Here’s how you can recover from that holiday debt:
Stop spending! First and foremost, you must stop spending money. You do not want to continue to rack up even more debt to those credit card bills if you already cannot pay back what you owe.
Devise a plan. Sit down and figure out a plan for how you are going to pay it all back. Having a plan is a great way to strictly monitor your spending. You never realize how much the little things add up, or how much you can save by making a few simple lifestyle changes like bringing your lunch to work, or cooking dinner instead of picking up or dining out.
Learn from your mistakes. We all get caught up in the “magic” of the holiday season and do not realize how expensive experiencing that “magic” can actually be. But now you know! It’s 2014, a new year, a new start. This is a great time to devise a plan for next year, so you can have all the glitz and glam that the holidays offer, without hurting your wallet and adding to your current debt.