URMC / Employee Assistance Program / News & Events / UR Medicine EAP Blog / January 2016 / Dealing with a Holiday Debt Hangover 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. Global Administrator | 1/6/2016 You may also like Getting Help for Post-Holiday Financial Stress Avoid Financial Health Denial Should You Freeze Your Credit Report? Diagnosing Compulsive Buying-Spending Disorder