Overcoming Your Summer Financial Hangover

As summer wraps up, many are experiencing a financial hangover due to excess spending during the warm months. This term describes the discomfort following a period of indulgence, similar to the way one might feel after a night of overindulging. Many are feeling the weight of their summer spending habits, with bills due and stress levels rising. To combat this, financial expert Jessica Peron from Financial IQ provides actionable advice. Begin by examining where your money has gone; reviewing credit card and bank statements can provide clarity. Secondly, consider starting a spending journal or utilizing tracking apps like Mint and Credit Karma to monitor future expenses effectively. Lastly, tackle existing debt—distinguishing between good debt and bad debt is crucial, focusing first on paying down high-interest credit card debt. Additional financial planning, including budgeting for savings and investments, is also vital for future stability. By implementing these strategies, individuals can regain control over their financial health, making informed decisions rather than reacting to past overspending.