Your holiday shopping may be over with, but the bills for the items you purchased are on their way.
It can lead to a stressful start of the new year, but United Way Financial Stabilization Partnership Coordinator, Amy Davis, says don’t panic. She says sit down with your family to discuss your expenses versus your income and start a spending diary.
"Write down everything that you spend. All the bills that you pay, even the little things from buying a pack of gum on your way to work or that morning coffee. You know, write down everything and that way, after a couple weeks, you can go through and see were your money is actually going, " says Davis.
Then, Davis says to look over that spending diary and trim some of your expenses.
"Maybe you can cut back on your cable or your cell phone bill. Maybe you don’t dine out quite so much or not go to the movies every weekend, but-you know-cut down a little bit, " says Davis.
Davis says it’s ok to feel overwhelmed but when it gets to that point, talk to someone about your current debt situation.