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Holiday Spending Hangover? Here's How to Recover

With the holiday spending season over, millions of Americans will find that they've spent more than they should. But if you're one of them, you don't have to resign yourself to an endless downward spiral of debt.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at three simple things you can do to recover from overspending during the holidays. Dan suggests that the first thing you should do is figure out how much money you spent, both in cash and on credit cards whose bills you might not even have gotten yet. The next thing to do is to look at your budget and figure out what adjustments you'll have to make to future spending to get those bills paid off quickly while still being reasonable and realistic. Finally, Dan suggests looking at low-interest credit card options. With Bank of America (NYSE: BAC  ) , Capital One (NYSE: COF  ) , Discover Financial (NYSE: DFS  ) , and American Express (NYSE: AXP  ) offering 0% introductory rates on card products, you can save yourself a fortune in interest and get your debt paid off that much faster.

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Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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