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Dealing with a Holiday Debt Hangover

There’s no pill for a holiday debt hangover, but you can make it disappear faster. Here are the key steps in every approach:

  • Stop borrowing.
  • Begin immediately to spend less than you earn.
  • Use the balance to pay off the debt.
  • Track your spending, and create a budget.
  • Begin saving immediately, and create a fund for emergencies.
  • Pay off your highest credit card first— in most cases this is best.

Discover different strategies at the Consumer Credit Counseling Services web site www.cccsofrochester.org.

Next year try low- or no-cost gifts for friends and family. Google “list of low or no-cost gift ideas” and you will discover hundreds of thoughtful ideas that are caring and just plain awesome.

Strong EAP | 1/6/2016

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