Statewide clientele but with emphasis on the Front Range communities of Greenwood Village, Boulder, Aurora, Centennial, Lakewood, Englewood, Avada, Westminster, Broomfield, Thornton, Golden, Littleton, Castle Rock, Monument, Colorado Springs, Highlands Ranch, Aurora, Parker, Centennial and Pueblo as well as other cities throughout Arapahoe County, Boulder County, Douglas County, City & County of Denver, Elbert County and Jefferson County.
5 Tips for Recovering from Holiday Spending (Part 2)
January 17, 2014
Continuing from 6 Tips for Recovering from Holiday Spending (Part 1), the following lays out a few more effective strategies that can help consumers get back on their feet after they may have overspent this past holiday season.
- Financial Recovery Tip 3: Return stuff you don’t need or want – Christmas gifts and other items that still have the tags on them, that you don’t need and/or that you don’t want should be returned as soon as possible (either for credit back on your credit cards, cash back or store credit if the first two options aren’t available). Failing to return unneeded and unwanted items from the holidays is equivalent to simply burning money, and if you have already overspent over the holidays, then any extra money you can get back can be immediately put towards paying down your credit card debt.
It’s important to point out that the sooner you are able to make these returns, the better, as some stores may have time limits for making returns (and these can be as short as 14 days, depending on the retailer).
- Financial Recovery Tip 4: Cut your spending back to the necessities – To free up some extra funds to put towards your credit card payments, you may want to cut back your other spending. This can mean only spending money on essential items and shopping around for the best deals on those items (especially when it comes to groceries, gas, etc.). Being diligent about not spending money on things you don’t need – and not overspending on things you do need – can help generate some extra cash that may get you back on your feet financially faster than you know it.
- Financial Recovery Tip 5: Pay more than the monthly minimum on your credit cards – If you are able to carve out some extra money from your budget by cutting back on your expenses, then you should put a good chunk of this extra cash towards paying more than the monthly minimum on your credit cards. While it’s ideal to pay more than the minimum on all of your cards, if you can reasonably only do so for one or two cards, then choose to pay down the cards that have the highest interest rates (in order to save yourself money in the long run).
Colorado Bankruptcy Lawyers
If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C. For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for both individuals and businesses alike. Our experienced legal professionals are committed to providing each of our Clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our Clients’ cases are resolved as favorably and efficiently as possible.
For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950 or email us some details about your situation by clicking here.