Thursday, January 7, 2010

Curing a debt hangover

Today, we found this helpful story on Yahoo! about how to cure a debt hangover. During the holidays, many folks buy more than they can afford, caught up in the lure of deals and wanting to make someone else's holiday special. Here's a guide to handling the debt.

The best thing you can do NOW to prevent next year's debt hangover? Start saving through a Christmas Club. If your bank still offers it, go ahead and join if this is a perpetual problem for you. If your bank doesn't offer it - and many don't - just put away money in savings every week for the next holiday splurge. The key to responsible spending is saving and budgeting.

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