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Overspent Christmas? Recovery Is an Option!

Well, you did it; you overspent. Hey, no judgement here, because we have all done it. Whether you went a dollar over or a few….hundred…don’t let the anxiety dampen your post-holiday spirit. Below are some of the ideas gals out there use to ease the New Year budget headache.

  • Plan it.

First things first, develop a plan. The key to actually following through for many people is to have an idea of how they plan on paying down their debt. The goal here is to avoid dipping into emergency savings, skipping other bills or incurring more debt while you pay your debt down as quickly as possible. Set budget and stick to it.

  • Sell it.

If you have made a resolution to declutter your space, then this idea goes hand in hand with keeping your promise. Sites such as Craigslist and Letgo, as well as area sale pages on Facebook, allow you to list your gently used goodies — or not-so-interesting Christmas gifts — for free and put together some extra cash to make it through. In addition, you will stop tripping over all that stuff you keep piling in the corner.

  • Earn it.

Temporary job boards on Craigslist and companies that specialize in short-term employment may have exactly what you are looking for to bump your income back up until you have recovered. Most of these jobs are extremely flexible and can also be a great addition to a resume. Make extra cash while acquiring new professional skills. Win, win.

  • Freeze it.

If you drove your credit card balance to a crazy height, stow your cards away until you have them down to a balance that does not make your heart pound with anxiety. Take them out of your wallet and, if necessary, have a trusted family member hide them away to keep you from making impulse purchases. However it best works for you, put that freeze on your spending.

  • Save it.

Give up your morning latte or start taking your lunch to work and stow the saved cash in your bank account. Just think, if you gave up paying $4 every morning for that frothy drink, you could save about $80 in one month!

  • Prepare for it.

Many folks who find they have overspent open a Holiday Savings Account as soon as they can for the next year. Most holiday accounts can do direct withdraw, and you can be ready for the next holiday season while feeling a little less stressed. Put your savings on autopilot and avoid the debt cycle next year!

As women, we feel it is our job to make sure the holidays (and every day) are joyful and our family members receive the things they really want and need. While this may make us feel joyful as well, it is important to make sure we don’t overstress ourselves or our wallets. It is also important to remember to plan for the future. If you are ready to make those plans, meet with a trusted financial planner…right after you declutter that one junk drawer.


Linden Oak Wealth Partners offers fee-only financial advising customized for women, in particular, women in transition. Our goal is to create an environment where financial planning is efficient, simplified and easy to understand. We want clients to feel empowered and engaged every step of the way. Please contact us to schedule an initial consultation today.

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The views expressed in this blog post are as of the date of the posting and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

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