Tackle credit card interest rates
Shedding a few pounds after Christmas indulgence isn't the only thing we're trying to lose this January.
Consumers are struggling to pay off credit card balances that were created during the holiday gift-buying frenzy, according to a comparison site.
And some providers are beginning to increase the interest rates, which could mean it'll take a little longer to pay off those outstanding balances.
But the good news is there are ways to get round this, says the comparison site.
The most obvious approach is to pay off the card balance as quickly as possible. As your balance decreases, the figure used to calculate the interest due is smaller. Although this doesn't change the interest rate itself, it does mean you will pay the provider less money over time.
But if this isn't possible, then the site advises transferring the balance to a competitor as an option. Various providers are offering competitive rates of interest, including Egg and Barclays.
You may be able to arrange a balance transfer and enjoy a lower rate of interest, saving some money as you work to pay off the balance.