As you welcome January, you may get a quick jolt of truth when you see your credit card bills or low balance in your bank account after your Christmas spending. Now you need to figure out how you can recover in a way that will set you up for sustainability throughout the year.

Here are some ideas that may help you tighten your belt from the overspending:

1. Review your receipts, credit card statements, or apps you used for purchases. This will help you look at where your money went in order to plan a strong foundation moving forward.
2. Return gifts that didn’t fit or match your style. This may seem a bit tacky, but if you need the extra money, to help pay off your debt, every little bit counts.
3. Challenge yourself to a “No-Spend “January. Spend only on essentials for one month. Cut out eating out, subscriptions you no longer use, and impulse buys.
4. Set a realistic budget goal for the year. Set a monthly or weekly savings goal you can stick to. You can also start small by saving towards a goal or to build up your savings account. 

Saving money after Christmas doesn’t have to be overwhelming. Taking small steps, you can bounce back financially and create habits that lead to a positive and sustainable year. Remember: Progress, not perfection!

How will you bounce back financially? 

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