by Doreen Martel

Created on: January 02, 2009   Last Updated: December 08, 2009

It seems now that the holidays over, you've discovered that in spite of your resolution to not overspend, you've done it again and your credit card bills are now arriving in the mail. Let's be honest - in these tough economic times the last thing any of us want to be faced with is mounting credit card bills. The very first thing you're going to do is put all of your credit cards in a drawer (out of your wallet or purse) and make a vow to not use them. You should keep one (1) gasoline card and perhaps one (1) credit card with you (and put a sticker on that card that says "Is this an emergency") that is used ONLY in emergency situations.

You are probably wondering what in the world you are going to do to make these payments go away sooner, rather than later.

Actually, managing your post-holiday debt isn't all that much different than managing your regular debt! In fact, it can be easier because you already have a fair idea it's about to sneak up on you as soon as you see your calendar change over to January 1!

So here are some easy steps to managing your post holiday debt:

1. Don't pay the minimum amounts - even if you pay only $10 over what your minimum is you're going to reduce your debt faster - and paying it faster means that you're going to pay less interest in the long run;

2. Special offers - this is a perfect time to look for credit cards that are offering to transfer your balances and charge no interest for a specific period of time! If you can take all of your holiday debt and put it on one (1) card with no interest payments for six (6) months you'll have the opportunity to pay it all off before you have to pay any interest;

3. eBay - do you have a bunch of things in your home that you've been meaning to get rid of but just haven't gotten around to it? Now's the perfect time to put them all in one spot, take out the digital camera you got for a gift and take photos and get them all posted on eBay. Sell them - make sure you use all the proceeds to pay down your debt;

4. Helium - yes, do exactly what you're doing now! Submit fresh new articles, participate in the marketplace and enter contests. Make the decision today that all of your earnings for a specific period of time will go to pay down any credit cards that have holiday debt on them.

Managing your holiday debt doesn't have to stress you out nor should it force you to go without necessities. Make sure that you pay down your highest interest rate cards quickest as this will save you the most money over time.

Learn more about this author, Doreen Martel.
Click here to send this author comments or questions.