The Christmas holiday period has come and gone, visitors have left your house and the bills have likely started to roll in.

For many Australians, late January and early February can bring about trying times on the bank account from all of that excess spending during the silly season.

Whether you got carried away with giving generous gifts or splashed out during an exotic trip, you might be noticing significantly higher numbers on your monthly statements.

While the first few months of a new year can be a little tight in the cash department for most, it is important to assess whether or not it is simply the time of year or a more pressing problem.

Watch for the signs

If you are constantly worried about paying your mortgage and find yourself pinching pennies in almost every aspect of daily living, you might be under mortgage stress.

Waking during the night and having trouble concentrating could mean that money problems are bothering you more than you realise.

Moody behaviour and avoiding social events may also indicate that underlying stress is taking its toll.

What can I do?

If you are having trouble meeting your mortgage payments, it is worth speaking to a mortgage manager to try and address the problem.

Mortgage brokers are skilled at assessing your finances to identify areas that could be altered to suit your personal financial situation.

The solution could be as simple as creating a budget, cutting down on credit or coming up with an achievable savings plan that will cushion you from month to month fluctuations.

A mortgage adviser could also help you research more targeted changes, like refinancing your home loan or downgrading to a smaller property.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.