The bills sometimes roll in before the holidays arrive. Although it seems like a great idea to get those presents at the time, the debt that comes from your spending can weigh you down.

People tend to spend more when they approach the holidays as a chance to take care of the people they love. About one-third of consumers take on debt to pay for those expenses.

If you took on some debt from credit cards or a personal loan, here are the ways you can get back on track.

1. Get a Budget Started

Revisit your budget or create one if you have holiday debt. You can’t knock those obligations out if you don’t have an understanding of the cash that comes in and goes out each month. 

2. Attack the Debt

You can choose the snowball method that first pays off the lowest debt while paying minimums on the rest. Once you eliminate one, the funds transfer to the next. The other methodology is to use the avalanche method to pay off the highest interest rate initially.

3. Automate Your Payments

After deciding how to pay your debts, try to automate the process so that you don’t need to think about it. Making payments doesn’t feel the same as saving for a vacation. 

4. Lower Your Rates

If your credit score is good, you can apply for a 0% intro offer that lets you transfer high-interest balances to this product. They’re harder to get after Covid, but it’s still possible for someone with a score above 720. 

Certainly do not take on additional debt, and don’t forget to pay more than the minimum on your accounts. It’ll help you get out of debt faster!