Well, well, well… did you over spend this holiday season? Are you living in fear of your credit card bills? Are the ghosts of Christmas past spending nipping at your heels? If it seems like you’re always playing catch up on credit card bills, it’s probably time to stop using them.

Start the New Year right and get your financial house in order. A financial experts advice may be warranted to get you through the maze of IRAs, 401’s, home loans and long term financial planning but there are steps you can take now that will decrease expenditures and save you money.

1. Get out your scissors and cut up all but one of your credit cards. Transfer balances to the card with the lowest interest rate. Put that card away where you can’t get to it easily. (Freeze it in ice, so you have to melt the ice to get to it. Put in your safe deposit box). Plan now on paying more than the minimum payment due each month.

2. Cut Coupons. If you haven’t been a coupon cutter, now is a good time to start. Check out internet sites that post coupons, special offers and rebate offers. Regular use of coupons can save you 30%-60% on your weekly grocery bill and 10%-25% in online store purchases.

3. Recognize your spending habits. Go through last years receipts and categorize what you spent, where you spent it and why. Find where you can cut back. The small expenses add up at years end.

4. Plan ahead for your expenses and purchases. Now that you know what you spent and how you spent it, budget it out month by month. Think of ways to decrease these expenses.

5. The little things matter. Lower your thermostat a few degrees in the winter and up a few degrees in the summer. Car pool with co–workers. Walk or ride the metro to work. Take your lunch to work. Brew your coffee at home. Try off branded merchandise. The pennies you save add up to hundreds saved at the end of the year.

6. Shop your at bargain stores first. Many carry many name brand items at substantial discounts. Discontinued and overproduction closeouts are usually wonderful buys and shouldn’t be overlooked.

7. Don’t wait till the last minute to make your purchase. If you see a great deal on a bicycle 2 months before little Jimmy’s birthday, buy it now. Pouncing on deals ahead of need will save money in the long run. Waiting to the last minute on any purchase will cause overspending.

8. Take a second look at resale or thrift stores. Professional women, moms and kids can both buy and sell gentle used clothing back to resale stores. The time spent bargain hunting at these stores can really pay off with huge savings.

9. Try repairing items before you purchase new ones. A favorite pair of shoes can get one more season if repaired. A dress may last another year with a new zipper. That old stove may be worth repairing.

10. Lastly, avoid charging anything on your credit cards. Budget and plan out expenditures so you can pay with cash. Living on what you earn may be a foreign idea. But becoming a slave to your credit debt and interest is worse. Remember Credit companies are in business to make money not be your best pal.

Savvy bargain shoppers think about how and where they spend their hard earned dollar. It’s the first step in saving money and ultimately beating the system. Go get ‘em!

Suzanne O'Connor