During the holidays, you tended to please yourself and your loved ones. Christmas and the end of the year are occasions to organize appointments, meetings, dinners and other receptions. And it is rarely free. So much so that you went over budget. If you are in the red, you need to take steps now to avoid getting into financial trouble. Here are our tips for recovering from holiday spending.
Faire le bilan des dépenses et de l’argent à disposition
The first thing to do after the holidays is to take stock of your spending. It’s not about doing a calculation in your head. It is best to record all of this on paper or in software. Make a clear list of what you have spent and what you may still have to pay. You need to have clear visibility.
Once you have taken stock of paid and unpaid expenses, you need to consider the money that is available to you. You’ll need to clear unpaid bills and anticipate expenses before the next check (or cash flow).
All of this will give you an overview of the essential financial movements in your life to start the new year without unpleasant surprises.
Établir un budget et prendre des décisions en fonction de la situation
Once you know how much money you have on hand and have an idea of the expenses you’ll face, you can set up your budget for the next few days. Depending on the situation, you will need to cancel unnecessary expenses and prioritize cash outflows. There are those that you can’t get out of and those that can be postponed or even abandoned.
By being well organized, you’ll know right away if your post-holiday financial situation is stable, if the balance is fragile or if you’re in the red. Depending on the situation, you will need to take appropriate action. In extreme cases, it would be wise to contact a professional in the field who will give you good advice.
Un accompagnement professionnel pour vos moments difficiles financièrement
If you find that you are unable to meet all of your obligations including staying within your budget, our professionals at Bankruptcy.com are here to help you.
If paying your creditors feels like digging a deeper hole every week, we invite you to make an appointment online. An interview will allow us to discuss your case in detail and to define the right actions to take. One thing is certain, everything will be done to stop you from worrying about a situation that is completely controllable. In any case, don’t wait until the situation is totally unmanageable to react.