It’s a few days into the new year and many of you are likely suffering the effects of the holiday season.  Many people go overboard with gift-buying and then realize the consequences when they get credit card bills at the end of January.  Never fear you can still do something to get a handle on things.

It’s not going to be easy but it can be done.

If you want to buy gifts at the same rate as you did last year then maybe you should start a savings fund especially for gifts.  That way you don’t put as much on credit.  For example, sacrifice a few things like eating out or buying coffee every day in order to start saving a small gift fund.  The other tip is to buy things throughout the year instead of waiting until December to do everything.  Sometimes there are things on sale or incredible deals that you can’t pass up.  If you know it would make a great gift, buy it and put it away for Christmas.  Before you know it, you wont’ have much shopping to do when that time comes.  This also applies to any other gifts you buy throughout the year; birthdays, anniversaries or gifts ‘just because’.

Take a moment to really sit down and look at your finances.  This is the perfect time to do it since it’s also the beginning of a new tax year.  Gail Vaz-Oxlade is a financial expert who teaches her clients how to get out of debt.  Her television show Til Debt do Us Part, teaches couples the practical steps for getting out of debt.  The first step is owning up to what you owe.  Click here if you want to own up to your finances.

To make your own budget using one of her worksheets CLICK HERE.

For more tips from Gail on how to get out of debt visit her website directly at http://www.gailvazoxlade.com/