(03) 9020 2905Mmmm, tough one. Big headache. But, never fear, like Blackadder’s Baldrick, I have some cunning plans.
How painful the solution depends on exactly how hard you shopped in December.
For “extreme” shoppers, the drastic options include: declaring bankruptcy; taking up a life of crime; and poisoning your parents to gain your inheritance early.
Mid-ranking overspending? Return presents to claim refunds, regift through the year, or visit your local pawn shop to cash up unwanted gifts.
But most probably overspent just a little. You recently got your credit card bill and reached for a phone to dial 000 after it skipped a couple of beats.
Don’t worry, it’s not life-threatening. You will survive. Probably. Actually, I’m not a doctor. If you have a weak ticker, visit your GP.
Consistent financial gluttony can be dangerous.
So, if you’re starting 2014 behind the eight-ball, you need to, first, fix up the current symptoms and, second, make sure it doesn’t happen again next year.
There’s no easy fix for the current pain. Reduce spending for the next two months.
But One Way Or Another (not the 1D version, but Blondie’s original), you’ve got to get back on track … it’s going to be a long year. You don’t want to still be paying this off in April.
Then sit down and determine what this Christmas cost you. Was it $2500? Or $5000? Whatever it is, you need to put away $50 or $100 a week somewhere safe (perhaps the redraw account), so your ticker doesn’t need a Packer Whacker this time next year.
Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and principal adviser with Castellan Financial Consulting.