"Photo via Getty Images At a Glance: Recover from holiday spending: Review expenses and make a plan to reset your finances. Pay down credit card debt: High interest adds up fastchoose a strategy to tackle balances now. Create a realistic budget: Simple rules like 50-30-20 can help you stay on track. Build an emergency fund: Start small and save consistently to protect your future. As we wind down from the chaos of Christmas and the holidays, a large number of parents and families alike struggle with the same thing"
"We have all done it, says Jennifer Streaks, Senior Personal Finance Reporter at INSIDER. The holidays are a time for family, and many want to make it a special time, but that can also lead to blowing the budget, and when the bills come in January, there may be a bit of stress around paying off the debt. Ahead, we break down key methods to practicing financial wellness so you can start 2026 on the right foot and practice financial stability."
Recovering from holiday spending requires reviewing expenses and making a concrete plan to reset finances. Pay down credit card debt quickly because high interest, often around 25 percent, can cause balances to snowball and prolong repayment for months or years. Gather all post-holiday bills, assess total balances, and choose a payoff strategy such as the snowball method to accelerate progress. Create a realistic budget using simple rules like 50-30-20 to allocate income. Build an emergency fund by starting small and saving consistently to protect against future shocks. Prioritizing these steps reduces January bill stress and restores financial stability.
Read at www.newyorkfamily.com
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