Kimberly Palmer: How to tackle holiday debt in January

By KIMBERLY PALMER of NerdWallet

Debt from holiday spending and other end-of-year costs often comes due in January, and with rising interest rates, it’s increasingly expensive. To pay it off, it helps to make a plan that involves first targeting debt with the highest interest rates or debt with the lowest balances. Looking for places in your budget to trim and planning frugal social activities in January can also help, as can consolidating debt onto a card with a lower interest rate. It’s important to reward yourself along the way to keep up your motivation.