Dealing With Post-Holiday Debt

Overspending is something many of us experience during the Christmas season

 

Christmas has passed once again but many local resident will likely have one more gift they'd rather not unwrap, their credit card bill.

Overspending at Christmas happens to many gift givers during the holiday season but Innovative Financial Strategies Investment Specialist Paula Munro says there are options when it comes to preparing for the Christmas credit crunch.

"We recommend setting a budget of what you would like to spend before next year's holidays," Munro says. "Setting up a pre-authorized monthly transfer that co-incides with pay periods will allow you to save throughout the entire year for the holidays and hopefully alleviate not being able to pay those large credit card bills in the new year"

She says options are available through financial planners for not only those who are already planning for next year, but also for consumers who overspent this past season and would like to eliminate debt sooner.

Todd Vallee spoke with Paula Munro about dealing with post-holiday debt...