Holiday Money Management: Tips to Reduce Debt, Save, and Make Extra Money

As the holiday shopping season approaches, it's important to address credit card debt, which has reached a record high of $1.03 trillion in the US. To reduce credit card debt, consumers should start by understanding what they owe and reviewing their credit reports and scores for errors. Consolidating debt through a 0% interest balance transfer card or a personal loan can be effective strategies. Working with card issuers to negotiate lower interest rates or exploring debt settlement options may also be helpful. Finally, choosing a repayment strategy and sticking to it, while being mindful of spending habits, can lead to long-term debt reduction.