Keep Credit Card Debt Under Control This Holiday Season

1. Don't play an ostrich

Ostriches bury their heads in the sand when they're too afraid to face what's going on around them, and a lot of people respond to mounting credit card debt the same way. Shredding your credit card statement unopened will not get rid of the debt, though. Even though it might send a twinge of panic through you, you're more likely to maintain a reasonable repayment schedule if you know what's going on.

2. Set a budget and stick to it

It's easy to get carried away during the holidays, and the fact that we're shopping for others seems to mitigate the problem -- after all, we're just being generous. But your friends and family would not want you to sink into debt just to buy them a gift. Besides, you can actually get -- or even make! -- some amazing gifts that cost relatively little but will meet with just as much appreciation.

So decide what you can spend on each person and make that your limit -- no matter how tempted you may be to splurge.

3. Suggest staying in

One thing that can cost a lot? Meals and drinks out with friends and family. And there seem to be a lot of these around the holidays. It's all too tempting to just grin and bear it (with the aid of that little piece of plastic, of course). But why not invite everyone to your home for a potluck dinner, or a BYOB cocktail hour? It will be more intimate, you'll have just as much fun, and you'll save a pile of charges from adding to your credit card debt.

Remember, the holidays aren't an excuse for financial irresponsibility. Use your common sense to keep your credit card debt under control this Christmas season!