Holiday debt

Do you have a pain in your wallet or a nauseous feeling in your checking account? Then you must have a Holiday Debt Hangover.

(msnbc)

If you, like so many of us, put the bulk of your spending on a credit card, the first thing you must do is decide to make getting out of debt a priority. If you’re still using that card and you’re carrying a balance, you have not made it a priority. Take the following steps to rid yourself of this holiday hangover as soon as possible.
Use debit cards and cash until you have eliminated your credit card debt. It will keep you more in touch with your spending.
Don’t pay penalties. Make sure you pay at least the minimum on every card each month on time.
Pay at least the minimum using one of two strategies: Pay off the card with the highest interest first. You’ll pay less in the long run. Or, pay off the card with the lowest balance first. It’s very satisfying to pay off a debt in full. It can be a great motivator.

Also, do yourself a favor and join a Christmas or holiday saving club. The extra savings will take a lot of the stress out of holiday spending next year!