Pricey Season

This week is the worst of the year for money worries as summer holiday bills arrive, children return to school, universities open and planning for Christmas spending begins, according to a new report.  Credit card firm Capital One said it had worked out "a formula" on when people felt the most pressure on their finances, which included higher heating bills as the weather turns cold, increased use of cars, children's child care and other costs associated with this time of year.  A professor from Manchester University, who calculated the formula, said:  

"It was important to examine both retrospective financial pressures, such as summer bills hitting the doormat for child care and the family holiday as well as the cost of new uniforms and back to school equipment, alongside the prospective financial pressures, such as increased use of transport and rising fuel costs as winter approaches, to define when cash going out the door combined with psychological concerns about finance can create a money meltdown."

 Brace yourselves then, although I think the bills after Christmas will be higher.