If you’ve overspent on your holiday, the relaxing time you enjoyed while you were away could now be replaced by anxiety and fear.
It’s easy to get carried away when you’re away from home and there’s a card to put everything on.
Draw up a budget now
You may not have done it on holiday, but now is the time to sit down and work out how much you’re spending and what you’re spending it on. Write down all your expenditure, from your mortgage/rent right down to that chocolate bar you bought on your way home one night.
Look for areas you can cut back on to free up some money to pay off your holiday spending.
Sell some stuff
If you have CDs you don't listen to, DVDs you don't watch or clothes lying around that you don't wear anymore then you could sell them to help pay off your debt.
Use a loan
You should try to avoid paying off your debt with a loan if at all possible, especially a payday loan, unless you’ve racked up big debts. If that’s the case, you should cut up your credit cards, draw up a budget and stick to it.
Otherwise, you face the prospect of still paying your debt off for several summers to come.
Use an overdraft
Another, potentially free option if you have a good credit rating is to switch banks to one that offers an interest- and fee-free overdraft.
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