The start of a new year can be a time for many positive beginnings, like opportunities for helpful resolutions. However, it can also bring some not-so-pleasant outcomes from the prior year, like lingering debt.

End-of-the-year celebrations are a perfect time to spend with friends and family and show them how much you love them; unfortunately, that can come with a cost. While Black Friday deals, seasonal decorations, holiday dinners, and family vacations are fun ways to show loved ones you care, they can be financially overwhelming and lead to surprising amounts of debt.

If you find yourself up to your head in debt from credit cards or overspending, here are some things you can do to help dig yourself out of the hole.

• Create a plan and define your financial goals.
• List your current debt and expenses, both fixed and flexible.
• Review your account balances. See if auto-payments will make it easier to keep up with monthly payments and reduce late fees.
• Make or revisit your budget and consider suspending unnecessary expenditures like entertainment, subscription streaming services, and dining out.
• Set S.M.A.R.T. financial objectives (Specific, Measurable, Attainable, Realistic, Time-Oriented) to easily track and monitor results to ensure you’re reducing debt.
• Consider ways to increase your income and earning power by saving money, discussing promotion opportunities with your employer, working an additional job, or selling old and unused items.

Digging out of debt can seem overwhelming initially, but creating a plan and sticking to it can make it easier. You cannot change your financial past, but you can change your financial future!