I think we've all been there: you find the perfect gift for someone, and it's kind of out of your price range...but you still get it because you know that person would just LOVE it! Or, maybe you're buying gifts for all of your friends at work. A bottle of wine here, box a meats and cheeses there...suddenly, that credit card bill is looking a little larger than you imagined. So, here you sit. It's January, and you're trying to get your finances in order. Real Simple came out with a "method" on how to get this under control:
- Don't beat yourself up. So, you spent a little extra cash. It's not the end of the world. You already know there's a problem, and now, it's time to fix it.
- Put a pause on unnecessary spending. You have a stockpile of groceries in your pantry - do you really need to go out again?
- Assess the damage and see how you're actually spending that money.
- Then, plan it out. Once you have a picture of how much you owe and why, try to pay off any credit cards immediately and pay yourself back overtime.
- Look ahead and start planning for holidays next year. Try to get a jump on saving up if you can!