What To Do If You Over Spent

Don’t Panic

If the holidays put you in a financial pinch and credit cards, loans, and other debt are beginning to be difficult to pay off, you’re not alone. It's simply a sign that it may be time to consider a proactive solution and possibly a debt consolidation plan.

Re-Evaluate Your Finances

While it may be more difficult to control debts like medical bills and home, vehicle, or college loans, it can be easier to start by deciding where and when to rein in our spending on non-essentials. This can help credit card debt. Credit cards also typically come with higher interest rates, so paying them down first is a good start. Along with paying them down, reconsider any unnecessary purchases for the time being, allowing time to catch up on those bills. Experts suggest unsubscribing from retail email lists, and deleting your credit card information from websites where you commonly make purchases. Evaluate your monthly spending, especially on credit, and consider choices to spend less going forward.

Create A Budget

Creating a budget goes hand-in-hand with getting spending under control. Debt is simply a sign that you are spending more than you are earning. A smart budget lists all your income and expenses, making it easier to understand where your debt is coming from, and where you can make changes, both large and small. Take advantage of our budgeting tools, from online education, tips, and calculators, to easy-to-use budgeting tools within our online and mobile banking applications. You can also sit with us to make a plan. 

About Budgeting

Getting Started

A smart debt consolidation plan will include accommodating your lifestyle and goals, so that you can keep your finances on track long term. In addition, your budget can include a line item for holiday savings, giving you most of the next year to plan and save. We can help you evaluate all of these factors, and work with you on a plan to lower your debt and better manage your finances.

If you have any questions, we are here to help. Visit our Debt Consolidation page for more information. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly Member service representatives today.