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Tips and tricks to get through Blue Monday

(Source: iStock)
Summary

Blue Monday falls on January 21st, 2019

Curtailing restaurant and take-out spending can go a long way in paying off lingering holiday debt

Plan for next year by putting away $10 a week to mitigate holiday spending

VANCOUVER (NEWS 1130) – With the holidays behind us, many Canadians are feeling financially blue and we’re fast approaching the most depressing day of the year.

It’s called Blue Monday, and between paying bills and dealing with cold weather, it can be a rough day for a lot of us. This year, Blue Monday falls on January 21st. Laurie Campbell, the CEO of Credit Canada Debt Solutions, says there are some things people can do to beat the impending winter blues.

“Car statements and bills are starting to come in, people are starting to come down from the holidays, it’s kind of dark and gloomy and so it’s a bit of a struggle for many Canadians,” she said. “The party’s over and the fun’s stopped.”

Campbell suggests tightening your belt. She says eating in restaurants and ordering take-out are expensive, and lowering your food expenses can go a long way in helping you pay off lingering holiday debt.

She says it’s important to watch your spending ahead of the holidays so your debt levels don’t grow in the new year. Campbell recommends small acts like putting away $10 week and using that come next January to help with your holiday finances.

She says even though you may still be dealing with the fallout of the financial decisions you made in 2018, it’s not too late – you can start planning ahead for next year.

Campbell says it’s also important to remember you’re not the only one dealing with this. “Talk to other people, find out how they’re doing and you’ll find that there are a lot of people feeling the same. You don’t have to feel like you’re going through this by yourself.”