This is a sponsored post. All opinions are my own.
The Holidays. They bring so much joy and happiness. The family, the food, the presents… ugh, the presents. Unless you got a substantial holiday bonus, chances are you stretched your budget with holiday spending. When it’s all said and done, are you prepared to deal with the consequences? Here are a few tips for coming back from any spending mistakes you may have made this season.
- Scale back in any way you can. Go over your budget again {and if you don’t have a budget, that’s your #1 goal} and find little ways to save. The only cure for over spending is under spending. Sorry, friend. You’ve heard how much those Starbuck’s add up day after day… are some little luxuries worth the stress of debt? Know where your money is going, and make a conscious effort to save where you can on the little and big things.
- Do some research. There are so many good books out there to help you create better spending habits. They can inspire you to make better choices moving forward, and help start to get rid of any debt you are currently carrying.
- Start earlier next year. And by that, I mean right away. Why can’t you make your Christmas list up in January? All year long, as you shop, keep your loved ones in mind. “Mom would love that book!” Buy it, put it aside, and you’ll spread your spending out all through the year. Save yourself time, money, and stress!
- Get support. Know someone who manages money well? Ask their advice. Find someone you trust enough to discuss personal financial situations with.
- Stay away from store credit cards. They usually have super high interest rates and will cause you to pay more interest over time than with other credit cards. Be prepared to say no when the store clerks say “Save 10% today by opening a credit card!”.
- If you’ve made the mistake of a store credit card, or are carrying debt with a high interest rate, Utah First Credit Union has an amazing offer of 4.95% APR on purchases and balance transfers with Utah First Platinum Visa. Getting all of your debt into one place can help you be in better control of your debt and simplify your life. Stop spending money on interest with store credit cards that have interest rates that are through the roof. Transferring your balance can save you money, and help you pay down your debt faster. Who doesn’t want that? It doesn’t have to be just have to be from another credit card. You can transfer car loans or other forms of debt as well.
Don’t let debt get you down- make a plan, and keep moving forward. Have a happy New Year!
