Did the holiday spending spirit get the best of you? Are credit card bills threatening to create your own personal fiscal cliff? There are some things you can do to pull back from the brink of financial disaster:
First, assess the damage Ė how much was charged? If you canít pay off the purchases in full, make a plan to get them paid off in the next three months. This may require some sacrifices for a while, like less eating out or fewer movies, but the end result will be worth it.
Finally, start setting aside money from each pay check in a Christmas fund, so that this year you can have a charge-free holiday. And, donít forget to create a holiday budget based on how much you plan to have available in your Christmas fund.
Money management can be a challenge. If you would like help in developing a budget, getting out of debt, or figuring out how you can put money in savings, the Certified Consumer Credit Counselors at Horizons have a combined 49 years of experience to help you reach your goals. If your debt situation is overwhelming you, Horizons will work with you and your creditors to develop an affordable plan. Remember, a sound spending and savings plan is the key to getting the most out of your money.For more information contact us at 319-398-3576 or visit our website at www.horizonscccs.org. Horizons Consumer Credit Counseling Services, celebrating 30 years of service to East Central Iowa.