How to Reset Your Finances After Holiday Spending — Money Minute

Did the holidays leave your wallet feeling a little or maybe a lot lighter

You're not alone. Many of us overspend during the festive season, but now's the perfect time to get your finances back on track

First, take a clear look at your money situation. Gather your credit card bills, list what you owe, and note the minimum payments and interest rates

This snapshot is your starting line. Next, prioritize your repayment strategy. Focus on paying the highest interest cards first while making minimum payments on the rest

If you can, consider transferring balances to a lower rate card or consolidating debt to make things simpler

Now build a realistic budget. Factor in your regular expenses like groceries and monthly bills and expenses alongside your debt payments

This helps you stay on top of where your money is going and how much you have to spend or save without falling behind on essentials

Stay organized. Open statements as soon as they arrive. Track due dates and adjust your plan as needed

Developing this habit can help you avoid late fees and keep your credit healthy

Remember, it's the small steps today that lead to big wins tomorrow

So turn that holiday wallet hangover into a fresh start for the new year