The holidays are over. Perhaps you spent more on gifts than you expected. You haven’t thought about it much yet, but you will soon — once those credit card bills arrive in the post.

If you’ve spent a little too much, you might be kicking off the year with a mountain of debt to dig your way out of. How can you start paying down that credit card debt without causing unnecessary stress and making matters even worse?

Here are some tips that will help you get out of holiday credit card debt as quickly as possible, hopefully without being too much of a burden:

1. Stop using your credit cards.

Vow to stop using your credit cards to finance any purchases until you pay off the holiday debt. Continuing to use your credit cards will just compound the problem and potentially lead to interest fees being tacked on (because you’ll need to pay off your whole balance in order to get interest free days — something that’s difficult to do if that balance keeps growing in the meantime).

2. Pay off a large lump sum in January.

If you were good about paying off your balance in full before your holiday spending spree, you might still be within a period of interest free days. That means you haven’t been charged interest yet on those December purchases. Pay off as much as you can afford to pay off this month, and you’ll decrease your overall interest payments when those interest free days expire. Many credit cards offer interest free days, and they usually range from up to 44 to 55 days (as in the case of the ANZ Low Rate MasterCard).

3. Set a realistic goal.

If you can’t pay off all of your holiday credit card debt in January, set a realistic timeframe to reach that goal. Maybe you can pay it off in three months. Perhaps six is a better goal for you. Just don’t let that debt go on accruing interest until it’s time to spend for the holidays again. Holiday debt should not be a year-round worry.

4. Come up with some extra money.

It’s easier said than done, right? You can find a way to bring in more money though, and if you do you won’t have to make so many budget sacrifices as you pay off your holiday credit card debt.

Here’s an idea: combine your debt reduction plan with a New Year’s resolution to de-clutter your home. Gather up dusty old exercise equipment, electronics you don’t use, clothing that doesn’t fit anymore, and anything else with aftermarket value. If you can bear to part with it, sell it through an online auction or classifieds website. You’ll de-stress not only because you’ll be debt-free after the holidays but also by minimising the mess around you.

No matter how you personally choose to tackle your holiday credit card debt, don’t let it be a burden for too long. Be proactive, and when the next holiday season comes around, figure out how to control holiday spending before you accumulate new debt.

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