A recent study by Visa found that one in five of us plan to fund this Christmas on credit cards, meaning many will be expecting the bill to drop of their door step any day now.
If you are one of those people, then we are urging you not to panic and follow these simples steps to make sure it doesn?t get the better of you.
If you have kept track of your spending you should already have a rough idea of how much you will owe, if not try to gather all of your receipts together so that you can eliminate the element of shock.Work out your income and expenditure to calculate how much surplus you have left once everything has been paid out.If you have a 0% interest on purchases credit card then you can calculate your surplus to pay this back in instalments until the offer expires.
If you are being charged interest, try to work out your payments in order to repay it as quick as possible, but still affordable to you. Or you could look for a new card that offers you a deal on balance transfers.If you are struggling with other debts you can contact Payplan for free and impartial advice on how to deal with your debts and finances.Written by Gemma on January 9th, 2012
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