The holiday season has come to an end! And most likely you are sitting down wondering how to make your debt management work. In an ideal world, you have saved all the money from day one in your holiday savings account and stuck to your guns when it came to your holiday budget. More often than not, we rush our holiday shopping, ending up with more consumer debt than we bargained for. So, the season is done! Now what?
So The Season Is Done! Now What?
What’s done is done. If you are in debt deeper than you wanted to be it is important you devise a debt relief plan sooner than later. Pick your battles with your credit cards. Pay off your high-interest credit cards first and look for ways you can cut back on your spending to make up for some of the debt pay off efforts. When you are in the moment you tend to be careless about your spending. However, now that the season is done, let’s look at somethings you would do differently next year around.
Save your Receipts!
You should have saved all your receipts. Here are 2 reasons why:
1. In case something needs to be returned.
2. To track your spending.
In the rush of the holidays and gift giving, you may lose your receipts. However, what may have seemed like the trendy sweater with a good deal at the time might not live up to your expectations. Saving your receipts is important because then you have the option of returning those items to get your cash back if need be. Also, your receipts are a great way to go back and track your spending. This can set a good indication for your next holiday seasonal spending.
Watch Your Spending Post-Holiday Season
It is not always easy to let go of the habit of spending. So, you have to be extra careful with your post-holiday season. Now that the season is done, it is probably a good idea to check back with your spending and budget. Make sure you are on track to paying off your debt on time and keep up with your essential expenses.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.