Dealing with a Holiday Debt Hangover

There’s no pill for a holiday debt hangover, but you can make it disappear faster. Here are the key steps in every approach:

• Stop borrowing.
• Begin immediately to spend less than you earn.
• Use the balance to pay off the debt.
• Track your spending, and create a budget.
• Begin saving immediately, and create a fund for emergencies.
• Pay off your highest credit card first— in most cases this is best.

Discover different strategies at the Consumer Credit Counseling Services web site www.cccsofrochester.org.

Next year try low- or no-cost gifts for friends and family. Google “list of low or no-cost gift ideas” and you will discover hundreds of thoughtful ideas that are caring and just plain awesome.

Global Administrator | 1/6/2016