Get Out from Under Holiday Debt
By: Import User
Updated: January 7, 2009
After all of your holiday spending you may be wondering how you`re going to get out from underneath all those bills. The average credit card debt has increased 35 percent over the past year and studies show shoppers spent more than was expected this holiday season. That`s why many people will be resolving to get their finances back in order in the New Year.
Experts say the first step is to stop using your credit cardm but in order to do that you may need to find a way to handle emergency money situations.
Certified Financial Planner, James Erickson says, "Set up a small savings account somewhere in a bank account, with a credit union. Somewhere where it doesn`t cost you to put that money in there. You`re probably not going to make much money on it, but at least you`ll start having some emergency savings so you don`t have to use that credit card anymore."
Once you get in trouble with your credit it can be difficult to fix, but keeping your credit in good shape is easy to do.
Reported by: Jennifer Grannan
