Tips for getting back on budget after holiday spending - The CW San Diego - News 8

Tips for getting back on budget after holiday spending

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SAN DIEGO (NEWS 8) - Now that Christmas is over a lot of us will be getting our credit card statement and shuttering. The National Retail Federation says Americans were predicted to spend over $1,000 during this holiday season!

It is now time to pay those down and get back on a steady budget. 

Chase Peckham from San Diego Financial Literacy Center dropped by Morning Extra to give some tips to eliminate holiday debt.

             1. Always pay more than the minimum on your credit card debt. 
             2. Pay with cash instead of credit. Paying with cash triggers a psychological pain reaction, while paying with plastic does not, meaning we’re far                         likely to spend less when we pay with cash instead of charging a card.
             3. Invest in reusable water bottles, coffee mugs and lunchboxes. This will cut down on the amount of money spent on Starbucks and going out to                        lunch when can save almost $4,000 annually!
             4. Get creative when it comes to your social life. . Invite your friends or family over instead of heading to a restaurant or bar. Have each couple                            bring a bottle of wine or appetizer and play board games. 
             5. Get a side hustle! Some ideas including driving for a rideshare company like Uber or Lyft part time, working as a virtual assistant online,                                  babysitting, walking dogs, selling art/jewelry/clothing you made, or selling items you no longer use.
             6. Take advantage of free financial literacy programs. Individuals can meet one-on-one with a certified financial planner for free for one hour. There                       are five to six clinics a year all over the county in 2019 and registration is required.

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