New Year's Day typically means a time to think about resolutions—goals like weight loss, quitting smoking and managing debt.
After a very busy and very expensive Christmas, many people are thinking about how they can pay off those Christmas bills and be debt free in 2013.
While Holiday spending was down this year, Christmas is still an expensive time of year for everyone.
On top of the gifts, there's also the expense of traveling and Holiday parties.
If you're one of the many Americans facing a big credit card bill this January, financial experts always say it's important to pay off those bills as soon as possible.
On a positive note, we went out to find some families in Sioux Falls facing credit card challenges, but all we found were some very smart spenders.
"I was really good, I tried to be really good about buying everything with cash and not doing much on the credit card," said mother of two Adrienne Walicke.
"We're big believers in not being in debt so, no, we don't have any big bills to pay off," said mother of three Jackie Dumansky.
"We kind of plan ahead—you buy some of your gifts ahead of time in stead of waiting until the last minute; buying them in October, November, thinks like that. So I'm not dreading the next credit card bill," said father of four Aaron Hammrich.
Great news to hear this Holiday season as we were expecting to find at least a few families fearing that credit card bill, but it seems we have a lot of smart Christmas shoppers in South Dakota.
In fact, debt could be down this year all across the country. A forecast from TransUnion shows the rate of borrowers paying bills more than 90 days late should be remarkable low in 2013—less than one percent of credit card users are expected to make those late payments.