Once you have a dollar figure in mind, you can act. It’s the old adage: “If you can measure it, you can manage it.” Own the problem. It’s time to face up.

Step 2: Put your credit cards away

You need to stop the bleeding. Credit cards are tough to use if you don’t have them at hand. If you plan to keep them, at least put them in a locked place or give them to someone you trust to keep (a financial advisor or a family member). You’ll be amazed how little you miss them when you do this for a period of time. No more retail therapy, no more temptations. Repairing your holiday debt will not work if you keep adding to the problem. A better idea is to destroy and cancel them altogether. Or at least all but one emergency card. Another option is to get rid of all unsecured cards (regular credit cards) and get a single secured credit card to use. You’ll need a modest security deposit, but that builds in discipline and a small limit. Your credit score will also improve by paying down the balance in full every month.

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Step 3: Make an austerity plan

Nothing good ever came without some pain. You need a good two months of a personal austerity program to reign in this little beast. Only the essentials for 60 days. Watch Netflix or read a good book or play with your kids. This period will also serve to help you avoid doing this again next year. You’ll remember it. The time will fly by.

Step 4: Pay your debts first

Instead of paying bills immediately when you get each paycheque, make a point of setting aside a significant amount for your credit card with the lowest balance. This is an unorthodox approach that differs from traditional personal finance advice, which tends to focus on chipping away at credit cards with the highest interest rate. but it works because it brings with it an early sense of accomplishment. Paying a card off in full is a tangible gain that you will actually notice.

Many people also feel stressed about the number of cards they are servicing. This knocks one out of the equation earlier. Make sure your payment is significantly more than the normal minimum, otherwise you’ll be paying primarily interest. Preferably do an auto-payment from your account to your debt of choice, or even get your payroll to do it so you never even see it. Doing all this will give you momentum to tackle the bigger credit card beasts later.

Step 5: Stay out of shopping zones

I can’t emphasize this enough: seeing is temptation. Even if you’ve been good enough to put your cards away or destroy them, you will spend if you have the opportunity. So don’t put yourself in that situation. You are in repair mode—you had your fun and now you need to pay up.