How to avoid a holiday finance hangover

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www-usnews-com

By Andrew DePietro

The amount of money Americans spend during the holidays is pretty incredible. In 2015, holiday retail sales totaled more than $630 billion, according to Statista. With so much money being spent, it makes sense that so many people find themselves in post-holiday debt. Indeed, according to the TD Bank Merry Money Survey, 78 percent of Americans have overspent on holiday purchases in the past.

Luckily for you, there are ways to save during the holidays without incurring serious damage. When it comes to recovering from your holiday spending hangover, “The magic is in the budget,” said Lauren Greutman, frugal-living expert and author of the book “The Recovering Spender.” But a budget is just one piece of a smart holiday spending plan, so here are eight steps to help you fully recover from your year-end shopping spree.

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