The holidays are all fun and games until the post-Christmas credit card bill arrives.

If your holiday budget feels like a distant, wishful memory right now, you are definitely not alone. The holidays are such a fun time, but let’s be real, it is so easy to overspend and lose track of your financial goals with all the festivities, gift-giving, and planning the perfect holiday outfit.

Trust me, as a father of two, I am a perfect example of this.

But now that the decorations are packed away and your New Year’s resolutions are in full swing, the financial aftermath might still be lingering. Remember, even with the best holiday budget in place, unexpected expenses have a way of sneaking in.

If you are feeling a little panicked like I was, take a deep breath. It is never too late to revisit your financial plans and bounce back. Here’s how we can turn things around:

Take a Careful Look at the Damage

Feeling the financial strain of the holiday season? The first step to getting back on track is to set clear, achievable financial goals. Start by figuring out exactly how much you went over budget.

Take a close look at where you stand. Review your spending from the past few months and compare it to your income. Are you living within your means, or do you need to make adjustments?

Next, check your savings account. Ideally, you should have an emergency fund that covers three to six months of essential expenses. If your savings took a hit during the holidays (or if you are still building that cushion) figure out how much you need to save and create a plan to get there.

Did you dip into your savings? If so, work out how long it will take to rebuild that cushion.

Finally, take stock of any debt you picked up over the holidays. Once you know what you owe, you can start crafting a strategy to pay it off and regain control of your finances.

Build a Budget

If you don’t already have one, then now is the perfect time to create a budget. It is a solid way to tackle the financial aftermath of holiday spending. A budget is basically your game plan for managing expenses, saving for the future, and paying off debt.

Start by figuring out your monthly take-home pay then add up your essential expenses like food, rent, utilities, and bills. Next, set realistic spending limits for categories like groceries, transportation, and shopping.

Try to adjust your spending so you can save at least 20% of your income. To keep things simple, you might want to try a budget framework, like the 50/30/20 rule, which allocates 50% of your income to needs, 30% to wants, and 20% to savings or debt repayment.

If you feel that you still need a little bit of help, there are a handful of budgeting apps that can help you track your spending and stay on course.

Get Back to Your Usual Budget

Slide back to your regular budget and everyday spending habits as soon as you can.

It might be tempting to just give up after overspending and put off dealing with those habits that crept in over the holidays. But think of it like what nutritionists say about splurging: don’t fall into the “diet starts on Monday” trap.

Keep in mind that the best time to make changes is right now.

Dining out and groceries are two areas that tend to get out of hand this time of year, so those are great places to start resetting your budget. For example, if you usually consume homebrew coffee each morning, it might be time to ditch the specialty latte for a while.

The same goes for those high-end grocery items you’ve been loving, like that fancy bag of potato chips you’ve had your eye on. You don’t have to cut out little luxuries forever, but for now, it’s a good idea to trim back wherever you can.

Try a No-Spend Challenge

A no-spend challenge is when you commit to not making any unnecessary purchases for a set period of time. For example, you might try going a week without spending, or if you are feeling ambitious, you could even aim for a month.

However, starting with a shorter time frame can increase your chances of success.

While you will still need to cover essential expenses like rent, groceries, and utilities, you can choose to cut back on things like dining out or resist the temptation to buy that stuff in your online cart. If you know your monthly income, subtract your essential expenses and direct the remaining money toward bills or savings.

You might be surprised at how much skipping your daily latte run or eating home cooked food for lunch can save.

Keep in mind that just because it’s a “no spend” month doesn’t mean you have to miss out on fun. You could make it more enjoyable by setting a goal to first use up what’s already in your pantry or finding free activities to do instead of spending money.

Re-Prioritize Your Monthly Bills

It’s easy to set your monthly bills on autopilot, especially with automatic payments. But it is worth taking a closer look at those expenses now and then.

You might be able to save money by renegotiating bills for services like cable, cell phones, or streaming subscriptions, especially if it’s been a while since you signed up.

The downside?

Reaching out to these companies can take time, and it’s all too tempting to keep putting it off for ‘later.’

Be More Prepared (or Disciplined) for the Next Holiday Season

You’ve just made it through the holiday season, and I bet you are definitely not ready to dive back into the chaos just yet, right?

Spreading out your holiday spending throughout the year can really pay off. It can make your budget more manageable, reduce debt, help you avoid gift shortages, and most importantly, lower your stress.

While it might be a bit too much to aim for finishing all your holiday shopping by March, it is never too early to start planning. Keep an eye out for sales on gifts and décor you know you’ll need come December.

You could also try setting up a year-long Holidays fund: putting aside a little money each month means you’ll have a nice stash ready for Black Friday and those monthly online shopping deals.

Don’t Be Too Hard on Yourself

It’s normal to feel guilty about overspending, but dwelling on it for too long won’t help.

What’s done is done. The costs during this time of year often go toward creating lasting memories, traditions, and moments spent with loved ones. So, instead of stressing over going off budget, focus on the joy those holiday experiences and memories brought you.

Keep in mind that someone in your circle likely had their own budget-busting moments too. Just remember that if you received a gift, enjoyed an experience, or attended an event, going the extra mile to send a thoughtful thank you can make all the difference.

Figure out what you want to do differently this year.

As you work on paying off your holiday spending, take a moment to reflect on how you got here. If you skipped making a holiday budget, consider tracking your expenses this year to avoid the same pitfalls.

With a few months of tightening your belt, getting creative with your finances, and staying disciplined, you can get back on track. Use this post-holiday reset as motivation for a year of financial wellness.

Focus on paying down debt and keeping your credit healthy. Keep in mind that building good money habits now can pay off big time when the holidays roll around again.

Stick to a budget, cut out unnecessary expenses, and grow your savings. These small changes can make next year’s holiday season more joyful by giving you extra room to spend without the stress, and make recovering in the New Year a breeze.