Tackling Credit Card Debt | Video

Julie Leonardi | 1/18/2013

Now that the holidays are over, it`s time to pay off those credit card bills. To avoid racking up debt, financial experts suggest making sure those bills get paid off within the first few months. A bill of $20,000 could take years to pay if you`re only doing the minimum payment.

Don`t dip into savings, try using your tax refund to chip away at the damage.

When applying for a credit card, take the time to look for the lowest interest rate possible, and of course, start a budget.

Claudie Selzer, financial service officer, gave some tips. “Make sure it’s in your budget, try to pay that off the very next month, don`t let that interest build up, look at your expenses for Christmas is their some place you can cut? Maybe you don`t have to spend all that money on Christmas.

Keep in mind when you`re budgeting, your first paycheck of the new year will be a little lower because of an extra tax cut.

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