How to Get Back on Track After Overspending During the Holidays

Who doesn’t love the holidays? It’s a time for family and friends, good food, traditions, and sometimes…overspending. Overspending during the holidays is all too common. According to CNBC, Americans spend an average of $1,455 during the holiday season—but don’t worry! If you’ve found yourself overspending this past holiday season, rest assured that there are steps that you can take to get back on track.

Assess Your Financial Situation

The first step in getting your finances back on track is to assess where you currently stand. Take an honest look at your bank statements and credit card bills to see how much you spent over the holidays. Knowing where your money went will help you determine where you need to cut costs in the future and how much money you’ll have to allocate toward paying off your debt.

Create a Budget

Once you know how much money was spent over the holidays, it’s time to create a budget that will help you get back on track financially. To do this, list out all your expenses for the month—including rent or mortgage payments, utility bills, car payments, and other necessary expenses—and compare them against how much income you bring in each month. Make sure to account for any debt payments as well so that they can be included in your budgeting plan. Depending on your situation, it may also be beneficial to set aside some extra funds each month for unexpected expenses or emergency savings. Once you’ve created a budget that works for your lifestyle and finances, stick with it! It’s important not to overspend beyond what is outlined in your budget so that you can stay on track with reaching financial stability.

Look into Payment Options

If paying off all your holiday debt upfront isn’t feasible due to lack of funds or other circumstances, consider looking into payment options such as credit cards with low-interest rates or even a personal loan. Our low rate consolidation loan (our extended holiday loan) allows members to borrow up to $5,000 as well as rates as low as 7% APR* and up to 24 months to pay.


Overspending during the holidays can seem like an insurmountable task but there are solutions available that make it possible—and even easy! By assessing your current financial situation; creating a realistic budget; and researching payment options such as low-interest rate credit cards or personal loans from credit unions like RMLEFCU; anyone should be able to get back on track financially after holiday spending without having too much strain placed upon their wallet or bank account!

Need more information? Contact us at (303) 458-6660.

*Annual Percentage Rate. With approved credit. Some restrictions may apply.