0:02
are you being AED by the ghosts of your
0:08
spending millions of us are the average
0:14
$1,700 this holiday season according to
0:17
the consulting firm deoe which tracks
0:19
those kind of Trends and that kind of
0:22
spending hangover is scary to those who
0:25
are helping consumers in a financial
0:27
quantry if you've already made the
0:30
and you've overspent now you have to
0:32
figure out how you're going to get out
0:34
of debt collectively Americans now owe a
0:38
17.9 trillion to creditors with almost 2
0:42
trillion of that the result of credit
0:45
card debt credit card debt is just you
0:47
know a complete waste of money so focus
0:51
on on paying down the debt so how do you
0:53
do that without putting yourself an even
0:55
more financial Peril Begin by looking at
0:58
exactly what you are spending at the end
1:01
of the month we say where is all the
1:03
money you know all of the money is gone
1:06
so people really have to look at putting
1:08
a household budget together there are
1:10
all sorts of free softwares and apps
1:13
that are out there you can do an old
1:15
school pen and paper uh budget worksheet
1:18
it all comes out the same you can also
1:20
transfer your credit card debt to cards
1:22
which charge zero interest for a year or
1:25
so then with the money you save on that
1:27
no interest you'll be able to have a way
1:30
to pay more than the minimum let's say
1:32
the minimum is 50 bucks you put in 60
1:34
instead does that help at all oh
1:37
absolutely some of those cards that are
1:39
out there 29% the minimum payments are
1:42
are down around 2% that could take you
1:47
$6,000 so any money that you can pay
1:50
above those minimum payments it's worth
1:52
every penny speaking of pennies you may
1:54
want to keep better track of seemingly
1:57
insignificant expenses it's amazing how
1:59
much money we Fritter away and don't
2:02
realize it the $6 cup of coffee the
2:04
snacks at lunchtime instead of taking
2:06
your meal from home and so forth all
2:08
that adds up doesn't it it sure does
2:10
people say I can afford this cup of
2:12
coffee maybe you can't because when you
2:14
add it all up it's hundreds of dollars
2:17
uh at the end of the month using some
2:19
type of household budgeting tool will
2:20
show you you're spending you know $100 a
2:24
month at the convenience store remember
2:27
debt repayment is not a Sprint it is a
2:29
Marathon so when you set up your debt
2:32
repayment goals make them realistic and
2:35
easily obtainable that way you'll stay
2:38
on track working for you I'm the
2:40
consumer guy Steve sprayer
