
- Contingency drawer : having a separate checking account with a sufficient amount to face unforeseen events on the January slope is one of the most recommended strategies. It is enough to allocate between €30 and €50 a month to that separate current account to have a resistance box to be able to get out of a punctual trouble.
How can we overcome the temptation to spend when constantly bombarded by advertising on TV and the Internet?
We must know how to manage our consumer impulses and have a previous budget to dedicate to Christmas expenses. This budget should never be exceeded, and should be limited to an amount that we are sure we can afford without any problem and without negative consequences in the following months.
Another typical advice but also very true is that we try to buy what has a use value, that is, that we are going to take advantage of it for a long time. Thus, we avoid spending on unuseful gifts that are only due to our impulsiveness when buying.
What is the best way to make self-discipline work and take care of our pockets?
The path of self-discipline and austerity depend largely on the education received and the personality of each individual. We all know people with a great tendency to spend, and others who control their finances to the millimeter.
As in any area of life, virtue is in balance and knowing how to manage our personal finances rationally . This does not mean that from time to time we cannot afford a whim.
Why don’t we learn from other years? What can we do to raise awareness?
The human being tends to forget easily and trip over the same stone many times. The best way to raise awareness is to have savings and spending control strategies like the ones mentioned above, in addition to trying to be critical and skeptical of the advertising bombardment we receive daily. Not everything that appears in an advertisement is as good as they show us.
In addition, there are apps and software to manage personal finances , although they are not well known to the general public, but they can have a dissuasive effect against unnecessary expenses.
The January slope often carries psychological consequences. What guidelines would you give readers so that they can alleviate them in some way?
If all the saving and risk prevention strategies have failed, it is likely that we will find ourselves almost overnight with several days left until the end of January and we are in the red. Beyond the monetary resources that the affected person can resort to (loans, credits, asking for money from a family member…), it is possible that they experience a quite marked feeling of anxiety .
In these cases, it is advisable to lead a restful life, play sports and eat properly. In many of these cases, when the day of collection arrives, the problems are quite mitigated, so we are facing a specific situation that, as the days go by, resolves itself, at least if there is recurring income.
It is also highly advisable to have the attention of a psychologist to receive guidance on how to face these days of stress.
Are there different coping patterns depending on people’s personalities?
Yes. There are people with a very pronounced tendency to anxiety , who really suffer when faced with a small problem and can experience obsessive thoughts.
And at the other extreme, people who know how to manage their emotions and negative situations with truly amazing poise. In these cases, it is advisable not to “worry” too much, but to “take care” and look to find solutions both financially and psychologically, if the situation is affecting our well-being.
Is there a profile of people who are more vulnerable to suffering the negative effects of the January slope?
Objectively, people with lower incomes are more likely to find themselves in a financial bind at the end of January. Although, in many cases, people with average and upper incomes can also run into this problem if they have poor impulse control and tend to make purchases in an irrational way .
For either of the two profiles, it is necessary to address this situation with practical financial and psychological training: on the one hand, we need them to understand that their finances are a precious asset that they must know how to manage effectively. On the other hand, it would be convenient for them to receive impulse control therapy if it is the case that they make compulsive or irrational purchases, in this way we help them to base their self-esteem and their happiness on aspects not related to the momentary pleasure they obtain when they make a purchase.
To the classic question “what do you do?” I always answer “basically I am a psychologist”. In fact, my academic training has revolved around the psychology of development, education and community, a field of study influenced my volunteer activities, as well as my first work experiences in personal services.
