It's a New Year. Time to Sober Up From That Holiday Hangover!

The holidays are over. The relatives have all gone home. The decorations are packed neatly in their tubs or boxes and wait in the attic for another year. But sometimes, it’s so hard to let go isn’t it? You can still hear the Christmas carols in your head, the aromas of cinnamon potpourri may still hang heavy in the house, and all your favorite stores are welcoming you back to take advantage of the post-Christmas sales. This is called the Holiday Hangover.

But something else is about to happen that will shock you back into reality. Soon, you will receive a piece of mail that will remind you of the great time you just had, but that won’t be any fun. It’s your credit card bill, and if you are like 14 million other Americans, you’re still paying off your Christmas bills from last year!

How can you make sure that Christmas 2015 will be merry and bright for your bank account? Take the Diva’s advice:

1.     Make a plan to pay off your credit cards ASAP!

Plain and simple, you can’t build wealth and peace of mind with debt crushing you. Don’t let that $20 sugar cookie candle you bought for your hairdresser be a 12-month loan. It’s $20! Pay it off.

2.     Set a budget now and stick to it.

This really goes for your entire household, but if budgeting seems scary or intimidating, then start small. Build a Christmas budget and don’t go over it.

3.     Open your Christmas Club savings account this month!

Most financial institutions offer some variation of this idea. Take that budget you just made, divide it by 12, and set aside a little money each month to go to a designated account for your Christmas giving this year. Paying with cash avoids needing credit all together.

Christmas is 12 months away. It comes the same time each year, which makes it easy to anticipate and plan for. Save yourself stress, time, and money later by saving a little now.

 Live Fabulously – Diva