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Holiday Headache: Time to recover from post holiday spending spree

That holiday joy in December quickly took a turn for the worse once January arrived.
That's when the credit card statements arrived, detailing exactly just how much you spent between Black Friday and whenever you decided to swap gifts with your loved ones.
From a financial standpoint, you probably should have thought through your holiday budget beforehand and limited the amount you've attributed to credit cards versus paying in cash or from the money you already call your own.
But let's say you were a little short this year but still wanted to celebrate the holidays in style. The big question you're faced with at the moment: Now what?
Things at home are probably in the midst of getting incredibly tight from a financial standpoint that may mean ringing in the New Year relatively quietly. No dining out at restaurants for a while, and don't even think about updating your wardrobe or taking a vacation any time soon.

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All of those are certainly a product of perhaps overspending, but that doesn't mean digging out of your holiday spending turns into spending the rest of winter in hibernation. Instead, it just translates into getting a little creative with your cash.
For example, a lot of post holiday money in your pocket could come from returning a few gifts that don't quite mesh well with your style. The trick is taking that cash in hand and saving it, rather than turning around and buying yourself a replacement gift.
The biggest money saver after the holidays ironically is decorations. Everything from ornaments to tinsel or any specialty items typically are tagged with 50-70% off retail price. It makes perfect sense to stock up on all of those holiday products, even if you've got to wait another 364 days to break them out once again.
And, of course, you simply can't overlook the bills themselves.
It's important for you to take time and carefully cultivate a game plan to pay back your credit card bills systematically and without reproach. This goes hand in hand with cutting back to a degree and not being tempted to continue the holiday spending well into spring. Let's say you spent about $1,000 on a credit card with no interest for six months. That's roughly $170 per month during that period of time, so that's exactly how you should approach the payback period.
The biggest mistake is paying a minimum payment for six months of about $50, thus leaving you about $700 short when your promotional period is up and standing face to face with a double digit interest rate.
Do you really want to spend double on the holidays with nothing to show for it?
That doesn't sound like the beginning to your new year.

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