Did the holidays leave you with a debt hungover?
Are you regretting spending all that money on buying all those gifts? Are you in fear because you don't know how to manage your debt?
According to a survey made by Mr. Cooper (mortgage company), " one-third of Americans wished they could have skipped the holidays rather than spending it on gifts." Also added, "Thirty-two percent of Americans who purchased holiday gifts paid with credit cards."
I'm going to give you seven steps to manage your holiday hungover and do damage control right away.
Step One: Stop The Regrets
The first step to getting rid of your debt hungover is to stop with the guilt, the blame, and the regrets. It is time to shift your focus from debt to solutions.
Step Two: Track Your Spending
Yes, it is time to tight up for a bit and track all of your spendings. This will require creating a budget or spending plan. Don't know how to do this? I am opening my minicourse on How to Become Financially Fit By Creating a Spending...
The Holidays are around the corner, and the temptation of commercialism and marketing, decorations and more are going to be influencing us.
All the stores get decorated and the holiday spirit is in the air. But that also means that everyone is in the spending mood, and therefore we need to make sure that we don't overspend.
What we want to do is follow specific steps to avoid overspending. The first thing that we need to understand is that the Holidays is not about spending and buying gifts. The most prominent meaning is to spend quality time with people that you love, friends and family.
However, we understand that it is difficult to avoid seeing the newest items and latest technology coming out and influencing us to spend more. And don't forget that is a commerce tactic to be able to keep the economy above.
So what can we do to protect us from the influence and avoid overspending? How to prevent the hungover in January...
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