Oops I blew my holiday budget!

Holidays are delightful, thoughtful, highly anticipated and inspirational. Until that credit card bill shows up in early January and you realize that all your exuberance led to excessive spending and irrational indulgences.

What should you do now if you're starting a new year off already one more bill too many?

Sticking to a budget is the best way to stop the bills and keep your finances in check. But we have all been in that situation where frivolity takes control of our minds and our wallet. If you find yourself in that group now, take steps to reign things in immediately.

Begin by taking stock of all outstanding bills and organizing them by due dates and then by amount due.
5 Steps to Paying Holiday Expenses:

1. Determine all available funds
It might be a tough decision, but sometimes cash saved for a rainy day might need to be spent - sunny days do lie ahead

2. Pay any overdues bills immediately
When trying to stay ahead, there is no sense incurring late fees

3. Decide if you will pay small amounts on all or if you can pay off some completely.
There is something nice about checking off an entire bill, as long as partial payments don't come with high interest rates

4. If you are still under water consider liquidating and selling unwanted items.
Did you get new appliances for Christmas? You can sell your old ones on various online garage sale sites.
Did you know you can sell gift cards online? If you're not in dire need of more stuff, this is a great opportunity to bring money in.

5. Create a tight budget for the upcoming months
Paying off bills is only half the job, your final step needs to be to stop all unnecessary spending for the next few months.
Give your wallet a break and enjoy the gifts you received.
Take time to revel in the recent holiday memories.
Make plans for upcoming activities and how you will wisely pay for it.

If you still feel like you are under water, call us immediately and lets make a plan together to get you back on track for 2017.