How to Recover from Holiday Spending
The holidays are officially wrapped up, and millions of people can relate to overspending during the holiday season. If you found that you went a bit over your holiday spending budget, have no fear! There are several ways in which you can work on recovering from any holiday debt that you may have put yourself in. What better way to kick off a New Year than to recover financially and get yourself fully situated for the year ahead?! Check out some of our tips:
- Strategically use your holiday bonus and tax returns. If you received a holiday bonus from your company, make sure that you are spending it (or saving it!) wisely. It is also important that come tax time, you do not blow your entire tax return upon receiving it. Pay down any debt you have, and save the rest!
- Proactively save for the upcoming holiday season. Once your debts are paid off, it doesn’t hurt to begin saving for the upcoming holiday season. If you are able to put away even as little as $20 a week, it will help give you some financial cushion when it comes time to purchasing gifts again.
- Sell items you do not need. Start spring cleaning (and purging) early! Set aside some time each week to go through any clutter in your home so that you can sell items that you no longer need. This is a great way to make some extra money and pay off your credit cards!
