22 Jun Recovering from Holiday Overspending
If you have overspent this past holiday season, then it is important to carefully budget your money throughout January, and possibly the coming months, and focus on paying off your credit cards and other consumer debt. This involves keeping your expenses within a budget. In this article from Gail Vaz Oxlade, entitled Holiday Spending Hangover, she says that when you are making your monthly budget you must be as detailed and realistic as possible; start by identifying all of your monthly expenses, and then identify your variable expenses (i.e. entertainment, dining out, etc.) and reduce this amount as much as possible. If you find this process overwhelming, because it seems like you may be in debt longer than you’d like to be, or the process is too frustrating, you can contact our office for a free initial assessment to review other options (i.e. consumer proposals or consolidation loans).