How to stay out of post-holiday spending debt

The holiday season is done, but bills from the month of December are already hitting the mailbox.

In a November Gallup poll, the average American was expected to spend nearly $800 on gifts during the holidays.

30 percent said they would spend $1,000 or more.

Anyone who used a credit card to buy those gifts is about to get a substantial bill.  Many financial counselors like to say that Christmas can not be planned for after it’s gone.

This is the time to start planning for next Christmas.  Some U.P. financial institutions still offer Christmas accounts.

Stuart Baker says that if someone went a little overboard this holiday season, taking some initiative can help.  Contact creditors, explain what happened, and ask if there is anything they can do for you.  There often is, and you won’t know unless you ask.