You’d just started to forget the stress of the holidays when that pesky white envelope from Visa arrives in the mail.
And oh boy, December was not kind on your wallet. Sure, one of the perks of credit cards is that you don’t have to pay for stuff right away. But that also means all of your holiday spending may just now be catching up with you.
Wondering how you’re ever going to pay for all the fun you had in December? Don’t panic. Here are nine ways to pay off your holiday credit card bill in January.
1. Get A Side Gig
You can only cut expenses so much. But if you’ve got the time, you can always bump up your income. Consider getting a side job for the month of January to help pay off that holiday credit card bill. There are some really quirky (and easy!) ways to make a little extra cash—you can do other people’s laundry, become a dog sitter or provide feedback to attorneys from the comfort of your home. The possibilities for earning extra income are basically endless.
2. Sell Your Stuff
After the holidays, you may be feeling overwhelmed with all the new stuff that got brought into your house. Toys, clothes, books—you name it, you probably have too much of it. Why not do a little early spring cleaning and sell some of the stuff you don’t need? Some companies will even give you cold, hard cash for that old iPhone that’s been stashed in the back of your junk drawer for a few years.
3. Use Credit Card Rewards
If you’ve got a credit card that gives you cash back on your purchases or other rewards, take advantage of that free money and use it to pay down some of your balance.
4. Get Your Grocery Bill Under Control
If you can rein in your spending at the grocery store, you’ll have extra money in your budget to pay for all the gifts and eggnog you bought in December. Try to cut back on your meat consumption and only buy products that are on sale each week at your local market.
5. Take Advantage Of Offers
Did you know Wells Fargo will straight-up give you $250 for opening a new checking account? That’s easy money in your pocket. You can also open up a high-interest checking account so that your money is working harder for you.
6. Only Buy What You Need
If you can stand to cut back on movies, eating out and other non-essentials for a month, do it. You’ll thank yourself later. Take a lesson from Michelle McGagh, who spent a year buying only essentials and ended up saving $27,000.
Simple pleasure no 2. Remembering to take my water bottle (which I got for free!) out with me pic.twitter.com/RvY9rqzcsm
— Michelle McGagh (@mmcgagh) January 8, 2017
7. Negotiate Your Monthly Bills
Believe it or not, many of your monthly bills are negotiable. Take the advice of The Simple Dollar and try to get a lower price (or a better interest rate!) on everything. You can negotiate on your cable or satellite TV bill, your cell phone bill, even your insurance rates. It may seem like a lot of work, but these are the type of savings that will last. Since they’re recurring payments, this strategy will help you save money well into 2017.
8. Make Money From Mobile Apps
There are a number of mobile apps you should be downloading today to start earning or saving money. Ibotta, for example, will get you rebates from more than 300 stores like Target and Kroger. The BevRAGE app will help you save money at the liquor store.
9. Make Your Own Cleaning Products
Stop spending money on dozens of cleaning products designed for every room in your house. You can save money and simplify your life by making your own cleaners at home. Often you only need items you already have around the house—lemons, vinegar, alcohol, etc.
Don’t stress—with these tips you’ll be able to pay off that credit card bill in no time!