' Too Much Holiday Spending - Law Offices of Robert M. Geller
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Too Much Gift Giving over the Holidays? Tips to Get on Track

Florida residents are known for their generosity to those around them, especially during the holiday season. If you are one of those generous individuals, you are often willing to do almost anything for your family and close friends. Sometimes this means getting them the perfect gift in December, and sometimes this means a bit of a credit card hangover when New Year’s Eve rolls around.

Here we are once again on the very verge of another year and a lot of us may be looking at our online credit card balance fearing the due date. Credit card debt is something that most people experience whether it is a couple hundred dollars or several thousands. It can be a daunting burden to carry, but there are some ways to get back on track after holiday spending.

How do you do it? The first thing to do is set a budget and stick by it. The most common New Year’s resolution is to cut out the fat, whether it is financial or fitness. While we all know that this can be a difficult task — for either kind of goal — the rewards are worth the hard work.

As a part of your budget, you should keep in mind the debt-to-credit ratio. FICO recommendations are to stay within 20 percent of your available credit line. “Maxing out” is one of the easiest ways to get behind, but a 20 percent ratio has been determined to be a limit that most people can afford to live with.

If credit cards are truly the problem with “budget-keeping” the simplest solution is to stop using them. Take out cash in keeping with the budget; it is easier to stay on track when there is a tangible limit. Pre-fill debit cards are a great way to conduct the “cash method” without feeling unsafe carrying on your person or leaving cash in the house.

Try to develop an emergency fund in your checking account during the year. This can help with future spending splurges, keeping you out of debt even after a gifting binge.

Source:Fox Business, “Warning Signs for Holiday Credit Card Debt,” Dana Dratch, Dec. 20, 2012

When debt becomes too much to fix with some simple tips and tricks, Chapter 13 and Chapter 7 bankruptcy provide two distinctive and helpful debt relief solutions.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How Often are Bankruptcies Denied?

Bankruptcy offers a lifeline for people drowning in debt. It provides a chance to start anew and regain financial stability....
Read More

How Much Debt Should I Have Before Considering Bankruptcy?

Dealing with overwhelming debt and financial hardship is difficult. The prospect of bankruptcy may offer a path toward relief, as...
Read More

How Long Does Chapter 7 Bankruptcy Take to Discharge?

Chapter 7 bankruptcy offers a fresh start and a path toward financial stability for people struggling with debt. But when...
Read More

Does Business Bankruptcy Affect Personal Credit?

Does Business Bankruptcy Affect Personal Credit? For entrepreneurs and business owners facing financial challenges, the prospect of business bankruptcy can...
Read More

Can I Get an Apartment After Filing for Bankruptcy?

Filing for bankruptcy often feels challenging and overwhelming. It also raises a variety of concerns. One of the most common...
Read More

Are SBA Loans Dischargeable in Bankruptcy?

Navigating the complexities of Small Business Administration (SBA) loans and bankruptcy can be a daunting task for many business owners....
Read More

How to Get Bankruptcy Off of Your Credit Report

Rebuilding financial health after bankruptcy is challenging, but that doesn’t mean filing is worth the effort. One common concern for...
Read More

What Happens When You File for Bankruptcy?

Contemplating bankruptcy is a significant decision that comes with many questions. If you're considering filing for bankruptcy, it's essential to...
Read More

Can I File for Bankruptcy If I Have a Job?

Many people considering bankruptcy are unemployed or know that unemployment is imminent. However, this isn’t always the case. In some...
Read More

Can Bankruptcy Stop Foreclosure?

Many people face the distressing prospect of foreclosure on their homes. If you find yourself in this situation, it's crucial...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions